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
Bybit Defies Odds: How the Largest Crypto Hack in History Became a Test of Resilience and Transparency
DUBAI, UAE, Feb. 23, 2025 /PRNewswire/ — In a remarkable display of resilience and professionalism, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has successfully navigated the largest hack in crypto history. On February 21, 2025, hackers stole approximately $1.5 billion in digital assets from Bybit’s Ethereum wallet, marking the biggest cryptocurrency heist ever recorded. Despite this unprecedented breach, Bybit’s swift and transparent crisis management ensured that the crypto market remained stable, with no significant price volatility.
Swift Crisis Management
Bybit’s response to the hack was marked by swift action, transparency, and professionalism. Ben took immediate ownership of the situation, addressing the community within 30 minutes via X and conducting a livestream session just one hour after the incident. This live session, which lasted over two hours, provided real-time updates and detailed explanations, ensuring that all stakeholders were informed and reassured. Bybit’s prompt and open communication effectively prevented panic and maintained trust in the exchange, setting a high standard for crisis management in the crypto industry
Throughout the crisis, Bybit’s withdrawal and product services remained uninterrupted, with clients able to access support and their respective relationship managers at all times. This seamless continuity was a testament to the team’s preparedness and efficiency, even under extreme pressure.
Industry Unity in Support of Bybit
The crypto industry rallied around Bybit, demonstrating a united front against security threats. Major exchanges blacklisted the hacker’s wallets, preventing further movement of stolen funds. This unprecedented show of unity underscores the growing maturity of the crypto sector, where competitors become allies in times of need.
Client Fund Protection
Despite the significant scale of the hack, Bybit’s 1:1 reserve guarantee ensured that client assets remained fully intact. Bybit CEO Ben Zhou reassured users that Bybit is solvent and can cover the loss, emphasizing that all client assets are backed on a one-to-one basis. This guarantee demonstrates Bybit’s financial stability and commitment to user security.
Regulatory and Law Enforcement Collaboration
Bybit worked closely with regulators and law enforcement agencies to address the hack. This collaboration not only facilitated a swift response but also set a precedent for future cooperation between the crypto industry and regulatory bodies. As the incident unfolds, further developments are expected from this front, potentially leading to enhanced security measures and regulatory frameworks.
Rapid Recovery
Bybit demonstrated remarkable resilience in the face of the crisis, processing over 350,000 withdrawal requests efficiently within 12 hours of the hack. Despite the surge in withdrawal requests, the exchange ensured that all transactions were completed without significant delays, showcasing the team’s professionalism and experience in managing critical incidents. Bybit’s operations quickly returned to normal, with client activity rebounding to pre-hack levels within 24 hours. This swift recovery underscores the trust that clients and investors have in Bybit’s crisis management capabilities, highlighting the exchange’s ability to maintain stability even in the most challenging circumstances
Bybit’s handling of the recent hack sets a new industry standard for crisis management. The exchange’s ability to turn a potentially disastrous event into a demonstration of resilience and transparency is a testament to its long-standing culture of responsibility and openness. This incident highlights not just Bybit’s operational excellence but also the growing maturity and unity of the crypto industry as a whole.
#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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SINGAPORE, Feb. 23, 2025 /PRNewswire/ — In the wake of the recent $1.5 billion hack affecting a major cryptocurrency exchange, HTX hosted a live discussion on X and its Global Advisor Justin Sun addressed the growing security concerns in the cryptocurrency industry. The discussion, titled “Together Against Industry Crisis, Is There a Best Solution for the Security of the Crypto Industry?” featured insights from leading security firms SlowMist and GoPlus Security, as well as prominent KOLs.
Security: A Top Priority for HTX
Sun stressed that security is a “top priority”, demanding constant vigilance and learning. He illustrated how hacker tactics have evolved, from early hot wallet attacks to more sophisticated multi-signature wallet breaches, and declared that exchanges must continuously enhance their security protocol.
Sun emphasized that security is like personal health management, requiring internal efforts and a proactive approach. HTX has implemented multi-device login, remote login alerts, abnormal transfer alerts, and other security features, and has publicly disclosed Merkle Tree Proof of Reserve (PoR) for 28 consecutive months, maintaining reserve ratios exceeding 100%.
Sun’s Influence on Security Practices Across the Crypto Landscape
Sun’s commitment to security extends to his vision for HTX and his influential role in shaping security practices across the broader crypto landscape. He believes that the principle of security is considered fundamental to every business and product. He cited the early implementation of native multi-signature functionality in TRON as a successful example of proactive security design, demonstrating his commitment to building security into the foundation of his projects. He also highlighted the recent launch of USDD 2.0, emphasizing the deep understanding of stablecoin security risks that informed its development. “Just as exchanges should strengthen security mechanisms from the source in system design and operation, to maximize the prevention of security incidents,” Sun stated.
