The North America Multi-access Edge Computing Market would witness market growth of 37.4% CAGR during the forecast period (2021-2027).
It is anticipated that the rising deployment of Internet of Things devices in various industries will boost the growth of the multi-access edge computing market. In addition, there is a requirement of rapid decision-making in industries like manufacturing, transportation and logistics, IT and telecom, and data centers due to the production of the large volume of data and thus, the deployment of multi-access edge computing (MEC) technology is propelling. Additionally, the deployment of MEC provides a secured environment for reducing latency and transfer of data, which is accountable for increasing the excessive deployment of the technology in companies.
Moreover, MEC applications offer high output and low latency while running on 5G networks and the 5G service delivery model provides various new B2B services by taking maximum advantage of edge clouds. The key features of 5G integrated multi-access edge computing are high-level end-to-end performance with the help of network slicing, service, session, and security continuity modes for ultra-low-latency and unified connectivity, and reliability, which are accountable to drive the growth of the market. MEC is capable to process a large volume of data to complex telemetry data at the network edge, which allows new business model advancements and thus, enables service providers to increase competition among the competitors. Moreover, the incorporation of 5G with multi-access edge computing infrastructure will help in improving the quick response and therefore, is anticipated to assist public sector companies with technology and connectivity solutions.
North America is experiencing a significant rise in the penetration of IoT devices in the US and Canada, because of its real-time computing and storage capabilities provided by edge computing solutions. In addition, the foremost telecommunications companies in Canada and the US are aggressively implementing 5G services and have developed inclusive B2B solutions for companies. Formerly, Verizon Business and AWS declared that they would begin to offer private mobile edge computing (MEC) to companies in the US. The mobile or multi-access edge computing (MEC) offering will endow unified connectivity and fully managed storage.
Moreover, with the development of technology, companies are also demanding to access the latest technologies that is possible with the help of multi-access edge computing (MEC) services. These networks not help in accelerating the traffic from the individual company but also assist in increasing the flexibility and access to the MEC in sharing a large amount of data. Edge computing devices also offer various novel ideas in a short period gap for the expansion of network bandwidth and its durability. Thus, it is anticipated that these factors will contribute to the growth of the regional multi-access edge computing market over the forecasting period.
The US market dominated the North America Automotive Multi-access Edge Computing Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $743.4 million by 2027. The Canada market is experiencing a CAGR of 41.1% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 39.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Multi-access Edge Computing Market is Estimated to Reach USD 16.7 Billion by 2027 at a CAGR of 39.1%
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.
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