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
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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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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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