That's a key part of it too over the long term. There will never be enough bandwidth to backhaul all the sensor data to a data center. However, there are huge technical gaps that need to be addressed to make edge computing viable, particularly around managing federation considering the compute profile of many considered applications. Ad hoc transient meshes of powerful compute elements attached to diverse multimodal sensor sources without a trivial root of trust is... interesting.

It isn't a solved problem but people are working on it.

If monitoring is the use case then go for Netdata