How Has the Multi-Access Edge Computing Market Evolved Historically and What is its Current Size?
The multi-access edge computing market has seen considerable growth due to a variety of factors.
• The market size for multi-access edge computing has been experiencing rapid expansion in the last few years. It is set to increase from a value of $6.57 billion in 2024 to $10.52 billion in 2025, equating to a compound annual growth rate (CAGR) of 60.2%.
The surge in growth during the historic period is due to factors such as optimization of content delivery, alleviation of network congestion, enhancement of user experience, requirements for low latency, and the emergence of data analytics and insights.
What is the Forecasted Market Size and CAGR for the Multi-Access Edge ComputingMarket?
The multi-access edge computing market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a significant surge in the size of the multi-access edge computing market in the forthcoming years. The market is likely to inflate to approximately $68.92 billion by 2029, hitting a compound annual growth rate (CAGR) of 60.0%.
This predicted growth during the forecast period can be attributed to elements such as intelligent power grids and energy management systems, network slicing efficiencies, edge-facilitated healthcare solutions, and the application of open-source MEC platforms. The forecast period is also anticipated to embrace certain industry trends comprising industry-specific edge solutions, decentralized cloud architectures, orchestration from edge to cloud, custom network slicing, edge computing incorporation into autonomous systems, and seamless integration with IoT devices.
What Are The Key Drivers Fueling Growth In The Multi-Access Edge Computing Market?
The surge in connected devices is significantly influencing the expansion of the multi-access edge computing market. These devices, which include computing hardware, laptops, desktops, and mobile gadgets, connect to the internet and to one another through different wired and wireless networks. They offer a broad spectrum of latency and bandwidth, hence the use of multi-access edge computing (MEC), which provides ultra-low latency and high bandwidth while enabling applications to leverage real-time radio network data. For example, the British Broadcasting Corporation reported in April 2024 that there has been a rise in the use of messaging services among children aged between five and seven, from 59% to 65%. Moreover, the count of children using social media increased from 30% to 38%, and livestream use jumped from 39% to 50%. Notably, more than 40% were found to be online gamers, an increase from 34% in the prior year. Consequently, the rising trend of connected devices is anticipated to drive the development of the multi-access edge computing sector in the future.
What Are The Principal Market Segments In The Global Multi-Access Edge Computing Industry?
The multi-access edge computing market covered in this report is segmented –
1) By Component Type: Hardware, Software, Service
2) By Organization Size: Small And Medium Enterprise, Large Enterprise
3) By Technology: Augmented Reality, Data Caching, Internet Of Things, Real Time Video Analytics, Virtual Reality
4) By End-User: IT And Telecom, Smart Cities, Smart Homes, And Smart Buildings, Datacenters, Energy And Utilities, Automotive And Government, Other End Users
Subsegments:
1) By Hardware: Edge Servers, Gateways, Network Devices, Storage Devices
2) By Software: Edge Application Development Platforms, Edge Management Software, Security Software, Analytics And Monitoring Software
3) By Service: Consulting Services, Integration Services, Support And Maintenance Services, Managed Services
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Which Emerging Market Trends Are Altering The Multi-Access Edge Computing Sector?
A significant move in the multi-access edge computing market is the production of innovative products by major corporations, aimed at solidifying their market position. These innovative strides include improvements in both the hardware and software aspects of edge computing, delivering faster processing, minimal latency, and greater functionality. These cater to the diverse requirements of IoT applications as well as 5G networks. For example, the Singapore-based telecommunications firm M1 Limited launched its multi-access edge computing (MEC) platform called Pinnacle, in partnership with ST Engineering, a technology and engineering conglomerate based in Singapore, in July 2023. With the backing of M1's dedicated 5G network and ST Engineering's AGIL Edge Platform for 5G, Pinnacle is designed to equip businesses with new digital competencies. It provides immediate data processing, reduced latency, and high-performance services, thus assisting companies in streamlining their operations and maximizing the potential of technologies like augmented reality, virtual reality, live video analytics, and industrial IoT. Additionally, Pinnacle provides 5G connectivity and scalable industry solutions along with comprehensive servicing, simplifying the digital transformation process for enterprises.
Who Are the Key Players in the Multi-Access Edge Computing Market?
Major companies operating in the multi-access edge computing market include:
• ADLINK Technology Inc.
• Advantech Co. Ltd.
• Nokia Corporation
• Cisco Systems Inc.
• International Business Machines Corporation (IBM Corporation)
• Huawei Technologies Co. Ltd.
• Juniper Networks Inc.
• Saguna Networks Ltd.
• SpiderCloud Wireless Inc.
• Vapor IO Inc.
• FogHorn Systems Inc.
• Vasona Networks
• ZTE Corporation
• Microsoft Corporation
• Intel Corporation
• Hewlett Packard Enterprise Development LP
• Dell Technologies Inc.
• Ericsson AB
• Fujitsu Limited
• NEC Corporation
• Lenovo Group Limited
• AT&T Inc.
• Verizon Communications Inc.
• Deutsche Telekom AG
• Orange S. A.
• Vodafone Group Plc
• Telefonica S. A.
• China Mobile Communications Corporation
• SK Telecom Co. Ltd.
• KT Corporation
• LG Uplus Corp.
• Samsung Electronics Co. Ltd.
• PacketFabric LLC
• EdgeConneX Inc.
• AlefEdge Inc.
• MobiledgeX Inc.
• Akamai Technologies Inc.
• ClearBlade Inc.
• Adapdix Corporation
• Azion Technologies LLC
• Phizzle Inc.
• Rigado LLC
• Johnson Controls International plc
• Equinix Inc.
• ADVA Optical Networking SE
• Aruba Networks Inc.
• Avassa Inc.
• Amazon Web Services Inc.
• Cloudera Inc.
• Section. io Inc.
What are the Regional Insights into the Multi-Access Edge Computing Market?
North America was the largest region in the multi-access edge computing market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-access edge computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
