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Surge in Connectivity Propelling Multi-Access Edge Computing Market to Reach $10.52 Billion by 2025 - Report by The Business Research Company
Multi-Access Edge Computing Market
What Is The Projected Market Size Of The Global Multi-Access Edge Computing Market And Its Growth Rate?
The multi-access edge computing market, showing an exponential growth pattern recently, is set to grow further. Key growth highlights include:
- Rising from $6.57 billion in 2024 to $10.52 billion in 2025, an impressive CAGR of 60.2%. This historic period growth is driven by factors like content delivery optimization, network congestion mitigation, improved user experience, low latency requirements, and data analytics and insights.
- Further exponential growth predicted in the coming years, to reach a massive $68.92 billion by 2029, maintaining the substantial CAGR of 60.0%. The forecast period growth is attributed to advancements such as smart grids and energy management, network slicing optimization, edge-enabled healthcare solutions, and open-source MEC platforms.
What Is Driving The Growth In The Multi-Access Edge Computing Market?
The significant increase in the number of connected devices is further contributing to the growth of the multi-access edge computing market, enabling real-time data usage. Internet-connected devices, spanning from computer hardware and laptops to mobile devices, provide a wide range of latency and bandwidth. Ensuring ultra-low latency and high bandwidth, multi-access edge computing (MEC) allows these devices to use real-time radio network data effectively. Usage stats from the British Broadcasting Corporation further illustrate this - showing considerable increases in children using various online services from messaging to social media, livestreaming, and gaming.
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Who Are The Key Players Driving Multi-Access Edge Computing Global Market Growth?
Notable companies leading 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.
- And many more…
What Are The Key Trends In The Multi-Access Edge Computing Market?
Key trends shaping the future of the multi-access edge computing market include:
- Industry-specific edge solutions
- Decentralized cloud architectures
- Edge-to-cloud orchestration
- Network slicing for customization
- Edge computing for autonomous systems
- Integration with IoT devices
What Are The Segments Of The Global Multi-Access Edge Computing Market?
The multi-access edge computing market can be segmented as follows:
- By Component Type: Hardware, Software, Service
- By Organization Size: Small And Medium Enterprise, Large Enterprise
- By Technology: Augmented Reality, Data Caching, Internet Of Things, Real Time Video Analytics, Virtual Reality
- By End-User: IT And Telecom, Smart Cities, Smart Homes, And Smart Buildings, Datacenters, Energy and Utilities, Automotive and Government, Other End Users
Which Region Leads The Multi-Access Edge Computing Market?
North America was the largest region in the multi-access edge computing market in 2024. However, the Asia-Pacific region is expected to lead the way as the fastest-growing region in the forecast period. The global report also covers other key regions such as Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Multi-Access Edge Computing Global Market Report?
- Market Size Analysis: Analyze the Multi-Access Edge Computing size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Multi-Access Edge Computing for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Multi-Access Edge Computing growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Multi-Access Edge Computing.
- Competitive Developments: Analyze competitive developments such as expansions, agreements and new product launches in the market.
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