Fog Computing Market size was valued at USD 85.5 million in 2021 and is poised to grow from USD 126.66 million in 2022 to USD 4314.38 million by 2030, growing at a CAGR of 48% in the forecast period (2023-2030).
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.
The primary reasons driving the fog computing market include the development in the use of smart devices to support smart grids, smart buildings, smart cities, automotive networks, and software-defined networks as well as the rising demand for connected devices among end users. The growth of the connected fog computing market is accelerated by the rise in demand from the automotive industry, which makes connected fog computing an ideal platform for delivering a variety of smart connected vehicles (SCV), safety, mobility and location awareness, traffic support, real-time interactions, low latency, and safety. The emergence of 5G technology also has an impact on the fog computing market. The role of fog architecture plays in the advancement of virtual reality, which is AI, where the majority of information recovery and processing is forwarded to related devices, including smart home storage, and the cloud, among others. Additionally, government initiatives to support the advancement and their deployment in fog computing, the development of the internet of everything (IoE) from the internet of things (IoT), the growing demand for high-speed data analytics and quicker response times, and the increase in research and development activities in the fog computing sector all have a positive impact on the market. Future profitable potential for the companies in the fog computing industry is also expanded by advancements and widespread use of cloud computing, machine learning, and artificial intelligence.
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The global fog computing market size was estimated at USD 9.33 million in 2016 and is anticipated to reach USD 617.3 million by 2025.
Fog computing, also termed as “edge computing” or “fogging” in association with cloud emphasis helps in faster decision-making strictly with computations on cognizable data by deployment of fog nodes close to Internet of Things (IoT) aided devices, placed anywhere in the network trajectory either on a factory floor, top of a power pole or an oil rig, subject having connectivity, computational and storage imperatives.The primary drivers for fog computing market are inundation of IoT devices with parallel IoT connectivity, subsequent growth in cloud computing market size and Machine to machine (M-M) connectivity.
The factors driving the fog computing market size include computational power speed, increased operational efficiency and cost savings across all verticals in the industry.
Software further disintegrates into fog computing platform and customized application software.
By Application, the fog computing market size comprises building and home automation, smart energy, smart manufacturing, transport and logistics, connected health, security and emergencies and others-smart environment and smart retail.By geography, the market size extends to North America, Europe, Asia Pacific, MEA and Latin America.
The increased dominance of the Fog Computing Market by Software is underscored by presence of majority of the players in cloud and IoT ecosystem and would benefit by leveraging the system architecture at platform and applications hierarchy.Download Sample Report @ https://www.millioninsights.com/industry-reports/fog-computing-market/request-sampleBeing a software domain, the providers are not stranded with heavy capital investment as would be with hardware, thus boosting the market.
With greater processing power than most local servers, cloud computing While organizations are seeing huge benefits from cloud computing, there is a related technology that can increasingly enable businesses: fog computing.
According to Network World, fog computing is defined as, “the concept of a network fabric that stretches from the outer edges of where data is created to where it will eventually be stored, whether that’s in the cloud or in a customer’s data center.
Public infrastructure as a service (IaaS) cloud vendors can be thought of as a high-level, global endpoint for data; the edge of the network is where data from IoT devices is created.” Subscribe free now to get more technological updates!
As a localized form of cloud computing, the processing points are closer to where the data is produced instead of a centralized server.
How does fog computing help a business?
In this way, fog is an intelligent gateway that offloads clouds enabling more efficient data storage, processing, and analysis.” How fog computing can increase your HR efficiencies.Fog computing has helped to combine the speed of local servers with the processing, storage, and analytical capacity of cloud computing.
