Are you looking for the best edge computing stocks to buy? These could be some of the finest picks.

Edge computing is still under the radar, but it will be the next big thing, and a lot of money will be made. 

The edge computing market was worth $16 billion last year and is projected to reach $217 billion by 2032. That’s at a compound annual growth rate (CAGR) of 33.6%.

Edge computing is all about processing data right where it’s generated — at the “edge” of the network, instead of relying on data centers miles away. 

As we move into the future, the world will increasingly rely on edge computing to power trends such as artificial reality (AR), internet of things (IoT), self-driving cars and others that need data relayed at the point of contact.

In short, edge computing is one of the best investment opportunities this decade. Here are some of the best edge computing stocks you can buy now.

Verizon (VZ)

Verizon’s (NYSE:VZ) biggest revenue source is still its cell phone and wireless network business. However, edge computing is now a core part of the comms giant’s offerings. And with its brand recognition and stability, it’s one of the best edge computing stocks.

Verizon offers multi-access edge computing (MEC), where a service provider moves mobile workloads nearer to the client to increase throughput and reduce delays. 

Its edge computing service can improve various processes in manufacturing, transportation, entertainment and other industries.

Verizon’s share price has traded sideways over the past two years, but analysts are bullish on its long-term growth potential. 

Besides having an average Buy rating, Verizon stock saw Goldman Sachs initiate coverage this week — rating it a Buy, while investment analyst firm Morningstar believes “Verizon shares are attractive.” 

Deutsche Telekom (DTEGY)

Deutsche Telekom (OTCMKTS:DTEGY) is the biggest telecom operator in the EU, with over 252 million users and $100 billion in revenue. The company is now offering edge computing services through its subsidiary, T-Systems. 

Deutsche provides fully managed, end-to-end edge computing services to customers via T-Systems. Its edge computing product can also integrate with public cloud services like Azure, Amazon Web Services and Open Telekom Cloud.

This year, it’s been smooth sailing for the German firm, which reported strong first quarter earnings across all segments, per Reuters. It attributed the strong showing to an increasing customer base, price increases and lower energy costs,

Investors will also be happy to know of Telekom’s current Strong Buy rating, which suggests analysts are super bullish on its stock. For investors looking to dip their toes in edge computing, Telekom is one of the best edge computing stocks to bet on. 

Arista Networks (ANET)

Arista Networks (NYSE:ANET) is a tech company that builds highly scalable data center and cloud networking solutions, including edge computing. 

Everyone agrees Arista Networks is the de facto leader in this niche. Bill Gates even touted the company as one that could disrupt tech titans Google (NASDAQ:GOOG, NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) in cloud infrastructure.

Things also look good financially for the Santa Clara, Calif.-based firm. Shares climbed 7% after topping earnings expectations and delivering a stronger-than-expected Q1 outlook.

Analysts are also bullish on Arista. Out of 27 analysts, 16 recommend buying. Two rate it Overweight, eight rate it Neutral and just one rate it Sell. 

Investors will also be enthused by the fact that Arista stock has returned over 50% year to date (YTD). For investors looking for strong-performing edge computing stocks, Arista is hands down one of the best in the market.  

On the date of publication, Hope Mutie did not have (either directly or indirectly) any positions in the stocks mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com’s Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or
indirectly) any positions in the securities mentioned in this article.