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(Hosting-NewsWire.com, November 22, 2016 ) The fog computing market, in terms of value, is expected to grow from USD 22.28 Million in 2017 to USD 203.48 Million by 2022, at a CAGR of 55.6% between 2017 and 2022. The market would be highly diversified and competitive with market players including top-tier and mid-tier companies as well as start-up firms. With the rate of proliferation of smart sensors, the increasing adoption of IoT-enabled devices, and mainstreaming of many smart applications, the fog technology is expected to become the most popular concept across domains such as manufacturing, energy, transportation & logistics, and healthcare, among others.
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This report provides valuable insights into the ecosystem of this market including connectivity hardware providers such as Intel and ARM Holding Plc., among others; connectivity solution providers such as Microsoft Corporation (U.S.) and PrismTech Corporation (U.S.); system Integrators such as Nebbiolo Technologies (U.S.) and Dell Inc. (U.S.).
The smart manufacturing application would hold the largest share of the market followed by smart energy. A number of sensors are used for different functions in factories or manufacturing units, which generate huge amounts of data per hour that needs to be transferred to the cloud for computing. This transfer of data back and forth takes time and is not ideal for functions that require real-time processing of data for critical decision making. Fog computing is a solution to these problems as fog brings the power of computing at the edge of the network, thus helping to solve the problem in real time. This would help manufacturing companies in better decision making with real-time data, which would also help in reducing the operating cost.
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The research methodology used to estimate and forecast the fog computing market begins with capturing data on key vendor revenues through secondary research such as Embedded Computing Design, Tech Target, OpenFog Consortium, and many more. The vendor offerings are also taken into consideration to determine the market segmentation. The top-down procedure was employed to arrive at the overall market size of the global market from the revenue of the key market players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
This report covers the fog computing market segmented on the basis of type, application, and geography. This study of the market provides the market size of different applications such as smart manufacturing, smart energy, transportation & logistics, connected health, building & home automation, and securities & emergencies, among others. The market is segmented on the basis of type into hardware and software. The market is segmented on the basis of geography into the Americas, Europe, Asia-Pacific, and Rest of the World.
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The increasing Internet of Things connectivity, machine to machine communication, need for real-time computing for time-critical process and the rising demand for connected devices largely drive the fog computing market. The increasing business demand for enhanced operation efficiency, faster decision-making capability, and cost savings would make fog computing a dominant model for organizations across verticals in the future.
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