Edge Computing Market Expected to Grow 1000% by 2024

Mobile Edge Computing seems to be one of the most popular emerging technologies according to a new report by Mobile Experts. The current impact of the edge computing market sat at around $240 million at the end of 2018, but the report suggests that the industry may be worth as much as $2 billion by 2024. The convergence of cloud computing and mobile connectivity is slated to drive demand in the market as well as fuel more enterprise-level applications that take advantage of both technological advances.

Edge computing architecture offers companies a way to use more reliable, faster speed connectivity to industrial automation and consumer-based products. Cloud computing enables enterprises to move their infrastructure onto the cloud and allow their systems to function without the traditional bottlenecks that cloud computing has when dealing with large volumes of data. Already, companies have incorporated technology that utilizes the cloud, and with better mobile connectivity, businesses can further enhance their levels of automation.

Reliability, Stability, and Speed in Mobile networks

New technology like LTE/5G can go on to fuel consumer-based applications such as cloud gaming, promoting businesses to look into the establishment of “micro data centers” that specialize in the delivery of these services to consumers. The report notes that companies may scale down their operations from massive data centers into a series of interconnected nodes that form a hub. The premise is that these interconnected hubs will offer a more efficient connection for consumers while reducing overhead of maintaining a massive data center for the provider.

Edge computing demonstrates the point where telecommunications and cloud services meet, and by leveraging new technology to suit consumer needs, enterprises can capitalize on the technological innovations in new and exciting ways. In the short term, the market is expected to explode with new providers competing alongside established ones to control a part of the market.