USD 85.5 million
Fog Computing Market Size, Share, Growth Analysis, By Type(Hardware, Software), By Application(Connected Vehicle, Building & Home Automation, Smart Energy, Smart Manufacturing), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2040 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
66
|Figures:
74
Fog Computing Market Insights
Fog Computing Market size was valued at USD 85.5 million in 2019 and is poised to grow from USD 126.66 million in 2023 to USD 4314.38 million by 2031, growing at a CAGR of 48% in the forecast period (2024-2031).
Increasing awareness of data security, bandwidth constraints and increasing use of simple applications for existing IoT infrastructure and increasing deployment of data-intensive IoT devices are some of the key drivers for globalization of the fog computing market growth. Furthermore, the expanding requirement to improve system response time and the need for enhanced security through data streaming drives the growth of the fog computing market over the forecast period.
Fog computing supports lower network latency between end-user devices for augmented reality (AR) and Internet of Things (IoT), generates more data, senseless transfer to cloud services for analysis. The goal of fog computing to meet low-latency requirements, reduce power consumption of end-user devices, real-time data processing, and deployment of data computing resources. As connected IoT devices grow, the need to process and analyze data close to the source increases. Fog computing provides a decentralized infrastructure that brings computing, storage, and networking closer to the devices that generates the data.
The lack of appropriate standards for the use of fog computing and sit experts is acting as a major restriction in the growth of the fog computing industry due to which end users are thought to have information impossibility do not match it to reduce data recovery. Fog devices are usually installed in public places, where it is easy for unnecessary interference. Challenges associated with digital IT innovation involving insufficient analysis, extending computational logic to network edge devices and devices, and digital IT innovation in connectivity, latency and bandwidth controlling the growth of the computing industry. In addition to this, reliability, integrity, and wireless reliability as well as cost of air conditioning hinder the growth of the fog computing market.
US Fog Computing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
software
Fastest Growth
software
Growth Rate
48% CAGR
Global Fog Computing Market, 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Fog Computing Market Segmental Analysis
The global fog computing market is segmented on the basis of type, application, and region. Based on type, the market is segmented into hardware and software. Based on application, the market is segmented into connected vehicles, building & home automation, smart energy, smart manufacturing, connected health, securities & emergencies, and others. Based on region, the global fog computing market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Fog Computing Market Analysis by Application
Smart manufacturing is the dominating segment in the fog computing market. The smart manufacturing segment accounted for the largest fog computing market share in 2023. Smart manufacturing relies on connected devices and systems that generate huge amounts of data. Fog computing makes it easier to efficiently manage and manipulate this data through computers on the distribution of resources. This decentralization increases the performance and reliability of IoT networks. It allows for flexible and flexible design, and brings high levels of automation, customization and customization to their production processes. Smart manufacturing is one of the influential industries contributing to the growth of the fog computing market. With the rise of Industry 4.0, manufacturers are increasingly adopting IoT devices and automation systems to improve manufacturing efficiency, improve product quality and reduce operating costs.
Smart cities are the fastest growing segment in the market. The smart cities segment is expected to register the fastest CAGR during the forecast period. Smart cities rely on interconnected devices and systems to operate efficiently. Fog computing supports this integration by enabling local data processing and reducing the load on centralized cloud servers. This decentralized technique will increase the reliability and performance of the smart-city packages and guarantees that critical services remain operational even throughout community outages. Furthermore, fog depend on structures supply records to permit actual-time evaluation of surveillance cameras, emergency response systems and other public protection systems.
Fog Computing Market Analysis by Type
The software segment dominated the market and accounted for 64.1% fog computing market share in 2023. Fog computing software helps to reduce costs and improve efficiency by reducing the need for centralized data transfer in the centralized clouds by processing data globally. Software is important in fog computing as it coordinates data collection, processing, and analysis at the edge of the network close to the data source. This includes fog computing platforms, middleware, analytics software, and network management tools. Companies reduce bandwidth usage and associated costs. This localized device reduces the need for high bandwidth and decreases operating prices. The financial savings and operational efficiencies provided by using the fog computing software make it a value-powerful solution for businesses looking to optimize their IT spend.
The hardware segment is anticipated to the quickest CAGR at in the forecast period. Edge gadgets which include the routers, gateways, and switches have become increasingly superior and capable of coping with complex computing duties. These upgrades allow greater efficient facts processing at the edge of the community, reducing latency and enhancing facts control. The effective processors evolved, and the increased reminiscence capacity of these gadgets permit real-time analysis and processing, which is essential for programs that require instantaneous response. These advances and advances are driving demand for hardware services. The hardware in fog computing includes sensors, gateways, routers, and local servers as edge devices that support decentralized data processing. These devices are key to the fog computing system because they provide the physical computing power necessary for local data analysis.
Global Fog Computing Market By Type, 2021 (%)
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Fog Computing Market Regional Insights
North America plays a crucial function inside the fog computing market, usually because of its technological advancements and robust presence of key gamers within the IT and telecommunications sectors. The region's properly set up infrastructure and investment in IoT technologies similarly facilitate the adoption of fog computing solutions across various industries. Major establishments and startups in North America are actively developing innovative fog computing programs, mainly in smart cities, healthcare, and commercial automation. Additionally, North America’s cognizance on studies and improvement enables the continuous evolution of fog computing technology, positioning the location as a leader in this market.
