May 26, 2017
Every way it’s measured, fog is spreading
The breakdown of market research studies shows fog is clearly gathering momentum
Fog computing has been building steam for a couple of years now. When the OpenFog Consortium launched 18 months ago, membership numbers quickly skyrocketed. Then, after we published the OpenFog Reference Architecture in February, fog established a leading mindshare position in the discussions around IoT and 5G architectures and industry directions.
The sheer volume of available new research on fog computing demonstrates that fog is gathering momentum and, according to prognostications, has a bright future. To help you sift through the wealth of new market data on fog – and the wide variety of opinions – we reviewed seven of the top studies and summarized their conclusions for you here.
If you are considering fog, or just need a pan-industry perspective, this is an ideal starting point:
Future Market Insights
FMI says that fog computing market has recently gained importance due to increasing adoption of IoT worldwide, increasing demand for computing capability at the edge, mainstreaming of cloud computing and high adoption of smart sensors that will create huge amount of data. The growing government and private funding across the globe for research and development in IoT, cloud and fog, and scope for innovative cross-domain applications will provide significant growth opportunities in the fog computing market.
Grand View Research
Grand View expects the global fog computing market to reach $617.3 million by 2025. According to the report, Fog computing is an advancement in IoT that has shifted data processing out of the cloud into devices. With the growing number of IoT deployments, the amount of data is multiplying, thereby giving rise to several challenges involved in uploading and processing this data. This has led to the emergence of fog computing to store and process the vast amount of data within a short time frame.
The Insight Partners
Insight concludes that the global fog computing market is expected to witness growth during the forecast period due to limitations of bandwidth in existing IoT infrastructure, which results in slow analysis of growing big data. The research firm says that fog improves efficiency and aids in reducing the data size needed to be uploaded to the cloud for analysis, storage and data processing. Further, it also helps in enhancing security and compliance for end users.
M and M agrees that IoT adoption will drive the fog computing market, which it expects to grow from $22.28 million in 2017 to $203.48 million by 2022, at a CAGR of 55.6%. It will be driven by factors such as the growing demand for computing capability at the edge, high adoption of smart sensors that would create huge amount of data, and the mainstreaming of cloud computing.
Stratistics Market Research Consulting
Fog Computing Global Market Outlook 2016-2022
Stratistics MRC valued the global fog computing market at $9.49 million in 2015 and expects it to reach $202.21 million by 2022, growing at a CAGR of 54.8%. Stratistics says the key market drivers are IoT connectivity, machine-to-machine communication, requirements for real-time computing for time-critical process and the increasing demand for connected devices.
Technavio’s market research analysts predict the global fog computing market to grow steadily during the forecast period and post a tremendous CAGR of almost 61% by 2021. IoT and cloud computing will be the key enablers of the fog computing market. It creates smart communication environments such as smart homes, shopping, transportation, and healthcare.
Transparency Market Research
This report offers qualitative insights, as opposed to quantitative. Transparency says there is a lot of growth opportunity in system integrators platform providers’ communication technology. This is expected to drive the market over the near future. Other factors, such as the growth of data being provided by cloud service providers, create more opportunity for the growth of fog computing.
Regardless of source, what is clear is that fog is lifting across the board, as it becomes more apparent that it’s necessary for the coming era in digital transformation.
To access the full OpenFog Reference Architecture document, please visit www.openfogconsortium.org/ra.