Artificial Intelligence
Edge Computing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
New York, April 15, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Edge Computing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06062848/?utm_source=GNW
– Traditionally, data management and analysis are performed in the cloud or data centers. However, the scenario seems to be changing, with the increasing penetration of network-related technologies and initiatives, such as smart manufacturing and smart cities.?
– Although the adoption is presently not common, over the forecast period, some large enterprises, especially across industries, such as telecom and manufacturing, are expected to use edge computing, especially in relation to IoT. With more than 50 billion connected devices, Huawei predicts that, by 2020, over 50% of data may be analyzed, processed, and stored in the network edge.
– Furthermore, the development of processing-intensive applications involving artificial intelligence, IoT, and machine learning (ML), which work on larger data sets and perform massive algorithmic parallelism on models (in order to improve business operations), has promoted the demand for localized compute, data storage, and network resources. Therefore, along with IoT and IIoT, the adoption of AI and ML is also driving the growth of edge computing.
– Edge computing is being led by initiatives, like OpenFog Consortium, which is an organization headed by vendors in the market, including Cisco, Intel, Microsoft, and Dell EMC, as well as academic institutions, like Princeton University and Purdue University. The consortium aims at developing reference architectures for fog and edge computing deployments.
– Edge computing is expected to play a vital role in the widespread adoption and working of technologies, such as AR/VR, autonomous vehicles, IoT, next-gen CDNs, next-gen cloud, and streaming games. For instance, edge computing may be vital in operating an autonomous vehicle network in the future, and such factors are influencing vendors to form a partnership to cater to the growing needs of these industries. For example, in July 2019, IBM Japan joined the Automotive Edge Computing Consortium (AECC), driving the best practices for the coming vehicles and computing convergence.
– The outbreak of COVID-19 is expected to influence the global industrial spending significantly over the coming years, due to the non-operational status of various industries. Various industrial enterprises are facing shut down due to regulations and lack of workforce. For instance, the automotive industry, which was already facing a slump in sales during 2019, is expected to observe the continued drop in sales till the end of 2020, and this is expected to significantly influence the production facilities spending on technological upgrades to enhance the production capacities.
– For instance, according to the ACEA, as of April 20, 2020, the EU wide production losses caused by factory shutdowns amounted to a loss of at least 2,068,832 motor vehicles, including passenger cars, vans, trucks, buses, and coaches. Such developments are expected to influence the enterprise’s decisions to adopt and invest in new technologies till the end of 2021.
Key Market Trends
BFSI is Expected to be the Prominent Industry to Adopt Edge Computing Solutions
– The financial and banking industry is expected to show a significant adoption of edge computing solutions, owing to the increasing adoption of digital and mobile banking initiatives. Also, the adoption of blockchain technology in the industry and mobile payments are certain factors further fueling the demand for edge computing in the industry.
– Effortless and seamless digital payment methods with maximum security and processing speeds act as key elements for enhancing the digital banking experience. As a result, several banks are deploying payment apps and services compatible with smart mobile devices. For instance, Barclays Bank adopted several technological advancements by supporting payment through smartwatches, such as Apple Watch and Fitbit, through its bPay.
– Mobile applications and mobile payments are other great sources of demand for edge computing in the financial and banking industry. Increasing support from third-party applications and a wide choice of banking applications that engage several customers through loyalty management programs are increasing the mobile payment traffic in urban regions.
– Furthermore, widespread adoption of blockchain has considerable potential to drive the consumption of edge computing services. Since the blockchain technology required high computing, it is expected to exhibit the fastest adoption of edge computing technology in the industry. For instance, in August 2019, Tech Mahindra and the financial technology firm, Adjoint, collaborated to provide blockchain solutions for secure enterprise financial management and insurance services.
Asia-Pacific to Witness the Highest Growth Rate
– The market for edge computing in China is anticipated to benefit from the investments from telecoms to roll out new technologies. Owing to the rapid growth of mobile services and the increase of operation cost pressure, the telecom industry in the country has taken measures to improve user experience, increase profits, optimize network operation, and enhance resource utilization efficiency by introducing new technologies and products.
