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Fog Computing Market - Future Scope and Business Opportunities Analysis to 2024

Author : Ronak Bora | Published Date : 2020-08-26 

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 fog computing 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.

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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.

The far-reaching application spectrum of fog computing industry is quite evident from the numerous instances of companies tapping the fog space making headlines. A recent precedence is that of Storj Labs and SONM teaming up to enable fog computing through blockchain technology. Elaborating further, Storj Labs, a software provider has joined hands with Supercomputer Organized by Network Mining (SONM) in order to bring about distributed instances of persistent storage implemented by Storj Labs available to organizations incorporating SONM’s blockchain. Accordingly, SONM plans to build a peer-to-peer blockchain network – effectively a fog computing instance that would deal with the computing and storage of resources on the edge of a global network. The partnership marks substantial importance in fog computing marketing, having established the fact that blockchain technology and fog computing are two strongly intertwined mechanisms.

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.

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Some of the major vendors of the market are Cisco, IBM, Intel, Dell, ARM, ADLINK, AppFog, Cradlepoint, AT&T, Foghorn, Nebbiolo, GE Digital, Microsoft, and VIMOC. These players are engaging in the collaboration and partnership to increase their product portfolio, market share and to gain competitive edge over other players. For instance, IBM and Cisco form an alliance to integrate IBM's Watson software into Cisco's fog computing platform.

Table of Contents (ToC) of the report:

Chapter 5.   Fog Computing Market, By Component

5.1.  Global fog computing market share by component, 2015 & 2024

5.2.  Hardware

5.2.1. Hardware, by region, 2015 - 2024

5.2.2. Controller    Controllers market, by region, 2015 - 2024

5.2.3. Gateways    Gateways market by region, 2015 - 2024

5.2.4. Routers & Switches    Routers & Switches market by region, 2015 - 2024

5.2.5. Sensors    Sensors market by region, 2015 - 2024

5.2.6. Others    Others market by region, 2015 - 2024

5.3.  Software

5.3.1. Software market, by region, 2015 - 2024

5.4.  Service

5.4.1. Market estimates and forecast, 2015 - 2024

5.4.2. Service market, by region, 2015 - 2024

5.4.3. Professional Service    Professional service market by region, 2015 - 2024

5.4.4. Managed Service    Managed service market by region, 2015 - 2024

Chapter 6.   Fog Computing Market, By Deployment Model

6.1.  Global Fog Computing Market share by deployment model, 2015 & 2024

6.2.  Fog as a Product

6.2.1. Fog as a product market, by region, 2015 - 2024

6.3.  Fog as a Service

6.3.1. Fog as a service market, by region, 2015 - 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/fog-computing-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia 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. [email protected] | https://twitter.com/RonakBora26

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