Frost & Sullivan recently released an analysis on the use of edge computing by industrial telecom enterprises called “5G and Edge computing—Cloud Workloads Shifting to the Edge, Forecast to 2024.”
The use of edge computing provides businesses reduced latency, lower costs, powerful security, and flexible data collection options across many applications. Frost & Sullivan’s analysis predicts the growth of the multi-access edge computing (MEC) market by 157.4%, with revenues increasing from $64.1 million in 2019 to $7.23 billion by 2024.
“The recent launch of the 5G technology coupled with MEC brings computing power close to customers,” says Renato Pasquini, Information & Communication Technologies Research Director at Frost & Sullivan. “Going forward, 5G and MEC are an opportunity for telecom operators to launch innovative offerings and also enable an ecosystem to flourish in the business-to-business (B2B) segment of telecom service providers using the platform.”
Frost & Sullivan’s analysis predicts opportunities for growth for innovative, forward-thinking businesses dealing with connected cars, streaming, mobile, AI, drone delivery, and augmented and virtual reality.
“From the perspective of the MEC ecosystem, software—edge application and solutions—promises the highest CAGR followed by services—telecom operators’ services, cloud providers’ infrastructure-as-a-service, and edge data center colocation services.”
For more information, please visit http://frost.ly/4f9.