– The manufacturers in Japan are trying to deploy edge computing technologies at their facilities, in order to improve the production efficiency by utilizing IoT or IoT devices. Mitsubishi Electric Corporation and Fanuc Corporation, a machine tool maker, formed consortiums to develop products for edge computing and unify standards, thereby, making up for the shortcomings of cloud computing.
– Over the last few years, Australia witnessed increasing optimism around emerging technologies, as businesses based out of the country benefited from AI, edge computing, and IoT, owing to the potent mix of government advocacy, manufacturing roots, and R&D know-how.
– As part of the Digital India initiative, the Government of India planned to give IoT a push in the country. The government has allocated funds worth INR 7,000 crore for the development of 100 smart cities powered by IoT devices. The government intends to control traffic, efficiently use water and power, and collect data using IoT sensors for healthcare and other services. According to NASSCOM, the Indian IoT market is expected to reach USD 15 billion by 2020 and constitute 5% of the global market.
Competitive Landscape
The competitive rivalry in the edge computing market among the existing players is faintly high and increasing, considering the inflow of new entrants into the market. Currently, the market is dominated by cloud-based IoT vendors, such as Amazon, Microsoft, and Google. Companies, like GE, which have the expertise of delivering edge computing solutions across different industries, including aerospace or manufacturing, also have significant market positions. Acquisitions, partnerships with industry participants, and new product/service rollouts have been the key competitive strategies exhibited by the vendors in the market. Some of the key developments in the market are:
– March 2020 – Google Cloud and AT&T announced a collaboration to help enterprises take advantage of Google Cloud’s technologies and capabilities using AT&T network connectivity at the edge, including 5G. These edge computing solutions will be powered by AT&T’s network and will utilize Google Cloud’s core capabilities in Kubernetes, Artificial Intelligence (AI), and machine learning (ML). By bringing Google Cloud’s compute and capabilities to the edge, businesses can achieve the goal of proximity to the customers.?
– March 2020 – Microsoft announced the acquisition of Affirmed Networks, which is a startup that offers fully virtualized cloud-native mobile network solutions. Microsoft wants to integrate Affirmed Networks’ technology into Microsoft Azure to let the telecommunications industry deploy and maintain 5G networks via Azure Edge Zones, which is a newly developed solution based on edge computing.
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Artificial Intelligence
Cyber insurtech BOXX partners with Zurich Insurance Group in Switzerland to introduce breakthrough personal cyber product
TORONTO, May 21, 2024 /PRNewswire/ — Award-winning global Insurtech BOXX Insurance Inc. that combines cyber insurance and security has announced the launch of a cutting-edge cyber risk solution in collaboration with Zurich Insurance Group in Switzerland, providing digital protection for individuals and families.
Recognizing the critical need for comprehensive protection against digital threats Zurich Insurance in Switzerland has partnered with technology partner BOXX Insurance to develop a user-friendly solution designed to help individuals and families better predict and prevent potential scams and digital threats.
Designed for simplicity, the app’s personalized experience puts users’ digital safety front and centre, featuring an easy-to-use interface designed by Zurich Insurance in Switzerland and developed by BOXX in close collaboration with Zurich. The App is now available in Switzerland offering support in English, German, French and Italian.
“We created this to give individuals and families what they want – an app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency,” explained Vishal Kundi, CEO and Founder, BOXX Insurance. “Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured,” Kundi added.
“An extensive research conducted by Zurich Insurance in Switzerland showed that many are not aware of online dangers and that around a quarter have already been victims of a cyber-attack. In addition, customers are simply overwhelmed with the range of cyber products,” says René Harlacher, Chief Underwriting Officer of Zurich Insurance in Switzerland. “At Zurich, it’s our mission to go beyond mere protection, and also offer our customers tools to help them build resilience and implement preventative measures against cyber risks. Based on these facts, we are expanding our cyber offering for private individuals so that we can provide them with support before, during and after a possible cyber-attack. This is exactly where our joint offering with BOXX Insurance comes in, as a way to lend additional support to our customers,” he adds.
