Multi-Access Edge Computing Market Size, Share, Growth Analysis, By Solution(Hardware, Software, and Services), By End–Use(IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings), By Region - Industry Forecast 2024-2031

In 2022, North America secured the largest market share, surpassing 40%. This dominance can be attributed to the region's early adoption of the 5G network and the projected significant increase in the number of Internet of Things (IoT) devices. Within North America, the United States emerged as the largest market, benefiting from the presence of major players in various end-use industries. The telecommunications industry played a pivotal role in driving market growth, as technological advancements are crucial for end-users and consumers. Additionally, the healthcare sector contributed significantly to the market's expansion by leveraging technology for faster and more accurate medical data analysis, resulting in improved patient outcomes. Moreover, the manufacturing industry embraced Multi-Access Edge Computing (MEC) technology to enhance production efficiency and reduce operational costs.

Following North America, Asia Pacific exhibited substantial market share in 2022 and is expected to grow at a remarkable CAGR of nearly 55% throughout the forecast period. Companies in this region are actively providing solutions that integrate cloud computing with edge computing capabilities to bolster multi-access edge computing architecture for commercial services. Notably, in March 2021, Bridge Mobile Pte. Ltd., a business alliance of 34 major mobile telecommunications companies, showcased Asia-Pacific's first multi-access edge computing for cloud gaming, involving the MEC platforms of SK Telecom Co., Ltd., and Singtel. This demonstration highlights the region's commitment to embracing cutting-edge technologies to drive the growth of the Multi-Access Edge Computing market.