According to the report, the global fog computing market was USD 35 million in 2018 and is expected to reach approximately USD 768 million by 2025, at a CAGR of 55.4% between 2019 and 2025.
New York, NY, Aug. 16, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fog Computing Market by Component (Hardware and Software) and by Application (Building & Home Automation, Smart Energy, Connected Health, Smart Manufacturing, Connected Vehicles, Security & Emergency System, and Transportation & Logistics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global fog computing market was USD 35 million in 2018 and is expected to reach approximately USD 768 million by 2025, at a CAGR of 55.4% between 2019 and 2025.
Fog computing is described as fogging or edge computing, which acts as a layer between hardware and data centers of cloud computing and extends cloud capabilities by providing virtualized resources and unified solutions to the network edge. The fog computing market is gaining global acceptance across large enterprises and small enterprises, owing to its cost-effectiveness feature over cloud computing. Fog computing is used where cloud computing is not a feasible option for IoT. Its distributed approach attends the various needs of industrial IoT and IoT Moreover, transferring data collected by IoT devices and smart sensors to cloud for analysis and processing is a time-consuming and costly process. This is where fog computing can help industries, as it reduces the to and fro communication between cloud and sensors and improves the performance of IoT devices. The fog computing market is also growing notably due to the increasing adoption of the internet of things. Additionally, increased government spending along with rising private investments for the development of IoT and information technology is further expected to propel the fog computing market.
Browse through 37 Tables & 23 Figures spread over 126 Pages and in-depth TOC on “Global Fog Computing Market Size & Trends 2018: By Component Type, Applications, Industry Share, Segments, Analysis and Forecast, 2018–2025”.
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The type segment of the fog computing market is fragmented into hardware and software. The software segment is expected to witness substantial growth over the forecast time period, owing to its various benefits, such as low capital investment and less data upload time. By application, the fog computing market includes smart energy, building, and home automation, smart manufacturing, connected vehicles, connected health, transportation and logistics, and security and emergency system. Connected vehicles are expected to hold a substantial market share, owing to the rising demand for applications like driving pattern and real-time analysis. Connected health is expected to play a vital role in the fog computing market, as it streamlines the cloud to offer users better control over data storage and access to essential statistics.
North America is anticipated to hold a significant share of the fog computing market globally, owing to the increasing IoT usage and rising government spending for technological advancements. The growing adoption of industry 4.0 and the rising demand for connected devices will further boost this regional market. The U.S. and Canada are anticipated to majorly fuel the market demand in the long run. Moreover, the presence of prominent market players, such as Nebbiolo Technologies, Cisco Systems, Dell, and Intel, will also propel this regional market. Furthermore, in April 2016, Fujitsu announced that it is working with the Princeton University Edge Laboratory, Microsoft, Intel, and Dell to form an association to speed-up the development process of core computing technology.
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Europe is anticipated to hold a major share of the fog computing market globally over the estimated time period. Solution providers are working on expansion plans to boost their broadband network necessary for smart producing/manufacturing to be systematically implemented.
The Asia Pacific is likely to grow substantially and hold a sizeable share over the projected timeframe in the fog computing market globally. This can be attributed to the growing government spending in the automobile industry and IoT. Manufacturers in China and Japan are opting for automation in their plants to speed-up the manufacturing process and minimize wastage, which will further support the regional market. Large enterprises and SMEs are opting for fog computing, owing to its cost advantages over cloud computing as only limited data is transferred on the cloud.
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Latin America will foresee notable market growth over the forecast timespan. Argentina and Brazil have tremendous potential in the fog computing market, owing to the growing fog computing demand in IoT and automobile sectors. The Middle East and Africa is likely to grow moderately over the anticipated time period, owing to the rising technological investments in the healthcare sector and increasing spending on modern infrastructures, such as smart homes, connected vehicles, and smart factories.
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Some noticeable players of the fog computing market are Microsoft Corporation, Cisco Systems, Toshiba Corporation, Dell, Fujitsu, Intel, Schneider Electric Software, ARM, Nebbiolo Technologies, and PrismTech Corporation.
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This report segments the global fog computing market into:
Global Fog Computing Market: Component Analysis
- Customized Application Software
- Fog Computing Platform
Global Fog Computing Market: Application Analysis
- Building and Home Automation
- Smart Energy
- Connected Health
- Smart Manufacturing
- Connected Vehicles
- Security and Emergency System
- Transportation and Logistics
Global Fog Computing Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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