Blockchain Press Releases
Edge Computing Market worth $111.3 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 4, 2023 /PRNewswire/ — IoT and connected device adoption will increase, 5G networks will be integrated, edge AI and machine learning will grow, and a continuum from edge to cloud will be created. The trajectory of edge computing will also be influenced by applications that are industry-specific, improved security and privacy safeguards, and a cooperative edge computing ecosystem.
The Edge Computing Market size is expected to grow from USD 53.6 billion in 2023 to USD 111.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period, according to a new report by MarketsandMarkets™. The advancements in hardware technology, open-source software and development tools, surge in adoption of cloud computing services, and the growth of IoT, requirement of a distributed computing paradigm that brings computation and data storage closer to the location where it is sought are a few factors driving the growth of the Edge Computing Market.
Browse in-depth TOC on “Edge Computing Market”
269 – Tables
58 – Figures
285 – Pages
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Scope of the Report
|
Report Metrics |
Details |
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Market size available for years |
2017-2028 |
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Base year considered |
2022 |
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Forecast period |
2023-2028 |
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Forecast units |
Value (USD Million/USD Billion) |
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Segments covered |
Components (Hardware, Software, and Services), Application (Smart Cities, Remote Monitoring), Organization Size, Vertical, and Regions |
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Regions covered |
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
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Companies covered |
Cisco (US), AWS (US), Dell Technologies (US), Google (US), HPE (US), Huawei (China), IBM (US), Intel (US), Litmus Automation (US), Microsoft (US), Nokia (Finland), ADLINK (Taiwan), Axellio (US), Capgemini (France), ClearBlade (US), Digi International (US), Fastly (US), StackPath (US), Vapor IO (US), GE Digital (US), Moxa (Taiwan), Sierra Wireless (Canada), Juniper Networks (US), EdgeConnex (US), Belden (US), Saguna Networks (Israel), Edge Intelligence (US), Edgeworx (US), Sunlight.io (UK), Mutable (US), Hivecell (US), Section (US), EdgeIQ (US) |
By component, hardware segment to record the second highest CAGR during the forecast period
The hardware segment plays a crucial role in the Edge Computing Market. Edge computing involves processing data closer to its source rather than relying solely on centralized cloud infrastructure. This proximity to data sources requires specialized hardware components to enable efficient and reliable computing at the edge. Hardware in the Edge Computing Market includes devices such as edge servers, edge gateways, routers, switches, sensors, and other edge devices. These components are designed to handle the unique challenges of edge environments, including limited power and computing resources, harsh conditions, and low-latency requirements. Additionally, specialized hardware accelerators, such as graphics processing units (GPUs) and field-programmable gate arrays (FPGAs), are employed to enhance processing capabilities and enable tasks like real-time analytics, machine learning, and video processing at the edge. Therefore overall, the hardware segment is vital for enabling the infrastructure and computational capabilities necessary to support the growing demand for edge computing applications across various industries.
By Application, Remote monitoring segment to exhibit significant growth during the forecast period
Remote monitoring services for edge computing technology have been there for years. The new digital monitoring services utilize the latest technologies, such as cloud computing, data analytics, AI, and mobile communications. Organizations are finding edge computing to reduce latency and moving toward the decentralized edge and scattering IT infrastructure over multiple remote sites. In a time-sensitive business, where delivery of every data packet is critical to the business, edge computing can make a huge difference through localized efficient processing; for instance, in the oil and gas industry, seismic and sensor data are required to be frequently stored and physically shipped, which can result in costly delays. In such cases, edge computing helps balance processing loads and analyse telemetry data (irrespective of global distances) and improves business continuity by protecting against unplanned outages or data loss. Thus, with remote work on the rise and businesses utilizing digital platforms and services, edge computing functionalities will deliver faster, reliable, and cheaper data processing.
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By organization size, large enterprises follow SMEs and is showing significant growth in the market
Organizations with more than 1,000 employees are categorized under the large enterprises segment. The traction of edge computing solutions in large enterprises is higher than in SMEs. This is due to their ability to adapt and leverage the benefits of advanced technologies, including edge computing. Enterprises have their offices across regions. The mentioned factors enable enterprises to provide a solution through real-time employee data access. Large enterprises are adopting edge computing solutions increasingly to enhance the operational efficiency of their businesses across regions. The Edge Computing Market is undergoing significant technological transitions, such as enhancement in personalized marketing, big data, social media, real-time solutions, and the use of analytics and ML. All these advancements are favourably welcomed and highly adopted by large organizations. According to a Business Today report in June 2022, edge computing can help large enterprises reduce network costs, avoid bandwidth constraints, reduce transmission delays, limit service failures, and provide better control over the movement of sensitive data. Advanced applications such as AI, proactive monitoring, predictable insights, AR and VR applications, benefit from computing at the edge.
