Multi-access Edge Computing Market Poised to Expand at a Robust Pace of USD 55,409.7 Million Over 2030: Grand View Research Inc.

 Multi-access Edge Computing Market Growth & Trends

The global multi-access edge computing market size is anticipated to reach USD 55,409.7 million by 2030, expanding at a CAGR of 47.2% during the forecast period, according to a new report by Grand View Research, Inc. The increasing adoption of Over-the-Top (OTT) media streaming services and rising demand for personalized content are estimated to drive market growth. The rising number of users opting for the OTT video delivery model is projected to encourage mobile networks and telecom companies to improve their existing infrastructure. The multi-access edge computing (MEC) architecture brings backend functions closer to the user network, which is anticipated to help Multichannel Video Programming Distributors (MVPD) meet consumer expectations.

The technology is observing increased adoption across industries such as automotive, IT, telecom, and data center. The retail sector is also projected to experience substantial disruption due to the integration of MEC technology in the near future. The use of MEC technology is projected to minimize data processing time and increase the effectiveness of in-store systems, allowing for better resolution of consumer complaints. Additionally, the implementation of this technology is intended to reduce the burden of external mega sites, providing users with a more seamless in-store experience. MEC integration in network systems reduces the total cost of ownership and creates quick returns on investment as compared to legacy systems, which could encourage smaller retail chains to adopt MEC technology.

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 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.

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Multi-access Edge Computing Market Highlights

• In terms of region, the Asia Pacific regional market is estimated to expand at a CAGR of over 53% from 2022 to 2030.
• In terms of solution, the software segment accounted for the highest revenue share of around 47.0% of the global MEC market in 2021.
• In terms of end-use, the data centers segment is expected to account for the largest market share of over 20.0% in 2030.
• North America dominated the global MEC market in terms of revenue in 2021. The regional market is expected to expand at a CAGR of 40.0% in the forecast period.

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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, 2018 - 2030)

• Hardware
• Software
• Services

Multi-access Edge Computing End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• IT & Telecom
• Smart Cities, Smart Homes, & Smart Buildings
• Datacenters
• Energy & Utilities
• Automotive
• Others (Healthcare, Agriculture)

Multi-access Edge Computing Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• MEA

List of Key Players in the Multi-access Edge Computing Market

• 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

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.