Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Multi-access Edge Computing Market Size, Share & Trends Analysis Report By Solution (Hardware, Software, Services), By End-use (IT & Telecom & Smart Buildings, Datacenters, Energy & Utilities), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global multi-access edge computing market is poised for remarkable growth, with an anticipated size reaching USD 55.41 billion by 2030, marked by an impressive CAGR of 49.1%.
This surge is attributed to several driving forces, including the escalating adoption of Over the Top (OTT) media streaming services and a surging demand for personalized content. The rise in users embracing the OTT video delivery model is prompting mobile networks and telecom companies to enhance their infrastructure, leveraging the Multi-Access Edge Computing (MEC) architecture to bring backend functions closer to user networks.
With applications spanning industries like automotive, IT, telecom, and data centers, MEC's impact extends even to the retail sector, heralding significant transformations. Through MEC's integration, data processing time is minimized, in-store systems' effectiveness is amplified, and the resolution of consumer complaints is enhanced, ushering in an era of seamless experiences.
Moreover, this technology alleviates the burdens of external mega sites, offering a swift return on investment and encouraging the adoption of MEC by smaller retail chains. The rise in the adoption of artificial intelligence and machine learning technologies and their incorporation in edge hardware and software solutions are compelling the market leaders to launch new products, catering to everchanging demands from different industry verticals.
For instance, in May 2023, Dell Technologies announced the launch of "Dell NativeEdge," an operations software to help businesses address the complexities of edge deployment and management. The solution offers simplified, secured, and automated edge application deployment. Multi-access edge computing is projected to improve manufacturing practices, leading to the emergence of a connected automated ecosystem.
The emergence of connected ecosystems in vehicles is driving the demand for solutions that can help wireless devices, computing systems, and sensors in connected cars to function together in a coordinated manner, which could favor the adoption of MEC. The technology can be used to provide key safety and operational data and improve safety, efficiency, and value-added services like car finders and smart parking.
Additionally, applications such as collision warnings, road hazard mapping systems, congestion detection, and emergency vehicle alerts are attracting people to try out these services, supporting market growth.
The growth of the MEC market is expected to be fueled by the ubiquity of IoT devices and the growing need for real-time analysis of data produced by them. Moreover, as MEC is implemented through virtual machines from the network edge to cloud computing centers, it leads to better resource utilization and helps reduce routing and computing constraints.
Using this technology in IoT can help relieve the burden on cloud networks and reduce the consumption of energy, both of which are predicted to provide considerable market opportunities.
Multi-access Edge Computing Market Highlights
- In terms of solutions, the software segment accounted for the highest revenue share of more than 48.0% in 2022
- Based on end-use, the IT & telecom segment dominated the market in 2022 with a revenue share exceeding 28.0%. The energy & utilities category is anticipated to grow at a rapid CAGR of more than 56% over the forecast period
- In terms of region, the Asia Pacific regional market is likely to grow at a CAGR of more than 55% over the forecast period. Companies in the region are offering the combined functionality of cloud computing and edge computing solutions to extend MEC architecture for commercial services
- The leading players in the multi-access edge computing industry include ADLINK Technology Inc.; Advantech Co., Ltd.; Hewlett Packard Enterprise Development LP; and Huawei Technologies Co., Ltd
Key Participants
- ADLINK Technology Inc.
- Advantech Co., Ltd.
- FogHorn Systems Inc.
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co., Ltd,
- Juniper Networks, Inc.
- Saguna Networks Ltd.
- SMART Embedded Computing
- Vapor IO
- ZephyrTel
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Value Chain Analysis
3.3 Market Dynamics
3.4 Industry Analysis Tools
3.4.1 PORTER'S Analysis
3.4.2 PEST Analysis
3.5 Key Market Share Analysis, 2022
3.6 MEC Architectural Blueprint
3.7 MEC Use Cases
3.7.1 Connected Vehicles
3.7.2 Retail
3.7.3 Smart Cities
3.7.4 Video Optimization
3.7.5 Manufacturing
3.7.6 Augmented Reality (Ar)/ Virtual Reality (Vr)
3.8 5G and MEC
3.9 Technical Challenges and Requirements
3.10 COVID-19 Impact on MEC
3.10.1 Post-Pandemic Demand For Edge Technology
Chapter 4 Solution Estimates & Trend Analysis
4.1 MEC Market: Solution Movement Analysis
4.1.1 Hardware
4.1.2 Software
4.1.3 Services
Chapter 5 End-Use Estimates & Trend Analysis
5.1 Mec Market: End-Use Movement Analysis
5.1.1 It & Telecom
5.1.2 Smart Homes, Smart Cities, And Smart Buildings
5.1.3 Datacenters
5.1.4 Energy & Utilities
5.1.5 Automotive
5.1.6 Others
Chapter 6 Regional Estimates & Trend Analysis
6.1 Multi-Access Edge Computing Market: Regional Outlook
Chapter 7 Competitive Landscape
7.1 Key Players
7.2 Recent Developments & Impact Analysis, By Key Market Participants
7.3 Company Categorization
7.4 Participant's Overview
7.5 Financial Performance
7.6 Product Benchmarking
7.7 Company Market Share Analysis, 2022
7.8 Company Heat Map Analysis
7.9 Strategy Mapping
For more information about this report visit https://www.researchandmarkets.com/r/2amfjo
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