Edge computing powers many of the worlds' latest innovations, such as the Internet of Things (IoT), autonomous vehicles, remote surgeries, and augmented reality (AR). As these technologies require essential capabilities to process and analyse vast quantities of data in real-time to produce actionable insights, edge computing can drive powerful transformations in how businesses utilise data and drive effective processes for decision-making.
With the increasing need for infrastructure to support an expanding connected devices ecosystem, as well as the acceleration of digital transformation initiatives within the Asia Pacific (APAC) region, analysts predict that edge computing in APAC will reach US$5.8 billion by 2024, representing a compound annual growth rate of 21% over five years. By then, APAC will become the second-largest edge computing market after North America.
In Singapore, the government is looking to integrate various automation capabilities across the city-state – including automated vehicles, drones, assistive robots and sensors – as part of its Smart Nation initiative. All these applications require the processing of highly time-sensitive data on the device itself or near the source of data, making edge computing an essential element to ensure the success of Singapore's digitalisation efforts.
