Chicago, Aug. 10, 2023 (GLOBE NEWSWIRE) — The global Edge Computing Market size is expected to grow from 53.6 billion in 2023 to USD 111.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period, according to a new report by MarketsandMarkets™. Edge computing solutions and services are gaining higher acceptance globally by large enterprises, mid-sized enterprises, and small enterprises owing to various benefits, such as growing adoption of automation, autonomous vehicles, connected car smart infrastructure, IoT benefits, and digitalization. The presence of several major edge computing providers along with multiple emerging startups/SMEs has made the market competitive, diversified, distinguished and catering to client customizations precisely. Numerous emerging players are providing niche, specific, and differentiated tailored offerings, catering to the target customers worldwide, those enterprises who demand customized solutions in order to carry out their operations.
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269 – Tables
58 – Figures
285 – Pages
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Scope of the Report
|Market size available for years||2017-2028|
|Base year considered||2022|
|Forecast units||Value (USD Million/USD Billion)|
|Segments covered||Components (Hardware, Software, and Services), Application (Smart Cities, Remote Monitoring), Organization Size, Vertical, and Regions|
|Regions covered||North America, Europe, Asia Pacific, Middle East and Africa, and Latin America|
|Companies covered||Cisco (US), AWS (US), Dell Technologies (US), Google (US), HPE (US), Huawei (China), IBM (US), Intel (US), Litmus Automation (US), Microsoft (US), Nokia (Finland), ADLINK (Taiwan), Axellio (US), Capgemini (France), ClearBlade (US), Digi International (US), Fastly (US) and many more.|
The IIoT (Industrial Internet of Things) application segment plays a crucial role in the edge computing market, as it represents a significant use case and driving force behind the adoption of edge computing technologies in industrial environments. IIoT refers to the integration of sensors, devices, and machinery within industrial settings to gather real-time data and enable smarter decision-making, automation, and optimization of industrial processes. Edge computing is particularly well-suited for IIoT applications due to its ability to process and analyze data locally, closer to the point of generation. This eliminates the need to transmit massive amounts of data to centralized cloud servers, reducing latency and improving response times for critical industrial operations.
By deploying edge computing in IIoT scenarios, industrial organizations can achieve faster insights and real-time analytics, enabling them to optimize production, enhance operational efficiency, and prevent costly downtime. Edge computing also offers the advantage of reliable connectivity in remote or harsh environments where maintaining continuous communication with centralized systems may be challenging. Furthermore, edge computing facilitates edge-based machine learning and AI algorithms, enabling intelligent decision-making at the edge. This capability empowers industrial systems to respond dynamically to changing conditions, perform predictive maintenance, and drive autonomous operations. Overall, the IIoT application segment is a key driver of the edge computing market, as it leverages edge technologies to transform industrial operations, enhance productivity, and unlock new possibilities for automation and optimization in various sectors, including manufacturing, energy, transportation, and agriculture. The combination of IIoT and edge computing offers tremendous potential for industrial organizations seeking to embrace digital transformation and achieve competitive advantages in today’s interconnected world.
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The software component of edge computing is gaining popularity in the marketing landscape of edge computing market during the forecast period, thereby recording the highest CAGR. The software segment plays a vital role in the edge computing market by providing the necessary tools, platforms, and applications to enable the efficient management, orchestration, and execution of edge computing environments. Software solutions tailored for edge computing offer a range of functionalities such as data ingestion, processing, analytics, security, and device management. These software offerings enable organizations to deploy, monitor, and control edge devices, as well as process and analyze data at the network edge. They also facilitate seamless integration with cloud services, enabling hybrid architectures that leverage both edge and centralized computing resources. Software solutions in the edge computing market empower businesses to harness the full potential of edge infrastructure, unlock actionable insights from real-time data, optimize performance, and drive intelligent decision-making at the edge of the network.
Telecommunication vertical is predicted to showcase aggressive and upward growing curve during the forecast period. Edge computing streamlines the traffic flow and facilitates real-time localized data analysis by providing high-bandwidth networks. Since security is a big concern with many IoT devices, edge gateways ensure higher protection. The telecom industry has also responded with 5G technology, where edge computing has a huge application, as 5G technology is imperative to speed, security, and scale. Many companies are testing the benefits of edge computing in 5G networks. For instance, Ericsson and Telstra collaborated to explore the use cases of 5G edge computing in the financial sector. Edge computing can help telecom providers boost network reach, a major reason for its adoption. According to a survey, ~87% of Tier-1 operators in North America, Western Europe, and Asia Pacific are planning or have edge computing in the deployment phase. The benefits of edge computing are numerous, and with the growth of 5G, the demand for edge computing is expected to grow enormously.
