Fog Computing Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023
Fog computing, also known as edge computing, is defined as an extension of the cloud computing paradigm from the core of the network to the edge of the network. It majorly provides computation, storage, and services between end devices and traditional cloud servers. Servers and other intermediate nodes are majorly being considered as the core of the network. Desktop machine, mobiles, smart devices, machine, or any equipment connected to a network as endpoint device/machine are considered as edge devices.
The fog computing model is primarily suited for the Internet of Things and real-time big data analytics. It also supports distributed data collection points and is beneficial for advertising, entertainment, personal computing, and other such applications. Fogging can provide benefits by the introduction of vital information and services to the user at the network edge. Hence, the researchers and companies are more inclined toward the development of applications and services of fog computing.
According to Infoholic Research, the global fog computing market revenue is expected to reach $556.72 million by 2023, growing at a CAGR of around 61.63% during the forecast period 2017–2023. The rising number of IoT connectivity, M2M communication, need for real-time computing of time-critical process, and the increase in demand for connected devices are majorly driving the fog computing market.
Market Segmentation Analysis:
The report provides a wide-ranging evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections and assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendors presentations. Thus, the research report serves every side of the market and is segmented based on regional markets, types, applications, and end-users.
Countries and Vertical Analysis:
The report contains an in-depth analysis of the vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The prominent vendors covered in the report include Cisco Systems, ADLINK Technologies, GE Digital, Nebbiolo Technologies, Microsoft, Dell, and others. Most of the major players are based in the Americas region. The vendors have been identified based on portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
The countries covered in the report are the US, Canada, Mexico, the UK, France, Germany, India, China, and, Japan. Among these, Japan, the US, and China are expected to grow at a high rate during the forecast period (2017–2023) owing to an increase in the penetration rate of connected devices and growing adoption of cloud computing.
The report covers and analyses the global fog computing market. Various strategies, such as joint ventures, partnerships, collaborations, and contracts, have been considered. There is likely to be an increase in the number of mergers, acquisitions, and strategic partnerships during the forecast period.
The report includes the complete insight of the industry and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.
The Americas is the dominating region, which holds the largest share of the global fog computing market owing to the presence of major players in this region. In addition, they have the largest base for technological innovations and adoption. Asia Pacific is among the fastest growing regions in the global fog computing market. The region boasts of major developing economies with a focus on increasing adoption of cloud computing and the growing penetration rate of connected devices. Cloud-based technology, smart product initiatives, and increased penetration of wearables are the major technology drivers in APAC. EMEA is the third largest contributor to the global fog computing market. The region is one of the most digital and interconnected societies in the world; this is leading to increased demand for automated and M2M communication systems. The support from the regional governments is also contributing to the fog computing market growth in the region.
The report provides an in-depth analysis of the global fog computing market aiming to reduce time to market for products and services, reduce operational cost, improve accuracy, and operational performance. With the help of fog computing, various organizations can load their crucial information and increase productivity & efficiency. In addition, the solutions are proven to be reliable and improve scalability. The report discusses types, applications, and regions. Further, the report provides details about the major challenges impacting the market growth.