SANTA CLARA, California » Aug. 26, 2020 » 5G and Edge Computing—Cloud Workloads Shifting to the Edge, Forecast to 2024, » $7.23 billion » $64.1 million

, /PRNewswire/ — Frost & Sullivan’s recent analysis, finds that edge computing is a foundational technology for industrial enterprises as it offers shorter latencies, robust security, responsive data collection, and lower costs. In this hyper-connected industrial environment, edge computing, with its solution-agnostic attribute, can be used across various applications, such as autonomous assets, remote asset monitoring, data extraction from stranded assets, autonomous robotics, autonomous vehicles, and smart factories. Despite being in a nascent stage, the multi-access edge computing (MEC) 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 by 2024 from in 2019.

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, Information & Communication Technologies Research Director at Frost & Sullivan

“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 . “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.”

Pasquini added: “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.”

Frost & Sullivan predicts that approximately 90% of industrial enterprises will utilize edge computing by 2022, presenting immense growth prospects for MEC market participants, including:

5G and Edge Computing—Cloud Workloads Shifting to the Edge, Forecast to 2024 » Information & Communication Technologies

is the latest addition to Frost & Sullivan’s research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

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5G and Edge Computing—Cloud Workloads Shifting to the Edge, Forecast to 2024


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