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Top Trends in Global Edge Computing Market:
- The rising usage of Internet of Things (IoT) devices was fuelling demand for edge computing. Edge computing allows IoT devices to process and analyse huge volumes of data closer to the source, lowering latency and boosting real-time decision-making.
- The deployment of 5G networks was expected to drive the use of edge computing. Edge computing is a crucial component of the 5G ecosystem due to 5G’s high bandwidth and low latency capabilities, which are well-suited for applications that demand real-time processing and analysis.
- Edge computing capabilities were being integrated with artificial intelligence (AI) and machine learning (ML), enabling more intelligent and autonomous edge devices. This trend was particularly relevant for applications such as driverless vehicles, industrial automation, and remote monitoring.
- Edge computing enables organisations to process data closer to its source, eliminating the need to transport all data to centralised cloud servers. This tendency contributes to the resolution of privacy problems, compliance issues, and bandwidth constraints.
- With data being processed and stored at the edge, security has become a top priority. A primary priority area was ensuring the security of edge devices, data, and device connectivity.
- Many organisations are implementing hybrid cloud-edge designs, in which data processing and storage take place both in the cloud and at the edge. This method provides flexibility, scalability, and efficient resource utilisation.
- Edge computing enables real-time data analytics at the source, allowing organisations to obtain insights and make choices without relying on centralised data centres.
- Edge computing was being investigated for specialised use cases in industries such as manufacturing, healthcare, transportation, and agriculture. The capacity of edge computing to provide real-time insights and decision-making proved especially helpful in these industries.
Key Industry Development:
- A variety of technological organizations, including cloud providers, hardware manufacturers, and software developers, were forging partnerships and collaborations to produce comprehensive edge computing solutions. These collaborations seek to pool expertise and resources in order to provide more integrated and seamless edge solutions.
- There was a surge in the development and use of specialized AI chipsets designed for edge computing applications. These chipsets were designed to handle AI tasks at the edge, allowing for faster and more efficient inference and decision-making.
- The number of open source projects and activities focusing on edge computing was increasing. These projects sought to offer standardized frameworks, tools, and platforms that developers and organizations could use to more quickly design and deploy edge applications.
- Businesses were concentrating on building data management solutions that were specifically designed for edge environments. These technologies attempted to address edge data storage, processing, and analytics concerns while maintaining data integrity and security.
- As data is processed and stored at the edge, the requirement for comprehensive edge security solutions has grown. Companies were establishing security standards and methods to protect edge devices, data, and communication channels.
- Platforms for managing and optimising edge computing resources were being created. These platforms sought to make it easier to install, monitor, and scale edge applications in distributed systems.
- Industries such as manufacturing, healthcare, energy, and retail were actively investigating and implementing edge computing for specialised use cases. Tailoring cutting-edge solutions to the specific needs of each industry enabled more efficient and productive operations.
- Advances in edge analytics allowed organizations to analyse data locally and extract real-time insights for fast decision-making. This trend was especially essential for applications that required low latency and quick feedback.
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ComplyCube Unveils No-ID Age Estimation to Address Growing Global Age-Restriction Regulations
SAN FRANCISCO, Oct. 2, 2023 /PRNewswire/ — ComplyCube, the global Identity Verification (IDV) platform, has launched a new Age Estimation feature to safeguard minors online and protect the vulnerable. The new capability complements its existing IDV-based Age Verification solution, offering an alternative to businesses that require a lower level of identity assurance.
The AI company says the new solution leverages advanced biometric technology to derive dependable age estimations from a single selfie in seconds. The bias-tested algorithm also examines the selfie for liveness signals to prevent presentation attacks, including screen replays, 3D masks, and deepfakes.
Furthermore, the new service boasts privacy-by-design capabilities, such as configurable automatic redaction for selfies customizable per jurisdictional regulations or use cases. This makes the service ideal for seamless age-gating across the globe while adding an extra layer of protection against spoofing.
