How Have Multi-access Edge Computing and 5G Technology Revolutionized the IIoT and Other Sectors?

Highlights:

• Introduction
• Integration of 5G networks in MEC
• Potential of MEC
• Key acquisitions and new product launches

In recent years, the Internet of Things (IoT) and IoT devices have experienced significant growth, resulting in enhanced productivity and increased network agility. This expansion has also led to the widespread adoption of edge computing and the introduction of advanced edge devices. Computational demands are effectively addressed by distributing computing resources along the communication path, utilizing a decentralized computing infrastructure through edge computing.

Edge computing and multi-access edge computing (MEC) aim to provide immediate, high-bandwidth, low-latency access to latency-sensitive applications distributed at the network infrastructure. By its proximity to end-users and applications, edge computing enables the development of a fresh category of cloud-native applications that allows network operators to expand their networks into a novel ecosystem and value chain.

A revolutionary blend of 5G networks and multi-access edge computing

5G technology uplifts edge computing by addressing the demand for high-speed, low-latency connectivity between edge devices and centralized systems. 5G networks establish real-time seamless communication channels with minimal latency and ultra-fast data transmission speeds. Moreover, the 5G network enables the deployment of bandwidth-based services and applications at the edge. Also, it reduces congestion, enables quicker response times, and enhances network efficiency.

MEC uses these features to streamline responsiveness and enable real-time interactions. The drastic reduction in data transfer latency to milliseconds holds transformative implications for applications like AR, VR, and autonomous vehicles. 

In addition, industries deploy time-sensitive applications, offering users seamless and immersive experiences. Through the implementation of edge computing features, MEC improves 5G by closely bringing data processing to IoT devices or end-users. This requires processing data at the network's edge with the integration of MEC and 5G by significantly reducing the time required for information to traverse to and from a centralized data center.

Applicability of Multi-access edge computing

Immersive technologies

Augmented reality (AR) and virtual reality (VR) are gaining momentum in the entertainment industry. The widespread popularity of gaming apps and the integration of VR headsets into mainstream gaming consoles have propelled the popularity of both AR and VR to unprecedented heights. Moreover, MEC technologies are explored to enhance AR and VR experiences.

For seamless operation, both AR and VR require rapid response times and minimal communication latency, making multi-access edge computing an optimal companion. This synergy, coupled with ongoing advancements in AR and VR applications, holds the potential to sustain in the next era of gaming and entertainment systems.

Industrial Internet of Things (IIoT)

The industrial sector has witnessed a significant transformation due to the widespread adoption of the Internet of Things (IoT). This segment, often termed the Industrial Internet of Things (IIoT), includes IoT devices and operations. The use of multi-access edge computing (MEC) technologies and devices improves safety measures in industrial environments. MEC assists in safeguarding industrial workers by providing analysts with real-time information concerning tools, equipment, machinery, vehicles, and environmental factors.

Multi-access edge computing permits manufacturers to deploy automation throughout factory floor and supply chain operations using advanced robotics and machine-to-machine communication close to the data source. This approach eliminates the need to transmit data to a distant server for analysis and response by allowing faster decision-making and enhancing operational efficiency. Due to these factors, the manufacturing segment is projected to generate revenue of $16,944.8 million during the forecast timeframe of 2022 to 2032.

Expansion of the Indian multi-access edge computing sector

The multi-access edge computing industry in India is experiencing growth due to the rapid penetration of IoT devices and applications, increasing use of 5G technology, surging demand for cloud computing and edge computing solutions, and requirement for network optimization. Thus, India is expected to cite a growing CAGR of 52.6% by 2032.

How do top players use strategic moves to strengthen their presence?

The global multi-access edge computing sector is gaining popularity due to a surge in the adoption of IoT and 5G network penetration. To sustain this competitive industry, frontrunners have adopted novel strategies such as new product discoveries, acquisitions, partnerships, mergers, and collaborations. For instance, in April 2021, a subsidiary of Samsung Electronics, HARMAN International, announced its acquisition of the major assets of Savari, an automotive technology company headquartered in Silicon Valley. 

Savari specializes in the development of vehicle-to-everything communications (V2X) technology, focusing on 5G Edge and automotive devices. Savari’s software and hardware technology will enrich HARMAN’s robust automotive telematics and advanced driving assistance systems (ADAS) abilities. This is projected to expand the expertise of HARMAN in 5G Edge, multi-access edge computing (MEC), and smart infrastructure solutions.

On May 11, 2023, Singtel revealed the availability of Azure public multi-access edge computing for all enterprises, opening doors to use the benefits of artificial intelligence (AI) and edge computing accelerated by 5G. This was announced during the launch event at Experience Centre Asia of Microsoft. Singtel also disclosed the integration of partner solutions such as large language modelling (LLM) into its 5G portfolio and its inaugural commercial customer.

To sum up, multi-access edge computing offers immediate, high-bandwidth, low-latency access to latency-sensitive applications distributed at the network infrastructure. The surge in adoption of IoT and 5G network penetration are driving the growth of the global multi-access edge computing industry. However, the rising penetration of MEC in IIoT and immersive technology has highlighted the dynamic potential of this technology. 

For a detailed analysis of the multi-access edge computing industry with competitive scenario and investment opportunities, contact our experts today

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