Mobile Edge Computing Market Size, Share, Growth Analysis, By Solution(Hardware, Software, Services), By End Use(IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings), By Organization size(Large Enterprises, SMEs), By Verticals(Manufacturing, Energy, Utilities, Government), By Application(Location-based Services, Unified Communication, Optimized Local Content Distribution, Data Analytics), By Region - Industry Forecast 2024-2031

Mobile Edge Computing Market Driver

• Rising Demand for Cloud Infrastructure and Development of 5G Technology
• Increased demand for global cloud infrastructure and an increase in the number of intelligent applications are some factors that are driving the growth of the market. The desire to enhance end-user QoE (Quality of Experience) and the need for ultra-low latency are driving factors behind the rising demand for mobile edge computing solutions. MEC offers support for data processing and analysis for real-time applications.
• The development of 5G technology offers the MEC market a variety of opportunities. A new wave of innovation has been unleashed due to 5G and edge computing. The ability of 5G to transfer enormous amounts of data from billions of connected devices is anticipated to hasten the adoption of connected and smart devices in all sectors of the economy. In every industry, 5G and edge computing present opportunities to enhance digital experiences, performance, data security, and continuous operations by bringing cloud computing resources closer to the locations where data is generated. The 5G network and the introduction of numerous new languages and frameworks for IoT solutions are expected to significantly boost the mobile edge computing market over the coming years.

Mobile Edge Computing Market Restraint

High Maintenance Cost and Dearth of Skilled Workers

• Mobile edge computing requires more local hardware, thus the market's anticipated growth could be hampered by rising maintenance cost. Edge computing needs constant updating and monitoring despite being generally safe because sophisticated cyber-attacks are becoming more frequent. Individual MEC nodes and 5G critical services could be the target of lethal Distributed Denial-of-Service (DDos) attacks that might not have been noticed in a centralised data centre.
• Additionally, there is a lack of skilled workers to manage the extremely complex technologies. Lack of infrastructure and deployment capability may limit the growth of the market.