Multi-Access Edge Computing Global Market Report 2024

Multi-access edge computing (MEC) refers to a network architecture type that provides IT service environments and cloud computing capabilities at the edge of the network. The primary goals of MEC include reducing latency, improving network management and service delivery effectiveness, and enhancing the overall customer experience.

The key components of multi-access edge computing include hardware, software, and services. Hardware components play a crucial role in applying edge computing across various industries, performing different tasks based on the software applications they support. Technologies associated with MEC encompass augmented reality, data caching, the Internet of Things (IoT), real-time video analytics, and virtual reality. MEC is utilized by organizations of varying sizes, including small and medium enterprises as well as large enterprises. Its applications span across sectors such as IT and telecom, smart cities, smart homes, smart buildings, data centers, energy and utilities, automotive, government, and others.

The multi-access edge computing research report is one of a series of new reports that provides multi-access edge computing statistics, including multi-access edge computing industry global market size, regional shares, competitors with multi-access edge computing share, detailed multi-access edge computing segments, market trends and opportunities, and any further data you may need to thrive in the multi-access edge computing industry. This multi-access edge computing research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The multi-access edge computing market size has grown exponentially in recent years. It will grow from $4.13 billion in 2023 to $6.67 billion in 2024 at a compound annual growth rate (CAGR) of 61.3%. The growth observed in the historical period can be attributed to factors such as content delivery optimization, mitigation of network congestion, enhancement of user experience, fulfillment of low latency requirements, and the utilization of data analytics for insights.

The multi-access edge computing market size is expected to see exponential growth in the next few years. It will grow to $43.12 billion in 2028 at a compound annual growth rate (CAGR) of 59.5%. The anticipated growth in the forecast period can be linked to factors such as the implementation of smart grids and energy management, optimization of network slicing, deployment of edge-enabled healthcare solutions, and the adoption of open-source multi-access edge computing (MEC) platforms. Noteworthy trends expected in the forecast period encompass the development of industry-specific edge solutions, the utilization of decentralized cloud architectures, edge-to-cloud orchestration, network slicing for customization, the incorporation of edge computing for autonomous systems, and enhanced integration with Internet of Things (IoT) devices.

The growth of the multi-access edge computing market is being fueled by the increasing number of connected devices. These devices, including computing hardware, laptops, desktops, and mobile devices, connect to the internet and each other through various wired and wireless networks. With a broad range of latency and bandwidth, connected devices require solutions to optimize real-time data usage. Multi-access edge computing (MEC) addresses this need by offering ultra-low latency and high bandwidth, allowing applications to utilize real-time radio network data. For instance, Dataprot reported that in 2021, there were over ten billion active IoT devices, and this number is expected to rise to 25.4 billion by 2030. Therefore, the surge in connected devices is anticipated to drive the growth of the multi-access edge computing industry.

The multi-access edge computing (MEC) market is expected to grow due to the increasing adoption of cloud-based services. Cloud-based services, encompassing a variety of on-demand services delivered over the internet, generate high data traffic, necessitating efficient routing for optimized data transmission. MEC plays a crucial role in reducing latency for cloud services, improving the user experience for applications like video streaming and gaming. It enables dynamic scaling of resources, offloading processing to the edge, and integrating edge AI, enhancing efficiency and responsiveness. With global revenue from public cloud services reaching $545.8 billion in 2022, indicating a significant growth of 22.9%, the increasing adoption of cloud-based services is a key driver for the multi-access edge computing market.

Major companies in the multi-access edge computing market are focusing on developing innovative products. These innovations involve advancements in edge computing hardware and software solutions, providing faster processing, low-latency, and enhanced functionality to meet the diverse needs of IoT applications and 5G networks. For example, M1 Limited, a Singapore-based telecommunications company, collaborated with ST Engineering to launch Pinnacle, a multi-access edge computing (MEC) platform. Pinnacle, powered by M1's 5G network and ST Engineering's AGIL Edge Platform for 5G, offers real-time data processing, low latency, and high-performance services. It aims to empower enterprises with digital capabilities, enabling them to streamline operations and leverage technologies like augmented reality, virtual reality, live video analytics, and industrial IoT.

Major companies in the multi-access edge computing market are forming strategic partnerships to develop new products and strengthen their market positions. Strategic partnerships involve leveraging each other's strengths and resources to achieve mutual benefits and success. For instance, Tata Consultancy Services Limited, an India-based information technology company, collaborated with Microsoft Azure to launch the Enterprise 5G Edge suite of solutions. This suite combines TCS applications with Azure private MEC to create and operate an enterprise 5G edge ecosystem, offering applications for various industries. The partnership aims to deliver high-performance and ultra-low latency solutions for modern business needs.

In September 2021, J Frog, a US-based software company, acquired Upswift, an Israel-based company specializing in connected edge device management solutions. This acquisition aims to provide a comprehensive development-to-device platform, realizing digital transformation and bringing automation from development environments to the cloud.

Major companies operating in the in the multi-access edge computing market report are 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., Inteliquent Inc., 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.

North America was the largest region in the multi-access edge computing market in 2023. 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

The countries covered in the multi-access edge computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The multi-access edge computing market includes revenues earned by entities by providing solutions for automated processes for storing, analyzing, and processing data at the network’s edge to enhance the real-time enterprise capabilities in IT service environment and cloud computing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.