About Fog Computing
IoT and cloud computing are the key enablers of the fog computing market. IoT is a network of physical devices, sensors, and machines integrated into all objects connected through the Internet for effective data communication. It creates smart communication environments such as smart homes, shopping, transportation, and healthcare. IoT enhances operational efficiency by increasing the speed of communication over the existing infrastructure, which in turn, improves business productivity in all industrial setups. It focuses on improving the process capabilities by enabling real-time business decisions with data storage and computing capacity at the basic sensor level.
Technavio’s analysts forecast the global fog computing market to grow at a CAGR of 60.67% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fog computing market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of fog computing technology required for IoT and cloud computing.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fog Computing Market 2017-2021
Technavio recognizes the following companies as the key players in the global fog computing market: Cisco Systems, IBM, and Intel.
Other Prominent Vendors in the market are: ARM, AT&T, Cradlepoint, Dell, General Electric, Hitachi Data Systems, FogHorn Systems, Fujitsu, PrismTech, Schneider Electric, Microsoft, and Nebbiolo Technologies.
Commenting on the report, an analyst from Technavio’s team said: “M2M enables machines to connect and interact securely over a network. It also keeps track of safety and security measures by providing remote access, 24x7 monitoring, and automated emergency response. M2M is an important feature in the telecom and IT landscape as it helps connect remote sensing, monitoring, and actuating devices. M2M communication systems in the transportation sector are gaining prominence quickly in the market. These systems enable communication among smart devices over a wired or wireless networking infrastructure.”
According to the report, the increased adoption of communication devices in the transportation sector and the emergence of new players in the market have led to a decline in the prices of communication devices. Also, technological advances have helped the transportation and logistics sector to simplify commercial transportation systems. This has accelerated the development of low-cost communication devices. The cost of sensors is also declining as a large number of established and start-up firms develop sensor devices for IoT. The sensors are an important component of IoT in the transportation system. Declining prices of the sensors have encouraged transportation authorities to build smart transportation systems. Thus, the affordability of components of IoT devices has increased the adoption rate of IoT in the transportation sector.
Further, the report states that the large-scale commercial use of IoT is hindered by the lack of standardization. In the IoT network, standardization is necessary in the technical and application layers. The technical layer involves communication protocols for carrier-level communication, terminal description and service discovery mechanisms, and application data switching mechanisms. The application layer includes terminals, communication protocols, and application specifications. However, there are no specific standards for technical and application layer communications in an IoT framework, which limit the adoption of IoT among the end-users.
Cisco Systems, IBM, Intel, ARM, AT&T, Cradlepoint, Dell, General Electric, Hitachi Data Systems, FogHorn Systems, Fujitsu, PrismTech, Schneider Electric, Microsoft, Nebbiolo Technologies.