Mass adoption of IoT applications and smart devices fueling expansion of edge computing market
The edge computing market continues to grow, according to a recent global industry trend analysis by Persistence Market Research. The report says the uptick in the market is largely due to the increased use of the internet of things (IoT) applications and other smart devices.
Edge computing refers to data processing power at the edge of a network rather than in a cloud or central data warehouse. IoT applications like smart traffic lights and manufacturing rely on edge computing in order to process and exchange data in real time quickly. Although edge computing isn’t regarded as a substitute for the cloud, it has been heralded as a sufficient way to manage the massive amount of data collected by internet connected devices that demand low latency.
The major factors fueling market growth include increased usage of edge computing within IoT, agriculture, defense and security, according to the report. Farmers are increasingly using these technologies to help them produce more food, monitor the land and boost productivity. The surge of multifarious smart devices among consumers has also played a dominant role in expanding the market.
While the edge computing market is growing, it is not emerging as quick as it could be. Security and privacy are the greatest stumbling blocks holding back the market. It is fairly easy for cyber criminals to take control of devices at the network edge and obtain sensitive data. Just the other week, for example, approximately 143 American consumers sensitive personal information was exposed in wake of a data breach at Equifax, one of the country’s three major credit reporting agencies. Other barriers suppressing market growth include determining the intelligence level of devices and which processes can be done completely automatically.
The report noted that North America holds the largest market share because of the mass adoption of edge computing across multiple industries for smart devices, IoT implementation and agriculture. Moreover, smaller companies have started adopting these technologies by accessing them through the cloud. The edge computing market is also experiencing growth in Europe, according to the report, due to increased demand for devices that enable companies to disseminate resources and data across multiple cloud environments.
