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Fog Computing Market in hardware segment is estimated to accounted for major share in the industry up to 2024

Author : Ronak Bora | Published Date : 2019-03-06 

Global Fog Computing Market will be benefited by the growing adoption of IoT and M2M devices. IoT is gradually bringing every object in the internet environment, and as the billions of devices get connected to internet, it will become difficult to use centralized servers. Furthermore, there are several applications of the IoT devices in healthcare and energy & utilities sector that require low latency, and any delay in transferring data can hamper the performance. This give rise to the requirement of decentralized computing to scale up the operations. Fog computing is the decentralized computing model that works on the concept that computing of latency sensitive applications can be done on the edge nodes that exist between cloud devices, which reduces the latency and provides enhanced Quality of Service (QoS) and Quality of Experience (QoE).

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Fog Computing Market is estimated to reach USD 700 million by 2024. Fog computing is changing the way edge networks are being developed. The wireless access point, switches, routers, storage servers, and applications at the edge are converging into single fog nodes. This significantly reduces the system complexities, increases the system manageability and ensures ease of interactions between system and application. The convergence of computing and networking at the edge of the network lead to the development of number of new avenues for the integration of information and operational technologies. It enables new services that cloud computing platforms alone cannot effectively support.

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.

The smart infrastructure is the major application of fog computing. 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 manufacturing sector is also one of the major end-users of the fog computing market solutions and holds huge potential for the industry revenue. The 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. 

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U.S. will be leading the fog computing market owing to the presence of number of players such as Cisco, IBM, Dell and Microsoft. The increase in R&D activities and application of the technology in healthcare, transportation, and automotive is backing the growth. Asia Pacific is anticipated to grow with highest growth rate in the fog computing market. The growth of the market is attributed to the increase in adoption of cloud services in the region. Initially, the organizations drove the adoption of cloud services due to its cost-effective model, ease of use and speed of implementation. However, now enterprises are embracing the cloud services to enable digital transformation. Moreover, the adoption of cloud services in the region is further estimated to grow as organizations are leveraging the capabilities of the cloud computing solutions for new business applications such as business intelligence, big data, enterprise asset management, and compliance and risk management.

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.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. 

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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