The global Internet of Things (IoT) market is expected to surpass $1 trillion in revenue in 2024 as the world recovers from the pandemic. Enterprise IoT could take over 70% of his market share, edge computing could at least “dramatically” improve data processing for mission-critical applications, according to a study by data and analytics firm GlobalData. Adoption of Industry 4.0.
In that report, Scaling at the Edge: How Edge Computing Enhances Data ProcessingAt , analysts highlight how edge computing is improving data processing in various areas across the technology value chain.
Edge computing says it will disrupt many areas in the Industry 4.0 era with its “cutting-edge” capabilities. This technology can help improve data management and analysis while significantly increasing the value of IoT initiatives, and it’s safe to assume that more use cases will emerge as the technology matures further.
For the latter, analysts cited California tech startup Wistron AiEdge, Israel-based telecommunications access services company RAD, and Dubai Integrated Economic Zone Authority (DIEZ).
Wistron has created an Artificial Intelligence of Things (AIoT) and data-driven fleet management platform called ZigFleet, designed to help administrators efficiently monitor and manage their fleets.
It also helps reduce car accidents, guide less experienced drivers in new areas, and optimize fleet routes. This brings optimal productivity and profitability to your business, while being greener in terms of energy usage and carbon footprint.
RAD has developed SecFlow, an Industrial Internet of Things (IIoT) gateway for remote end-to-end (E2E) asset monitoring. In deployments, SecFlow’s edge computing capabilities enable local data processing by assets with many sensors instead of using a centralized control system. This is intended to allow functional flexibility while reducing equipment costs and space requirements.
DIEZ is working with UAE telecommunications giant du and US-based software development startup Derq to develop smart city services. They aim to collect and combine data from IoT traffic cameras and sensors to enable infrastructure awareness while performing real-time edge analytics. It is designed to enable Vehicle-to-Everything (V2X) or 5G applications, actionable transport and safety insights, and build effective city organizations and systems that improve quality of life. .
“Edge computing technology is the missing link for IoT because it processes data at the network edge, rather than sending it back to the cloud or data center. devices and data,” said Kiran Raj, Practice Head of Disruptive Technologies at GlobalData.
Abhishek Paul Choudhury, Senior Disruptive Technology Analyst at GlobalData, said: “This will help enhance enterprise privacy, security, scalability and resilience.”