The global fog computing market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). The market growth is majorly attributed to the fact that with the growing internet penetration, the ever-rising mines of data viably need to be stored, processed, and computed. Further, the integration of advanced technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) has resulted in exponential data and the devices’ proliferation. Although cloud computing was the solution to this challenge in the first place, the cloud being a centralized computing structure had its own latency issues.
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Owing to this, the majority of renowned companies today are shifting to fog computing for keeping resources and transactions at the edge of a network. This is where fog computing aims at minimizing an organization’s cost of data storage and processing by providing it with a decentralized platform for placing resources in logical locations to enhance performance. For instance, in November 2018, FogHorn Systems announced its collaboration with hardware giant Dell, Inc. This strategy was aimed at developing platforms that will enable commercial as well as industrial customers to leverage the power of edge/fog computing quickly and provide real-time insights to streamline operations and reduce costs.
The challenges of real-time data processing, high network speeds, and latency can be overcome by using Information and Communication Technologies, such as fog computing. Such computing technologies bring compute and storage capabilities to the edge of the network and enable their optimal applications in real-time and context-based business. All industry verticals can find relevant application areas that can benefit from fog computing networks. The major players operating in the market include Dell, Inc., Cisco Systems, Inc., General Electric Co., Fujitsu Ltd., among others.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Component
o By Application
- Competitive Landscape: Dell, Inc., Cisco Systems, Inc., General Electric Co., Fujitsu Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Fog Computing Market Report Segmentation
By Component
- Hardware
- Software
By Application
- Connected Health
- Smart Energy
- Smart Manufacturing
- Smart City
- Transportation and Logistics
- Building & Home Automation
- Security and Emergency Systems
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