Published Date : Dec 27, 2017
ALBANY, New York, December 27, 2017 – MarketResearchReports.biz has announced the addition of a new report, titled “Fog Computing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024. The report on the fog computing market offers an elaborate assessment of key growth dynamics, prevailing trends, recent technological advances, current and emerging opportunities, and competitive landscape. The study presents in-depth insights into stakeholder reports and value chain reports, and key factors driving the prominent applications.
The drive for fog computing, also known as edge computing or fogging, stems from the need for real-time processing of cloud data without any latency so as to facilitate the operation of compute, network services, and storage between source devices and data centers. The pressing need is attributed primarily to the intensifying demand for decentralized computing infrastructure other than cloud computing. The burgeoning number of connected devices and the vast volumes of data emanating from them have bolstered the need for real-time processing of these data to make them useful before the data is sent to the cloud infrastructure.
The need for reducing risks in IoT transactions is a notable factor leading to the evolution of the market. In addition, the demand for boosting compliance and security for various end users in the IoT value chain is a notable factor bolstering the demand for fog computing. The markedly rising preference of fog computing over cloud computing is a key factor driving the market. The fog computing has gathered steam as the next-generation computing network for IoT, chiefly due to the distributed nature of the system, which is useful for dense geographic distribution. The use of devices such as gateways and routers bodes well for the demand for fog computing. The intensifying need for analytics at network edge is also catalyzing the growth of the fog computing market. Furthermore, the growing need for locational awareness is a key factor boosting the market.
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The two broad components in fog computing are hardware and software, in which the former segment consists of servers, switches, routers, controller, and gateways, while the latter comprise customized application software and platform. Owing to the low CAPEX requirement, software segment leads and is predicted to account for leading share of the global market.
The vastly rising demand for fog computing in home automation devices, smart energy devices, and transportation and logistics, emergency response systems is a notable trend accentuating the growth of the market.
The large amount of data generated by sensors in a range of end-use industries is also fortifying the demand for fog computing. The various regional segments for the growth of the fog computing market are North America, Europe, Asia Pacific, and Rest of the World (RoW). Of these, North America currently leads the global market and is expected to maintain its dominance throughout the assessment period. The extensive amount of fund spent on developing fog computing technology and the substantial uptake across industries in various parts of the world are notable factors boosting the regional.
The vastly rising demand for fog computing in smart manufacturing is a prominent factor boosting the market. The growing prominence of process automation in manufacturing industries is expected to unlock exciting opportunities for market players. The lack of standardization for fog computing and the paucity of technical expertise are key factors likely to hinder the growth of the market. Nevertheless, in recent years, there has been substantial advances in communication technology used by system integrators platform providers. This is likely to open up promising prospects in the coming years.
Prominent players operating in the market include Schneider Electric Software, Intel Corporation, Fujitsu, ARM Holding Pl, Dell Inc., Cisco Systems, Inc., and Microsoft Corporation.
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