A new report from ResearchAndMarkets.com, titled “5G, IoT, and Mobile Edge Computing 2019 – 2024,” assesses 5G technologies in support of IoT, finding steep growth for 5G and IoT enabled smart machines through 2024.
The report evaluates certain key solutions such as 5G enabled Mobile Edge Computing (MEC) and managed services for devices and other IoT things.
The report also analyzes the impact of 5G in IoT across infrastructure components including hardware, processors, embedded devices, software, and cloud-based service platforms.
It also evaluates the telecom and IT ecosystem in support of Mobile Edge Computing (MEC) including communications and computing infrastructure providers, managed services vendors, carriers and OTT providers.
5G & IoT Research Findings:
- 5G and IoT enabled smart machines represent a $1.2B global opportunity by 2024
- Device-level SLAs will be crucial for ensuring enterprise and industrial QoS requirements
- 5G is a must for in-building private wireless networks in support of ultra-reliable IoT applications
- Application revenue for edge computing in 5G will reach 40% of infrastructure spending by 2024
- Driven by edge computing, micro-datacenters represent a $1.9B USD opportunity globally by 2024
- Virtualized servers in support of the multi-access edge computing market will become nearly a $100M market by 2024
- Breaking down the market by category of use, edge accelerated Web browsing will represent a $54.4M market by 2024
- Driven by enterprise hosted deployment, the mobile edge computing as a service market will reach nearly $73M by 2024
- Driven by private LTE and 5G networks for the industrial segment, the largest industrial vertical for MEC will by manufacturing
- Driven by smart factories, the multi-access edge computing market in support of manufacturing in Asia will reach $194.4M by 2024
The edge computing portion of this market analysis includes a focus on company strategies and offerings relative to current and anticipated future market needs.
It also provides a quantitative analysis of the MEC market including segmentation by industry vertical, region of the world, application, and services.
More from the researcher:
As the size of IoT systems grow to large scale, their scope will also increase in terms of the impact on enterprise systems and consumer’s everyday lives.
5G will optimize IoT networks by way of radio frequency management that meets the needs of both narrowband IoT applications as well as those that require higher bandwidth, which may be on an on-demand basis.
IoT solutions will benefit greatly from the implementation of 5G as cellular providers deploy Low Power WAN (LPWAN) IoT network capabilities. Initial deployments of IoT LPWANs have been non-cellular solutions based on proprietary technologies.