Fog Computing Market to achieve considerable growth in 2024, rising demand of cloud computing services across the globe

Fog Computing Market growth is fueled by increasing demand of cloud computing services across the globe. The distributed and parallel computing has significantly evolved over the past fifty years from mainframes to vector era to modern computing paradigm. Despite, the growth in the computing technology, there is still a significant requirement of more advance computing technology to overcome the future challenges. As the number of devices connected to the internet increases, it will not be sustainable to use cloud computing as centralized server.

The far-reaching application spectrum of fog computing market is quite evident from the numerous instances of companies tapping the fog space making headlines. A recent precedence is that of Storj Labs and SONM teaming up to enable fog computing through blockchain technology. Elaborating further, Storj Labs, a software provider has joined hands with Supercomputer Organized by Network Mining (SONM) in order to bring about distributed instances of persistent storage implemented by Storj Labs available to organizations incorporating SONM’s blockchain.

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The end-use landscape of fog computing market is rather humongous and versatile, though this does not exactly come as a surprise, given how minutely IoT has brought every object under the umbrella of the Internet. As per reliable estimates, the data analyzed on devices functioning on IoT will soon approach a mammoth 40%. It has also been speculated that by the year 2020, 10% of global data will be generated by edge devices. This would fuel the demand for highly efficient fog computing solutions that simultaneously deliver holistic intelligence and low latency, subsequently driving fog computing market size, slated to cross USD 700 million by 2024.

The smart infrastructure is the major application of fog computing market. Increasing digitalization and supportive government initiatives in the developing countries are estimated to be one of the factors that is backing the growth of the fog computing market. For instance, in 2014, Sheikh Mohammed, prime minister and vice president of UAE announced Dubai’s smart city project, which focuses on delivering more than 1000 government services via internet by the end of the year 2017. Fog computing can play an effective role in the smart infrastructure market in building control, security and surveillance systems, access control, as well as in environmental monitoring applications.

It is pivotal to mention that mainstream hardware component developers, such as Intel, Cisco, and Dell have been making a headway in fog computing market, 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.

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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.

Some of the major vendors of the fog computing market are Cisco, IBM, Intel, Dell, ARM, ADLINK, AppFog, Cradlepoint, AT&T, Foghorn, Nebbiolo, GE Digital, Microsoft, and VIMOC. These players are engaging in the collaboration and partnership to increase their product portfolio, market share and to gain competitive edge over other players. For instance, IBM and Cisco form an alliance to integrate IBM’s Watson software into Cisco’s fog computing platform.

Chapter 5.   Fog Computing Market, By Component

5.1.  Global fog computing market share by component, 2015 & 2024

5.2.  Hardware

5.2.1. Hardware, by region, 2015 – 2024

5.2.2. Controller

5.2.2.1.    Controllers market, by region, 2015 – 2024

5.2.3. Gateways

5.2.3.1.    Gateways market by region, 2015 – 2024

5.2.4. Routers & Switches

5.2.4.1.    Routers & Switches market by region, 2015 – 2024

5.2.5. Sensors

5.2.5.1.    Sensors market by region, 2015 – 2024

5.2.6. Others

5.2.6.1.    Others market by region, 2015 – 2024

5.3.  Software

5.3.1. Software market, by region, 2015 – 2024

5.4.  Service

5.4.1. Market estimates and forecast, 2015 – 2024

5.4.2. Service market, by region, 2015 – 2024

5.4.3. Professional Service

5.4.3.1.    Professional service market by region, 2015 – 2024

5.4.4. Managed Service

5.4.4.1.    Managed service market by region, 2015 – 2024

Chapter 6.   Fog Computing Market, By Deployment Model

6.1.  Global Fog Computing Market share by deployment model, 2015 & 2024

6.2.  Fog as a Product

6.2.1. Fog as a product market, by region, 2015 – 2024

6.3.  Fog as a Service

6.3.1. Fog as a service market, by region, 2015 – 2024

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