Sun also revealed that HTX collaborates with numerous white hat teams to conduct continuous penetration testing, security drills, and vulnerability mining. The platform actively monitors global cryptocurrency security incidents and studies hacker attack principles and methods for effective prevention.
Addressing the Situation and Industry Cooperation
Regarding the controversy surrounding CZ’s suggestion for the affected exchange to suspend withdrawals, Sun acknowledged the validity of the advice from an exchange perspective. He explained that the initial hours after a security breach are crucial for investigating the issue and ensuring safety. While suspending withdrawals is necessary to eliminate risks, the suspension period should be minimized to reduce user impact.
Sun called for closer cooperation between exchanges, security agencies, and the community to jointly address hacker threats, promote technological sharing, security innovation, and information exchange, and promote the healthy and sustainable development of the industry.
HTX’s Commitment to User Safety
HTX demonstrates its commitment to security through a proactive and continuously improving approach. The platform’s multi-faceted security strategy encompasses collaboration with leading security experts, rigorous ongoing monitoring, robust internal protocols, and a focus on enhancing multi-signature support, security alerts, and mitigating emerging threats such as hashtag scams. This comprehensive strategy reflects HTX’s dedication to safeguarding user assets and fostering a secure and reliable trading environment. This commitment was further emphasized by the specific security protocol requirements shared by Justin Sun at the February 21st Meetup in Hong Kong.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services. Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.
For more information on HTX, please visit the HTX Square, or https://www.htx.com/, and follow X, Telegram, Discord. For further press enquiries, please contact [email protected].
Contact Details
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Blockchain Press Releases
Bybit Expresses Deep Gratitude as Crypto Industry Unites Against Security Threats
DUBAI, UAE, Feb. 22, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, extends its heartfelt thanks to the global crypto community for the overwhelming support received in the wake of a recent security incident. This unprecedented show of solidarity has not only reinforced Bybit’s resilience but has also laid the foundation for stronger industry-wide measures to counter and prevent future hacking incidents. From institutional liquidity providers to leading blockchain security firms, the swift and coordinated response has exemplified the strength of the Web3 community.
A United Front Against Threats
As soon as the incident was detected, Bybit’s security team took immediate action—locking down systems, securing funds, and collaborating with top cybersecurity experts. The exchange received overwhelming support from key players across the industry, all working together to track, contain, and mitigate the impact of the exploit.
Ben Zhou, Co-Founder and CEO of Bybit, expressed his gratitude:
“It’s been a challenging period for Bybit, but one thing is clear—our partners have our backs. The support from Antalpha Global, Bitget, Pionex, MEXC, SoSoValue, Galaxy Digital, FalconX, Lido Finance, Solana Foundation, Ton Foundation, Ghaf Capital, Fenbushi, Bitvavocom, Tether and many others has been nothing short of incredible. Your trust, quick action, and solidarity mean everything. We’re moving forward, stronger and more determined than ever. Thank you for standing with us.”
Industry Leaders Take Immediate Action
Several major players in both DeFi and CeFi swiftly mobilized to prevent further movement of stolen funds and uphold market stability:
- Orbiter, deBridge, SynFutures, MYX, Thruster and Owlto blacklisted exploit-related addresses, preventing unauthorized transfers.
- Chainalysis rapidly tracked and published the exploiter’s wallet addresses, enabling a coordinated industry-wide response.
- SIS cross-chain bridge stepped up to block associated addresses, restricting the attacker’s ability to launder assets.
- Zero Shadows activated its 24/7/365 Global Response team, collaborating closely on Bad Actor Tracing and Identification, Funds Tracing, and Law Enforcement Communications to support the investigation and recovery efforts.
- Institutional clients, including TMSI, Bayside trading, Mathrix, Wintermute, Cumberland, GSR Markets, maintained their trading positions, reinforcing stability amid uncertainty.
“Their trust in us, despite the circumstances, speaks volumes about the maturity and resilience of this industry,” Ben added. “It shows a defining moment that proves crypto’s strongest players stand together when it matters most.”
A Community That Stands Together
Bybit also acknowledged the unwavering support from its VIP clients, traders, and broader user base. Messages of encouragement and patience from the community have been instrumental as the exchange works around the clock to enhance security measures and safeguard funds.
“While this has been a difficult moment, it is also a powerful reminder of why we are here—to build an open, resilient, and decentralized financial future,” Ben said. “The real work has just started, and with this level of unity in this space, we know we’ll come back even stronger.”
Bybit remains committed to transparency and will continue to provide updates as it implements additional security enhancements. The exchange is working closely with industry leaders to set new standards for crisis management, ensuring the safety and trust of its users while strengthening the broader industry’s defenses against future threats.
#Bybit / #TheCryptoArk
//ENDS
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 updates, please follow: Bybit’s Communities and Social Media
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