Fog Computing Market to grow at 65% CAGR from 2017 to 2024

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Fog Computing Market to grow at 65 CAGR from
2017 to 2024 Global Market Insights Inc.
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Industry Overview

• Fog Computing Market is set to exceed USD 700
  million by 2024 driven by enhanced data security
  real-time operation by fog computing.
  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.
• 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.

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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.
• 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.

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

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Industry Coverage
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• 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.
• Some of the key companies in the fog computing
  industry are ADLINK, AppFog, ARM, ATT, Cisco,
  Cradlepoint, Dell, Foghorn, GE Digital, IBM,
  Intel, Nebbiolo, Microsoft, and VIMOC.
  Collaboration and product launch has become one
  of the strategies used by the market players to
  increase the product portfolio and gain technical
  expertise. For instance, in 2015, Dell introduces
  its new Edge Gateway to provide fog computing
  solutions for industrial applications and
  building automation.

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