LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global fog computing market is expected to grow at a CAGR of more than 60% during the forecast period.
“Effective management of transportation system is the key focus of many cities worldwide. Smart transportation systems play a vital role in such dense urban environments, where these intelligent traffic management and intelligent public transport systems can help in reducing commute time and streamline traffic”
This research report titled ‘Global Fog Computing Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The exponential increase in the Internet of Things (IoT), driven by the rising communication between various verticals in industries is responsible for the growth of the global fog computing market.
The rising M2M and machine-to-human communications are leading to simplified management, monitoring, and maintenance of connected devices. The manufacturing industry is one of the largest adopters of the fog computing technology, where it optimizes and improves the visibility of the entire process.
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Based on application, the report categorizes the global fog computing market into the following segments:
- Smart transportation
- Smart manufacturing
- Smart cities
- Smart healthcare
The top three revenue-generating application segments in the global fog computing market are discussed below:
“Effective management of transportation system is the key focus of many cities worldwide. Smart transportation systems play a vital role in such dense urban environments, where these intelligent traffic management and intelligent public transport systems can help in reducing commute time and streamline traffic,” says Amit Sharma, one of the lead analysts at Technavio for enterprise application research.
Fog computing enhances the connectivity of transport systems by applying edge network to transmit real-time data to cloud-based data centers in the smart transportation systems. This data can be analyzed to aid in decision-making processes, which is driving the implementation of fog computing to minimize the data center workload and manage automated vehicles.
Manufacturers worldwide are adopting fog computing to enhance their business productivity and gain a competitive advantage. Multiple machines and devices are connected to the Internet, which paves the way for predictive maintenance and optimization of factory floor performance. The increasing demand for digital transformation and performing remote operations in the manufacturing sector will drive the use of IoT devices among enterprises during the forecast period. The ease of data management provided by fog computing is driving the demand in the market.
Smart building solutions provide green, safe, and productive structures, which can save up to 30% of water consumption, 40% of energy consumption, and overall building maintenance costs by 10%-20%. Smart buildings provide a better-quality lifestyle, reduce carbon footprints, and increase efficiencies with the help of intelligent systems to control the building operations
“Interconnected smart homes make a smart city, where effective management of power supply is carried out. These smart cities help communities to reduce the power consumption to a minimal level by balancing demand and supply of electricity through the effective use of ICT infrastructure and automated control system,” says Amit.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Cisco Systems
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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