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Global Fog Computing Market to witness 65% CAGR till 2024, Key Venders; ADLINK Technology, Arm, AT&T, Cisco, Cradlepoint, Dell, Fujitsu Global, GE Digital, Hitachi Data Systems, IBM, Intel Corporation, Microsoft, Oracle, Schneider Electric, Toshiba

01-31-2019 07:25 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Fog computing Market

Fog computing Market

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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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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ADLINK Technology
2. Arm
3. AT&T
4. Cisco
5. Cradlepoint
6. Dell
7. Fujitsu Global
8. GE Digital
9. Hitachi Data Systems
10. IBM
11. Intel Corporation
12. Microsoft
13. Oracle
14. Schneider Electric
15. Toshiba

Fog Computing Market size is set to exceed USD 700 million by 2024; according to a new research report by Global Market Insights, Inc. Increasing penetration of cloud computing platforms is fostering the fog computing market growth. Over the past decade, cloud computing has emerged as a driving force in the IT ecosystem. It is estimated that approximately 80% of the enterprises are utilizing the capabilities of the cloud computing platform in their business and the number is further anticipated to increase in the future.

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The growth of the fog computing market is attributed to the paradigm shift in the U.S. healthcare reimbursement systems from fee-for-service model to the outcome-based reimbursement model. This will encourage healthcare organizations to adopt IoT devices to reduce power consumption, improve operational efficiency, reduce cost, and enhance overall performance of business. Furthermore, healthcare applications are latency sensitive and requires real-time analysis, any delay in transmitting data leads to serious consequences. Since fog computing enables the analysis of data at the edge of devices, its adoption among healthcare organization is further estimated to increase.

As cloud computing platforms offers computing, storage, and networking services across all the business sectors, it frees the customer and enterprises from the specifications of various details, which may result issues in latency sensitive applications in sector such as healthcare, energy & utility. These inherent challenges of cloud computing are forecast to positively impact the fog computing market adoption.

It is pivotal to mention that mainstream hardware component developers, such as Intel, Cisco, and Dell have been making a headway in fog computing industry, as is evidenced from their interest in joining forces with vendors dealing in machine learning and IoT analytics. Through the proposed dealerships, these companies would be able to deliver IoT gateways that support fog computing. Recently in fact, Cisco took a dive in fog computing market with the acquisitions of Jasper, an IoT platform provider and ParStream, a reputed company specializing in IoT analytics.

Unrefutably, these buyouts would help the electronics giant to incorporate its networking component infrastructure with highly efficient computing capabilities, which would subsequently reinforce its position in the fog computing market. Following Cisco’s lead, numerous analytics software companies have also been attempting to develop new tools for fog computing – Apache’s Spark for instance is apt for real-time processing of fog-generated data. In effect, it would be diplomatic to state that fog computing market indeed would emerge as one of most remunerative business spaces of the next decade, traversing a highly profitable growth path over 2017-2024.

Browse key industry insights spread across 350 pages with 757 market data tables & 64 figures & charts from the report, “Fog Computing Market in detail along with the table of contents:

www.gminsights.com/industry-analysis/fog-computing-market

The U.S. fog computing market is the dominant country in the business, since it is home to numerous key vendors such as Cisco, Dell, IBM and Microsoft. Increasing R&D activities on this model and use of the technology in sectors especially automotive, transportation, and healthcare in the country is also bolstering the growth. Moreover, increasing adoption of IoT devices in the country will also contribute the market in the forecast period. Countries such as India, China, and South Korea will have highest growth in the forecast timeline due to increase in use of connected devices and cloud computing. Majority of the companies present in these countries are SMEs that are expected to use fog computing in 5-6 years, driving the market in APAC.

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.

Some of the key companies in the fog computing market are ADLINK Technologies, AppFog, Arm, AT&T, Cisco, Cradlepoint, Crosser Technologies, Dell, Foghorn Systems, Fujitsu Global, GE Digital, Hitachi Data Systems, IBM, Intel Corporation, Microsoft, Nebbiolo Technologies, Oracle, Schneider Electric, Toshiba Corporation and Vimoc Technologies.

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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.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: www.industry-source.org

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