The
global fog computing market is expected to reach USD 617.3 million by 2025,
according to a new report by Grand View Research, Inc. The increasing demand
from end-use industries is expected to propel the industry growth. Fog
computing is an advancement in Internet of Things (IoT) that has shifted data
processing out of the cloud into devices. With the growing number of IoT
deployments, the amount of data is multiplying, thereby giving rise to several
challenges involved in uploading and processing this data. This has led to the
emergence of fog computing to store and process the vast amount of data within
a short time frame. Organizations are involved in developing effective
solutions to cater to the needs of end-use industries. For implementing the fog
computing technology, it is necessary for organizations to have a robust
network performance management capability.
The
growth in the machine-to-machine communication has opened growth opportunities
for organizations to transition to fog computing to achieve faster
decision-making capabilities and reduce the operating costs through its
real-time tracking and analyzing abilities. Moreover, the technology supports
interface and resource heterogeneity along with the distributed data analytics
to address the requirements of widely distributed low latency applications.
However, the fragmented technology standards and rising interoperability issues
are limiting the industry growth.
In depth research report on Fog Computing Market
Further key findings from the report suggest:
·
The software segment is
expected to witness the fastest growth as software vendors are tapping the
opportunities generated by fog computing at several application and platform
layers
·
The routers & switches
segment is expected to account for a revenue share of over 30% by 2025; this
growth can be attributed to the need for collecting the excessive amount of
data from different applications
·
The smart manufacturing segment
is expected to grow at a CAGR of over 60% as fog computing helps the
manufacturing companies in making better decisions with real-time data to
reduce the operational costs.
·
The smart grids segment is
expected to account for over 20% of the market share by 2025; the need for
remote monitoring to reduce disruption in operations is expected to drive
demand
·
The North American fog
computing market is expected to grow at the highest rate over the forecast
period, with increased adoption of IoT in the manufacturing and healthcare
industries driving the regional growth
·
The key industry players
include PrismTech, Cisco Systems, Inc., FogHorn Systems, and Nebbiolo
Technologies
Grand
View Research has segmented the fog computing market based on solution, hardware,
application, and region:
fog computing Solution Outlook (Revenue, USD
Thousand; 2016 - 2025)
·
Hardware
·
Software
fog computing Hardware Outlook (Revenue, USD
Thousand; 2016 - 2025)
·
Gateways
·
Routers & switches
·
IP video cameras
·
Sensors
·
Micro data center
fog computing Application Outlook (Revenue, USD
Thousand; 2016 - 2025)
·
Connected vehicles
·
Smart grids
·
Smart cities
·
Connected healthcare
·
Smart manufacturing
fog computing Regional Outlook (Revenue, USD
Thousand; 2016 - 2025)
·
North America
·
U.S.
·
Canada
·
EMEA
·
Germany
·
UK
·
MEA
·
Asia Pacific
·
China
·
Japan
·
Latin America
·
Brazil
·
Mexico
Browse more research reports of this category:
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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