The Mobile Edge Computing (MEC) market is expected to grow with a CAGR of around 50.2% during the forecast period 2016-2023. The rising data traffic is one of the major factor which is increasing the growth of global mobile edge computing market. In 2016, the global mobile data traffic is accounted at 8.9 exabyte which is expected to reach to 69 exabytes by the end of 2022. Hence, the rise in data traffic is rising the demand of mobile edge communication systems. In addition to driving factor there are factors such as regulatory & legal framework and privacy and security concern as one of the key restraining factor restricting the growth of mobile edge computing market.
Geographically, North America held the highest revenue share in 2016 in mobile edge computing market. The growth in North American mobile edge computing market is majorly driven by the increasing adoption of smart devices such as smartphone, tablets, etc. The Asia pacific mobile edge computing market is expected to grow with an impressive CAGR during the forecast period 2016-2023. The growth of mobile edge computing market is mainly driven by proliferation of smartphones in countries such as India, China, etc. due to growing demand for real time access and social media growth. Furthermore, growing government initiative in Asian countries such as India, China, Japan, etc. is also contributing to growth in Asia Pacific mobile edge computing market.
The mobile edge computing market is filled with number of players. The key players who are actively working for the development of new technology such as multi access edge computing, etc. are IBM Corporation (U.S.), Huawei Technology Co. ltd. (China), Intel Corporation (U.S.), Juniper Network (U.S.), Saguna Networks Ltd. (Israel) and Nokia Corporation (U.S.) etc. all such players are adopting various strategic initiative such as product development, investment, research and development, expansion, etc. to sustain in the dynamic market.
The Mobile Edge Computing (MEC) market is segmented on the basis of technology, components, verticals and geography. Based on technology global mobile edge computing market report segment includes 4G, 5G and WiMAX technology. The 4G technology held the largest revenue share in 2016. Whereas, 5G technology is expected to experience highest growth rate during forecast period. The major factor towards the growth of 5G technology is growing demand for HD content result in higher data traffic.