CRI Report has released a report titled “Mobile edge computing Market – Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030” which is anticipated to reach USD 2.1 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 36.65% between 2020 and 2030. According to the report, This growth is anticipated due to growing escalation of Internet of Things and increasing concerns for security at public places. In the coming years, the IoT phenomenon is expected to expand with the organization’s digital transformation initiatives. The exponential growth and growing use of IoT in companies would lead to the fuel the edge computing industry. As IoT has increased in several high-computing linked mobile devices, companies have gained access to and stored large volumes of data in the repository
The market report on global Mobile edge computing market includes in-depth insights as:
- The estimated value of the market was USD 730 billion in the year 2020.
- Region-wise, the market in North America, which held the largest market share of XX% in the year 2019, emerged as a key market for Mobile edge computing Market.
- Based on industry vertical, Energy and utilities emerged as a key segment in the global Mobile edge computing Market.
- Based on components, hardware emerged as a key segment in the global Mobile edge computing Market
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The emergence of IoT led to a substantial increase in data, as businesses rely more and more on centralized cloud computing and storage solutions. Movement of the entire IT industry to the cloud poses economic feasibility issues. Therefore, these companies are continuously searching for edge computing resources including edge nodes, instruments, and hyper-located data centers, using IoT sensors, actuators, and other IoT tools..”, according to this report
Mobile Edge Computing is a groundbreaking approach to cloud computing systems optimization. This refers primarily to the systems that enable computational to be carried out at the edge of the network. Edge computing is responsible for aligning data collection and control mechanisms, high bandwidth storage, and end-user-related applications. Battery life for the battery-operated IoT devices is boosted by the shorter times of open communications channels caused by an improved latency. Edge computing also enables efficient data storage, with cleaner data sets for cloud-based analysis as data collection and data processing are done at the edge of the network.
The global Edge Computing market is segmented by industry vertical: Healthcare, agriculture, and energy and utilities. The growing need to close the gap between theoretical performance and the actual production of grid systems promotes the adoption of edge computing practices by grid producers. Therefore, a large number of data generated from power stations distributed need to be processed and analyzed at a faster pace to enable successful decision-making based on data.
Many of the driving forces that help the industry expand include the use of intelligent functionalities such as automatic metering (AMR), distributed generators remote control, grid automation, and real-time power analysis.
Key Players in the Market
- Some of the key players operating in the global Mobile edge computing market are Adlink Technology Inc. (Taiwan), Advantech Co., Ltd. (Taiwan), Artesyn Embedded Technologies Inc. (California, US), Brocade Communications Systems, Inc. (California, US), Huawei Technologies Co., Ltd. (Shenzhen, China), Juniper Networks, Inc. (California, US), Nokia Corporation (Espoo, Finland), Saguna Networks Ltd. (Israel), Vapor IO, Inc. (Texas, US), and Vasona Networks, Inc. (California, US), Other Prominent Players
Get Valuable Insights into Global Mobile edge computing Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Mobile edge computing market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by component into Hardware, Software, Services, and Edge-managed Platforms, by industry vertical: Healthcare, agriculture, and energy and utilities. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.