Europe Multi-access Edge Computing Market By Solution (Software, Hardware and Services), By End User (Telecom & IT, Data Centers, Automotive, Smart Cities, Smart Homes, & Smart Buildings, Energy & Utilities, and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Europe Multi-access Edge Computing Market would witness market growth of 38.1% CAGR during the forecast period (2021-2027).
The high requirement to improve the experience of virtual reality or augmented reality (VR/AR) by increasing the bandwidth that will help in improving the 5G capabilities thereby will boost the growth of the MEC market. In addition, the integration of 5G and MEC is facilitated by the growing requirement to offer superior experiences by virtual reality (VR), mixed reality (MR), and augmented reality (AR) with the help of wireless devices. This integration will lead to an increase in the growth of the market in the upcoming years. The integration of MEC with AR/VR is also helping in enhancing broadcasting of sports & entertainment, which is further improving the experience of the user. For example, sports supporters are able to watch high-quality live matches from different angles in real-time by utilizing multi-access edge computing techniques.
As multi-access edge computing (MEC) has the capability to bring technology resources closer to the end-user, the demand for this technology is accelerating in Europe. The data is processed and stored at the network’s edge and helps in significantly reducing latency. Multi-access edge computing offers both cloud computing capabilities and the IT service environment, which helps in getting a real-time response. In addition, the European Telecommunications Standards Institute (ETSI) announced the model of multi-access edge computing (MEC) that allows efficient and fast data processing in mobile networks.
Also, for efficient functioning both augmented and virtual reality need quick response and low-latency communications, making multi-access edge computing a perfect partner for them. 5G wireless & other networking technologies that allow faster networking play a central role in accelerating the expansion of edge computing systems. As MEC offers lower latency, increased bandwidth, and real-time applications, it seems inevitable that multi-access edge computing will become essential to the enterprise of the future.
The Germany market dominated the Europe Multi-access Edge Computing Hardware Market by Country 2020, thereby, achieving a market value of $181.1 million by 2027. The UK market is showcasing a CAGR of 39.1% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 41.1% during (2021 - 2027).
Based on Solution, the market is segmented into Software, Hardware and Services. Based on End User, the market is segmented into Telecom & IT, Data Centers, Automotive, Smart Cities, Smart Homes, & Smart Buildings, Energy & Utilities, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hewlett Packard Enterprise Company, Juniper Networks, Inc., Huawei Technologies Co., Ltd., Amazon.com, Inc., Microsoft Corporation, Adlink Technology, Inc., Advantech Co., Ltd., ZephyrTel, FogHorn Systems and SMART Embedded Computing.
Scope of the Study
Market Segments Covered in the Report:
By End User
- Telecom & IT
- Data Centers
- Smart Cities, Smart Homes, & Smart Buildings
- Energy & Utilities
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Hewlett Packard Enterprise Company
- Juniper Networks, Inc.
- Huawei Technologies Co., Ltd.
- Amazon.com, Inc.
- Microsoft Corporation
- Adlink Technology, Inc.
- Advantech Co., Ltd.
- FogHorn Systems
- SMART Embedded Computing
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