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Global Multi-access Edge Computing Market Report 2022: Implementation Of 5G & Growing Adoption Of IoT Across Industry Verticals Driving Sector – GlobeNewswire

Dublin, Aug. 22, 2022 (GLOBE NEWSWIRE) — The “Global Multi-access Edge Computing Market Size, Share & Trends Analysis Report by Solution, by End-use, by Region, and Segment Forecasts, 2022-2030” report has been added to’s offering.

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% over the forecast period. 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 technology is observing increased adoption across industries such as automotive, IT, telecom, and data center. The retail sector is also projected to experience substantial disruption due to the integration of MEC technology in the near future. The use of MEC technology is projected to minimize data processing time and increase the effectiveness of in-store systems, allowing for better resolution of consumer complaints.

Additionally, the implementation of this technology is intended to reduce the burden of external mega sites, providing users with a more seamless in-store experience. MEC integration in network systems reduces the total cost of ownership and creates quick returns on investment as compared to legacy systems, which could encourage smaller retail chains to adopt MEC technology.

The MEC market is expected to be fueled by the ubiquity of IoT devices and the growing need for real-time analysis of data produced by them. Moreover, as MEC is implemented through virtual machines from the network edge to cloud computing centers, it leads to better resource utilization and helps reduce routing and computing constraints. Using this technology in IoT can help relieve the burden on cloud networks and reduce the consumption of energy, both of which are predicted to provide considerable market opportunities.

Multi-access edge computing is projected to improve manufacturing practices, leading to the emergence of a connected automated ecosystem. The emergence of connected ecosystems in vehicles is driving the demand for solutions that can help wireless devices, computing systems, and sensors in connected cars to function together in a coordinated manner, which could favor the adoption of MEC. The technology can be used to provide key safety and operational data and improve safety, efficiency, and value-added services like car finders and smart parking. Additionally, applications such as collision warnings, road hazard mapping systems, congestion detection, and emergency vehicle alerts are attracting people to try out these services, supporting market growth.

Market Dynamics

Market Driver

  • Advent Of OTT Media Streaming Delivery
  • Implementation Of 5G
  • Growing Adoption Of IoT Across Industry Verticals

Market Restraint

  • Data Security And Privacy Concerns
  • Penetration & Growth Prospect Mapping

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends & Scope

Chapter 4 Solution Estimates & Trend Analysis

Chapter 5 End-Use Estimates & Trend Analysis

Chapter 6 Regional Estimates & Trend Analysis

Chapter 7 Competitive Landscape

Companies Mentioned

  • ADLINK Technology Inc.
  • Advantech Co., Ltd.
  • FogHorn Systems
  • Hewlett Packard Enterprise Development LP
  • Huawei Technologies Co., Ltd,
  • Juniper Networks, Inc.
  • Saguna Networks Ltd.
  • SMART Embedded Computing
  • Vapor IO
  • ZephyrTel

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This UrIoTNews article is syndicated fromGoogle News

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