NEW
YORK, Aug. 12, 2024 /PRNewswire/ -- The global
fog computing market size is estimated to grow by USD 4.08 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
almost 70.51% during the forecast period. Exponential
increase of iot due to rise in communication between
verticals is driving market growth, with a trend
towards deployment of industry 4.0 infrastructur.
However, competition from low-cost centralized and
general-purpose computing infrastructure poses a challenge.
Key market players include ADLINK Technology Inc., Aikaan Labs,
Amazon.com Inc., Arm Ltd., AT and T Inc., Atos SE, Cisco Systems
Inc., Crosser Technologies, Dawn Acquisitions LLC, Dell
Technologies Inc., General Electric Co., Hitachi Ltd., Intel Corp.,
International Business Machines Corp., Microsoft Corp., Schneider
Electric SE, Telefonaktiebolaget LM Ericsson, Terawe Corp.,
Thoughtworks Holding Inc, and Toshiba Corp..
![Technavio has announced its latest market research report titled Global fog computing market 2024-2028 Technavio has announced its latest market research report titled Global fog computing market 2024-2028](https://mma.prnewswire.com/media/2479480/Global_Fog_Computing_Market_2024_2028_Infographic.jpg)
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Fog Computing Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
70.51%
|
Market growth
2024-2028
|
USD 4080.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
52.53
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
49%
|
Key
countries
|
US, Germany, China, UK,
and Canada
|
Key companies
profiled
|
ADLINK Technology Inc.,
Aikaan Labs, Amazon.com Inc., Arm Ltd., AT and T Inc., Atos SE,
Cisco Systems Inc., Crosser Technologies, Dawn Acquisitions LLC,
Dell Technologies Inc., General Electric Co., Hitachi Ltd., Intel
Corp., International Business Machines Corp., Microsoft Corp.,
Schneider Electric SE, Telefonaktiebolaget LM Ericsson, Terawe
Corp., Thoughtworks Holding Inc, and Toshiba Corp.
|
Market Driver
Industry 4.0, the latest industrial revolution, integrates
connected automation systems and technologies such as
cyber-physical systems, IoT devices, cloud computing, and cognitive
computing. These technologies enable large-scale automation in
factories, relying on principles like machine interconnection, big
data collection, technical assistance, and decentralization. With
the increasing adoption of Industry 4.0, the demand for real-time
data analysis in manufacturing environments is surging. Fog
computing plays a crucial role in processing and implementing data
from IoT sensors, actuators, and communication tools in the
immediate manufacturing environment. Consequently, the global fog
computing market is poised for significant growth as Industry 4.0
practices gain traction.
Fog computing, also known as edge computing, is a trending
technology that brings real-time computing closer to the source of
data generation. With the increasing amount of personal information
being generated on the internet, network operators are turning to
fog computing to reduce internet traffic and improve connectivity.
The OpenFog Consortium, a leading industry group, is driving the
adoption of fog computing through standardization. Embedded
computing design companies, connectivity hardware providers, system
integrators, cloud providers, and colocation providers are key
players in the fog computing market. Real-time applications in
sectors like transportation and logistics, power industry,
hydrocarbons, and healthcare are benefiting from fog computing.
Smart sensors, edge devices, and the fog computing layer form the
foundation of this technology. Fog computing platforms offer
customized application software, while controller servers and fog
software manage data security. The transportation sector, including
transportation systems for aviation, railways, roadways, maritime
transport, and self-driving cars, is a major user of fog computing.
Applications include monitoring engine idle time, emissions, fuel
conservation, and cyber threats. Wearables, cameras, and industrial
automation are other areas that can benefit from fog computing.
With the advent of 5G networks, augmented reality, and driverless
cars, the market for fog computing is expected to grow
significantly.
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Market Challenges
- Fog computing refers to extending centralized computing
infrastructure to the edge of the network, providing processing
capabilities as a service to devices and applications in real-time.
