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Fog Computing Market to witness heavy growth prospects via manufacturing sector up to 2024

Author : Ronak Bora | Published Date : 2019-05-15 

Global Market Insights, Inc. has added a new report on fog computing market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

Fog Computing Market in manufacturing sector is expected to exhibit a lucrative growth over the forecast period. The 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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The unprecedented growth of IoT and machine to machine services has led fog computing market place to be the next battleground for sustainability and revenue streams. This can be possibly credited to the fact that with rapid development of these applications, the conventional centralized cloud computing platforms are encountering a barrage of severe operational challenges such as low spectral efficiency (SE), high latency, and non-adaptive machine type of communications. In a bid to respond to this challenge, advanced technology is driving a trend that is shifting from centralized cloud computing to a decentralized model. The steep growth graph of fog computing industry can be fundamentally attributed to this paradigm transition.

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.

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 industry. 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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Fog computing market is impelled by increasing penetration of Internet of things in healthcare IT infrastructure. It goes without saying that the requirement of transmitting healthcare cloud to all verticals has become more important, in order to ensure real-time smart communications. Given this backdrop, experts claim, fog computing technology provides the foundational IoT infrastructure requirement for effectuating this process from novelty to reality. In fact, as per experts' opinion, market is set to remarkably influence value based supply chain model of healthcare fraternity in the coming years, with a considerable improvement in operational efficiency.

One of the biggest constraints of fog computing industry is the dearth of proper standardization of the technology. In fact, as per reports, end-users find inconsistency which sometimes result in decreased data retrieval and unreachable information. Reportedly, The OpenFog Consortium mainly aims to solve the communication, bandwidth, and latency challenges associated with AI and other innovative digital IT infrastructures. Though still at a nascent stage, with the increasing requirement of optimizing network traffic and reducing the time of transmitting data between cloud computing platform and edge device, it is undeniable that fog computing industry is set to amass remarkable returns over the coming years. Estimates by Global Market Insights, Inc., claim global fog computing market to exceed a valuation of USD 700 million by 2024.

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About Global Market Insights

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.

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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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