Global Multi-Access Edge Computing (MEC) Market Is Projected to Increase to A Value of More Than $15 Billion by 2027

Global Multi-Access Edge Computing (MEC) Market Is Projected to Increase to A Value of More Than $15 Billion by 2027

The Global Multi-access Edge Computing (MEC) Market is projected to increase at a considerable rate, with a CAGR of over 40%.

Multi-access Edge Computing (MEC): Introduction

Multi-access edge computing (MEC), previously mobile edge computing, is an ETSI-defined network engineering idea that empowers distributed computing capacities and an IT administration environment at the edge of the phone network and, more overall at the edge of any network. The essential thought behind MEC is that by running applications and performing related handling undertakings nearer to the cell client, network blockage is decreased and applications perform better.

MEC innovation is intended to be executed at the cell base stations or other edge hubs, and empowers adaptable and quick arrangement of new applications and administrations for clients. Joining components of data innovation and broadcast communications networking, MEC additionally permits cell administrators to open their radio access network (RAN) to approved outsiders, like application designers and content suppliers.

Market overview

The developing reception of IoT gadgets across a few enterprises is relied upon to drive market development. The requirement for quicker decision-production in businesses like IT and telecom, manufacturing, transportation and strategies, and datacentres, inferable from the generation of the tremendous measure of information, is empowering the reception of multi-access edge computing (MEC) technology. Besides, the reception of MEC offers a more secure climate for information move and diminishes dormancy, which is further advancing the wide-scale reception of the innovation in undertakings.

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Notwithstanding the high throughput and low latency presented by MEC applications running on 5G organizations, the 5G help conveyance model offers a few new B2B administrations by utilizing edge mists. Significant level start to finish execution by means of network slicing, security, meeting, and administration congruity modes for super low-inactivity and consistent network, and dependability are the fundamental elements of 5G empowered multi-access edge computing, that is driving the market forward.

The capacity to crunch enormous volumes to refined telemetry information at the edge of the network facilitates with new plan of action updates and consequently permits specialist co-ops to improve serious contention. Besides, the coordination of 5G with MEC engineering could improve the primary reaction and is relied upon to assist public area associations with availability and technology solutions.

Economic growth

The Global Multi-access Edge Computing (MEC) Market size was $1.56 billion 2020, and is projected to increase to a value of more than $15 billion by 2027, with a compound annual growth rate (CAGR) of over 40% from 2020 to 2027.

Market segmentation: Analysis

The Global Multi-access Edge Computing (MEC) Market is segmented by solution, end-user, and region.

On the basis by solution – services, software, and hardware.

On the basis by end-user - IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Energy & Utilities, Automotive, Datacentres, and Others (Healthcare, Agriculture)

On the basis by region - North America (U.S., Canada), Europe (Germany, U.K.), Asia Pacific (China, India, Japan), Latin America (Brazil, Mexico), and MEA.

Popular players in the Global Multi-access Edge Computing (MEC) Market are:

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

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