Security News > 2020 > September > Multi-access edge computing market to reach $7.23 billion by 2024

Edge computing is a foundational technology for industrial enterprises as it offers shorter latencies, robust security, responsive data collection, and lower costs, Frost & Sullivan finds.

Multi-access edge computing market growth rate and revenue.

Despite being in a nascent stage, the multi-access edge computing market - an edge computing commercial offering from operators in wireless networks - is estimated to grow at an astounding compound annual growth rate of 157.4%, garnering a revenue of $7.23 billion by 2024 from $64.1 million in 2019.

"The recent launch of the 5G technology coupled with MEC brings computing power close to customers and also allows the emergence of new applications and experiences for them," said Renato Pasquini, Information & Communication Technologies Research Director at Frost & Sullivan.

The combination of 5G and the new specialized hardware-based mobile edge compute technologies can meet the market's streaming media needs now and in the future.

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