Current research forecasts that the market for Fog Computing will grow up to USD 934 million by 2026. In 2017, the global market size for fog computing was anticipated to be USD 12.87 million and it is expected to get a fast growth with CAGR of 62.6% or more between 2017 to 2026.
Fog computing technology is used to enhance the competence and data computing abilities of cloud computing. It efficiently reorganizes the computing resources which are used while processing. The improved compliance of the cloud data is the chief benefit of this technology. Fog computing is in demand as helps to process the data at the edge while maintaining data privacy.
With the rising number of IoT connectivity, the volume of data is growing and hence it becomes a challenge to upload and process this data. Fog computing can run many programs on simulated equipment on one host hardware. Many software developers are already coming up with software solutions and services which can support Cloud and IoT network.
How Fog Computing Solutions benefits businesses
- Fog computing model makes a business agile and offer scope of innovation
- Fog computing is affordable and relatively faster than cloud computing solutions
- It can offer better privacy and security controls
- It helps businesses in reducing operating costs by maintaining the network bandwidth and processing the data locally
The main factors helping in favour of fog computing and its worldwide growth are – increased demand of smart applications such as smart sensors, growing implementation of IoT devices in businesses such as energy, power, manufacturing, and healthcare etc. The growth rate is inclusive of the restraints which the industry is facing due to the lack of standard processes and limited skilled resources. But, the advancement in the area IoT (Internet of Things) applications will push further growth by eliminating the factors like cyber threats in the technology space.
Estimated Road Map for Fog Computing Market
The research shares significant insights related to future of Fog Computing Market. The report forecasts that North America will dominate the industry over the estimated period. It is because of the developed and advanced economies like US and Canada. These countries have competent internet structure and great prospects for IoT applications.
Asia-Pacific will record the fastest growth with highest CAGR over the estimated period. The Fog Computing Market will achieve CAGR of 62.6% or more from 2018 to 2026.
Fog technology implementations include applications like building, automation, smart energy, transportation, logistics, smart manufacturing, and healthcare and so on. Among these markets, smart manufacturing will have the highest share.
Key major players in the industry are – GE Digital, Toshiba Corporation, Intel Corporation, Microsoft Corporation, Dell Inc., Nebbilo Technologies, Schneider Electric Software, LLC, Fujitsu, ARM Holding Plc., Cisco Systems, Inc., and PrismTech Corporation.
Key Estimations Included in the Report
We, at Centrum Market Research, use an all-inclusive research approach and focus on offering the precise market predictions and research statistics. It can be helpful to gather exceptional business insight. We include top-down and bottom-up methodologies, for qualitative market estimates and segments.
Fog Computing Market report consists of qualitative and quantitative analysis. Qualitative analysis includes industry overview and trends, market drivers and restraints, market size, growth prospects, Porter’s and PESTEL analysis, key market opportunities and competitive landscape.
Quantitative Analysis forecasts the statistics under following heads-
- Market size, estimations, and predictions from 2017 – 2026
- Market revenue estimations for component, applications and service up to 2026
- Regional market size and forecast for component and application up to 2026
- Business Financials