While this can reduce latency and improve efficiency, it faces
competition from low-cost cloud computing services, which are
widely available on a pay-as-you-go basis. The competitive
marketplace offers various pricing and volume options, making it
challenging for fog computing to gain significant market share.
Setting up fog computing infrastructure requires additional capital
spending, network infrastructure, and skilled labor, shifting focus
from applications to infrastructure management. Additionally,
achieving a minimum service level agreement in a fog computing
environment can be difficult due to the decentralized
nature of the infrastructure. Furthermore, network nodes such as
access points, base stations, routers, switches, and gateways can
be utilized for fog computing operations, increasing competition
from low-cost centralized and general-purpose computing
infrastructure.
- The Fog Computing market is experiencing significant growth as
businesses seek to address the challenges of smart home storage,
high-speed data analytics, and decentralized computing
in various sectors like cloud, machine learning, artificial
intelligence, smart home, connected vehicles, smart energy, smart
manufacturing, connected health, securities and emergencies, and
more. Fog Computing provides real-time analysis in a fog
environment, reducing the need for constant data transfer to the
cloud. However, it presents new challenges such as cyberattacks,
hardware requirements, and network bandwidth. Fog Computing
solutions include routers, switches, sensors, gateways, and
microdata centers. The Open Fog Consortium is driving the
development of hybrid IT infrastructures, including fog nodes, IP
video cameras, and ERP models, to address the needs of Industry
4.0. Policy controls, procedures, physical security measures,
authentication, IP address, energy efficiency, network privacy, and
wireless connectivity are crucial considerations for implementing
fog computing solutions.
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challenges - Request a sample report!
Segment Overview
This fog computing market report extensively covers market
segmentation by
- Component
- 1.1 Software
- 1.2 Hardware
- Application
- 2.1 Utilities
- 2.2 Healthcare
- 2.3 Transportation
- 2.4 Industrial
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Software- The Fog Computing market is growing
as businesses seek to reduce latency and bandwidth usage by
processing data closer to the source. Fog Computing, also known as
Edge Computing, allows for real-time analysis and decision making.
Companies in manufacturing, healthcare, and transportation are
adopting Fog Computing to improve efficiency and enhance customer
experience. This decentralized computing
infrastructure brings data processing power to the edge, enabling
faster response times and reducing reliance on cloud resources.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
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reports
The Global Healthcare Cloud Computing Market is experiencing
rapid growth, driven by the increasing adoption of telemedicine,
electronic health records (EHRs), and big data analytics in
healthcare. This market is expected to expand significantly due to
the need for scalable, cost-effective solutions that enhance
patient care and streamline operations. Similarly, the Global Edge
Computing Market is on the rise, fueled by the demand for real-time
data processing in sectors like healthcare, manufacturing, and IoT.
Both markets are pivotal in driving innovation and efficiency
across industries.
Research Analysis
Fog Computing Market: A New Era of Real-time Data Processing and
Connectivity Fog Computing, also known as Edge Computing, is
revolutionizing the way data is processed and analyzed in our
increasingly connected world. By bringing computing power closer to
the source of data generation, Fog Computing enables real-time
interactions and reduces latency for smart devices, smart grids,
smart buildings, smart cities, automotive networks, and more. Fog
Computing leverages 5G technology and Software-Defined Networks to
facilitate connectivity for an expanding array of connected
devices, including smartphones, tablets, wearables, cameras,
sensors, and edge devices.
Market Research Overview
Fog Computing Market: A New Frontier in Real-time Data
Processing Fog Computing, also known as Edge Computing or Extended
Cloud, is a decentralized computing infrastructure
that brings data processing closer to the source of data
generation. This architecture is becoming increasingly important in
our interconnected world, where smart devices, smart grids, smart
buildings, smart cities, automotive networks, and connected devices
require real-time interactions and high-speed data analytics. Fog
Computing relies on a network of fog nodes, including routers,
switches, sensors, gateways, and microdata centers, that act as
intermediaries between edge devices and the cloud.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Component
-
- Application
-
- Utilities
- Healthcare
- Transportation
- Industrial
- Others
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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