The newly launched solution by Zurich Insurance in Switzerland focuses on providing essential services to help prevent digital threats combined with emergency assistance and support in case of an emergency. Delivered to end customers by Zurich, key features include:
Identity Protection: Identifies if personal data captured in the app shows up on the dark web and notifies users, providing help and advice to reduce threats of identity theft.Secure VPN: By creating a secure and encrypted internet connection the VPN protects data from potential threats such as hacking, identity theft, and phishing attacks. Secure WiFi: Scans WiFi networks for threats and helps proactively detect security issues.Safe Browsing: Warns against harmful websites and links to protect privacy and personal data.Device Protection: Checks and improves the security settings of devices. Devices with the Android operating system are additionally protected against viruses and malware.Password Manager: Creates and manages strong passwords and assists with their use.Edutainment: Educational content in an entertaining way to raise awareness of personal cyber security.Emergency Support and Assistance: Help and assistance from cyber security experts to provide support in cyber emergencies and for many other IT-related problems. The new offering is available here: https://www.zurich.ch/en/private-customers/living-events/cyberprotection/insurance-prevention
“From providing protection from the dangers of being connected at home and on the go, customers now have the means to keep their devices and data secure and have access to indispensable help in an emergency, all in one easy-to-use app,” Kundi added.
Zurich has been working with BOXX since 2021 and participated in BOXX’s Series A and Series B funding rounds. As a Zurich Global Ventures portfolio company, BOXX is proud to now extend the ongoing collaboration with Zurich to enable Swiss customers to be digitally safer.
About BOXX Insurance
BOXX Insurance Inc. helps businesses, individuals and families insure and defend against cyber threats. Privately-held with headquarters in Canada, BOXX has global offices in Toronto, Miami, Zurich, Dubai and Mumbai.
BOXX Insurance is an award-winning global cyber protection and insurance provider. We’re not a typical company. That’s by design. We’re serious about making the world a digitally safer place; creating real, positive changes for our clients and partners, and building a lasting legacy, from what we create, inside the BOXX.
Every day we’re improving the digital health of businesses, families and individuals around the world who rely on BOXX’s solutions and services to predict, prevent and insure them against cyber threats.
Media Contact: Sarah Madden, [email protected]
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ADELAIDE, Australia, May 21, 2024 /PRNewswire/ — Amp Energy (“Amp” or the “Company”) announced today it has finalised all required commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of the leading green hydrogen, green ammonia and advanced fuel projects in Australia. The agreements, which were executed with Iron Road Ltd, include the purchase of a 630-hectare parcel of land at Cape Hardy as well as finalised royalty structure and common user infrastructure agreement. Amp will continue to build upon development progress made since announcing the Strategic Framework Agreement with Iron Road Ltd in April 2023 to bring advanced fuel production capacity to Cape Hardy.
The Cape Hardy Advanced Fuels Precinct will provide production at scale with up to 10 GW of planned electrolyser capacity. Development will be structured to initially bring 1 GW online with incremental stages to reach 10 GW of total capacity. The project will both cater to the domestic Australian market, supporting the Australian Government’s net zero goals, while also featuring global export capabilities. To facilitate distribution, Cape Hardy will be equipped with Australia’s first purpose-built advanced fuels export terminal.
Amp has been in discussions to develop the Cape Hardy Advanced Fuels precinct, in collaboration with Iron Road Ltd and The Government of South Australia, for the past two years. During that time, Amp has made significant development progress. The project’s concept, design, and pre-Front End Engineering Design (FEED) phase have been studied and reviewed by two leading global engineering firms, Arup and Technip Technologies, as Amp targets completion of pre-FEED studies for the first 1 GW electrolyser phase over the next 9 months. FEED scoping and contracting is currently underway ahead of awarding the FEED contract in late 2024 or early 2025.
