Mobile Edge Computing Market Size To Reach $5,541 Mn In 2030: Report
As the demand for real-time automated decision-making solutions continues to grow, it is likely that MEC will become increasingly important to support these types of applications and services
A latest report says that the Mobile Edge Computing (MEC) market size reached USD 488.4 million in 2021 and is expected to register a CAGR of 31.2 per cent to reach USD 5,541 million till 2030. The report says that increasing demand for real-time automated decision-making solutions is the key factor driving market revenue growth.
The main goal of MEC is to reduce the latency and improve the performance of applications and services that require real-time processing or fast communication with the network. As the demand for real-time automated decision-making solutions continues to grow, it is likely that MEC will become increasingly important to support these types of applications and services. This is expected to drive revenue growth for MEC as more companies adopt the technology to support their real-time decision-making needs.
For example, Huawei is using MEC to support the real-time decision-making of autonomous vehicles. By bringing computing resources closer to the edge of the network, MEC can help autonomous vehicles make fast, accurate decisions based on data from sensors and other sources.
The report by Emergen Research points out that the complexity of integrating multiple technologies with mobile edge computing is the main restraining factor for the revenue growth of the market. MEC typically involves the integration of a variety of hardware and software components, including servers, storage, networking equipment, and application software.
But the rising trend of the adoption of latency-specific applications among organisations in recent years is driving revenue growth of in the market. More companies and organisations adopt this technology to support their low latency needs.