European region to record second highest CAGR in the Edge Computing Market in 2023
Europe has shown significant economic growth in the past few years, despite a dynamic regulatory environment. This is due to the rising expectations of companies in the region to improve their business efficiency by saving time and money. Hence, several major US-based edge computing companies have expanded in the region to build strong clientele and establish a base of operations overseas. Similarly, the regional technology providers are collaborating with the global edge computing providers to maintain a competitive edge, retain existing customers, and allure new ones. For instance, Siemens, a German industrial software provider, collaborated with SAS to create AI-embedded IoT analytics for the
edge and cloud. This region’s IT and telecommunication sector is expected to grab the largest market share. The region is leading in 5G deployment. Telecom operators in this region, along with the US, are expected to spend USD 185 billion by 2026. The region is expected to have 214 million 5G connections by 2025.
Top Key Companies in Edge Computing Market:
The Major Players for Edge Computing Market includes some of the key vendors as well as startups offering contact center solutions across the globe, which include Cisco (US), AWS (US), Dell Technologies (US), Google (US), HPE (US), Huawei (China), IBM (US), Intel (US), Litmus Automation (US), Microsoft (US), Nokia (Finland), ADLINK (Taiwan), Axellio (US), Capgemini (France), ClearBlade (US), Digi International (US), Fastly (US), StackPath (US), Vapor IO (US), GE Digital (US), Moxa (Taiwan), Sierra Wireless (Canada), Juniper Networks (US), EdgeConnex (US), Belden (US), Saguna Networks (Israel), Edge Intelligence (US), Edgeworx (US), Sunlight.io (UK), Mutable (US), Hivecell (US), Section (US), EdgeIQ (US).
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Recent Developments
- In May 2023, Dell Technologies unveiled its NativeEdge platform that has the capability to ease the deployment and management complexities of edge devices for remote-focused firms. NativeEdge replaces Dell’s Project Frontier, which was launched earlier. The new platform is designed as an edge computing platform that provides clients a choice around software, IoT, multi-cloud tools and operational technology to simplify, automate and manage edge infrastructure.
- In April 2023, Nokia launched 4 third-party applications for MX Industrial Edge, which would foster enterprises connect, collect, and analyze data from disparate sources, including video cameras, thereby unlocking its value from operational technology assets over a robust and secure on-premises edge.
- In April 2023, Dell Technologies collaborated with Ericsson which will enable open cloud networks that allow customers to choose their own infrastructure while ensuring telco-grade performance at the far edge. Including Dell PowerEdge servers to Ericsson’s Cloud RAN solution, including the PowerEdge XR8000 and XR5610, which are specifically designed for telecom, Open RAN and mobile edge-computing workloads, the company brings more choices and flexibility for Cloud RAN customers. Dell PowerEdge servers assist facilitating the Cloud RAN journey owing to their high performance, small form factors, resilience, and interconnectivity with the larger network(s).
- In February 2023, Cisco introduced its Cisco Edge Intelligence, a solution by Cisco that improves data governance and control, fetching intelligent insights from connected assets to improve the competitiveness of an organization. It is built on Cisco’s industry-leading multi-layered security.
- In February 2023, the acquisition of Athonet by HPE will integrate Athonet’s technology into its existing Communications Service Provider [CSP] and Aruba networking enterprise offerings to create a private networking portfolio which accelerates digital transformation from edge-to-cloud. Few benefits include enhanced private networks, accelerated private 5G deployments, new enterprise revenue streams for telecom companies with differentiated services leveraging 5G and Wi-Fi, management of operational complexity and cost efficiency with 5G orchestration and zero-touch automation to deliver newer workloads from edge-to-cloud.
Edge Computing Advantages:
- Edge computing moves computational power closer to the end user’s devices or the data source. By processing data locally instead of sending it to a centralised cloud or data centre, a considerable amount of latency is eliminated. Real-time processing and decision-making can take place at or close to the edge using edge computing, leading in quicker response times and better user experiences.
- Edge computing improves reliability and fault tolerance by dividing computing resources among numerous edge devices. Edge devices can carry on operating independently in the event of a network outage or disruption, ensuring that crucial operations are not hampered. Applications include industrial automation, healthcare, and transportation that depend on uninterrupted operations in particular need of this resilience.
- Edge computing works to reduce the load on network capacity by processing data close to the edge. Edge devices have the ability to filter, combine, and analyse data locally rather than sending enormous amounts of raw data to a central server or cloud for analysis. By decreasing the amount of data that must be transmitted across the network, bandwidth use is optimised, and expenses are reduced.
- By decreasing the attack surface and exposing less data, edge computing improves security and privacy capabilities. Processing locally reduces the likelihood of data breaches during transmission since sensitive data can be processed and examined without ever leaving the edge device. Additionally, by putting stringent territorial constraints on the storage of sensitive data, edge computing aids organisations in abiding by data sovereignty regulations.
- Edge computing is highly scalable and versatile since it supports distributed and modular design. The network can readily accommodate new edge devices, increasing computing capacity as required. For quickly developing industries like Internet of Things (IoT) installations, where a lot of devices create a lot of data that needs to be analysed in real-time, this scalability and flexibility is very helpful.
