Global Multi-access Edge Computing Market Size study, by Solution (Hardware, Software, Services) by End-Use (IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Datacenters, Energy & Utilities, Automotive, Others (Healthcare, Agriculture)) and Reg

Global Multi-access Edge Computing Market Size study, by Solution (Hardware, Software, Services) by End-Use (IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Datacenters, Energy & Utilities, Automotive, Others (Healthcare, Agriculture)) and Regional Forecasts 2022-2028

Global Multi-access Edge Computing Market is valued approximately USD 1949.6 million in 2021 and is anticipated to grow with a healthy growth rate of more than 47.2 % over the forecast period 2022-2028. Multi-Access Edge Computing (MEC) shifts traffic and service processing from a centralized cloud to the network's edge, bringing it closer to the client. Further, Rather of transmitting all data to the cloud for processing, the network edge analyses, processes, and stores data locally. Collecting and processing data closer to the user minimizes latency and gives high-bandwidth applications real-time performance. The growing use of IoT devices in industries including manufacturing, IT and telecom, data centres, transportation, and logistics is expected to fuel market growth. Multi-access Edge Computing (MEC) technology is being used in several industries because they create large volumes of data and need speedier decision-making. MEC installation also reduces latency and creates a more secure data transmission environment, promoting the technology's acceptance among organizations. Furthermore, the necessity to deliver high-quality experiences via a wireless medium has prompted the combination of 5G and MEC, which is expected to provide the market with promising development possibilities in the coming years. The European commission adopted a 5G Action Plan for Europe to ensure early deployment of 5G infrastructure in Europe in the year 2016 with the aim to begin launching 5G services in all the European union member countries by the end of the year 2020. The initiative would be followed up by a rapid-build up plan that would focus on ensuring uninterrupted 5G coverage in the urban provinces and cities & along primary transport paths by the end of the year 2025. Integrating MEC technology with VR/AR has resulted in significant advances in sports and entertainment broadcasting, hence improving users' watching experiences. For example, sports fans may now watch high-quality, real-time footage of live games from a variety of angles due to MEC technology. However, threat of cyberattacks impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Multi-access Edge Computing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America has risen to the top of the market. The United States' Federal Communications Commission (FCC) has established strategic initiatives such as the 5G FAST PLAN, which aims to accelerate 5G deployment across the country. In the future years, the fast deployment of 5G is expected to increase the need for multi-access edge computing solutions. Asia Pacific accounted for a sizable revenue share and is expected to increase at the highest rate. To improve MEC architecture for commercial services, companies in the area are developing solutions that combine cloud computing with edge computing capabilities.

Major market player included in this report are:

ADLINK Technology Inc.
Advantech Co., Ltd.
FogHorn Systems
Hewlett Packard Enterprise Development LP
Huawei Technologies Co., Ltd.
Juniper Networks, Inc.
SAGUNA
SMART Embedded Computing
Vapor IO
Skyvera
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Solution:
Hardware
Software
Services
By End-Use:
IT & Telecom
Smart Cities, Smart Homes, & Smart Buildings
Datacenters
Energy & Utilities
Automotive
Others (Healthcare, Agriculture)
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Multi-access Edge Computing Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

ADLINK Technology Inc.
Advantech Co., Ltd.
FogHorn Systems
Hewlett Packard Enterprise Development LP
Huawei Technologies Co., Ltd.
Juniper Networks, Inc.
SAGUNA
SMART Embedded Computing
Vapor IO
Skyvera

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