Multi-access Edge Computing Market Present Scenario And Growth Prospects with CAGR Of 38.6% By 2027 | Grand View Research Inc.

Multi-access Edge Computing Market Present Scenario And Growth Prospects with CAGR Of 38.6% By 2027 | Grand View Research Inc.

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According to a report published by Grand View Research, The global multi-access edge computing market size is anticipated to reach USD 15.4 billion by 2027, exhibiting a CAGR of 38.6% over the forecast period,

According to a report, “Multi-access Edge Computing Market Size, Share & Trends Analysis Report By Solution (Hardware, Software, Services), By End Use, By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc.,The global multi-access edge computing market size is anticipated to reach USD 15.4 billion by 2027, exhibiting a CAGR of 38.6% over the forecast period, according to a new report by Grand View Research, Inc. Rise in the adoption of Over The Top (OTT) media streaming services and emerging demand among individuals to gain access to personalized content is expected to drive the market growth. Increasing number of users adopting the OTT video delivery model is expected to promote telecom companies and mobile networks to upgrade their existing infrastructure. Using the multi-access edge computing (MEC) architecture system brings backend functionality closer to the user network, which is expected to aid Multichannel Video Programming Distributors (MVPD) to meet their customers’ demands.

The industry is witnessing increased adoption in end-use industries, including IT and telecom, datacenters, and automotive. Apart from the dominant end-use sectors, the retail sector is expected to witness significant disruption due to the amalgamation of MEC over the next few years. Deployment of MEC technology is expected to enable stores to improve the performance of in-store systems and reduce data processing time, thus ensuring faster resolving of customer grievances. Furthermore, adoption of this technology is expected to reduce the load on external macro site, thus offering a seamless in-store experience for users. Reduced Total Cost of Ownership (TCO) due to integration of MEC in network systems as compared to legacy systems and subsequent ability to generate faster Return on Investment (RoI) is further expected to encourage smaller retail chains to leverage MEC technology.

Increasing number of IoT devices and the emerging need to gain access to real-time analysis of data generated by them is expected to drive MEC market growth. Furthermore, multi-access edge computing deployment allows the improvisation of resource utilization and alleviation of routing and computing burdens due to deployment via virtual machine from the network edge to cloud computing centers. Leveraging this technology in IoT can facilitate reduced pressure on cloud networks and result in lower energy consumption, which is expected to offer significant growth opportunities to the market.

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Multi-access edge computing is expected to enhance manufacturing practices and thus facilitate the advent of connected cars ecosystem. Connected cars are equipped with computing systems, wireless devices, and sensing, which have to work together in a coordinated fashion, thus facilitating the need to adopt MEC. The technology can be leveraged to exchange critical operational and safety information to enhance efficiency, safety, and enhance value-added services such as smart parking and car finder. Furthermore, provision of road hazard mapping system, collision warning, emergency vehicle warning, and congestion detection is attracting individuals to experience these features, which is boosting the market growth.

U.S. multi-access edge computing market size

Further key findings from the report suggest:

  • The software segment is anticipated to be the fastest-growing segment owing to emerging demand among service providers to use software that can be deployed for various applications without making changes to existing 3GPP standards hardware infrastructure

  • The energy and utilities segment is expected to witness the fastest growth rate over the forecast period owing to increasing demand among companies to quickly access insights and analyze data generated from remote locations

  • The Asia Pacific region is expected to emerge as the fastest growing regional market due to strong support from the government to encourage advanced network infrastructure

  • Some of the key players in the multi-access edge computing market are Microsoft Corporation, Hewlett Packard Enterprise Development LP,FogHorn Systems, and Saguna Networks, Ltd.

End-Use Insights

The IT and Telecom segment captured the largest revenue share in 2019. The commercial rollout of the 5G delivery system offers users to experience ultra-low latency and very high bandwidth for efficient transfer and analysis of data resolution, which is expected to further promote companies to leverage MEC practices. Additionally, IT hardware and software companies are coming up with new low-power products for IoT systems and networks, which is expected to boost sales and generate new revenue channels. For instance, AT&T Inc. has started providing MEC-based products, services, and solutions to its clients, according to their needs and requirements.

Global multi-access edge computing market

The datacenters segment captured significant revenue share in 2019, owing to a higher degree of flexibility in data center deployment, offered by multi-access edge computing architecture. Furthermore, changing trends in data center deployment are promoting networks and operators to leverage an agile approach to develop environments and infrastructures based on a distributed architecture. MEC-based micro data centers are expected to facilitate a paradigm shift in deployment methods of data centers. The ability to deploy data centers that are clustered with several small and medium devices such as mobile phones, wearables, IoT devices, and gateways is expected to encourage the MEC market growth.

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Grand View Research has segmented the global multi-access edge computing market on the basis of solution, end use, and region:

Multi-access Edge Computing Solution Outlook (Revenue, USD Million, 2016 – 2027)

  • Hardware

  • Software

  • Services

Multi-access Edge Computing End-Use Outlook (Revenue, USD Million, 2016 – 2027)

  • IT & Telecom

  • Smart Cities, Smart Homes, & Smart Buildings

  • Datacenters

  • Energy & Utilities

  • Automotive

  • Others (Healthcare, Agriculture)

Multi-access Edge Computing Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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