Fog Computing Market Growth Outlook with Industry Review and Forecasts by 2024

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Global Fog Computing Industry to surpass 700
million by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Fog Computing Market

• 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.
• 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 market adoption.

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Continued...

• Fog computing solutions offer several benefits to
  the business, as they extend the cloud near the
  edge devices that generate and act on data. The
  model increases the business agility as it offers
  rapid innovation and affordable scaling options.
  It is cost effective and comparatively faster
  than cloud computing platforms. Furthermore, it
  provides better security, deeper insights, and
  privacy control. It also reduces the operating
  expenses by conserving the network bandwidth and
  locally processing the data rather than
  forwarding to the cloud platform.
• 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.

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U.S. Fog Computing Market Size, By Component,
2016 2024 (Mn)

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Continued...

• 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 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.
• 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 industry. For
  instance, Indian governments 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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Companies

• ADLINK
• AppFog
• ARM
• ATT
• Cisco
• Cradlepoint
• Dell
• Foghorn
• GE Digital
• IBM

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