- Organisations can save money by using edge computing to lower their data processing, storage, and transmission expenses. Edge computing lowers the quantity of data that needs to be transferred to centralised servers or the cloud by processing data locally, which saves money on network traffic. Because only pertinent or aggregated data is delivered for subsequent analysis, it significantly reduces the need for extensive data storage infrastructure.
Report Objectives
- To describe and forecast the Edge Computing Market based on components (hardware, software, and services), application, organization size, verticals, and regions.
- To forecast the market size of five main regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
- To analyze subsegments with respect to individual growth trends, prospects, and contributions to the total market
- To provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for major players
- To comprehensively analyze the core competencies* of key players in the market
- To track and analyze the competitive developments, such as product/solution launches and enhancements; business expansions; acquisitions; and partnerships, contracts, and collaborations, in the market.
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Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.
Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.
Innovating Finance Through Tokenization
Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.
Scintilla’s services include:
Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.
Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.
A New Era for Scintilla
The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.
“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”
Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”
The post DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla appeared first on HIPTHER Alerts.
Blockchain Press Releases
KuCoin Managing Director Alicia Kao Highlights Crypto Education at Blockchain Life 2024
DUBAI, UAE, Oct. 24, 2024 /PRNewswire/ — KuCoin, a global leader in the cryptocurrency market, proudly participated in Blockchain Life 2024, one of the industry’s premier events, held in Dubai as Stage Sponsor and Gold Sponsor. This event brought together a diverse group of enthusiasts, professionals, investors, and traders to delve into the ever-evolving world of blockchain and cryptocurrency.
During her keynote speech on “Shaping Crypto Minds with KuCoin: Education Makes Mastery,” Alicia, Managing Director of KuCoin, highlighted the knowledge gaps currently facing the industry. KuCoin is actively addressing these through its various educational initiatives. In the first half of 2024 alone, KuCoin Learn attracted 1.5 million engaged users, while its Learn and Earn program saw participation from over 2.72 million users since its inception. These programs are part of KuCoin’s broader effort to elevate user education and ensure traders and investors have the tools they need for informed participation in the crypto space.
Alicia emphasized the importance of security in her presentation, reiterating KuCoin’s commitment to prioritizing user needs and safeguarding their interests. “At KuCoin, we believe that an educated user is a secure user. Our educational platforms, including KuCoin Learn and KuCoin Campus, are designed to empower our users with knowledge that enhances their trading experiences while emphasizing the critical importance of security,” she stated.
In addition to her keynote, Alicia participated in a panel discussion titled “Crypto Exchanges and Private Investors: Shaping Investment Strategies and Adapting to Market Trends.” The panel explored effective strategies for navigating the crypto industry, focusing on how centralized exchanges (CEXs) can help foster industry growth by aligning with investor needs in changing market conditions.
KuCoin’s presence at Blockchain Life 2024 underscores its ongoing commitment to leadership through education in the cryptocurrency sector. It prepares its users to participate in and excel in the evolving digital economy.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Blockchain Press Releases
Bybit’s WSOT Copy Trading Fest Offers 100,000 USDT Prize Pool for Crypto Investors
DUBAI, UAE, Oct. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announces the WSOT Copy Trading Fest, inviting crypto traders and investors to compete for their share of an exciting 100,000 USDT prize pool. Running until October 31, 2024, the event offers participants the opportunity to showcase their expertise or leverage the strategies of top traders.
The World Series of Trading (WSOT) 2024 marks the fifth edition of Bybit’s premier crypto trading event, renowned for bringing global traders together. This year’s WSOT features a total prize pool of up to 10,000,000 USDT, with the Copy Trading Fest adding a unique competitive element for both seasoned and beginner traders.
Tailored for All Traders
- Experienced Traders:
- Compete as Master Trader by executing winning strategies and aiming for the 100,000 USDT prize pool. The top 50 Master Traders with the highest PnL will split the 50,000 USDT pool.
- New and Aspiring Investors:
- Join as Follower, copying the strategies of Master Traders to maximize returns without needing advanced technical skills. The top 100 Followers by PnL will split an additional 50,000 USDT pool.
How to Join and Compete
- Choose Your Role: Decide whether you’ll lead as a Master Trader or copy trades as a Follower.
- Meet the Eligibility Criteria: Ensure a minimum $50,000 trading volume during the event to qualify for rewards.
- Accumulate PnL: Both realized and unrealized profits count towards your leaderboard ranking.
- Fast Rewards: All prizes will be credited to the Bybit Rewards Hub within 10 days after the event ends.
Seize the Opportunity Today!
Whether you’re aiming to showcase your expertise or earn passively by following seasoned traders, the WSOT Copy Trading Fest offers a competitive, transparent, and rewarding experience. With the trading community buzzing, now is the time to jump in and claim your share of the 100,000 USDT prize pool.
#Bybit / #TheCryptoArk / #WSOT2024
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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