Blockchain Press Releases
Edge Computing Market size worth $ 11.92 Billion, Globally, by 2028 at 23.97% CAGR: Verified Market Research®
The “Global Edge Computing Market Size By Component, By Application, By Vertical, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Edge Computing Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Aug. 1, 2023 /PRNewswire/ — The Global Edge Computing Market is projected to grow at a CAGR of 23.97% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.98 Billion in 2020 and is expected to reach USD 11.92 Billion by the end of the forecast period.
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Browse in-depth TOC on “Edge Computing Market“
202 – Pages
126 – Tables
37 – Figures
Real-Time Data Processing and the IoT Revolution Fuel Growth in the Edge Computing Market
As the demand for real-time data processing and the increasing implementation of Internet of Things (IoT) technologies transform the digital landscape, the edge computing market is expanding quickly. By utilising decentralised processing capacity, edge computing, which is used to describe computational facilities close to data sources, enables mobile computing and Internet of Things applications. This technology, in contrast to conventional data centres, processes data directly on devices, minimising the need for internet traffic and encouraging quicker decision-making.
Edge computing has become more popular as a result of the growing strain that IoT proliferation has placed on cloud infrastructure. Businesses are adopting edge computing technologies, which hasten decision-making processes, across numerous industrial verticals.
Additionally, by addressing concerns about latency and expense associated with a complete IT infrastructure move to the cloud, telecom enterprises’ increased use of edge computing creates opportunities for the Edge Computing Market. Notably, organisations using IoT devices like sensors and actuators are increasingly adopting edge computing solutions including edge nodes, devices, and hyper-localized data centres.
One of the best examples of edge computing’s potential is Purdue University. The institution uses IoT sensors and gadgets to optimise plant growth and food production operations in partnership with a vendor of edge computing solutions. Purdue can effectively gather, integrate, analyse, and publish enormous amounts of sensor data by utilising wireless and edge computing technology. This results in time and cost savings, greater research accuracy, and quicker communication.
After the COVID-19 outbreak, the market for edge computing is expected to rise significantly. Low-latency connectivity and strong network security become essential as work-from-home arrangements become the new standard and the healthcare system increasingly relies on online consultations. As a result, during the next three to four years, the demand for edge computing solutions is anticipated to skyrocket.
Edge computing has developed into a solution-specific technology with specialised hardware for a range of uses. Over the projection period, several key use cases, including 5G and network function virtualization, streaming gaming, next-generation content delivery networks (CDNs), and cloud services, are expected to see significant development. This is the first steps towards a future internet environment where edge computing is widely accessible and has user-friendly interfaces for developers.
Although the Edge Computing Market has many advantages, issues with cybersecurity and hacking could limit its expansion. For the sector to have a secure and profitable future, these issues must be resolved. Moreover, due to the current structure of edge computing, there is a lack of standardization and challenges in edge computing processes and connectivity, which is the primary restraint for the Edge Computing Market growth. The significant capital expenditure required to deploy it could be the market’s biggest stumbling block. Edge computing’s main disadvantage is that it can potentially lead to an increase in vector attacks, which could cause a market decline.
Key Players in Edge Computing Market
IBM, Cisco, HPE, Huawei, GE Digital, Saguna Networks, Dell Technologies, Cloudflare, Inc, and Microsoft are among the leading companies pushing innovation and reshaping the edge computing market. These businesses are pioneers in market share, SWOT, key development strategies, product benchmarking, and market ranking analysis.
The processing and use of data has the potential to be revolutionised as the edge computing market grows. Edge computing is positioned for considerable development in the upcoming years thanks to its capacity to supplement cloud-based solutions and support the IoT revolution. However, to fully take advantage of the potential that lie ahead, industry players must work together to overcome cybersecurity challenges.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Edge Computing Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Edge Computing Market into Component, Application, Vertical, And Geography.
- Edge Computing Market, by Component
- Hardware
- Platform
- Services
- Edge Computing Market, by Application
- Industrial Internet of Things
- Smart Cities
- Remote Monitoring
- Others
- Edge Computing Market, by Vertical
- Telecommunications
- Media And Entertainment
- Government And Defense
- Others
- Edge Computing Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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Blockchain Press Releases
HTX Collaborates with Astar Network to Accelerate Blockchain Innovation through the TGE Catalyst Grant
SINGAPORE, May 8, 2024 /PRNewswire/ — The leading digital assets exchange HTX has collaborated with Astar Network, a blockchain that aims to become Polkadot’s “smart contract hub” and serves as a parachain for Polkadot, in support of its newly launched “TGE Catalyst Grant. This initiative marks a significant step forward in fostering innovation within the blockchain ecosystem, particularly through the Astar zkEVM platform.
The TGE Catalyst Grant is designed to empower emerging projects preparing for their Token Generation Events (TGE) on Astar’s zkEVM. This groundbreaking program provides a holistic support package that includes financial assistance, strategic collaboration with key opinion leaders, and robust marketing campaigns, all aimed at ensuring successful token launches.
