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Edge Computing Market worth $111.3 billion by 2028 – Exclusive Report by MarketsandMarkets™

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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

Market size available for years

2017-2028

Base year considered

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2022

Forecast period

2023-2028

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

Regions covered

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America

Companies covered

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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.

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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.

Browse Adjacent Markets: Cloud Computing Market Research Reports & Consulting

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About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC.
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Blockchain Press Releases

Animoca-backed Upland’s SPARKLET Token Lists Exclusively on Bitget Launchpool

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VICTORIA, Seychelles, July 23, 2024 /PRNewswire/ — Bitget, the leading cryptocurrency exchange and Web3 company, announced the exclusive listing of Upland’s first-ever tradable token SPARKLET on the Bitget Launchpool.

The one-of-its-kind metaverse project will launch its token generation event (TGE) in collaboration with Bitget, allowing the platform’s users to have priority access for the awaited token. The farming for SPARKLET will start at 13:00 (UTC), on 24th July and end on 1st August 2024. With this, users can stake Bitget Token (BGB) to earn a total prize pool of 7,000,000 SPARKLET tokens. The SPARKLET/USDT pair will be listed on Bitget Spot market, with trading service starting at the same time as Launchpool.

This news comes right after the partnership announcement between Bitget and Upland, which includes building the exchange’s virtual headquarters in the metaverse. As part of this initiative, Bitget has purchased Treasure Island, the last unminted neighborhood in Upland’s San Francisco which houses 888 properties.

Built in 2019, Upland stands as one of the most widely-used web3 platforms, with 30,000+ daily active players, 300,000 unique land owners, and over 6,000,000 NFT sales. Upland has transformed into a Layer 1 metaverse, delivering the foundational infrastructure of an open, immersive web, including identity, liquidity, currency, land, no-code NFT creation, fiat on/off ramps, and governance.

“The initiative directs Upland’s strong stance towards decentralization, allowing Spark holders to trade Sparklet in liquid markets. It also aims to boost Upland’s presence and credibility in the Web3 industry by listing on top-tier exchanges such as Bitget, attracting more users and enhancing the platform’s network effects,” says Dirk Lueth, CEO at Upland.

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Spark as the native utility token, fueled all value creation in Upland. It is the resource required for world-building, joint community projects, no-code NFT minting, and “manufacturing” of 3D map NFTs such as cars or decor items and more. The SPARKLET token is one-thousandth of a SPARK. In May 2024, Upland users were airdropped Sparks, which now has been migrated to SPARKLET tokens on Ethereum.

“At Bitget, our support for crypto gems goes beyond a simple listing. We are dedicated to helping promising projects gain more visibility, users, and partners through our Launchpool, Launchpad, and various educational and reward initiatives. Our collaboration with Upland to create a Bitget-themed metaverse is a mutually beneficial and exciting endeavor. We aim to become the top choice for more emerging projects in the future, aiding them in creating a greater real-life impact,” says Gracy Chen, CEO at Bitget.

The exclusive listing of SPARKLET on Bitget’s launchpool provides its users with early access to Upland’s first-ever tradable token. This also allows Upland’s current users to use their SPARKLET airdrops for further trading on a sophisticated platform such as Bitget. Previously, Bitget’s launchpool listed high potential projects such as Merlin Chain (MERL), Ethena (ENA), ZetaChain (ZETA) and more.

To participate, users can visit SPARKLET launchpool on Bitget, enter preferred staking amount and earn tokens within a few clicks.

For more information on getting exclusive access to SPARKLET tokens, please visit here.

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About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

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Blockchain

YOM expands its cloud gaming DePIN from Solana to peaq to run its NFT node sale

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peaq, the layer-1 blockchain for DePIN and Machine RWAs, announces the expansion of its ecosystem as YOM, the cloud gaming and interactive experience DePIN, unveils its plan to expand to peaq from Solana. YOM enables gamers to earn crypto from their advanced rigs by lending their idle computational power to its DePIN. As the first step toward integrating peaq, YOM will launch its recently-unveiled Genesis Series as the first NFT Node Mint on the peaq blockchain. It will also explore further venues for more collaborations and integrations in the future.

Projected to grow to $312 billion in total revenue by 2027, the video game industry is a powerhouse in the wider entertainment segment, leaving both Hollywood and the music industry far behind. Cloud gaming services, which stream games to the user’s devices such as a smart TV or even a smartphone, are a promising sector in this industry, as they deliver AAA-tier gaming experiences without having to purchase a high-end PC or a console. However, in Web2, such services have to rely on massive data centers, which invokes environmental concerns and further strains the GPU market amid soaring demand from the AI industry. Besides, such data centers are costly to build and operate and often struggle to deliver the content at a comfortable latency.

