Edge computing is one of the latest advances on the technological frontier of the business world.

In fact, the edge computing market has already started to grow and by 2027, it’s expected to reach USD 43.4 billion.

But what exactly is the edge computing definition? And what are some of the top edge computing companies and trends? Here’s why and how businesses are taking advantage of edge computing.

Business Meets IoT

Data computing is the umbrella term for processes such as cloud computing and edge computing.

Both the cloud and the edge transmit and receive data to and from “things” that use the internet. These “things” are otherwise known as IoT (Internet of Things) devices.

Businesses have implemented IoT in various parts of their service. For instance, companies with physical stock can use IoT devices to track shipments.

Using the internet, trackers transmit geological location details to a central network for users to see. Convenience and ease, among other advantages, are just a couple of reasons for edge computing in business.

What Is Edge Computing?

A principal analyst at ABI Research named Ryan Martin used a definition that highlighted the literal use of the word “edge.”

He defined edge computing relative to cloud computing with the hub-and-spokes model. In this model, the cloud “is the hub, and everything on the outside of the spokes is the edge.”

There is a distinction between the edge and the cloud, even though the two forms of computing are directly related.

“The cloud” is the central network that processes data. Meanwhile, “the edge” of the network is the digital exterior that transmits data back to IoT devices.

How Edge Computing Enhances Business

Central cloud computing tools such as ERP software, AR, VR are popular in the business tech realm.

These are cutting-edge technologies, but they increase the volume of data that needs to be processed. Since they send data to the central network, it’s easy for the network to get too concentrated with data at one time.

However, edge computing opens the flow of data since it operates outside of the centralized network.

Edge Computing Applications to Business

For businesses, quicker data processing can be critical. It can mean the difference between a negative or positive customer experience.

Quicker data processing has direct applications to customer support tools like chatbots. Chatbots that compute commands more efficiently provide faster service for customers.

Beyond speed, edge computing provides more opportunities for automated accurate processes. Therefore, it’s a perfect tool for quality assurance and automatic testing or maintenance. Water treatment facilities, oil distributors, and gas distributors have already discovered these advantages.

Edge computing enables predictive insights to be collected from the data processed by IoT devices. In the oil industry, this produces predictable oil prices. There is a special place in both the oil and the gas industry since they require comprehensive refinement processes.

For water treatment facilities, edge computing improves the accuracy of water refining processes. The gathered data registers the details of water contamination in real-time.

Edge Computing Is the Future

Overall, edge computing can process data more efficiently than centralized networks. With this increased ability, it’s no wonder businesses can use edge to advance their own lines of production and service.

Are you looking for more of the latest technology to advance your business? Stay tuned with more articles just like this!