It's no surprise that these capabilities are driving rapid growth in edge computing: The global market is estimated to expand by a compound annual growth rate of nearly 20% to reach over $8.8 billion by the end of 2025. Yet building out IoT edge capabilities will require significant planning. Environments demand a complex blend of networks, servers, software and devices.
IoT edge computing devices such as edge routers, sensors, actuators and gateways are key pieces of hardware. They provide connectivity between different networks and may also collect, process and store data at the edge. Other important components include applications, secure gateways, servers and hosting infrastructure.
Experts agree that edge computing will enhance the ROI of IoT projects, although it's difficult to say how quickly, as no two initiatives are the same. However, given the complexity involved, CTOs may benefit most from choosing combined solutions from proven providers and partners that integrate 5G networks, edge computing, IoT and cloud capabilities as tightly as possible.
Although choosing individual components may look cheaper at first glance, integration and deployment costs may soon mount. With unified, business-ready offerings, IT leaders can accelerate time-to-value to drive innovation, productivity and growth.
Learn more about how Verizon's 5G Edge can unlock IoT value for your business.