Grand View Research, Edding Inc., is projected to reach USD 23.36 billion in 2028, the multi-access edge computing global market size, which will facilitate a 42.6% CAGR over the projected period. (OTT) service is expected to speed up requests for access to streaming media and between individuals.
The increasing number of users adopting the OTT video delivery model is expected to boost the telecommunications and cellular networks to improve the existing infrastructure. The use of a Multi-Access Computing (MEC) Architectural System (MEC) brings backend functionality closer to the user’s network, hopefully providing Multicolony Video Programming (MVPD) to meet the demands of its customers.
The software segment is anticipated to be the fastest growing segment as there is a demand for using software among service providers without changing the current 3GPP standard hardware infrastructure.
The fastest growth rates in the energy and utility segments during the projected period are expected to see insights into the industry due to increasing demand among companies and analyzing data generated from remote locations.
Due to strong support from the government to encourage sophisticated network infrastructure, Asia is expected to emerge as a regional market with the fastest growth in the Asia Pacific region.
Some of the major players in the multi-access edge computing market are Microsoft Corporation, Hewlett Packard Enterprise Development LP, Foghorn Systems, and Saguna Networks Ltd.
The end use industry includes IT and telecommunications, data and automotive centres, which see growth in the industry. Apart from the core end-use sector, the retail sector is expected to see significant disruption in the next few years due to the merger of MEC. The spread of MEC technology is expected to improve system performance from store to store and reduce data processing, thereby ensuring quick resolution of customer complaints.
Furthermore, the adoption of this technology is expected to reduce the burden on external macro sites, thus providing an in-store experience for the user. The ability to produce a total cost of ownership (TCO) encourages smaller retail categories to use MEC technology than the succession system required for MEC integration.
The requirements that arise to increase the number of IoT devices and the actual data analysis produced by them are expected to gain momentum in the MEC market. In addition, the real computing era makes it possible to increase pet load and computing due to the increased use of multi-access resources and spread from the edge of the tissue to cloud computing centers via virtual machines. Leveraging this technology in IoT can reduce the pressure on cloud networks and reduce energy consumption, which is expected to provide significant opportunities for growth in the market.
Multi-access edge computing is expected to improve manufacturing practices and thus facilitate the advent of the connected car ecosystem. Connected car computing systems, wireless devices and. equipped with
The sensations must work together in a coordinated manner, thus facilitating the need for the adoption of MECs.
Technology can be delivered for critical operational operations and security information exchange to improve services such as smart parking and car seekers. Moreover, the provision of road risk mapping system, collision warning, emergency vehicle warning and crowd detection attracts individuals to experience these features, which is fueling the growth of the market.
Below Key Players in Multi-access Edge Computing Market List:
- ADLINK Technology Inc.
- Advantech Co., Ltd.
- Saguna Networks Ltd.
- SMART Embedded Computing (Artesyn Technologies)
- FogHorn Systems
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co., Ltd.
- Juniper Networks, Inc.
- Vapor IO
Check out more studies related to edge computing conducted by Grand View Research:
Edge Computing Market – The global lead computing market is estimated to be US$4.68 billion in size in 2020 and expected to grow at a compound annual growth (CAGR) rate of 38.4% from 2021 to 2028. Edge computing caters to a large scale business. Kind of complicated. IT infrastructure, connectivity, application development, traffic delivery and service management require a variety of stakeholders.
Secure Access Services Edge Market – The global market size of Secure Access Services is estimated to be $665.9 million in 2020 and is expected to grow at 36.4% Annual Compound Growth (CAGR) from 2021 to 2028. Development can be linked to this. There is an increased preference for distance work due to the COVID-19 pandemic, which has given rise to the need for robust security infrastructure that can ensure secure access to the data being transferred.
About Grand View Research:
Provide customized and adjusted research reports and consulting services. The company, registered in California and headquartered in San Francisco, includes more than 425 analysts and advisors, adding more than 1,200 market research reports to its large database each year.
These reports provide in-depth analysis across 46 industries in 25 major countries around the world. Grand View Research helps renowned companies and academic institutions to understand the global and regional business environment and assess growth opportunities, with the help of Fortune 500, interactive market intelligence platform.
3GPP standards are expected to be the fastest growing segment of 3GPP standards due to the visible demand among service providers to use software without changing the existing hardware infrastructure.
The Energy and Utilities segment is expected to see the fastest growth rate in the projected period due to the growing demand for business and analytics to analyze the data generated from remote locations.