Multi-Access Edge Computing
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Multi-Access Edge Computing Market Size Growth Forecast: What to Expect by 2025?
The market size of multi-access edge computing has seen an explosive growth lately. It is projected to increase from a value of $6.57 billion in 2024 to $10.52 billion in 2025, with a compound annual growth rate (CAGR) of 60.2%. The historical growth rate is credited to factors such as optimization of content delivery, alleviation of network congestion, enhanced user experience, requirements of low latency, as well as data analytics and insights.
How Will the Multi-Access Edge Computing Market Size Evolve and Grow by 2029?
Substantial growth is anticipated in the multi-access edge computing market size in the coming years, with projections indicating a surge to $68.92 billion in 2029, underpinned by a compound annual growth rate (CAGR) of 60.0%. Factors contributing to this forecast period growth include smart grid and energy management solutions, network slicing optimization, edge-enabled healthcare solutions, and open-source MEC platforms. Key trends predicted for this period include industry-specific edge solutions, decentralized cloud architectures, edge-to-cloud orchestration, customized edge computing for autonomous systems, and network slicing, as well as integration with IoT devices.
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What Drivers Are Propelling the Growth of Multi-Access Edge Computing Market Forward?
The multi-access edge computing market is experiencing growth due to the surge in the number of interconnected devices. These devices range from computing hardware, laptops or desktops, and mobile devices that establish a connection with the internet and interact with each other using several wired and wireless networks. These connected devices accommodate a broad spectrum of latency and bandwidth. Consequently, they utilize multi-access edge computing (MEC), providing ultra-low latency and high bandwidth, enabling applications to leverage real-time radio network data. To illustrate, in April 2024, as per the British Broadcasting Corporation, a broadcasting network based in the UK, the proportion of five to seven-year-olds using messaging services witnessed a rise from 59% to 65%. The count of those engaged on social media escalated from 30% to 38%, and the usage of livestreams increased from 39% to 50%. In addition, slightly more than 40% are said to be participating in online gaming, a rise from 34% the preceding year. Therefore, the escalation in the number of connected devices is anticipated to stimulate the progress of the multi-access edge computing market in the future.
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Which Emerging Trends Are Transforming the Multi-Access Edge Computing Market in 2025?
Leading businesses in the multi-access edge computing market are focusing on product innovation to stay competitive. This involves improvement in both hardware and software aspects of edge computing, providing faster processing, reduced latency, and increased functionality to meet the diverse needs of IoT applications and 5G networks. For example, in July 2023, M1 Limited, a telecom firm based in Singapore, teamed up with ST Engineering, a multinational technology and engineering group from Singapore, to introduce Pinnacle, a multi-access edge computing (MEC) platform. The platform, powered by M1’s dedicated 5G network and ST Engineering’s AGIL Edge Platform for 5G, aims to give enterprises new digital capabilities. It provides real-time data processing, reduced latency, and enhanced performance services, which assist businesses in optimizing their operations and fully utilizing technologies such as augmented reality, virtual reality, live video analytics, and industrial IoT. Pinnacle also ensures 5G connectivity, scalable industry solutions, and comprehensive service, making digital transformation easier for enterprises.
What Are the Key Segments in the Multi-Access Edge Computing Market?
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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Who Are the Key Players Shaping the Multi-Access Edge Computing Market’s Competitive Landscape?
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 Geographic Markets Are Powering Growth in 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
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