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As the world recovers from the pandemic, the global internet of things (IoT) market is anticipated to surpass $1tn in revenue in 2024. Enterprise IoT could account for over 70% of the market share, according to a study from data and analytics company GlobalData, which identifies edge computing as holding a promise to no less than “dramatically” improve data processing for mission-critical applications and accelerate the adoption of Industry 4.0.
In its report, Scaling at the edge: How edge computing is augmenting data processing, the analyst highlights how edge computing is improving data processing in various sectors across the technology’s value chain.
It said edge computing is set to disrupt many sectors in the Industry 4.0 era with its “cutting-edge” capabilities. It’s of the view that it would be safe to assume the technology will aid in the better management and analysis of data while significantly increasing the value of IoT efforts, and that more use cases will emerge as the technology matures further.
Wistron has created an artificial intelligence of things (AIoT) and data-driven fleet management platform called ZigFleet, designed to enable managers to efficiently monitor and manage fleets.
It also helps to reduce auto accidents, mentors inexperienced drivers in new areas and optimises fleet routes. This offers businesses optimum productivity and profitability while being more environmentally friendly in terms of energy use and carbon emissions.
For its part, RAD has developed an industrial internet of things (IIoT) gateway, SecFlow, for remote end-to-end (E2E) asset monitoring. In the deployment, SecFlow’s edge computing capabilities enable local data processing by assets with numerous sensors instead of using a centralised control system. This is intended to allow flexibility in functioning while reducing equipment costs and space requirements.
Read more about the IoT and Industry 4.0
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DIEZ has collaborated with leading UAE telco du and US-based software development startup Derq to develop smart city offerings. They aim to collect and combine data from IoT traffic cameras and sensors to execute real-time edge analytics while enabling infrastructure perception. This is designed to enable vehicle-to-everything (V2X) or 5G applications, actionable traffic and safety insights to build effective urban organisations and systems that can enhance the quality of life.
“Edge computing technology is the missing link of IoT as it processes data at the network edge instead of sending it back to the cloud or a datacentre, thus reducing the latency issue for businesses related to their internet and networking infrastructure impacted by the growing number of devices and data,” said Kiran Raj, practice head of disruptive tech at GlobalData.
“When augmented with artificial intelligence and 5G capabilities, edge computing can provide an effective and efficient means to analyse data in real time with minimum network latency and server failures,” said Abhishek Paul Choudhury, senior disruptive tech analyst at GlobalData. “This can help businesses with enhanced privacy, security, scalability and resiliency.”