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Fog Computing Market Size
- Report ID: GMI2295
- Published Date: Dec 2017
- Report Format: PDF
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.
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.
| 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: |
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| Pitfalls & Challenges: |
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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.
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Fog Computing Market Scope
