Overview and Scope
Multi-access edge computing refers to a type of network architecture that offers IT service environments and cloud computing capabilities at the network's edge. Reduced latency, more effective network management and service delivery, and enhanced customer experience are the main objectives of MEC.
Sizing and Forecast
The multi-access edge computing market size has grown exponentially in recent years. It will grow from $4.13 billion in 2023 to $6.67 billion in 2024 at a compound annual growth rate (CAGR) of 61.3%. The growth in the historic period can be attributed to content delivery optimization, network congestion mitigation, improved user experience, low latency requirements, data analytics and insights..
The multi-access edge computing market size is expected to see exponential growth in the next few years. It will grow to $43.12 billion in 2028 at a compound annual growth rate (CAGR) of 59.5%. The growth in the forecast period can be attributed to smart grids and energy management, network slicing optimization, edge-enabled healthcare solutions, open source mec platforms. Major trends in the forecast period include industry-specific edge solutions, decentralized cloud architectures, edge-to-cloud orchestration, network slicing for customization, edge computing for autonomous systems, integration with iot devices..
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Segmentation & Regional Insights
The multi-access edge computing market covered in this report is segmented –
1) By Component Type: Hardware, Software, Service
2) By Organisation Size: Small And Medium Enterprise, Large Enterprise
3) By Technology: Augmented Reality, Data Caching, Internet of Things, Real Time Video Analytics, Virtual Reality
4) By End-User: IT And Telecom, Smart Cities, Smart Homes, And Smart Buildings, Datacenters, Energy And Utilities, Automotive And Governement, Other End Users
North America was the largest region in the multi-access edge computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-access edge computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in the number of connected devices is contributing to the growth of the multi-access edge computing market. The connected devices include computing hardware, laptop or desktop, mobile devices that connect with the internet and each other via various wired and wireless networks. The connected devices allow for a wide range of latency and bandwidth. As a result, it employs multi-access edge computing (MEC), which offers ultra-low latency and high bandwidth while allowing applications to make use of real-time radio network data. For instance, in May 2023, as per Dataprot, a Serbia-based cybersecurity solutions company, there were over ten billion active IoT devices in use in 2021, with an anticipated increase to 25.4 billion by 2030. Therefore, an increase in the number of connected devices is expected to promote the growth of the multi-access edge computing industry going forward.
Key Industry Players
Major companies operating in the multi-access edge computing market report are ADLINK Technology Inc., Advantech Co. Ltd., Nokia Corporation, Cisco Systems Inc., International Business Machines Corporation (IBM Corporation), Huawei Technologies Co. Ltd., Juniper Networks Inc., Saguna Networks Ltd., SpiderCloud Wireless Inc., Vapor IO Inc., FogHorn Systems Inc., Vasona Networks, ZTE Corporation, Microsoft Corporation, Intel Corporation, Hewlett Packard Enterprise Development LP, Dell Technologies Inc., Ericsson AB, Fujitsu Limited, NEC Corporation, Lenovo Group Limited, AT&T Inc., Verizon Communications Inc., Deutsche Telekom AG, Orange S. A., Vodafone Group Plc, Telefonica S. A., China Mobile Communications Corporation, SK Telecom Co. Ltd., KT Corporation, LG Uplus Corp., Samsung Electronics Co. Ltd., Inteliquent Inc., PacketFabric LLC, EdgeConneX Inc., AlefEdge Inc., MobiledgeX Inc., Akamai Technologies Inc., ClearBlade Inc., Adapdix Corporation, Azion Technologies LLC, Phizzle Inc., Rigado LLC, Johnson Controls International plc, Equinix Inc., ADVA Optical Networking SE, Aruba Networks Inc., Avassa Inc., Amazon Web Services Inc., Cloudera Inc., Section. io Inc.
The multi-access edge computing market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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