Multi-access Edge Computing Market Expected Highest Growth of USD 15.4 Billion By 2027 | Grand View Research, Inc.

Multi-access Edge Computing Market Expected Highest Growth of  USD 15.4 Billion By 2027 | Grand View Research, Inc.

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According to report published by Grand View Research, The global multi-access edge computing market size was valued at USD 1.3 million in 2019 and is anticipated to register a CAGR exceeding 38% from 2020 to 2027.

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. Multi-access Edge Computing (MEC) provides cloud computing capabilities, along with an IT service environment, to application developers and content providers. It moves the computing of traffic and services from a centralized cloud to the edge of the network, with the latter analyzing, processing and storing the data. Through MEC, operators can rapidly and flexibly deploy innovative applications and services geared towards enterprises, mobile subscribers and vertical segments, by opening their Radio Access Network (RAN) edge to authorized third-parties.

Some of the major reasons for the explosive growth of this industry include an increasing preference by companies to establish cloud computing capabilities at the edge of mobile networks. The rapid adoption of IoT and newer applications that require real-time computing power, along with the imminent presence of 5G wireless, have utilized edge computing systems to accelerate the creation or support of applications such as self-driving cars, robotics and AI, and video processing and analytics. 5G enabled multi-access edge computing offers various desirable features such as seamless connectivity, and reliability, high-level end-to-end performance via network slicing, and security, session, and service continuity modes for ultra-low-latency, which have ensured that the industry moves at a rapid pace in the coming years.

The advent of connected cars is another area where MEC has proved to be of the greatest utility, as it is expected to improve and enhance manufacturing practices. The need to make equipment such as computing systems, wireless devices, and sensing co-ordinate with each other has highlighted the importance of MEC, while it can also additionally offer critical value-added services such as smart parking and car finder, collision warning, congestion detection, and hazard mapping system, among others. Another burgeoning industry that has been a witness to the growth of multi-access edge computing is Augmented Reality/Virtual Reality (AR/VR), along with the still-nascent mixed reality (MR) technology. Providers of these technologies are focused on offering optimal experience to users, which plays into the development of the MEC industry.

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 The multi-access edge computing market can be segmented on the basis of solution and end-use. The solution segment comprises of hardware, software and services. The software segment is anticipated to show fastest growth through 2027, aided by the demand from service providers regarding the usage of software that can be utilized for a number of applications without compromising the existing 3GPP standards hardware infrastructure. In terms of end use, the market has been classified into IT and telecom; smart cities, smart buildings and smart homes; data-centers, automotive; energy and utilities; and others. While IT and telecom along with data-centers brought in the maximum revenue for the industry in 2019, going ahead, the energy and utilities segment is expected to boost the market growth, as companies are increasingly preferring the generation and analysis of data generated from remote locations. The use of sensors and robots in mining processes due to advent of Industry 4.0 is expected to lend a hand in the segmental growth.

U.S. multi-access edge computing market size

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.

Multi-access Edge Computing Market Report Highlights

  • 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.

Recent Trends and Developments:

• Multi-access edge computing is expected to aid Multichannel Video Programming Distributors (MVPD) to meet their customers’ demands by bringing the back-end functionality closer to the user network. This area has however witnessed diminishing returns on account of the emergence of OTT services. Here too, the industry players have a lot of scope to garner significant share through upgradation of their existing infrastructure. As smartphone consumption increases across the globe, mobile networks are under increasing pressure to deliver more video, as this media form has mirrored the growth and sales of smartphones. MEC offers an environment to reduce the network impact through optimization of network infrastructure deployments.

• The current COVID-19 pandemic that has kept the world indoors has been identified as a major area by market competitors to leave their stamp on the market. With companies either focusing on phased return to workplace in the coming months, and some planning to postpone office return to the next year, work-from-home scenarios have witnessed an unprecedented growth. Businesses are expected to customize their requirements through the implementation of an Edge Network Interconnected Platform (ENIP), which would enable them to handle changing business needs without any compromises on security. Edge computing, in combination with VDI (Virtual Desktop Infrastructure) and BYOD (Bring Your Own Device), is expected to offer flexibility and affordability to the working operation in these times.

• In June 2020, ADLINK Technology launched the ROScube-X Series, a real-time ROS 2 robot controller for advanced robotics applications. The product is powered by the NVIDIA® Jetson™ AGX Xavier module, which features an integrated NVIDIA Volta GPU, dual deep learning accelerators, as well as GMSL2 camera connectors for advanced robotics system integration. The development is expected to assist manufacturers of intelligent machines and developers of AI applications to build and deploy software-defined features on embedded and edge devices targeting attractive industries such as robotics and industrial IoT.

• In March 2020, Microsoft unveiled Azure Edge Zones, which is expected to enable developers to build optimized and scalable applications using Azure and directly connected to 5G networks. The offerings include Azure Edge Zones, Azure Edge Zones with Carrier, and Azure Private Edge Zones. The development is expected to offer an optimal user experience in areas such as online gaming, remote meetings and events, and smart infrastructure.

·   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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Multi-access Edge Computing Market Segmentation

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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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.

· Multi-access edge computing is expected to aid Multichannel Video Programming Distributors (MVPD) to meet their customers’ demands by bringing the back-end functionality closer to the user network. This area has however witnessed diminishing returns on account of the emergence of OTT services. Here too, the industry players have a lot of scope to garner significant share through upgradation of their existing infrastructure. As smartphone consumption increases across the globe, mobile networks are under increasing pressure to deliver more video, as this media form has mirrored the growth and sales of smartphones. MEC offers an environment to reduce the network impact through optimization of network infrastructure deployments.

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