Edge and 5G have emerged as leading areas of investment across industries and are seen as powerful ways to propel companies to the next level of digital transformation. These 5G and edge plans are especially evident in manufacturing and healthcare.

This is one of the main takeaways from a study by Google Cloud and Omdia. While this report is aimed at cloud service providers, it also provides valuable insights for enterprise users. "Manufacturing clearly sees an advantage opportunity, but others are not far behind," the study's authors noted. Edge is also making a strong rise in healthcare and retail.

Overall, 70% of companies expect to spend $100,000 or more on edge devices within the first 24 months of deployment. Nearly a quarter of industries are prepared to spend $1 million or more.

5G networks are a big part of the picture. Eight in 10 businesses believe the availability of 5G is important to benefit from edge computing, according to the survey. Additionally, seven in 10 businesses expect to invest marginally in the next 12 months.

Surveys show that real-time insights from cognitive analytics are driving 5G edge adoption. Business intelligence and automation deployments will more than double over the next 12 months, while monitoring and transactional cognitive analytics are the most widely deployed and planned. Additionally, edge initiatives will play a role in data storage and site mirroring, which will continue to gain momentum.

Of course, edge computing doesn't happen in a vacuum -- it's part of a broader transformation. Nearly 50 percent said edge computing is part of a network and connectivity transformation initiative, and a third said edge computing is part of an enterprise-wide digital transformation initiative. Only one in five said edge computing was part of a separate project for a specific business unit.

Among manufacturers, 46% are already using some form of edge technology, and another 25% plan to invest within a year, the survey showed. While using or considering many, 42% are looking at locally hosted edge services. The most needed shift is for customers to design their own products and experiences.

The biggest challenges facing manufacturers looking to implement edge and 5G include operational efficiency, workforce productivity, security and skills. At least 40% of enterprises will have only one edge-enabled site, but 61% will expand, most likely to five or fewer sites. Nearly 40 percent believe private 5G networks are critical to using edge technology.

Among healthcare providers, 46% use some form of edge technology, and another fifth plan to invest within a year. More than a third are using or planning a locally hosted edge solution. The most needed shifts are giving customers control, seamless access to premises, and access to medicines and data.

The edge is likely to be under the network budget; one-third say it's part of digital transformation; and less than one-fifth think it's under the cloud budget. Additionally, 44 percent said 5G is critical to edge success; 81 percent said campus network upgrades are critical. A third are looking into private networks.