Fog Computing Market, By Type (Hardware, Software), By Application (Smart Energy, Smart Buildings and Home Automation, Transportation, Healthcare, Smart Manufacturing) - Forecast 2030

Fog Computing Market Overview

Fog computing is the networking layer between the hardware devices and the cloud computing platform that manages the services on the network. This networking is generally called fogging. Fog computing ensures easy flow of data, analyzing that data, processing the information, storing the data, and managing this scalable data. Smart devices are the medium to effective cloud computing. Fog computing can be segmented in many verticals likes smart homes, smart and efficient manufacturing, smart energy, healthcare, smart appliances, and many more. With the introduction of big data, a humungous amount of data is being generated these days due to a high number of smart devices connected over a common network using cloud services. This is where fog computing makes technology easier by integrating processes, problem-solving, and solution binding at a common level.

With artificial intelligence, big data, deep learning, machine learning, and other cloud computing technologies making rounds around the world in the field of boosting the economy fog computing is on the global rise. The global fog computing market is expected to generate a revenue of more than 343.48 million US dollars by the year 2030. The global fog computing market might forecast a CAGR of 55.6% by the year 2030

COVID-19 Analysis

The COVID-19 virus impacted human life in every possible aspect. The world suffered a loss in terms of economic, physical, and social growth. The governments of countries around the world had imposed lockdowns to contain the virus and infected people in local areas. Offices, schools, industries, etc. all were shut down. We saw manpower loss to a great extent. With no manpower, most of the businesses saw a declining graph bringing the world on a threshold of recession and GDP fall. Work from home strategies was imposed to keep the industrial work growing. Since cloud computing can be handled using high-speed internet and working computers, fog computing didn’t face any loss in terms of business. Rather more companies invested in the technology seeking to the growth of work from home culture.

Market Dynamics

Drivers

Internet of Things is globally considered as the major factor that led to the rise of the fog computing market. With the internet being the pivot on which today’s technology revolves, fog computing has seen a rise. With a greater number of smart devices that could be connected over the internet for a common platform fog computing has made its way into many verticals likes smart homes, smart and efficient manufacturing, smart energy, healthcare, smart appliances, and many more. High network bandwidth from different network suppliers, lower network latency, higher stimuli and response time, higher bandwidth of the network, easy flow of data, robust information, and adaptive problem-solving mechanism are the key drivers that led to the rise of fog computing.

Challenges

With the internet comes the issues like hacking, data loss, copyright issues, and many more. These same causes make the global fog computing market see authentication, privacy, data loss, security issue, and many more as the greatest challenges. This makes many companies doubt the adoption of fog computing.

Technology Analysis

Data processing, analyzing, transfer, and deploying to devices using the Internet of Things over network easier. It is the middle layer to the hardware of the company and the applications that provide services to the users. The fog computing can be considered as the integration layer that joins service providers to the consumers. With the internet at ease uploading and downloading, data has grown to an immense amount making seeding important. To maintain this data flow high network latency and continuous internet availability are required. Thus, fog networking acts as the store or buffer area through which data can be transferred across. Machine-to-machine communication using cloud platform has made easier for this data transfer which, hence, performs data analysis and give appropriate solutions, and defines decisions making algorithms as per the company’s requirements.

Study Objectives

The global fog computing market report shares a resourceful insight into the market structure and the factors responsible for the growth of fog networking. It also lists the challenges faced by the technology due to the high usage of the internet. The study also estimates the revenue the fog computing market would generate with the increase in the number of industries adopting the latest technology. It also shares a detailed analysis of the strategies the service providers follow to attract more consumers to fog computing technology. It states how the world adapts to the technology and the global leaders of the world that make way for fog computing in the market of Internet and latest technology of using a cloud platform.

Segment Overview

By Type

The global fog computing market is segmented by type in two major zones i.e. hardware and software. The hardware comprised of the IP video cameras, routers, switches, sensors, gateways, and microdata center. Software comprised of the various ERP models, and other cloud-based service models designed as per customer’s requirements.

By Application

The global fog computing market is segmented by application as smart home appliances, smart industries, smart manufacturing devices, healthcare centers, transportation areas, smart buildings, smart energy, smart automation automotive, smart grids, smart well-planned cities, connected vehicles, and many more.

Regional Analysis

Fog computing or networking is spread across all 213 countries around the world because of the continuous availability of the Internet of Things. The global fog computing market is segmented by region as Europe, North America, Asia-Pacific, and other countries like Middle East, Africa, etc. North America is expected to dominate the fog computing market and is expected to have the greatest share in the CAGR in the forecast year. Healthcare centers, smart homes, smart cars, etc. account for the rising market of fog computing in the region of North America. Asia-Pacific countries like China, Japan, Australia, India, and many more have seen a maximum number of countries switching to cloud computing and cloud platform usages because of their cost-effective nature, paving way for the fog computing technology. Cloud computing, the government’s rising interest, cloud data centers, NGOs, private companies, trade associates, and other organizations have made the world go digital and make the economy rise to a considerable amount in the Asia-Pacific region.

Competitive Landscape

Fog computing is expected to witness potential growth in the upcoming years, tapping opportunities for several vendors offering the services. The fog computing market has attracted audiences of every industry like small enterprises, larger enterprises, healthcare centers, research and development centers, constancy firms, government offices, utility companies, IT and telecommunication companies, smart energy organizations, data center companies, system integrators, financial organizations, software providers and suppliers, IT infrastructure providers, cloud providers, network service providers, and cloud suppliers. The key leaders in the fog computing market are Microsoft (US), Oracle (US), Google (US), CISCO (US), Citrix (US), Dell (US), PrismTech, Fujitsu, FogHorn Systems, Nebbiolo Technologies, ARM, Intel, and others.

Recent Developments

Fujitsu announced it’s working with tech giants like ARM, Dell, Intel, as well as, Microsoft along with the Princeton University Edge Laboratory in April 2016. The regional presence of the companies for the provision of Fog computing services is well-emerging for the market’s growth on a global scale. The partnership of this working was announced with a motive to increase the velocity of the core technology development related to the global fog computing market. 

PrismTech also made an announcement related to Vortex 2.1 in March 2016, for providing real-time data that is related to IoT platforms, which also render its support to Fog computing under the name of Vortex Fog. In the same year in June, IOx was released by Cisco Systems. This is an application that enables the platforms to provide consistent hosting capabilities to different apps functioning on the Cisco platforms, relating to Fog computing.

Report Overview

The Global Fog Computing Market makes a brief note on factors affecting the business growth and development, market growth, and market analysis for the forecast year. It shares the segments and sub-segments on the fog computing market is determined. It classifies the strategic alliances, different joint ventures, new product developments, mergers and acquisitions, research, and developments that made the market for fog computing across the world. It points to the challenges the fog networking market had to suffer and how the Internet of Things is used to maintain and overcome these setbacks.