“Our multi-step pipeline and data-centric approach have enabled us to tackle ethnic, genetic, age, and gender variance to provide our clients with a fair and robust age estimation,” explains Harry Varatharasan, Chief Data Scientist of ComplyCube.
The introduction of the new features comes as concerns mount over the ease with which minors can access inappropriate digital content. While some age-verification measures have been put in place, they are disturbingly simple to evade, especially when they are based solely on entering a birth date or are vulnerable to Virtual Private Network (VPN) manipulation. A UK-based study reports that 23% of minors say they can easily sidestep such VPN limitations, while another study highlights that a staggering 56% of children aged 11 to 16 have encountered explicit material online.
In response to these growing concerns, various jurisdictions are introducing robust regulatory frameworks aimed at mandating more rigorous age-verification procedures to enhance the safety of minors online. Key legislative efforts include the UK’s Online Safety Bill, the European Union’s Digital Services Act, and California’s Age-Appropriate Design Code Act. These laws aim to establish stricter guidelines and obligations for digital platforms, thereby creating a safer online environment for younger users.
Dr. Tarek Nechma, CEO of ComplyCube, adds that “the launch of our Age Estimation feature emphasizes our pledge to ensure that minors are shielded from content beyond their years while streamlining user experience for all and building trust at scale.”
Beyond its primary goal of safeguarding children online, the feature provides additional benefits to companies operating in regulated industries that fall under a lower level of scrutiny than financial institutions. Dating apps, e-commerce, gambling, gaming, and similar businesses can now:
Enhance User Experience: Age estimation streamlines age checks, promoting faster onboarding and better retention.Simplify Regulatory Adherence: Industries can effortlessly meet age-specific regulations, safeguarding their reputation and reducing legal risks.Ensure Data Minimization and Privacy: Estimating age masks or limits sensitive data collection, aligning with top-tier data protection standards.ComplyCube’s new Age Estimation solution offers a more streamlined approach to age verification. By reducing obstacles for users and enhancing conversion rates, it brings a balance of efficiency and trust. The one-stop-shop IDV platform also underscores its commitment to responsible digital interactions, especially when it comes to safeguarding minors.
ComplyCube is a top-tier SaaS platform specializing in Identity Verification (IDV), Anti-Money Laundering (AML), and Know Your Customer (KYC) compliance. It serves a diverse client range spanning financial services, telecommunications, transport, healthcare, e-commerce, cryptocurrency, FinTech, and more.
ComplyCube’s platform, which is ISO-certified and has received multiple awards, prides itself on offering the quickest omnichannel integration available in the market. Its Low/No-Code solutions, API, Mobile SDKs, Client Libraries, and CRM Integrations make this possible.
Visit www.complycube.com to learn more.
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UNLEASH World Returns to Showcase Fortune 500 Companies Transforming the Future of Work
From startups to the Fortune 500, the event will showcase the leaders and technologies changing the world of workSpeakers include senior HR and business leaders such as L’Oréal Deputy CEO, Barbara Lavernos, JB Academy Founder, Josh Bersin, Spotify CHRO, Katarina Berg, and Sodexo CHRO, Annick de Vanssay, as well as England Rugby legend, Jonny Wilkinson CBEImagine a future where the boundaries of HR are redefined, and business is transformed. That future becomes a reality this year at UNLEASH World 2023, as 5000+ HR leaders from 100+ countries will arrive for the industry gathering of the yearLONDON, Oct. 2, 2023 /PRNewswire/ — UNLEASH, the fastest-growing HR events across Europe and the US, returns to Paris for its 11th year on 17-18 October, 2023. Organised by UNLEASH, a global digital media and events business dedicated to HR, technology, learning and recruitment leaders, the flagship UNLEASH World conference has been the epicentre for HR, recruitment, learning expertise and tech influence for the last decade. This year, it returns to explore the transformative power of technologies such as AI in shaping the future of work.
Set across 12 theaters, UNLEASH World attendees will hear from visionary keynote speakers including CEOs from L’Oréal, Aliaxis and Roullier Group, CHROs from Airbus, Spotify and Sodexo, and Rugby legends, Jonny Wilkinson, CBE and Serge Betsen. With a diverse range of keynote speakers, interactive sessions, and networking opportunities, UNLEASH World provides cutting-edge insights and best practices for everyone – from CEOs to HR leaders and executives.
