Mobile Edge Computing (MEC) Market Report by Component (Hardware, Software), Organization Size (Small and Medium Enterprises, Large Enterprises), Application (Location-based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring), and Region 2024-2032

Mobile Edge Computing (MEC) Market Report by Component (Hardware, Software), Organization Size (Small and Medium Enterprises, Large Enterprises), Application (Location-based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6309
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Market Overview:

The global mobile edge computing (MEC) market size reached USD 811.7 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 5,528.9 Million by 2032, exhibiting a growth rate (CAGR) of 23.05% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
USD 811.7 Million
Market Forecast in 2032
USD 5,528.9 Million
Market Growth Rate 2024-2032 23.05%


Mobile edge computing (MEC) is an emerging technology that aims to move infrastructure-based cloud resources, such as computation, storage, and bandwidth, to the edge of the cellular network. It establishes the network edge by utilizing various access points, such as routers, switches, hotspots, WiFi, servers, and controllers. MEC is widely used in location-based services, video surveillance, unified communication, data analytics, and environmental monitoring. It distributes computing resources across the network, provides more scalable performance, reduces network load, and hastens data transmission. It also reduces network congestion and latency and improves device performance. As a result, MEC finds extensive applications across the retail, telecommunications, energy, and healthcare industries.

Mobile Edge Computing (MEC) Market Trends:

Significant growth in the telecommunications industry across the globe is creating a positive outlook for the market. MEC enables telecommunication businesses to lessen their reliance on the cloud and assist in processing large volumes of data generated by devices. In line with this, the widespread technology adoption in various industrial verticals to improve quality of experience (QoE), provide low latency computing, and enhance operational efficiency is favoring the market growth. Furthermore, the growing need to manage enormous data traffic due to the rapid proliferation of smartphones and interconnected devices is acting as another growth-inducing factor. Additionally, the rising MEC utilization in emerging technologies, such as artificial intelligence (AI), the Internet of Things (IoT), and federated learning (FL) to reduce power consumption, improve response time, and enhance performance by offering higher bandwidth is providing an impetus to market growth. The increasing demand for the solution can also be attributed to the rising need to facilitate the expansion of fifth-generation (5G) technology by enabling automation and scalability, providing privacy and security, and ensuring significant cost savings. Other factors, including extensive research and development (R&D) activities towards developing new hardware, and emerging product applications in augmented and virtual reality (AR/VR), are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global mobile edge computing (MEC) market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, organization size and application.

Breakup by Component:

  • Hardware
  • Software
     

Breakup by Organization Size:

  • Small and Medium Enterprises
  • Large Enterprises
     

Breakup by Application:

  • Location-based Services
  • Video Surveillance
  • Unified Communication
  • Optimized Local Content Distribution
  • Data Analytics
  • Environmental Monitoring
     

Breakup by Region:

Mobile Edge Computing (MEC) Market By Region

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global mobile edge computing (MEC) market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:

  • ADLINK Technology Inc.
  • Advantech Co. Ltd.
  • Artesyn Embedded Technologies (Advanced Energy Industries Inc.)
  • AT&T Inc.
  • Cisco Systems Inc.
  • Huawei Technologies Co. Ltd.
  • Intel Corporation
  • International Business Machines Corporation
  • Nokia Corporation
  • Saguna Networks Ltd. (COMSovereign Holding Corp)
  • Telefonaktiebolaget LM Ericsson
  • Vapor IO Inc.
  • Vodafone Group Plc
     

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million USD
Segment Coverage Component, Organization Size, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ADLINK Technology Inc., Advantech Co. Ltd., Artesyn Embedded Technologies (Advanced Energy Industries Inc.), AT&T Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, Nokia Corporation, Saguna Networks Ltd. (COMSovereign Holding Corp), Telefonaktiebolaget LM Ericsson, Vapor IO Inc. and Vodafone Group Plc.
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global Mobile Edge Computing (MEC) market was valued at USD 811.7 Million in 2023.  

We expect the global Mobile Edge Computing (MEC) market to exhibit a CAGR of 23.05% during 2024-2032.

The rising integration of MEC with advanced technologies, such as Artificial Intelligence (AI), the Internet of Things (IoT), Federated Learning (FL), etc., to reduce power consumption, improve response time, enhance performance, etc., is primarily driving the global Mobile Edge Computing (MEC) market.

The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of Mobile Edge Computing (MEC) technology, as it minimizes network congestion and improves the performance of devices.

Based on the component, the global Mobile Edge Computing (MEC) market can be divided into hardware and software. Currently, hardware accounts for the majority of the total market share.

Based on the organization size, the global Mobile Edge Computing (MEC) market has been segregated into small and medium enterprises and large enterprises, where large enterprises currently exhibit clear dominance in the market.

Based on the application, the global Mobile Edge Computing (MEC) market can be bifurcated into location-based services, video surveillance, unified communication, optimized local content distribution, data analytics, and environmental monitoring. Among these, location-based services hold the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global Mobile Edge Computing (MEC) market include ADLINK Technology Inc., Advantech Co. Ltd., Artesyn Embedded Technologies (Advanced Energy Industries Inc.), AT&T Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, Nokia Corporation, Saguna Networks Ltd. (COMSovereign Holding Corp), Telefonaktiebolaget LM Ericsson, Vapor IO Inc., and Vodafone Group Plc.

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Mobile Edge Computing (MEC) Market Report by Component (Hardware, Software), Organization Size (Small and Medium Enterprises, Large Enterprises), Application (Location-based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring), and Region 2024-2032
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