Edge computing refers to the network paradigm that brings cloud computing services such as network and storage closer to the consumer. Although cloud edge computing is a relatively new technology, it has taken the cloud computing world by storm. The goal of cloud edge computing is to improve on response time and save on bandwidth. The global edge computing market value was $1,756.5 million USD in 2019. These already impressive numbers expect to reach a total value of $8,294.5 million USD by the end of 2025. The most prominent industry that is predicted to embrace the adoption of edge computing services is BFSI (banking, financial services, and insurance providers).
The Compound Annual Growth Rate is expected to reach 29.5% between the time period of 2019 to 2025. In this six-year period, businesses will experience new levels of performance otherwise unavailable before emerging cloud-based technologies. Some of the most significant market drivers for edge computing are artificial intelligence (AI) and Internet of Things (IoT). Huawei predicts that with more than 50 billion devices connected by 2020, over 50% of data may be analyzed, processed, and stored in edge networks.
Want to learn more about edge computing? Luckily for you, the team of experts at VEXXHOST is here to help guide you through some use cases and benefits of edge computing:
Use Cases And Benefits Of Edge Computing
One of the main purposes of edge computing is to ensure that the outskirts of the administrative domain are closer to discrete data sources of end-users. That being said, there are many workload requirements that could benefit from distributed architecture. Data analytics, security, and compliance requirements can all be improved through cloud edge computing.
In data analytics, anywhere where data is collected from large networks of microsites can benefit from cloud edge computing. Edge devices are capable of producing terabytes of data. This means that the analytics are closer to the source of the information. Sending smaller batches of condensed data back to centralized systems saves on both time and overall costs.
As technology becomes more advanced so do new attacks on security systems. Cloud edge computing helps to address new threats by moving security elements closer to the source of potential attacks. Therefore, security applications are able to not only perform better but also increase the number of layers of security that protect confidential information.
Cloud edge computing has the power to restrict data access based on geographical location, limit data streams, and store information with specific regulations in place. As compliance is such an important part of your cloud infrastructure, edge computing can help with everything from geofencing to copyright enforcement.
OpenStack & Edge Computing
OpenStack, although still in the early stages of supporting edge computing, is able to provide the essential cloud infrastructure that can work to deploy anywhere, including edge networks. As the vibrant OpenStack foundation and community continue to look and work towards exciting evolutions in cloud computing, the more innovations such as edge computing will be highlighted as beneficial to cloud solutions. Did you know that OpenStack is one of the most highly distributed infrastructure software available? This makes it ideal for edge computing services. Is your business ready to get started with cloud edge computing? An OpenStack powered cloud solution can help you get there. Contact our team of experts today to learn more.