“UNLEASH is the most influential HR event in the world, where attendees are given the opportunity to meet the who’s who of the industry from some of the most exciting brands and employers in the world – under one roof, over two days of face-to-face meetings,” said Marc Coleman, CEO and Founder at UNLEASH. “Massive thanks too to our Headline Sponsors who are the heartbeat of the HR Industry and help ensure UNLEASH is the go-to global event for HR Leaders, including: AWS, Bob, Deloitte, Eightfold, Phenom, Qualtrics, SAP SuccessFactors, Visier, Workday, and Workhuman”.
Through keynotes on the main stage and further breakout stages, attendees will gain on some of the most pressing topics including:
Creating an Exponential Organization in the Modern EraThe Adaptive Enterprise – HR Technology in the Age of AITech & Human Harmony in a Hyper-Connected WorldHarnessing the Power of Resilience and ReinventionMastering Employee Connection and the Social Contract in Today’s Talent LandscapeThe speaker roster itself is star-studded with 200+ of the best in the HR industry with speakers including:
Jean-Claude Le Grand, CHRO, L’OréalKatarina Berg, CHRO, SpotifyJosh Bersin, Founder & CEO, The Josh Bersin CompanyNatalia Wallenberg, CHRO, Ahold DelhaizeSalim Ismail, Founder, OpenExOAnika Grant, CPO, UbisoftThierry Baril, CHRO, AirbusBeatriz Rodriguez, Chief Talent and DEIB Officer, BayerReza Moussavian, VP of People Products, ZalandoMaud Alvarez-Pereyre, Chief People & Transformation Officer, LVMHAndrew Elston, Global Head, Workforce Strategy Enablement, HSBCLaura Hingel, Global Head of Talent & Employer Branding, Christian DiorHenrik Hansen, VP Global Head of Integrated People Services, PhilipsDenise King, Vice President, Global Benefits and Payroll, MedtronicArtur Nejmark, Head of HRIS Operations, Volvo GroupIntroducing the UNLEASH World Startup Program: A veritable launchpad for trailblazing entrepreneurs in the HR and Future of Work. UNLEASH has been the launchpad for the future of HR Tech, this high-impact platform has already seen its network of startups raise an astounding €10 billion in funding. 2023 UNLEASH World Startup Award offers an unparalleled opportunity for early-stage companies to break through. Established in 2011, this accolade has proven to be more than just a trophy; it’s a gateway to funding and exponential growth. Our last four champions and runner-up’s secured game-changing funding within months. Those interested in entering the award can find out more here.
For more information, including the agenda and how to register for the event, visit https://www.unleash.ai/unleashworld.
UNLEASH is the go-to marketplace for human resources and breakthrough technologies that shape the future of work, and is an essential source of news, analysis and market trends that inspire and empower organisational leaders worldwide. UNLEASH is a platform to share ideas that work, network and do business, and its mission is to be the world’s number one destination and marketplace for human resources, recruitment and learning leaders globally. UNLEASH is headquartered in London, UK with operations across Europe and the United States.
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BACARDÍ® RUM TO LAUNCH THE FIRST A.I. POWERED ALBUM PRODUCED BY GRAMMY WINNER BOI-1DA
The latest evolution of the iconic rum brand’s Music Liberates Music programme will use cutting-edge generative A.I. software to give a global collective of artists including UK singer/songwriter Bellah access to Boi-1da’s best-in-class production talent.
HAMILTON, Bermuda, Oct. 2, 2023 /PRNewswire/ — Continuing its mission to support emerging talent, BACARDÍ and Grammy Award-winning producer Boi-1da are once again partnering to launch this year’s evolution of the longstanding ‘Music Liberates Music’ programme: The A.I. Powered Album. Dropping this November, The A.I. Powered Album will champion works by five global up-and-coming artists in a one-of-a-kind project exploring how A.I. can be positively leveraged to provide emerging talent unprecedented opportunities. For the first time since the campaign’s inception, each artist will have the opportunity to try out multiple demos with Boi-1da’s star-powered beats, using a generative A.I. trained on the award-winning producer’s sound, to ultimately finalise one incredible track. Together, the tracks will be offered to fans as the first-ever A.I. powered EP produced by Boi-1da.
