Share this article FELTON, California, Feb. 10, 2021 /PRNewswire/ -- The global edge computing market size is projected to reach USD 43.4 billion by 2027 and registering a CAGR of 37.4% during the forecast period from 2020 to 2027, according to a new report by Million Insights. Numerous applications with 5G technology are changing traffic patterns and opening technology growth opportunities for telecom providers. This factor has become a threat for cloud leaders and they have started to invest in edge ecosystem by partnering with telecom companies. The growing adoption of edge computing by telecom companies is anticipated to open new growth avenues in Multi-access Edge Computing (MEC) market space. This MEC allows enterprises to reduce network congestion and also ensure high performance of applications by fetching processing tasks along with running applications close to cellular customers. Moreover, growing implementation of edge computing at mobile edge nodes and base stations is anticipated to increase the deployment of new applications and services for customers, thereby expected to drive the market growth. Due to the increasing number of connected devices worldwide, there has been constant development in edge Artificial Intelligence (AI) which is anticipated to drive the edge computing market growth in the next few years.