Rising Number Of Connected Devices Fuels Growth In Multi-Access Edge Computing Market: Powering Innovation and Expansion in the Global Multi-Access Edge Computing Market by 2025

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What Is the Expected CAGR for the Multi-Access Edge Computing Market Through 2025?
The market size for multi-access edge computing has seen immense growth over the past few years. The projections indicate that it will expand from $6.57 billion in 2024 to $10.46 billion in 2025, with a compound annual growth rate (CAGR) of 59.3%. Factors such as the optimization of content delivery, managing network congestion, enhanced user experience, low latency needs, and data analytics and insights have contributed to its growth during the historic period.

What's the Projected Size of the Global Multi-Access Edge Computing Market by 2029?
The market size for multi-access edge computing is predicted to experience a rapidly increasing trend in the coming years, with a growth forecast to reach $67.7 billion in 2029, at a Compound Annual Growth Rate (CAGR) of 59.5%. The expected expansion during this forecast period is largely due to factors such as smart grid and energy management technologies, network slicing optimization, edge-assisted healthcare solutions, and open source MEC platforms. Noteworthy market trends for this period include specialized edge solutions for specific industries, the decentralization of cloud architectures, orchestrated edge-to-cloud connections, custom network slicing, edge computing for self-operating systems, and incorporation with IoT devices.

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Top Growth Drivers in the Multi-Access Edge Computing Industry: What's Accelerating the Market?
The proliferation of connected devices is driving expansion in the multi-access edge computing market. These linked devices range from computing hardware, desktops or laptops, and mobile devices that communicate with the internet and one another through different wired and wireless networks. Such devices support extensive latency and bandwidth flexibility. Consequently, they leverage multi-access edge computing (MEC) that assures ultra-low latency and high bandwidth while enabling applications to harness real-time radio network data. For example, data from the British Broadcasting Corporation in April 2024 stated that the proportion of children aged five to seven engaged in messaging services escalated from 59% to 65%. Those active on social media amounted to a rise from 30% to 38%, and livestream usage surged from 39% to 50%. Moreover, it was noted that over 40% were participating in online gaming, a rise from 34% in the preceding year. Hence, the surge in connected devices is predicted to propel the expansion of the multi-access edge computing sector in the future.

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What Trends Will Shape the Multi-Access Edge Computing Market Through 2029 and Beyond?
Leading firms engaged in the multi-access edge computing market are producing novel products to hold a competitive advantage. These innovations include cutting-edge hardware and software solutions in edge computing for quick processing, reduced latency, and improved functionality, tailored to meet the unique needs of 5G networks and IoT applications. For instance, the Singaporean telecommunications company, M1 Limited, teamed up with ST Engineering, a global tech and engineering conglomerate, to introduce Pinnacle, a MEC platform in July 2023. The platform is empowered by M1's exclusive 5G network and ST Engineering's AGIL Edge Platform for 5G and is meant to equip businesses with fresh digital capabilities. Pinnacle offers swift data processing, low latency, and high-performance services to help businesses optimize operations and exploit tech potentials such as augmented reality, virtual reality, real-time video analysis, and industrial IoT. It also provides 5G connectivity, scalable industry solutions, and comprehensive services to facilitate digital transformation for businesses.

What Are the Main Segments in the Multi-Access Edge Computing Market?
The multi-access edge computingmarket 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 Top Companies are Driving Growth 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.

Which Regions Will Dominate the Multi-Access Edge Computing Market Through 2029?
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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