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Fog Computing Market is projected to showcase significant growth from manufacturing sector

Author : Ronak Bora | Published Date : 2019-04-01 

Fog Computing Market growth can be credited to the increasing demand for process automation in the manufacturing sector to gain an edge over competitors. Furthermore, fog computing solutions enhance the operational efficiency by providing actionable insights and real-time monitoring of the operations, which is estimated to increase the adoption among manufacturing plants. 

Fog computing solutions offer several benefits to the business, as they extend the cloud near the edge devices that generate and act on data. The model increases the business agility as it offers rapid innovation and affordable scaling options. It is cost effective and comparatively faster than cloud computing platforms. Furthermore, it provides better security, deeper insights, and privacy control. It also reduces the operating expenses by conserving the network bandwidth and locally processing the data rather than forwarding to the cloud platform.

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The smart infrastructure is the major application of fog computing market. Increasing digitalization and supportive government initiatives in the developing countries are estimated to be one of the factors that is backing the growth of the market. For instance, in 2014, Sheikh Mohammed, prime minister and vice president of UAE announced Dubai’s smart city project, which focuses on delivering more than 1000 government services via internet by the end of the year 2017. Fog computing can play an effective role in the smart infrastructure market in building control, security and surveillance systems, access control, as well as in environmental monitoring applications.

The end-use landscape of fog computing market is rather humongous and versatile, though this does not exactly come as a surprise, given how minutely IoT has brought every object under the umbrella of the Internet. As per reliable estimates, the data analyzed on devices functioning on IoT will soon approach a mammoth 40%. It has also been speculated that by the year 2020, 10% of global data will be generated by edge devices. This would fuel the demand for highly efficient fog computing solutions that simultaneously deliver holistic intelligence and low latency, subsequently driving fog computing industry size, slated to cross USD 700 million by 2024. Numerous real-time instances of the benefits of this technology have already made inroads in fog computing market – recently, the IoT company Plat One made headlines for having tapped into fog computing for improving data processing management in its 1 million sensors.

The growth of the fog computing market is driven by the growing demand of cloud computing services across the globe. The distributed and parallel computing has significantly evolved over the past fifty years from mainframes to vector era to modern computing paradigm. Despite, the growth in the computing technology, there is still a significant requirement of more advance computing technology to overcome the future challenges. As the number of devices connected to the internet increases, it will not be sustainable to use cloud computing as centralized server. This increasing adoption of connected devices will give rise to the need of the processing data closer to its source to overcome the problem of data explosion and reduce network traffic. Hence, an effective computing platform is required in edge of network to harness the computation competences that are currently untapped.

 

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Asia Pacific fog computing market is estimated to be the fastest growing region owing to the increasing adoption of the cloud computing platform in countries such as India and China. Furthermore, rapidly developing smart infrastructure such as smart cities and government initiatives in the developing countries are also estimated to have significant impact on the growth of the fog computing market. For instance, Indian government’s smart city development initiative, Digital India program and Make in India campaign is estimated to fuel the development of smart infrastructure, therefore increasing the demand for streaming data from cloud computing platform. 

The explosive amplitude of IoT, spanning virtually every sphere, has a pivotal role to play in the expansion of fog computing market. Still considered a plausible tech sub-space by mere mortals, this business domain, an inherent extension of the cloud computing industry, is likely to actually emerge as a viable niche vertical, starting 2018, as per the predictions of The US office of National Institute of Standards and Technology (NIST). Subject to its extraordinary ability to support latency-sensitive and vertically-isolated applications by means of providing a scalable, ubiquitous, distributed, and layered network connectivity, storage, and computing, fog aims to simplify processing and IoT infrastructure. In consequence, there has been an increasing surge in exploiting the unused IT infrastructure for fog computing applications that need to compute resources in a global network. Subsequently, this has led to fog computing market gaining heavy momentum, reinforcing the buzzword of ‘fog technology’ across myriad domains.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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