Fog Computing Market Size Worth US$ 322.7 Million Globally, by 2027 at CAGR of 12.7%

According to the latest report by IMARC Group, titled "Fog Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global fog computing market reached a value of US$ 151.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 322.7 Million by 2027, exhibiting at a CAGR of 12.7% during 2022-2027. Fog computing, also known as fog networking, is a defined decentralized computing framework that enables storage, control, computing, and networking services between end devices and computing data centers. It minimizes the amount of data required for the cloud, thereby saving network bandwidth and reducing the response time of the system. It also helps make processing faster and enhances the overall security and efficiency of the system. As a result, it finds application in devices that require rigorous computation and processing and provides services over a large area at different geographical locations, such as smart homes, smart cities, video surveillance, and healthcare sectors.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Fog Computing Market Trends:

The market is primarily driven by the extensive adoption of the Internet of things (IoT) devices. Fog computing solutions are widely utilized to fulfill the need to access large amounts of data while enhancing business agility by making products and services more efficient. In addition, the evolution of the Internet of things (IoT) into the Internet of Everything (IoE) requires high-speed data analytics and a shorter response time represents another major growth-inducing factor. Apart from this, the growing data security concerns due to the increasing instances of cyber threats are also accelerating the product adoption rate to connect multiple devices to a network and identify threats, such as potential malware or hacks. Moreover, governments of various countries are investing in developing smart cities, which is providing a positive thrust to market growth. Furthermore, the rising trend of connected and modern vehicles is positively influencing the employment of fog computing displays for car-to-car connectivity, which in turn is creating a positive market outlook.

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Global Fog Computing Market 2022-2027 Analysis and Segmentation:

Competitive Landscape with Key Players:

• ADLINK Technology Inc.
• Cisco Systems Inc
• Cradlepoint Inc. (Telefonaktiebolaget LM Ericsson)
• Dell Technologies Inc
• FogHorn Systems
• Fujitsu Limited
• General Electric
• Hitachi Vantara Corporation (Hitachi Ltd.)
• Huawei Technologies Co. Limited
• International Business Machines Corporation
• Oracle Corporation
• Toshiba Corporation

Breakup by Component:

• Hardware

o Gateways
o Routers and Switches
o IP Video Cameras
o Sensors
o Micro Data Center

• Software

o Fog Computing Platform
o Customized Application Software

Breakup by Deployment Models:

• Private Fog Node
• Community Fog Node
• Public Fog Node
• Hybrid Fog Node

Breakup by Application:

• Building and Home Automation
• Smart Energy
• Smart Manufacturing
• Transportation and Logistics
• Connected Health
• Security and Emergencies

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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