YOM changes the game by ditching Web2 data centers. Instead, it taps idle personal gaming rigs, leveraging their powerful hardware to remotely run games and interactive experiences and stream them to any devices via their web browsers. The rigs’ owners earn rewards in crypto for every game hour they stream. YOM’s platform currently supports Unreal Engine 5 — one of the industry’s most popular options both among AAA studios and indie developers. The DePIN makes for a more sustainable approach to cloud gaming, with lower hosting costs and low latency, all while enabling gamers to earn revenue from their advanced hardware.

YOM’s strategic integration of peaq will begin with a node sale, where the community will be able to buy YOM’s Genesis Node Licenses as NFTs minted on peaq. The NFTs will be necessary to join YOM’s DePIN as a node. Full details, including the dates and the eligibility criteria, can be found on the YOM site. The mechanism for the node sale will-be open-sourced, enabling other DePINs building on peaq to conduct similar events. After the node sale, YOM is excited to explore more prospective directions for the integration into the peaq ecosystem.

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“We are very excited to be working with a Layer-1 chain that has the ability to support us and other DePIN projects on both the ecosystem and technical front,” remarks Jeff Outlaw, CXO at YOM. “Their support frees up the time for our tech team to work on the cloud gaming network. We are working to bring AAA games and immersive experiences to a wider top-of-funnel market as fast as possible, and building with peaq means we can skip a few crucial steps by leveraging its Modular DePIN Functions. All of our focus is now on bringing games to gamers!”

“The gaming industry is a staple of today’s digital entertainment market,” says Leonard Dorlöchter, co-founder of peaq. “Web3 has already tried to take it on with play-to-earn games, but YOM’s approach is a lot more creative — and it truly gives gamers ownership over something they’re so passionate about while earning rewards from their expensive rigs. We are thrilled to see YOM join the peaq ecosystem and look forward to the change it brings about in the gaming world, working as the true Web3 gateway for the mainstream gaming community.”

YOM is the second DePIN to expand to peaq from Solana even before the former’s mainnet launch, which is slated to take place in the coming months. In April this year, MapMetrics, another project originally based on Solana, unveiled its plan to migrate to peaq after the initial announcement of a more limited integration. Also in April, dTelecom, originally building on Arbitrum, announced joining peaq as well.

The post YOM expands its cloud gaming DePIN from Solana to peaq to run its NFT node sale appeared first on HIPTHER Alerts.

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Blockchain Press Releases

Buy and Sell Crypto on X! Bybit Web3 Supports Solana Blinks

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DUBAI, UAE, July 23, 2024 /PRNewswire/ — Bybit, the world’s second-largest web3 platform by trading volume, continues to enhance user convenience and accessibility by integrating Solana Blinks into its Web3 ecosystem. This integration reflects Bybit Web3’s commitment to simplifying user access and enhancing the convenience of engaging with cryptocurrencies.

Bridging the Gap Between Web2 and Web3

Bybit Web3’s support for Blinks eliminates the friction between their Web2 environments and the exciting possibilities of Web3. Users can now seamlessly interact with the decentralized world, purchasing tokens or NFTs directly on X and effortlessly confirming transactions with their Bybit Web3 Wallet extension. This integration simplifies crypto engagement and opens the doors for a wider audience to participate in the future of finance.

“We are thrilled to support Blinks, bringing a new level of simplicity and convenience to our users. This integration allows us to bridge the gap between Web2 social platforms and the burgeoning Web3 ecosystem, empowering users to engage with crypto assets seamlessly,” said MK Chin, Bybit Web3 Evangelist.

Key Highlights of the Integration:

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  • Seamless Web3 Access: Users can now perform crypto transactions directly on X, bridging the gap between Web2 and Web3 environments.
  • Enhanced User Convenience: Bybit Web3’s support for BLINKS ensures a smooth and intuitive experience, allowing users to trade and manage crypto assets effortlessly.
  • Expanded Web3 Possibilities: This integration empowers users to share token purchases, airdrop campaigns, and more on social media, as well as complete trades and participate in campaigns directly within social media platforms like X.

A Shared Vision for a User-Friendly Web3 Future

We are excited to collaborate with Bybit Web3, who shares our vision of making Web3 accessible to end users. By supporting seamless access through popular social platforms such as X and across the internet, we are breaking down barriers and simplifying the entry into the Web3 ecosystem. This partnership exemplifies our commitment to innovation and inclusivity, ensuring that users can effortlessly engage with the future of finance and digital interactions,” added  Lily Liu, the President of Solana Foundation

For more information, please visit: https://www.bybit.com/en/web3/home

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 10 million wallet users, over 20 major ecosystem partners, and counting. 

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Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 33 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 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.

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For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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