Edge deployments can be seen across different industries, so you should be aware of the edge computing trends. Besides, as a myriad of edge computing devices including smartwatches, smartphones, and autonomous vehicles hit the market, senior stakeholders and technology officers need to stay afloat with the current edge computing trends.
After years and years of development, edge computing is gaining considerable popularity. In addition, investments in the edge computing space have also seen notable growth over the past few years. Did you know that 30 companies operating in the edge computing space have successfully raised $3.1 billion in external funding [1]? As more and more businesses become aware of the current edge computing trends, this number is expected to grow in the coming years.
SEE ALSO: Edge Computing vs Cloud Computing: Meaning, Types, Examples & Differences
Here are some edge computing trends you need to watch in 2022
1. Internet of Things (IoT)
One of the fastest-growing components within the edge computing umbrella is the internet of things (IoT). IoT devices include smart wearables, gaming systems, printers, smartphones, and smart devices. A report from Statista suggests that the number of smart devices is expected to witness a fourfold growth by the end of 2025 [2].
This projected growth in the number of smart devices will drive the growth of the edge computing industry in the future. Besides, IoT devices are also expected to transform the education and healthcare industry.
2. Customer experience
Businesses are exploring the possibility of leveraging edge computing to improve customer experience. The reduced latency of edge computing is enabling businesses to offer the most seamless customer experience. Big brands including Disney are using IoT sensors and edge computing to showcase the performance metrics of their rides. Disney tweaks the specifications of the rides based on the data collected to optimize attractions and rides and minimize disruptions for patrons.
The low latency of edge computing allows marketers and companies to process customer data in real-time. Hence, we can expect businesses to provide even more interactive and personalized customer experiences using chatbots and offline interactions.
3. Edge computing in healthcare
Out of all the industries, the healthcare sector has shown great interest in IoT. Hence, it does not come as a surprise that edge computing has been embraced with open arms by the healthcare industry. A lot of big hospitals are recognizing the benefits of keeping data including electronic health records, imaging systems, and more instead of transferring it to the cloud.
Very recently, Red Hat joined forces with HCA Healthcare to brainstorm and build a real-time sepsis diagnostics solution. With edge computing, HCA healthcare could minimize the long and time-consuming process by almost a day. Since then, the adoption of edge computing has witnessed a surge across the healthcare sector.
4. Security
Cybersecurity is an elephant in the room that needs to be addressed at the earliest, especially in the cloud computing and AI space. A host of new technologies including IoT and 5G put forward a bunch of cybersecurity vulnerabilities. Having said that, edge computing is being used to fill in these gaps.
Traditional data storage and centralized networks provide attackers with a single hub to target. With edge computing, the network is diversified and offers greater security. We are not saying that edge computing is free from security threats. One of the major threats linked with edge computing is a significant rise in physical data sources.
As the technology primarily depends on physical sources that need to be placed in the real-world, physical attackers are given additional targets to attack their networks. Hence, it is very likely that companies will spend great amounts of money to resolve edge computing’s security flaws.
5. Edge computing in oil and energy
One of the most noteworthy benefits of edge computing can be seen in its application in the oil and energy industry. These sectors have typically relied on data collection and transmission to observational hubs that are not in close proximity. This essentially means that if there were sensors tracking electrical conductivity and pressure, data transmission would take place only after a critical failure has occurred. However, with the arrival of edge computing, these barriers can be overcome and resolved in a much more efficient manner.
6. Adoption of edge computing in retail to grow
According to Worldwide Retail 2022 Predictions, around 90% of the top 2000 retailers are likely to deploy edge computing to leverage the power of data to boost in-store productivity and customer experience while decreasing costs by around 20%. In certain retail-specific cases, wherein latency-dependent and data-intensive processing is required most, edge computing is likely to take over and streamline operations and optimize the customer experience.
7. 5G network will impact the edge
Even though 5G is tipped to be the future of mobile connectivity, its interconnects will have an impact on smart devices and edge computing. Faster networks will pave the way for smooth and seamless connectivity of edge devices.
Edge computing vs cloud computing: the real winner?
Although edge computing is progressing at a breathtaking speed, cloud computing will continue to be relevant across different industries. While there is a notion that edge and the cloud are in competition with each other, many industry experts believe that it is not the case. In fact, many companies are striving to understand.
Edge computing vs cloud computing: the real winner?
Although edge computing is progressing at a breathtaking speed, cloud computing will continue to be relevant across different industries. While there is a notion that edge and the cloud are in competition with each other, many industry experts believe that it is not the case. In fact, many companies are striving to understand how they can deploy both technologies selectively for different functions of their business.
Moving ahead, we predict that functions that are best handled by a commuting division between local network resources and end devices will move to the edge. On the other hand, big data applications that primarily benefit from aggregating data and processing it via analytics and machine learning algorithms in hyper-scale data centers will remain on the cloud. In fact, system architects who understand the nuances of these technologies and identify how they can use them for different applications are more likely to succeed moving forward.
Want to know more about the difference between edge computing and cloud computing?
Read our blog: Edge Computing vs Cloud Computing: Meaning, Types, Examples & Differences
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Feature Image Source: Image by Gerd Altmann from Pixabay
Image 1 Source: Image by mohamed Hassan from Pixabay
Image 2 Source: rawpixel.com
Sources:
[1] (2019) “Edge computing investments are just beginning” [online] Available from: https://stlpartners.com/articles/edge-computing/edge-computing-investments-are-just-beginning/ [accessed May 2022]
[2] Lionel. S (2021) “Forecast end-user spending on IoT solutions worldwide from 2017 to 2025” Statista [online] Available from: https://www.statista.com/statistics/976313/global-iot-market-size/ [accessed May 2022]
