The global fog computing market size is expected to reach USD 8.35 billion by 2030, registering a CAGR of 50.8% from 2024 to 2030. The increasing demand from end-use industries is expected to propel the industry growth. Fog computing is an advancement in Internet of Things (IoT) that has shifted data processing out of the cloud into devices. With the growing number of IoT deployments, the amount of data is multiplying, thereby giving rise to several challenges involved in uploading and processing this data. This has led to the emergence of fog computing to store and process the vast amount of data within a short time frame. Organizations are involved in developing effective solutions to cater to the needs of end-use industries. For implementing the fog computing technology, it is necessary for organizations to have a robust network performance management capability.
The growth in the machine-to-machine communication has opened growth opportunities for organizations to transition to fog computing to achieve faster decision-making capabilities and reduce the operating costs through its real-time tracking and analyzing abilities. Moreover, the technology supports interface and resource heterogeneity along with the distributed data analytics to address the requirements of widely distributed low latency applications. However, the fragmented technology standards and rising interoperability issues are limiting the industry growth.
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The growth in the machine-to-machine communication has opened growth opportunities for organizations to transition to fog computing to achieve faster decision-making capabilities and reduce the operating costs through its real-time tracking and analyzing abilities. Moreover, the technology supports interface and resource heterogeneity along with the distributed data analytics to address the requirements of widely distributed low latency applications. However, the fragmented technology standards and rising interoperability issues are limiting the industry growth.
Fog Computing Market Report Highlights
- The software segment dominated the market and accounted for a market revenue share of 64.1% in 2023. Fog computing software contributes to cost reduction and operational efficiency by minimizing the need for extensive data transmission to centralized clouds.
- The hardware segment is expected to register the fastest CAGR during the forecast period. Edge devices, such as routers, gateways, and switches, are becoming more advanced and capable of handling complex computing tasks.
- The smart manufacturing segment accounted for the largest market revenue share in 2023. Smart manufacturing relies on interconnected devices and systems that generate vast data.
- The smart cities segment is anticipated to register the fastest CAGR over the forecast period. Smart cities rely on a network of connected devices and systems to function effectively.
- North America fog computing market dominated the market with revenue share of 43.4% in 2023. North America includes a significant number of companies in the fog computing market, including major technology companies, startups, and research institutions.
The leading players in the Fog Computing market include:
- Aikaan Labs Pvt. Ltd.
- Aispire, Inc.
- Cisco Systems, Inc.
- Crosser Technologies
- Ekkono Solutions AB
- IBM Corporation
- Intel Corporation
- IOTech Systems Limited
- Microsoft
- Schneider Electric
- TERAKI GmbH
- TTTech Computertechnik AG
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Fog Computing Market Variables, Trends, & Scope
Chapter 4. Fog Computing Market: Component Estimates & Trend Analysis
Chapter 5. Fog Computing Market: Application Estimates & Trend Analysis
Chapter 6. Fog Computing Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
The leading players in the Fog Computing market include:- Aikaan Labs Pvt. Ltd.
- Aispire, Inc.
- Cisco Systems, Inc.
- Crosser Technologies
- Ekkono Solutions AB
- IBM Corporation
- Intel Corporation
- IOTech Systems Limited
- Microsoft
- Schneider Electric
- TERAKI GmbH
- TTTech Computertechnik AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 372.9 Million |
| Forecasted Market Value ( USD | $ 8350 Million |
| Compound Annual Growth Rate | 50.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
