The Multi-Access Edge Computing by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Multi-Access Edge Computing, 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.
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.
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The Multi-Access Edge Computing Market Covered In This Report Is Segmented –
Multi-Access Edge Computing By Component Type:
Hardware
Software
Service
Multi-Access Edge Computing By Organisation Size:
Small And Medium Enterprise
Large Enterprise
Multi-Access Edge Computing By Technology:
Augmented Reality
Data Caching
Internet of Things
Real Time Video Analytics
Virtual Reality
Multi-Access Edge Computing By End-User:
IT And Telecom
Smart Cities
Smart Homes And Smart Buildings
Datacenters, Energy And Utilities
Automotive And Governement
Top Key Players:
ADLINK Technology Inc.
Advantech Co. Ltd.
Nokia Corporation
Cisco Systems Inc.
International Business Machines Corporation (IBM Corporation)
Major companies operating in the multi-access edge computing market are developing innovative products for enterprises to gain a competitive edge in the market. Product innovations encompass advancements in edge computing hardware and software solutions, offering faster processing, low-latency, and enhanced functionality, catering to the diverse needs of IoT applications and 5G networks. For instance, in July 2023, M1 Limited, a Singapore-based telecommunications company, launched Pinnacle, a multi-access edge computing (MEC) platform, in collaboration with ST Engineering, a Singaporean multinational technology and engineering group. Powered by M1’s dedicated 5G network and ST Engineering’s AGIL Edge Platform for 5G, Pinnacle is designed to empower enterprises with new digital capabilities. It offers real-time data processing, low latency, and high-performance services, enabling businesses to streamline operations and harness the potential of technologies like augmented reality, virtual reality, live video analytics, and industrial IoT. Pinnacle also provides 5G connectivity, scalable industry solutions, and end-to-end servicing to simplify digital transformation for enterprises.
The multi-access edge computing market report table of contents includes:
1. Executive Summary
2. Multi-Access Edge Computing Market Characteristics
3. Multi-Access Edge Computing Market Trends And Strategies
4. Multi-Access Edge Computing Market – Macro Economic Scenario
5. Global Multi-Access Edge Computing Market Size and Growth
……
31. Global Multi-Access Edge Computing Market Competitive Benchmarking
32. Global Multi-Access Edge Computing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Multi-Access Edge Computing Market
34. Multi-Access Edge Computing Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Multi-Access Edge Computing Market, Segmentation By Component Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Multi-Access Edge Computing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Multi-Access Edge Computing Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 75: ADLINK Technology Inc. Financial Performance
Table 76: Advantech Co. Ltd. Financial Performance
Table 77: Nokia Corporation Financial Performance
Table 78: Cisco Systems Inc. Financial Performance
Table 79: International Business Machines Corporation (IBM Corporation) Financial Performance
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