Fog Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Fog Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global fog computing market size reached US$ 174.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 361.0 Million by 2028, exhibiting a growth rate (CAGR) of 12.90% during 2022-2028.

Fog computing is a decentralized computing framework that facilitates computing, storage, control, and networking services between end devices and computing data centers. It reduces the amount of data required for sending to the cloud, thereby saving network bandwidth and minimizing the response time of the system. It also assists in making processing faster and improving the overall security and efficiency of the system. At present, it finds application in devices that require rigorous computation and processing and providing services over a large area at different geographical locations.

Fog Computing Market Trends:
The agility and flexibility of big data solutions have led to an increase in the use of the Internet of Things (IoT), thereby resulting in the growing volume of digital data generation. This represents one of the major factors encouraging enterprises and large organizations across the globe to adopt fog computing solutions for fulfilling the need of quickly accessing large amounts of data. Additionally, these solutions increase business agility by making the production of revenue-generating products and services more efficient. They also provide a common framework for seamless collaboration and communication. Thus, the growing awareness about the advantages associated with fog computing solutions is increasing their sales over cloud computing. Besides this, the growing data security concerns on account of the rising instances of cyber threats are also propelling their use to connect multiple devices to a network and identify threats, such as potential hacks or malware. Furthermore, the emerging trend of connected and modern vehicles is positively influencing the deployment of fog computing displays for car-to-car connectivity. Moreover, governments of several countries are investing in developing smart cities, which is creating a positive market outlook.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fog computing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment models and application.

Breakup by Component:

Hardware
Gateways
Routers and Switches
IP Video Cameras
Sensors
Micro Data Center
Software
Fog Computing Platform
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
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Toshiba Corporation.

Key Questions Answered in This Report
1. How big is the global fog computing market?
2. What is the expected growth rate of the global fog computing market during 2023-2028?
3. What are the key factors driving the global fog computing market?
4. What has been the impact of COVID-19 on the global fog computing market?
5. What is the breakup of the global fog computing market based on the component?
6. What is the breakup of the global fog computing market based on the application?
7. What are the key regions in the global fog computing market?
8. Who are the key players/companies in the global fog computing market?