Multi-Access Edge Computing Market is anticipated to surpass US$26.306 billion by 2028 at a CAGR of 45.89%
The multi-access edge computing market is anticipated to grow at a CAGR of 45.89% from US$2.729 billion in 2022 to US$26.306 billion by 2028.
NOIDA, UTTAR PARDESH, INDIA, January 2, 2024 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the multi-access edge computing market is projected to grow at a CAGR of 45.89%, between 2022 and 2028 to reach US$26.306 billion by 2028.
The increasing Cloud RAN technologies are a key factor behind the rapid growth of the multi-access edge computing market. By combining multi-access edge computing and Cloud RAN, the time for data to travel between systems can be reduced, resulting in faster response times and better user experiences. Therefore, in July 2023, Telstra and Ericsson announced the deployment of Ericsson’s Cloud RAN (Radio Access Network) facilities on Telstra’s 5G commercial network.
MEC (multi-access edge computing) is a cloud computing technology that brings cloud computing capabilities closer to the network edge. It aims to move computing capabilities such as storage, processing power, and data analytics to the network’s edge, close to end users or linked devices.
Numerous product launches and collaborations are occurring in the market, which is propelling the multi-access edge computing market upward. For instance, in May 2023, Singtel disclosed that it is making Azure public multi-access edge computing (MEC) available for all enterprises, enabling them to reap the benefits of edge computing and artificial intelligence (AI) accelerated by 5G. Additionally, in March 2022, Tata Consultancy Services launched its Enterprise 5G Edge suite of solutions in collaboration with Microsoft Azure private mobile edge computing (private MEC). The TCS suite combines comprehensive capabilities to assist enterprises in designing, integrating, implementing, and operating a 5G edge ecosystem using the Azure private multi-edge computing solution.
Access sample report or view details: https://www.knowledge-sourcing.com/report/multi-access-edge-computing-market
The multi-access edge computing market, based on type is segmented into two main categories namely public MEC, and private MEC. Public MEC is more suitable for organizations and accounts for a sizable portion of the multi-access edge computing market.
The multi-access edge computing market, based on end-users is segmented into three main categories namely manufacturing, warehouses, healthcare, and others. Multi-access edge computing is widely used in the manufacturing industry and accounts for a significant portion of the multi-access edge computing market.
The multi-access edge computing market, based on application is segmented into three main categories namely data and video analytics, time-sensitive networking, and others. Time-sensitive networking is growing rapidly and accounts for a sizable portion of the multi-access edge computing market.
North America is projected to contribute a significant share of the multi-access edge computing market due to increasing cloud RAN technologies. For instance, in December 2023, AT&T accelerated the deployment of compatible radio access networks (RAN) in the United States through a new collaboration with Ericsson. According to AT&T’s Open RAN strategy, 70% of its wireless network traffic will flow across open-capable platforms by late 2026.
The research includes coverage of Verizon, Microsoft Corporation, Hewlett Packard Enterprise, AT&T Inc., Dell Inc., SK Telecom Co., Ltd., Intel Corporation, and Huawei Technologies Co., Ltd. are significant market players in the multi-access edge computing market.
The market analytics report segments the multi-access edge computing market using the following criteria:
• By Type
o Public MEC
o Private MEC
• By End-use
o Manufacturing
o Warehouses
o Healthcare
o others
• By Application
o Data and Video Analytics
o Time Sensitive Networking
o Others
• By Geography
o Americas
• United States
• Others
o Europe, Middle East, and Africa
• Germany
• UK
• Others
o Asia- Pacific
• China
• Japan
• South Korea
• Others
Companies Profiled:
• Verizon
• Microsoft Corporation
• Hewlett Packard Enterprise
• AT&T Inc.
• Dell Inc.
• SK Telecom Co., Ltd.
• Intel Corporation
• Huawei Technologies Co., Ltd.
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Ankit Mishra
Knowledge Sourcing Intelligence LLP
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