TECH

The edge-computing market is to be worth about $ 7 billion by 2024

Edge computing is a rapidly emerging industry that may be closely associated with others such as machine learning in the future. Its market is now projected to be worth $ 6.9 billion in the next 5 years. This is thought to be driven by its use in 5G and smart-city applications.
The edge-computing market was estimated to be worth US $ 1,272 billion in 2018. However, it is now projected to attain to US $ 6,959 billion by 2024. Therefore, it may grow at a compound annual rate of approximately 34% over those 5 years.
Edge computing can be used to facilitate applications or process data in the internet of things (IoT), artificial intelligence, and machine learning. It may also play a role in the industrial IoT, and also in the emerging 5G industry. This is thought to be due to the fact that increasing volumes of data will reach devices from cell towers with increasing speed, and will need to be managed accordingly.
Edge computing is also thought to deliver smart cities, a concept that is gathering weight in Europe and the US and may spread to other regions in the near future. However, it is also projected that edge will become important for consumers who use mobile banking or payments, and to the institutions that provide the apps on which it is done. by Deirdre O Donnell