Fog Computing Market is set to exceed USD 700 million by 2024

Fog Computing Market statistics and research analysis released in latest study
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Fog Computing Market is set to exceed USD 700 million by 2024, global industry growth is pegged at around 65% CAGR over the forecast timespan; according to a new research report.

Fog computing solutions offer several benefits to the business, as they extend the cloud near the edge devices that generate and act on data. The model increases the business agility as it offers rapid innovation and affordable scaling options. It is cost effective and comparatively faster than cloud computing platforms. Furthermore, it provides better security, deeper insights, and privacy control. It also reduces the operating expenses by conserving the network bandwidth and locally processing the data rather than forwarding to the cloud platform.

The growth of the fog computing market is attributed to the paradigm shift in the U.S. healthcare reimbursement systems from fee-for-service model to the outcome-based reimbursement model. This will encourage healthcare organizations to adopt IoT devices to reduce power consumption, improve operational efficiency, reduce cost, and enhance overall performance of business. Some of the key companies in the fog computing industry are ADLINK, AppFog, ARM, AT&T, Cisco, Cradlepoint, Dell, Foghorn, GE Digital, IBM, Intel, Nebbiolo, Microsoft, and VIMOC.