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Fog Computing Market Size

Report ID: GMI2295
Published Date: Dec 2017
Report Format: PDF

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Fog Computing Market Size

Fog Computing Market size surpassed USD 9 million in 2016 and is expected to witness a massive growth of around 65% from 2017 to 2024.

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The fog computing market growth is attributed to the rising IoT implementation in various industry verticals including smart infrastructure, automotive, healthcare, retail, and energy. The data generated from connected devices can be utilized in various ways, especially in extracting insights. However, the volume of data can overwhelm the capabilities of storage and computing applications. The fog computing model is widely used as it integrates cloud resources close to the edge device, reducing the time required to transmit data and overcome latency issues. The rising adoption of cloud computing platforms will also propel market growth as fog enhances the capabilities of such platforms by connecting a wide range of devices to the cloud. It overcomes the limitations of cloud computing such as latency & frequency issues, scalability limitations, and resource management.

Fog Computing Market Report Attributes
Report Attribute	Details
Base Year:	2016
Fog Computing Market Size in 2016:	9 Million (USD)
Forecast Period:	2017 to 2024
Forecast Period 2017 to 2024 CAGR:	65%
2024 Value Projection:	700 Million (USD)
Historical Data for:	2013 to 2016
No. of Pages:	350
Tables, Charts & Figures:	821
Segments covered:	Component, Deployment Model, Application and Region
Growth Drivers:	Increasing adoption of IoT and M2M devices Growing penetration of cloud computing Enhanced data security & real-time operation by fog computing
Pitfalls & Challenges:	Security, reliability, and fault tolerance issues associated with fog computing Complex architecture of decentralized computing

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As smartphones are becoming ubiquitous, there has been explosive growth in mobile data traffic. To accommodate the surge in data traffic, the demand for fog computing will increase to provide mobile users the demanded services through low-latency connections.

Authors: Preeti Wadhwani, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of fog computing was surpassed USD 9 million in 2016.

The industry share of fog computing is expected to witness a massive growth of around 65% to 2024.

The fog computing models potentially integrate cloud resources near to the edge device, cutting down the time required to transfer data and overcome latency issues, and allowing it to gain widespread prominence globally.

Fog as a Product deployment model will register considerable demand in the near future attributing to robust functionality and exceptional data security it provides.

MEA market is observing considerable demand due to penetration of IoT platforms along with the adoption of cloud computing amongst various companies.

Fog computing manufacturers are implementing umpteen strategies and tactics such as acquisitions, collaborations, and mergers, and product launches to bolster their geographical presence.