Smart manufacturing application expected to drive the fog computing market between 2017 and 2022

Today, most of the organizations have adopted the converged infrastructure in data centers and distributed cloud computing. However, with the growth of Internet of Things (IoT), the requirement for communication between end devices is also expected to grow exponentially However, the existing infrastructure is not capable of satisfying such a massive demand for analyzing streams in real time and deriving insights from the sensor data because of its low bandwidth and high latency. Fog computing architecture helps by bringing the cloud closer to the edge of the network. The fog nodes in the this architecture are capable of receiving, processing, and storing data from sensor inputs at the edge of the network, reducing the real-time information traffic toward the cloud, and acting as a hedge against bandwidth limitations and low latency issues related to information exchange between ground infrastructure and cloud. The fog computing market size 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 smart manufacturing application held the largest share of the fog computing market during the forecast period. Industrial IoT is changing the game for manufacturers by enabling new revenue opportunities, increasing operational capabilities, and allowing interoperability with other connected consumer products. The smart energy application is expected to drive the fog computing market during the forecast period. The emergence of wireless connectivity technologies such as Bluetooth, Wi-Fi, ZigBee, and mobile Internet among others has led to the increased deployment of automation & controls in the market, especially in the manufacturing and energy sector where fog would help in reducing operational loss and preventing accidents by continuously monitoring and taking real-time actions whenever required. 

Several market leaders in IoT and cloud across the globe are coming together through OpenFog Consortium for the development of standards and architecture for fog. Developed nations are undertaking initiatives for research in IoT and encouraging active participation from the industry experts. This creates the need for faster development of fog computing to counter the problems created by the huge amount of data generated by IoT-enabled devices.

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The fog computing market in the Americas is expected to grow at the highest rate during the forecast period. The commercialization of the applications of fog is expected to be in the introductory stages by 2017 in the developed and few developing economies of the APAC and RoW regions. Initially, applications such as smart manufacturing, smart energy, connected health, and transportation & logistics are expected to implement fog computing, followed by other applications such as security & emergencies, smart retail, and smart environment.

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