Business Technology

Fog Computing Market – Trends, Share, Scope, Research Insights by 2024

Fog computing, also known as fog networking, is a decentralized computing infrastructure that is likely to emerge as next generation cloud computing. In fog computing, computing and storage of data are distributed in the most logical and efficient manner between the data source and the cloud. This is because the Internet of Things (IoT), a technology closely associated with cloud, is creating enormous volumes of data, but by the time it finds its way to the cloud for analysis, it is often late to act upon it. Fog computing helps to do away with this drawback by analyzing the most time sensitive data at the network edge, close to its generation source, instead of sending large volumes of data to the cloud for historical analysis and storage.

The two main components in the fog computing market are hardware, comprised of servers, routers, switches, gateways, and controller, and software comprised of customized application software and fog computing platform. Of the two, the software segment generates maximum revenue because of the low capital requirement. Fog computing is finding application in building and home automation, smart energy, connected health, smart manufacturing, transportation and logistics, security and emergencies systems among others.

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Geographically, North America currently leads the global fog computing market and going forward too, is slated to maintain its leading position on the back of substantial investments made in the region to develop this technology. High penetration rate of the fog computing technology is primarily responsible for the growth in market of North America.

Some of the prominent participants in the global market for fog computing are Microsoft Corporation, Cisco Systems, Inc., Dell Inc., ARM Holding Pl., Fujitsu, Intel Corporation, and Schneider Electric Software, LLC, etc.

The Fog computing market is segmented by components and by application. The market by components has been further segmented into hardware and software. The hardware segment is further segmented into servers, switches, routers, gateways and controller. Software has been further segmented into customized application software and fog computing platform. The fog computing market by application is segmented into smart energy, building & home automation, smart manufacturing, connected health, transportation & logistics, security and emergencies systems among others.

The key players operating in the fog computing market includes Microsoft Corporation (U.S), Cisco Systems, Inc. (U.S), Dell Inc. (U.S), ARM Holding Pl. (U.K.), Fujitsu (Japan), Intel Corporation (U.S) and Schneider Electric Software, LLC (Japan) among others.

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