“As an active participant in the blockchain sector, HTX is committed to supporting transformative projects that drive the industry forward. Our collaboration with Astar Network through the TGE Catalyst Grant underscores our HTX Ventures’ dedication to nurturing innovation and providing comprehensive market support from the outset,” said Edward, Managing Partner of HTX Ventures. “We are excited to work alongside Astar Network and other leading exchanges to facilitate a new generation of token projects, ensuring they have the tools and support needed to succeed.”
HTX Ventures, the global investment arm of the HTX, has been an investor in Astar Network since 2021, demonstrating a long-term commitment to the growth and success of Astar’s platform and its associated projects.
“We are deeply grateful for the support from HTX and their belief in our vision to expand the frontiers of blockchain technology.” said Astar Network, “This collaboration through the TGE Catalyst Grant not only accelerates our mission at Astar Network but also cultivates significant synergies that will enhance our joint efforts to drive global blockchain innovation. We are excited about the future and look forward to working together to bring about transformative impacts within the ecosystem.”
Key features of the TGE Catalyst Grant include:
- Strategic CEX Collaboration: Streamlining the listing process and boosting market momentum through collaborations with top CEXs including HTX.
- Unique Marketing and KOL Alliances: Utilizing Astar’s “SAMURAI Support” marketing framework to enhance project visibility and engagement within the Web3 community.
- Listing Acceleration Package: Offering financial support for marketing and promotional activities on CEXs, alongside liquidity advisory services and audit support to ensure project readiness and security.
HTX’s involvement in the TGE Catalyst Grant not only strengthens its portfolio of innovative blockchain services but also enhances its role as a catalyst in the decentralized finance (DeFi) landscape.
About HTX:
Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3.
Contact Details
Michael Wang
[email protected]
Company Website
https://www.htx.com/
About Astar:
Astar Network is the gateway for projects across enterprises, entertainment & gaming in Japan and beyond, driving global adoption and delivering web3 to billions. It leverages a cross-virtual machine powered by Polygon and Polkadot to offer customizable blockchain solutions that accelerate web3 adoption. With zk-powered Ethereum L2 Scaling (zkEVM), EVM, WASM, and a cutting-edge ecosystem, Astar delivers robust, secure, and interoperable web3 technology.
Astar zkEVM is the new Layer-2 solution to scale a web3 experience on Ethereum with zero knowledge (ZK) technology. Astar Network connects you to web3.
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Blockchain fragmentation, stemming from the proliferation of diverse blockchain networks, poses challenges for interoperability and seamless data exchange. In response, omnichain protocols emerge as a solution to bridge these fragmented ecosystems.
These protocols aim to create a unified framework that enables communication and data transfer across multiple blockchain networks. By establishing common standards and protocols, omnichain solutions facilitate interoperability, allowing different blockchains to interact seamlessly.
The adoption of omnichain protocols addresses key issues such as data silos, redundant processes, and inefficiencies caused by blockchain fragmentation. These protocols enable businesses and developers to leverage the strengths of various blockchain networks while mitigating the drawbacks of fragmentation.
With omnichain protocols, organizations can achieve greater flexibility, scalability, and efficiency in their blockchain implementations. These protocols provide a foundation for building interconnected blockchain ecosystems, fostering innovation and collaboration across industries.
As blockchain technology continues to evolve, omnichain protocols play a vital role in overcoming the challenges of blockchain fragmentation and unlocking the full potential of distributed ledger technology.
Source: cointepegraph.com
The post Omnichain protocols offer the answer to blockchain fragmentation appeared first on HIPTHER Alerts.
Germany’s state-owned bank, Kreditanstalt fuer Wiederaufbau (KfW), is set to embrace the digital age by issuing its first blockchain-based digital bond. This move signals the bank’s foray into blockchain technology and its commitment to driving its adoption in the financial sector.
The bond that KfW plans to issue will be tokenized, marking it as a ‘crypto security.’ This tokenization involves representing the bond on a blockchain, enabling validation of its transactional history and ownership.
Tokenizing bonds offers several advantages, including the automation of various aspects of bond management such as interest payments and maturity settlements. Additionally, it reduces the need for intermediaries in the process, thereby cutting down on overall transaction costs.
Melanie Kehr, a member of the Executive Board of KfW Group, expressed the bank’s innovative approach in testing new financial market products. She emphasized that the issuance of the digital bond under the German Electronic Securities Act reflects the bank’s commitment to exploring innovative solutions in the financial market.
The issuance of the blockchain-based bond marks a significant step for KfW, as it seeks to attract investors and enhance efficiency and scalability in bond transactions. Tim Armbruster, Treasurer at KfW, highlighted the importance of digitalization in increasing efficiency and scalability, emphasizing the bank’s goal of attracting a wide range of investors for the digital bond.
KfW plans to engage in dialogues with institutional investors in Europe to better understand their needs and explore the potential of blockchain technology in fintech. Cashlink Technologies GmbH, a Frankfurt-based fintech company, will serve as the crypto securities registrar for KfW, facilitating the issuance of the digital bond.
The decision by KfW to issue a blockchain-based digital bond underscores the growing interest in blockchain technology within the financial sector. It represents a significant step towards leveraging blockchain for innovation and efficiency in financial markets.
Source: cryptonews.com
The post State-owned German Bank Set to Introduce Blockchain-Backed Digital Bonds appeared first on HIPTHER Alerts.
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