Desalinated water is to be sourced from the recently announced Northern Water Supply (NWS) seawater desalination plant that will be located at Cape Hardy to meet the project’s demand for electrolyser feed water, cooling water, process plant water, and fire water. Amp is co-funding pre-FID expenditures for the NWS project.
Additionally, Amp is working closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”). With continued support from the BDAC, Amp is confident the Cape Hardy Advanced Fuels Precinct will have a meaningful economic impact on the region. Amp currently estimates this will include approximately 4,000 direct and 6,000 indirect jobs for the first gigawatt of electrolyser capacity alone.
“We are seeing growing demand for Advanced Fuels both in Australia and abroad. This includes green ammonia, liquid hydrogen, methanol, and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will allow for large-scale production of these fuels that will be critical to the energy transition and achieving net zero targets. We could not be more excited about the project’s potential impact, and we are grateful for the partnership and continued support from Iron Road Ltd, the South Australian Government and BDAC as we progress full steam ahead on development” said Paul Ezekiel, Amp President and Co-founder.
Minister for Trade and Investment, Joe Szakacs said “The State Government recognises the strategic importance of the Cape Hardy Advanced Fuels Precinct attracting investment into the state for domestic and export opportunities, as there is an increasing flight to quality for hydrogen projects worldwide.”
About AmpAmp Energy is a global energy transition development platform, which delivers renewables, battery storage, Advanced Fuels and green AI data centers at scale, together with proprietary AI-enabled grid flexibility through its Amp X platform. Since its inception 15 years ago, Amp has developed and built or contracted 14 GW of assets globally. Amp is backed by major investments from institutional capital partners including global private equity firm the Carlyle Group, who has invested over US$440 million. The company has global operations throughout North America, the UK, Australia, Japan, and Spain.
For more information, please visit amp.energy
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TAIPEI, May 21, 2024 /PRNewswire/ — The GEEKOM A8, a highly anticipated Next-Gen AI mini PC with an AMD HawkPoint Ryzen 8040 processor, is now available.
The A8 employs a metal housing with rounded corners and anodized matte finish, giving it a gorgeous and stylish look. Having a footprint smaller than the palm of a hand, the mini PC will conveniently fit in all types of desktop arrangement and instantly elevate the aesthetics of any workspace.
There are two variants of the GEEKOM A8, users have the option to choose between two processors from the same AMD HawkPoint family: Ryzen 7 8845HS and Ryzen 9 8945HS. Both chips feature 8 Zen 4 CPU cores, 16 threads, 16MB L3 cache, an AMD Radeon 780M integrated GPU as well as a Ryzen AI Engine NPU, but the Ryzen 9 8945HS is designed to offer slightly better performance, thanks to its higher CPU and GPU frequencies.
With a greatly enhanced NPU, the A8 can execute 60% more AI workloads than mini PCs with last-generation Ryzen 7040 chips, allowing users to embrace a new era of AI computing. For average consumers, the A8 will quickly find answers to all questions and turn texts into images and videos. For business users, the A8 will automatically summarize notes, transcribe calls, and take meeting minutes. For professional content creators, the A8 will bring much faster AI-powered photo editing, quicker video output, and speedier multi-tasking, helping bring the most ambitious ideas to life. With the new IceBlast 1.5 cooling technology, the A8 can stay cool and stable even when tasks are loaded.
Besides its powerful performance, the A8 also offers a wide array of ports, including four USB-A (including three USB3.2 Gen2), two HDMI2.0, a 40Gbps USB4, a multi-function Type-C, an SDXC slot, and a 3.5mm audio jack. Users can choose to connect the mini PC to an eGPU, ultra high-speed portable storage, or up to four 4K displays.
The A8 is now available on GEEKOM’s independent website. The 8845HS and 8945HS variants are priced at €799 and €949 respectively. Regardless of the CPU option, each unit is preinstalled with 32GB dual-channel SO-DIMM DDR5-5600 RAM, a fast 1TB M.2 2280 PCIe4.0*4 SSD, a wireless card that supports WiFi 7 and Bluetooth 5.4, and a licensed copy of Windows 11 operating system.
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