The Global Multi-access Edge Computing (MEC) market was valued at USD 4.84 billion in 2019, and now it is projected to reach USD 32.37 billion by 2026, growing at a CAGR of 31.19%, during the forecast period, 2020–2026. Key drivers for edge computing consist of today’s 4G networks, the Internet of things (IoT), and next-generation 5G networks.
Multi-access edge computing (MEC), formerly known as mobile edge computing, is an ETSI-defined network architecture concept that allows cloud computing capabilities and an IT service environment at the edge of the cellular network and, more in general at the edge of any network. The core concept behind MEC is that by running applications and performing related processing tasks closer to the cellular customer, network congestion is decreased and applications perform better. MEC technology is designed to be implemented at the cellular base stations or other edge nodes, and allows flexible and rapid release of new applications and services for customers. Integrating elements of information technology and telecommunications networking, MEC also enables cellular operators to open their radio access network (RAN) to authorized third parties, such as application developers and content providers.
Market Trends, Drivers, Restraints, and Opportunities:
- Industrial applications and workloads are quickly moving to the edge of the network. This shift in enterprise connectivity towards less centralized and individual devices are driving the demand for multi-access edge computing (MEC) technology.
- Video streaming, AR/VR, IoT, gaming, image and video recognition, real-time asset tracking, autonomous vehicles — these next-generation technologies ask for new network technologies. This factor is further projected to drive the market growth, during the forecast period.
- Rising focus of major companies to provide Multi-access Edge Computing (MEC) not only in urban; however, also rural or remote areas with the support of the government is another major factor projected to fuel growth of the global Multi-access Edge Computing (MEC) market.
- However, high cost needed for deployment could restrain the growth of market over the forecast period.
- Multi-access edge computing (MEC) with 5G, two technologies that, when coupled together, offer businesses with a force multiplier for innovation.
Key players include Nokia Corporation, Hewlett Packard Enterprise Company, Huawei Technologies Co., Ltd., Altran Technologies S.A., Cisco Systems, Inc., Schneider Electric SE, Saguna Networks Ltd., ADLINK Technology, Inc., ZTE Corporation, Vasona Networks Inc., Advantech Co. Ltd., and Wind River Systems Inc.
The Global Multi-access Edge Computing (MEC) Market has been segmented on the basis of:
- North America
- Latin America
- Middle East & Africa
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Multi-access Edge Computing (MEC) Market Overview
- Global Multi-access Edge Computing (MEC) Market Analysis and Forecast by Type
- Global Multi-access Edge Computing (MEC) Market Analysis and Forecast by Application
- Global Multi-access Edge Computing (MEC) Market Analysis and Forecast by Sales Channel
- Global Multi-access Edge Computing (MEC) Market Analysis and Forecast by Region
- North Multi-access Edge Computing (MEC) Market Analysis and Forecast
- Latin Multi-access Edge Computing (MEC) Market Analysis and Forecast
- Europe Multi-access Edge Computing (MEC) Market Analysis and Forecast
- Asia Pacific Multi-access Edge Computing (MEC) Market Analysis and Forecast
- Middle East & Africa Multi-access Edge Computing (MEC) Market Analysis and Forecast
- Competition Landscape
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