Multi-access Edge Computing Market Size, Share, Trends, Industry Analysis & Growth 2032

Multi-access Edge Computing Market Insights

According to the report published by Zion Market Research, the global Multi-access Edge Computing Market size was valued at USD 3.22 Billion in 2023 and is predicted to reach USD 92.76 Billion by the end of 2032. The market is expected to grow with a CAGR of 45.28% during the forecast period. The report analyzes the global Multi-access Edge Computing Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Multi-access Edge Computing industry.

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Global Multi-access Edge Computing Market: Overview

Multi-access edge computing (MEC) refers to a service wherein the computing or services traffic is moved to the edge of the network from a centralized cloud, rendering it closer to the customer. The collection and processing of data closer to the customer enhances the real-time performance and reduces latency. MEC provides cloud computing capabilities as well as an IT service ecosystem at the edge of the network.

Enterprises typically implement multi-access edge computing with data centers which are distributed at the edge. Applications leveraging the technology necessitate a high bandwidth and a low-latency environment through creation of distributed clouds or distributed data centers by organizations. The MEC platform offers distributed edge computing by processing data at the edge using either a CPE or a server.

Global Multi-access Edge Computing Market: Growth Factors

Since several leading cloud vendors have been deploying more and more edge servers across local markets, the growth of the global multi-access edge computing market is certain. A growing number of telecom companies have been foraying into 5G development, encouraging market expansion. At the same time, the increasing focus toward interoperability, machine-learning, and data analytics in the arena of edge computing is an expected next-gen solution for businesses. Machine learning will play a vital role by enabling faster and more efficient decision-making.

With several international enterprises improving their agility to keep up with the fast-paced market demands, integration of edge data with cloud-based applications is in the cards. Since edge computing involves a user-centric approach toward monitoring, it can cater efficiently to the need of enterprises for centralized management and scalability. The rising adoption of artificial intelligence (AI) and IoT-enabled devices is another key growth factor fueling global multi-access edge computing market. The adoption of smart devices, alongside the higher preference for cutting-edge technological solutions, is powering industry expansion.  

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Global Multi-access Edge Computing Market: Segmentation

The market has been segregated based on solutions, end-use, and region.

By solution, the market can be differentiated as software, hardware, and services.

On the basis of end-use, the global multi-access edge computing market has been classified as smart cities, smart homes, & smart buildings, energy & utilities, IT & telecom, automotive, datacenters, and others such as agriculture and healthcare. The IT & telecom sector is likely to acquire a prominent industry share by 2026, on account of the surging internet penetration and higher demand for 5G and other latest solutions that are receiving substantial impetus due to COVID-19-induced industry transformation.

Multi-access Edge Computing Market: Report Scope

Global Multi-access Edge Computing Market: Regional Analysis

North America dominated the global multi-access edge computing market in the past and is expected to rise at a high CAGR through the forecast years as well. The U.S. has been leading in terms of revenue generation, by credit to accelerated deployment of 5G through strategic initiatives of the federal government. The growing number of data centers across the region is complementing the deployment of 5G in Canada as well, thereby enhancing market revenue. As a growing number of industry participants in the region have been collaborating and partnering with one another to upscale their product portfolios, the global multi-access edge computing market is certain to expand rapidly.

Asia Pacific is exhibiting robust growth in the recent times, powering the global multi-access edge computing market to a great extent. The major telecom companies located in China, India, South Korea, Singapore and Malaysia have been deploying local edge centers due to their high scalability and convenience. Several of these companies have been engaging in mega-scale computing projects. The public as well as private sector investments are pushing product innovations to a considerable degree. By 2026, the large-scale trend of infrastructural upgradation across the IT sector across the Indian MEC market is expected to pave the way for further growth, adding significantly to the market revenue.

Global Multi-access Edge Computing Market: Competitive Players

• Microsoft Corporation
• FogHorn Systems
• Saguna Networks Ltd.
• ADLINK Technology Inc.
• Advantech Co., Ltd.
• Hewlett Packard Enterprise Development LP
• Huawei Technologies Co.

are some of the market players leading the global multi-access edge computing market. Partnerships and collaborations are predominantly employed by several market players.

For instance, recently, in April 2021, Mavenir, a cloud native network software vendor, announced the launch of its new AI-on-5G edge solution, in collaboration with U.S.-based Nvidia. The Hyper-Converged edge solution will cater to the need of manufacturing, healthcare, and mining applications. Similarly, in March 2021, Singtel and Optus collaborated with cloud provider AWS for offering 5G ecosystems to enterprises and startup telecom companies who are developing 5G solutions across their multi-access edge compute infrastructures.

The Global Multi-access Edge Computing Market is segmented as follows:

By solutions 

• softwar 
• hardware 
• services

By end-use 

• smart cities
• smart homes, & smart buildings
• energy & utilities
• IT & telecom, automotive 
• datacenters
• and others such as agriculture and healthcare

Global Multi-access Edge Computing Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.