The fog computing market opportunity will exceed $18 billion by 2020

The fog computing market opportunity will exceed $18 billion (€15.48 billion) worldwide by the year 2022, according to a new report by 451 Research. Commissioned by the OpenFog Consortium,

New use cases created by the OpenFog Consortium were also released that showcase how fog works in industry. These use cases provide fog technologists with detailed views of how fog is deployed in autonomous driving, energy, healthcare and smart buildings.

Key findings from the report were presented during an opening keynote at the inaugural Fog World Congressconference.

In addition to projecting an $18 billion (€15.48 billion) fog market and identifying the top industry-specific market opportunities, the report also identified:

• Key market transitions fueling the growth include investments in energy infrastructure modernisation, demographic shifts and regulatory mandates in transportation and healthcare.
• Hardware will have the largest percentage of overall fog revenue (51.6%), followed by fog applications (19.9%) and then services (15.7%). By 2022, spend will shift to apps and services, as fog functionality is incorporated into existing hardware.
• Cloud spend is expected to increase 147% to $6.4 billion (€5.50 billion) by 2022.