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.
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.
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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.
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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
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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