Global multi-access edge computing (MEC) market is anticipated to grow at a considerable CAGR of 11.4% during the forecast period (2024-2031). A major factor supporting the growth of the market is the increasing adoption of the Internet of thing (IoT), 5G network rollout and increase in demand in many industries such as IT and telecom, manufacturing, transportation and logistics, and data centres drive the growth of the market. Many IoT applications, such as industrial automation, smart cities, and autonomous automobiles, require real-time decision-making. MEC makes it possible to process data locally, allowing for prompt responses to significant events.MEC responds to the growing need for high-bandwidth, high-reliability, low-latency applications in industries including gaming, virtual and augmented reality, and industrial automation.
Browse the full report description of “Multi-Access Edge Computing Market Size, Share & Trends Analysis Report by Solution (Hardware, Software and Services), by Network Type (Wireless MEC and Wired MEC), and by End- User (IT & Telecom, Data centers, Energy & Utilities, Automotive, Manufacturing, Retail, Healthcare and Others) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/multi-access-edge-computing-market
The power of 5G and future telecoms advances new solutions of multi-access edge computing (MEC) in industry to healthcare. MEC helps state and local governments future-proof the investment through more cost-effective and sustainable operations. For instance, in April 2023, GOV.UKdrive private investment for 5G - investing £40 million ($43.296 million) to develop 5Ginnovation regions across the UK and building better markets by boosting competition and creating the conditions for informed consumer choice.
As digitalization growing, consumers and enterprise businesses continue to maximize the use of large data and network traffic. Data and networks have become key pillars for businesses to compete in the digital economy. Market player seeking to move business-critical applications to the edge for latency, cost, and security reasons. For instance, in April 2021, Hewlett Packard Enterprisesigned a memorandum of understanding (MoU) with Globe Telecomto offer low latency cloud services at the edge of its network using HPE’s new multi-access edge compute (MEC) solution. The offering enable a pre-integrated, telco-grade MEC solution capable of integrated management, service operation, and traffic control.
Market Coverage
• The market number available for – 2023-203
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Solution
o By Network Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Amazon Web Services, Inc., ETSI, Huawei Technologies Co., Ltd., Intel Corp., and Microsoft Corp. among others.
Key questions addressed by the report.
Global Multi-Access Edge Computing Market Report Segment
By Solution
By Network Type
By End-User
Global Multi-Access Edge Computing Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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