The global edge computing market size is anticipated to reach USD 61.14 billion by 2028, exhibiting a CAGR of 38.4% over the forecast period, according to a new report by Grand View Research, Inc. The amalgamation of Artificial Intelligence (AI) into the edge ecosystem is expected to drive market growth. An edge AI system is expected to help enterprises make real-time decisions in a matter of milliseconds. The need to eliminate the privacy issues associated with transmitting large amounts of data and issues related to latency and bandwidth, which reduce the data transmission capacity of an organization, are expected to drive the market growth over the next few years.
Precision monitoring and machinery control are some use cases that would be well suited to be using AI in the edge. The latency requirement at a fast operating production line must be kept minimal, which can be achieved by deploying the edge. Processing data closer to the manufacturing plant can prove to be highly valuable, which can be achieved by deploying AI. AI-based edge devices such as chips can be used in multiple endpoint devices such as smartphones, cameras, sensors, and other IoT devices.
Furthermore, the telecom edge is expected to grow exponentially over the forecast period. The telecom edge shall perform computing close to the mini-data centers, which are owned and operated by the telco on a telco-owned property. Various telecom providers such as Telefonica and Telstra are engaging in pilot projects and prototypes of an open-access network incorporated with edge computing. Edge will spearhead the telecom sector once 5G is entirely rolled out. The telecom sector is in an exclusive position to benefit from edge computing, but telecom companies risk being relegated to irrelevant edge providers if they do not move up the value chain.
Currently, edge computing use cases have exceeded initial infrastructure deployments and are expected to provide an impetus to emerging edge computing use cases and infrastructure investments. Over the forecast period, edge computing is expected to become pervasive and transition toward platform-centric solutions. With this transition, edge platforms could reduce the infrastructure complexity using sophisticated management and orchestration software, and develop user-friendly environments for developers to deploy innovative edge applications and services with relative ease.
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