The latest market report published by Credence Research, Inc. “Global Multi-Access Edge Computing Market: Growth, Future Prospects, and Competitive Analysis, 2023 – 2030”. The Global Multi-Access Edge Computing Market generated revenue of around USD 2.59 billion in 2022 and is anticipated to grow a CAGR of over 47.5% during the forecast period from 2023 to 2030 to reach around USD 3.94 billion in 2030.
Multi-access Edge computing guides mobile edge computing, a member of the edge computing family that brings the IT service environment and cloud computing capabilities up close to the network's edge. Instead of transferring all the data to the cloud for processing using traditional methods, the network edge can store, process, and analyze the data. In a network edge location near the customer, the data is processed. Applications with real-time performance and comparatively large bandwidth, like Industry 4.0 and linked cars, benefit from it. The environment has real-time access to RNI and high bandwidth with extremely low latency (Radio Network Information). MEC makes it possible for software programs to obtain precise time information and local material in light of the state of the local access network. It operates under the fundamental tenet that data processing local to the user, as opposed to in a centralized cloud, reduces network congestion. To host various services and applications, it offers distributed computing capabilities.
The global Multi-Access Edge Computing market is bifurcated into Solution, End-User, and Geography. Based on product, the market is categorized into Hardware, Software, and Services. On the basis of application, the global market is segmented into IT & Telecom, Smart Cities, Smart Homes & Smart Buildings, Data Centers, Energy & Utilities, Automotive, and Others. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Multi-Access Edge Computing Market Major Challenges are numerous and require significant attention from industry leaders to overcome. One major challenge is the need for standardization across different hardware and software platforms, which can hinder interoperability between systems. Another key obstacle is security concerns, as edge computing involves distributing data processing and storage closer to end-users or IoT devices, potentially increasing the risk of cyberattacks. Additionally, latency issues may arise when dealing with real-time applications that demand near-instantaneous response times.
Why to Buy This Report-
· The report provides a qualitative and quantitative analysis of the global Multi-Access Edge Computing market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
· The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
· In-depth analysis of the global Multi-Access Edge Computing market segmentation based on type, and application.
· Major countries in each region with their import/export statistics
· The global Multi-Access Edge Computing market report also includes analysing of the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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