Global Fog Computing Market Expands with Growing Need of Managing Enormous Amounts of Data Generated by Sensors
The global fog computing market is envisaged to witness the birth of high-growth prospects due to the rising need to manage massive volumes of data generated by sensors. Enabling portability, fog computing allows the cloud to position itself in a more convenient manner to act on IoT data. In a report added by MarketReserchReports.biz, the market is carefully analyzed and studied based on competitive landscape, market dynamics, and other significant aspects. It bears the title “Fog Computing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
Use of data hubs and smart mobile devices for data processing in fog computing is expected to help the market to gain popularity in the coming years. The market could gain further demand with the use of smart router, gateway, and other devices. It is because of this distributed approach that the market is foreseen to gain prominence, at least until the end of the forecast period. Data uploaded to the cloud for storage, data processing, and reports could be reduced in size with the help of fog computing, which is also known to improve efficiency. Fog nodules can be deployed anywhere – in oil rigs, beside railway tracks, in vehicles, on top of power poles, or from factory floor.
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The global fog computing market could see a classification into software and hardware as per type of component. Software could be further classified into fog computing platform and customized application software. On the other hand, hardware could be further segregated into controller, gateway, router, switch, and server. On the basis of application, there could be segments such as security and emergency systems, transportation and logistics, connected health, smart manufacturing, building and home automation, and smart energy. Software component of fog computing is projected to secure a larger demand in the near future. This could be because of several programs operated on virtual machines having singular host hardware.
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Players are expected to easily enter the software market for fog computing owing to factors such as availability of intellectual capital and low capital requirement. Smart manufacturing as an application of fog computing is envisioned to grow at a quicker rate in the coming years. This could be on account of increased demand for process automation in a broad scope of industries. On the geographical front, North America is predicted to rank higher in the market with respect to revenue share. In order to help develop fog computing, the region has witnessed strong investments in the recent years. Another factor that could promise growth to the regional market is high penetration rate of the technology.
The global fog computing market marks the presence of leading players such as Intel, Dell, Cisco, and Microsoft.
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