As per fog computing market, analysis, Asia-Pacific is also emerging as a fastest growing player within the fog computing industry, pushed via rapid industrialization and increasing investments in smart metropolis tasks throughout nations like China, India, and Japan. The region growing quantity of IoT deployments in manufacturing, agriculture, and transportation sectors is creating good sized demand for fog computing answers that can beautify records processing competencies and operational performance. Additionally, the proliferation of 5G networks in Asia-Pacific is anticipated to accelerate the adoption of fog computing, because it allows quicker records transmission and supports actual-time packages.
Global Fog Computing Market By Geography, 2022-2028
- Largest
- Fastest
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Fog Computing Market Dynamics
Fog Computing Market Driver
Growing Demand for Real-time Data Processing
- The fog computing market is driven through the growing demand for actual-time statistics processing throughout applications, particularly IoT (Internet of Things) environments. Traditional cloud computing solutions, even as powerful for many applications, often face barriers in latency and bandwidth issues, in particular in situations in which instant information analysis and response are required. This architecture reduces latency, will increase response time, and optimizes bandwidth usage, making it especially appropriate for programs in vital regions including self-sustaining motors, industrial automation, and smart cities. Enterprises are aware of the significance of actual-time decision-making and operational efficiency and adoption of fog computing solutions maintains to grow.
Expanding IoT Applications Across Industries
- Another fundamental motive factor of the fog computing industry is the speedy growth of IoT programs across industries. As agencies increasingly install IoT gadgets to display, method and collect statistics, the want for strong computing infrastructure which could assist this application has become crucial. Fog computing for the distributed computing environment provides data processing and analytics can be performed efficiently at the network edge, thus creating a seamless integration of IoT devices with enterprise applications. Industries such as healthcare, manufacturing, transportation, and energy to increase operational efficiency, improve data security.
Fog Computing Market Restraints
Security and Privacy Concerns
- Data breaches and unauthorized access problems can prevent the adoption of fog computing solutions. Legal provisions on data privacy such as GDPR and HIPAA impose strict compliance requirements, which can make it difficult to implement fog computing solutions. As facts are processed and stored at the brink of the community, the variety of access points for cyberattacks increases, it is important for groups to implement robust security measures.
Complexities in Implementation and Integration
- The complexity of implementing and integrating fog computing solutions into existing IT infrastructure is another key constraint to fog computing market growth. Organizations often use a mix of legacy infrastructure and modern technologies work, making it difficult to seamlessly integrate fog computing systems. In addition to causing complexity, increasing costs and causing delays, businesses can face challenges with a standardized system will be deployed for data processing across IoT devices and fog nodes.
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Fog Computing Market Competitive Landscape
The fog computing market is characterised by a dynamic competitive panorama, with the several key players vying for dominance through strategic partnerships, technological innovation, and complete provider services. This collaborative approach enables them to leverage the complementary strengths and develop incorporated solutions that deal with the unique desires of various industries. Companies in this quarter are that specialize in improving their product portfolios and expanding their market obtain through taking part with the other era companies, telecommunications corporations, and system integrators.
Top Players in the Global Fog Computing Market
- Cisco Systems Inc.
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- ARM Holdings PLC
- Fujitsu Limited
- Dell Technologies Inc.
- Schneider Electric SE
- GE Digital
- Toshiba Corporation
- ADLINK Technology Inc.
- FogHorn Systems Inc.
- Nebbiolo Technologies Inc.
- Prismtech Corp.
- Cradlepoint Inc.
- Fog Computing Inc.
- MachineShop Inc.
- Zebra Technologies Corporation
- Hitachi Vantara Corporation
Fog Computing Market Recent Developments
- In April 2022, Alibaba Cloud and VMware delivered the Next-Generation Alibaba Cloud to accelerate innovation. Enterprises in China can now migrate the Alibaba Cloud VMware deployment and quickly deploy new applications and migrate workloads between on-premises.
- In May 2024, IBM and SAP SE announced their vision for the next era of collaboration, including new generative AI capabilities and potential industry-specific cloud solutions helping customers unlock business value.
- In July 2021, Microsoft Corp. introduced Windows 365, a cloud service that introduces a new way for businesses of all sizes to experience Windows 10 or Windows 11. The Windows 365 operating system takes Microsoft to the cloud, delivering the entire Windows experience apps, data and settings to personal or corporate devices.
Fog Computing Key Market Trends
- Edge Analytics and Intelligence: One notable feature of the fog computing market trend is the increased focus on edge analysis and intelligence. By integrating machine learning and AI algorithms into air counting solutions, businesses can increase their ability to analyze data, predict outcomes and generate real-time responses. This trend is particularly important in industries such as manufacturing, where predictive maintenance and real-time monitoring can dramatically improve operational efficiency and reduce downtime.
- Collaborative Ecosystems and Partnerships: Another important trend shaping the fog computing market is the collaborative ecosystem and partnerships that emerge between technology professionals, businesses and service providers as the demand for integrated fog computing solutions increases and enables the execution of customized solutions. For example, partnerships between telecom companies and cloud service providers can offer fog computing solutions that increase network capacity and better support IoT applications.
Fog Computing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the fog computing market is experiencing vast increase pushed by means of the increasing demand for real-time facts processing and the rapid enlargement of IoT packages throughout numerous industries. However, the market faces challenges related to the safety and privateness issues, as well as the complexity of implementation and integration. Key developments encompass a focus on facet analytics and intelligence, permitting real-time insights at the brink, and the emergence of collaborative ecosystems amongst era vendors. As corporations hold to are looking for green and scalable solutions to deal with their computing needs, fog computing is poised to play a crucial position in the evolving panorama of records processing and analytics.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 85.5 million |
| Market size value in 2031 | USD 4314.38 million |
| Growth Rate | 48% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fog Computing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fog Computing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fog Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fog Computing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fog Computing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fog Computing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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