Forecast revenue of the multi-access edge computing (MEC) market worldwide 2019-2024

The multi-access edge computing (MEC) market, formerly known as the mobile edge computing market, is expected to achieve revenues of 7.23 billion U.S. dollars by 2024. In 2019, revenues in the market only reached 64.1 million U.S. dollars but is expected to exponentially increase, as edge computing becomes implemented by wireless network operators around the world.

What is MEC?

  Edge computing is a distributed network technology that brings computing, storage, and network capacities closer to the locations where data is generated. Multi-access edge computing (MEC) is the edge computing technology that is deployed in the mobile network. It complements cloud computing which provides centralized computing and storage resources and can bring benefits such as low latency, high bandwidth, and low energy consumption thanks to the physical proximity to end users. MEC is essential in bringing application-oriented capabilities to carriers’ network, turning telcos into versatile service providers.  

MEC and 5G

  MEC is a key enabler of 5G, the fifth generation of mobile connection technology. Telcos first implemented MEC in 4G networks since 4G will remain the mainstream in the near future. The improved network performance as a result of the implementation of MEC in the 4G network will demonstrate the benefits that 5G could bring as well as drive demand, paving the way for broader 5G rollout. The agnostic nature of the MEC reference architecture also allows MEC deployments in the 4G network be repurposed to run 5G applications and services alike, serving as a test bed for 5G edge deployment while allowing network operators to keep the investments made in 4G deployment.