The overall mobile edge computing market is expected to reach US$2.8 billion by 2027, at a CAGR of 30.1% during the forecast period of 2020 to 2027.

The forecast comes from Meticulous Research who says the major factors driving the growth of the market include the increasing mobile data traffic and rising need to enhance data quality, rising demand for low-latency processing and real-time automated decision-making solutions, and increasing adoption of MEC solutions across various end use sectors.

In its latest publication, titled “Mobile Edge Computing Market by Component, Application (Location-based Services, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring), Organization Size, and region – Global Forecast to 2027”, the think tank added that the expansion of MEC in AR/VR applications is expected to offer immense growth opportunities for the growth of the market. 

However, a lack of infrastructure and deployment capabilities can obstruct the growth of this market, analysts have warned. Besides, security issues with edge computing are expected to limit this market’s growth.

Based on component, the mobile edge computing market is segmented into hardware, platforms, and services. In 2020, the hardware segment commanded the largest share of the overall mobile edge computing market. 

The growing investment for 5G deployments across the telecommunication industry to improve service quality is one of the key factors fuelling investments in edge gateways and hyper-converged infrastructure.

The mobile edge computing market is dominated by few players, owing to their strong brand recognition, diverse product basket, strong distribution and sales network, and robust growth strategies. 

The top five companies include Saguna Network, Ltd. (Israel), Vapor IO (US), ZephyrTel (US), and Corning, Inc. (US). 

Other prominent players such as IBM Corporation, Intel Corporation, and AT&T, Inc., among others have vast product portfolio and caters several applications other than MEC solutions and services and hence, these companies are deliberately not included in the revenue share analysis. 

However, these companies along with the other ones contribute to the overall MEC market. Some of the leading companies in the mobile edge computing market are Huawei Technologies co., Ltd. (China), Juniper Networks, Inc. (US), IBM Corporation (US), Intel Corporation (US), AT&T, Inc. (US), Nokia Corporation (Finland), Adlink Technology, Inc. (Taiwan), Advantech Co., Ltd. (Taiwan), Emerson Electric co. (US), and GigaSpaces Technologies, Inc. (US) among others.