The A.I. Powered Album will feature tracks from UK-based singer Bellah as well as Ghanian-raised rapper Blackway, American R&B singers Floyd Fuji and Kyle Dion, and Canadian R&B artist Savannah Ré. Over several weeks, each artist will feed their tracks into a state-of-the-art generative A.I. tool, which has been trained on a selection of beats from Boi-1da’s unreleased catalogue and will learn the sounds and cadence of his unique musical style. After submitting their demos to Boi-1da, each artist will work alongside him to refine their works, resulting in the EP’s final set of songs to be released this November.
Bellah, from North London, has a special knack for gliding over classic R&B instrumentals and captivating audiences. With a handful of EPs under her belt, the burgeoning British/Nigerian singer/songwriter has proven why she is at the forefront of the UK R&B industry. In her third and most recent piece, Adultsville, Bellah explores what it means to evolve into a woman in the modern world. It’s the inner page of a journal that, in looking back on her life and work as a whole, she describes as the “most transforming, traumatic, eye-opening, beautiful, and awful chapter of my life.”
With a style that combines traditional R&B with an Afro influence, Bellah’s very likable and sincere lyricism shines just as brightly as her voice. Her British-Nigerian ancestry lends an Afro influence to that unfiltered R&B, a sound that has been praised by Complex and BBC 1Xtra, which named her first hit their Track Of The Week. As a rising star in the music and entertainment industry, she’s already garnered a MOBO nomination, cementing her status as one of the most promising talents in the UK music scene. With over 1 million monthly listeners on Spotify, Bellah has captivated a wide audience with her music.
As with each Music Liberates Music programme, all proceeds from the project will directly benefit the participating artists. All copyright and subsequent revenue from the tracks will remain with the artists and Boi-1da. Fans can enjoy The A.I. Powered Album available for purchase as a limited-edition vinyl as well as for free on streaming platforms, such as Spotify, this November.
“This is the fifth year we’re bringing Music Liberates Music back for artists and fans alike. We’re proud to continually support emerging talent with new resources that fuel creativity and collaboration,” said Laila Mignoni, Global Head of Brand Marketing Communications for BACARDÍ rum. “Ultimately, our goal is to provide opportunity and access to rising artists in the industry, so it’s been exciting to broaden Boi-1da’s capabilities, allowing him to work with multiple artists on multiple tracks, simultaneously as one producer. We know the conversation around AI has been a challenging one, so approaching this project with the utmost respect and protection for the artist was key in developing this new tool. The technology is, and always should be, complementary to each artist’s work and protective of all the creatives involved.”
“I’m thrilled to work with BACARDÍ on this ground-breaking new iteration of Music Liberates Music exploring AI as a tool to enrich human creativity,” says Boi-1da. “One of the most fulfilling responsibilities I have as a producer is to work with up-and-coming talent. Through the A.I. Powered Album, we’ve provided unprecedented access to my personal production style. I’m able to work with an international collective of artists simultaneously, while still honouring their creative autonomy. Music as an art has continually grown thanks to innovative technology, and with AI, I believe we can revolutionise the music industry for good if we view it as a way to provide opportunities that enhance music’s human element, rather than replace it.”
For more information and updates on the launch of The A.I. Powered Album follow @bacardi_uk on all social channels or visit Bacardi.com.
About BACARDÍ® Rum – The World’s Most Awarded Rum In 1862, in the city of Santiago de Cuba, founder Don Facundo Bacardi Massó revolutionized the spirits industry when he created a light-bodied rum with a particularly smooth taste – BACARDÍ. The unique taste of BACARDÍ rum inspired cocktail pioneers to invent some of the world’s most famous recipes including the BACARDÍ Mojito, the BACARDÍ Daiquiri, the BACARDÍ Cuba Libre, the BACARDÍ Piña Colada and the BACARDÍ El Presidente. BACARDÍ rum is the world’s most awarded spirit, with more than 1,000 awards for quality, taste and innovation. Today, BACARDÍ rum is made mainly in Puerto Rico where it is crafted to ensure the taste remains the same today as it did when it was first blended in 1862. http://www.BACARDÍ.com/
The BACARDÍ brand is part of the portfolio of Bacardi Limited, headquartered in Hamilton, Bermuda. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited.
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