Fog computing Market size to rise at a whopping 60%+ CAGR to 2024

Major fog computing market players are Microsoft, IBM, AT&T, Cradlepoint, Foghorn, Cisco, VIMOC, Dell, Nebbiolo, GE Digital, Intel, ADLINK, ARM, and AppFog.

The fog computing market is driven by the rising use of IoT technology. IoT brings all connected systems on the internet making it difficult to use the main central servers with billions of connected devices. Furthermore, certain applications of IoT require low latency and fast operations, which can be achieved using decentralized computing fog technology. The penetration of cloud computing platforms is also fostering the fog computing market growth. Cloud computing is a driving force in the IT ecosystem since the last decade and around 80% of the organizations are using the cloud computing platform for their business operations and this is further anticipated to increase in the future.

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The fog computing solution offers several benefits to the business by extending the cloud near the edge devices to generate and process the data. Some of the advantages include cost effectiveness, better security, deeper insights, and privacy control. The model increases the business agility by providing faster innovation and affordable scaling options. However, security, accuracy, and reliability issues associated with the model are some of the major market hinderances. The system integrates huge data from various organizations, customers, and distributed networks, making it difficult to safeguard it from cyber-crimes and data thefts. The evolution of technologies, such as IoE and 5G, is estimated to offer new growth opportunities to the fog computing market.

The hardware segment holds 58% share in the fog computing market due to enhanced functionality, components with lower cost, and improvements in the design. The reduction in the prices of electronics and networking storage devices is observed as a parameter influencing the market. It is estimated that sensors are leading the hardware components. The small size of sensors such as nano and microsensors and the high levels of integration are enriching the market growth.

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The energy & utility sector is leading in the implementation of the fog model. The sector is continuously adopting advancements in the technology for enhancing the efficiency of business operations, gaining the competition and market share. The manufacturing sector is also one of the major consumers of the fog computing market and generates a huge industrial revenue. The growth of market is also due to the rising demand for process automation in manufacturing to increase the productivity and gain an edge over competitors.

North America holds a majority of the fog computing market as it has the presence of key market players such as IBM, Cisco, Dell, and Microsoft. The rising R&D activities and the use of the technology in industry verticals such as logistics, healthcare, and automotive in the country are fostering the growth.

Asia Pacific fog computing market is estimated as the fastest growing region due to the faster adoption of the smart devices and cloud platforms in countries such as India, South Korea, and China. Furthermore, developing smart infrastructure and government initiatives or policies in the developing economies are also estimated to have an impact on the growth of the market.

Browse key industry insights spread across 350 pages with 757 market data tables & 64 figures & charts from the report, “Fog Computing Market Size By Component (Hardware [Controllers, Gateways, Routers & Switches, Sensors], Software, Services [Professional Services, Managed Services]), By Deployment Model (Fog as a Product (FaaP), Fog as a Service (FaaS)), By Application (Automotive, Energy & Utility, Healthcare, IT & Telecom, Manufacturing, Retail, Smart Infrastructure, Transportation), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, MEA), Growth Potential, Competitive Market Share & Forecast, 2017 - 2024” in detail along with the table of contents:

Table of Contents (ToC) of the report:
Chapter 3. Fog Computing Market Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2015 - 2024
3.4. Industry ecosystem analysis
3.5. Fog computing architecture analysis
3.6. Fog computing processing features
3.7. Technology & innovation landscape
3.8. Regulatory landscape
3.9. Industry impact forces
3.9.1. Growth drivers Increasing adoption of IoT and M2M devices Growing penetration of cloud computing Enhanced data security & real-time operation by fog computing
3.9.2. Industry pitfalls & challenges Security, reliability, and fault tolerance issues associated with fog computing Complex architecture of decentralized computing
3.10. Growth potential analysis
3.11. Porter's analysis
3.12. PESTEL analysis
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