Multi-access Edge Computing Market growth driver analysis 2022 - 2030.

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 fusion of edge computing and big data analytics could also offer promising growth prospects to the market. Service providers across sectors such as financial services, manufacturing, energy, and agriculture are increasingly adopting multi-access edge computing to gain better business decision-making capabilities, financial instruments, and competitive intelligence. Big data analytics is being constantly used to build compression-based data reduction to minimize the total volume for better in-network data transfer in data centers and clusters. Furthermore, extraordinary use-cases including MEC integration with unmanned aerial vehicle base stations allow the stabilization of delay in edge nodes to safeguard effective energy-saving capabilities and data analysis.

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.

Based on the Solution Insights, the market is segmented into Hardware, Software and Services.

• The need for software capable of offering multi-level load balancing, content synchronization, and distributed processing is boosting the growth of the software segment.
• The hardware segment acquired more than 30% revenue share in 2021. The ubiquity of connected devices and the increased demand for real-time decision-making are encouraging the adoption of improved data centers and servers.

Based on the End-UseInsights, the market is segmented into IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Datacenters, Energy & Utilities, Automotive and Others (Healthcare, Agriculture).

• The telecom and IT segment captured a revenue share of more than 30% in 2021.
• IT software and hardware firms are creating new low-power solutions for IoT networks and systems that are anticipated to enhance sales and open up new revenue streams.
• The MEC architecture helps increase the flexibility in data center deployment.  As a result, the data center segment accounted for a prominent market share in 2021.
• The ability of the technology to create data centers that are linked with a variety of small and medium devices, such as wearables, mobile phones, gateways, and IoT devices, is likely to promote market growth.
• Moreover, the rising numbers of smart building applications and smart cities offer a variety of opportunities to players in the market, especially in areas such as image recognition, video analytics, and facility management end-use.

Multi-access Edge ComputingRegional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Key Companies Profile& Market Share Insights

Establishments globally are joining forces with other companies to develop their service offerings and create new revenue streams.

Some prominent players in the Multi-access Edge Computing market include

• 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

Order a free sample PDF of the Multi-access Edge Computing Market Intelligence Study, published by Grand View Research.