Washington, Oct. 11, 2022 (GLOBE NEWSWIRE) -- GoodFirms, a globally renowned research, ratings, and reviews platform, recently released its new research report-"Edge Computing - Benefits, Applications, Challenges, and Opportunities." It attempts to uncover valuable insights into the application use cases, benefits, challenges, and opportunities in edge computing.
The study highlights how edge computing is transforming the existing computing architectures and network traffic in collaboration with a spectrum of rising new technologies, including AI, communication technologies, deep learning, big data, and 5G. The research also analyzes how edge computing, with its decentralized computing framework, brings computing closer to end users/devices so that businesses requiring real-time data do not suffer latency issues.
The report provides an overview stating that 17.4% of surveyed businesses have already moved towards edge computing. The survey report further analyzes how edge computing supplements cloud computing architecture, details the current edge computing market share, and provides insights on the difference between edge vs. cloud computing.
Research has identified the top factors considered by businesses before switching to different computing technology. 71.6% indicate switching to a different computing regime for fast responses, 68.7% for cost-effectiveness, 49.1% for data privacy, 32.1% for reliability, 21.4% for added functionalities, 7.9% for required bandwidth, and 3.4% for software and hardware requirements.
Further, the survey has also revealed the key driving factors that promote edge computing growth initiatives, such as issues associated with other data computing technologies, including cloud computing, cost-effectiveness, increase in the use of IoT devices, and introduction to 5G.
The research further discloses the top benefits of edge computing: reduced latency, processing volumes of data without hassle, enhanced privacy, easier remote operations, and cost-effectiveness. It also highlighted the top application use cases of edge computing in healthcare, industrial and on-field IoT, autonomous vehicles, point of sales, security systems, and smart cities.
The research analyzes the key challenges that organizations can encounter even after adopting edge computing. 74.1% of surveyees reported data management complexities, 62.1% mentioned network security risks, and 58.2% said scaling complexities as the top challenges in edge computing implementation. Other challenges reported by surveyed organizations include maintenance issues, speed bottlenecks, limitation on bandwidths, high volume data accumulation at the edge centers, connectivity issues, utilizing edge computing investment, life cycle management issues, and identifying all use cases for the organization.
Further, the research predicts that edge computing costs will be decreased in the future, and 5G technology will heavily rely on it to enhance the speed and reduce the latency required in real-time data processing.
GoodFirms concludes that despite the challenges, edge computing brings new opportunities for data analytics, machine learning, and security concerns, leading to more efficient and effective operations. ‘Edge computing is expected to have a broad scope in various sectors in the upcoming times’, says GoodFirms.
Key Findings:
- Edge computing is a distributed computing paradigm that allows data processing at edge nodes placed at several locations.
- Edge computing brings data processing closer to the sources of data, reducing the distance between the source and destination.
- Using edge computing considerably reduces the latency in receiving responses, making it a choice when applications do not tolerate latency.
- 71.6% of organizations indicated quick responses as one of the main reasons for switching to a different data computing technology.
- 81.1% of organizations expressed security problems in their current data computing technology.
- One of the significant objections to adopting edge computing is the lack of standardization of protocols among various vendors.
- The key advantages of edge computing include reduced latency, enhanced response time, and decreased bandwidth requirement.
- 71.3% of surveyees stated that edge computing costs would reduce in the future
- 54.6% of organizations think 5G technology will heavily rely on edge computing.
About Research:
GoodFirms Survey-"Edge Computing - Benefits, Applications, Challenges, and Opportunities" was conducted from 15 September 2022 to 21 September 2022. The survey queried businesses regarding their existing computing infrastructure, edge computing initiatives, and future plans to shift to different computing technology. A total of 390 participants responded to the survey.
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