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Driven by ongoing deployment of 5G networks, the global market for intelligent edge products and services is estimated to grow to $12 billion in 2021, according to the annual technology, media and telecommunications (TMT) study by Deloitte.
By 2023, 70% of enterprises are projected to run at least some of their data processing at the edge.
Deloitte says the intelligent edge, comprising advanced connectivity, compact processing power, and AI located near data-generating devices, is poised to “transform the computing landscape, propelling the world’s largest technology companies toward the next generation of connectivity and operational efficiency.”
Computing at the edge holds the promise of faster and less expensive operations in areas ranging from facial recognition for security to autonomous vehicles, robotics and the Internet of Things.
In the next few years, growth of the sector is expected to be led large telecoms, hyperscale service providers, content delivery network (CDN) providers, and technology companies, all as consumers or sellers of intelligent edge solutions.
With the COVID-19 crisis disrupting demand and increasing uncertainty, the intelligent edge market is likely to grow even faster.
"If we've learned anything during this challenging year, it's how critical technology, telecom, media, and entertainment innovation is for business continuity, keeping in touch with friends and family, appreciating new ways to entertain and learn, and taking care of our health," said Kevin Westcott, vice chairman and US Technology, Media and Telecom leader at Deloitte.
"The pandemic will continue to shape business strategies in 2021, and consumers will expect faster, more reliable and safer user experiences. TMT companies that can address these customer needs, while rebuilding their industries for growth, will likely emerge as leaders next year and beyond."