Fog Computing Market Trends, Top Companies, Share, Growth And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Fog Computing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $0.71 billion In 2028 At A CAGR Of 35.9% :

The fog computing market size has grown exponentially in recent years. It will grow from $0.15 billion in 2023 to $0.21 billion in 2024 at a compound annual growth rate (CAGR) of 36%. The growth in the historic period can be attributed to proliferation of IoT devices, increasing demand for real-time applications, advancements in edge computing, rise of cloud computing, rapid growth of big data.

The fog computing market size is expected to see exponential growth in the next few years. It will grow to $0.71 billion in 2028 at a compound annual growth rate (CAGR) of 35.9%. The growth in the forecast period can be attributed to growing adoption of edge-as-a-service, expansion of smart cities, increased focus on edge security, advancements in edge AI, 5G network rollout. Major trends in the forecast period include edge AI maturation, quantum fog computing, enhanced fog-to-cloud integration, blockchain integration for security, dynamic fog resource orchestration.

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Fog Computing Market Major Segments
The fog computing market covered in this report is segmented -

1) By Component: Hardware, Software
2) By Deployment Models: Private Fog Node, Community Fog Node, Public Fog Node, Hybrid Fog Node
3) By Application: Building And Home Automation, Smart Energy, Smart Manufacturing, Transportation And Logistics, Connected Health, Security And Emergencies, Retail, Other Applications

Key Driver - Rising Adoption Of Smart Devices Fuels Fog Computing Growth

The growing adoption of smart devices is expected to propel the growth of the fog computing market going forward. Smart devices refer to ordinary objects enhanced with sophisticated computing capabilities, encompassing technologies such as artificial intelligence (AI) and machine learning, and are interconnected to create the Internet of Things (IoT). Fog computing on smart devices provides real-time data processing, decreases latency, and improves scalability by shifting computer workloads from centralized clouds to edge devices. For instance, in December 2021, according to ComScore, a US-based media company, 48% of internet users owned at least one smart speaker, which is 11% higher than the 37% of users who owned one in 2020. Therefore, the growing adoption of smart devices is driving the growth of the fog computing market.

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Prominent Trend - Leveraging Managed Edge-To-Cloud Solutions For Enhanced Business Outcomes

Major companies operating in the fog computing market are focusing on products with edge AI integration, such as managed edge-to-cloud solutions, to strengthen their position in the market. A managed edge-to-cloud solution is a completely automated and managed solution that allows for the handling of data from the edge (where it is created) to the cloud. For instance, in May 2022, Atos SE, a France-based information technology service and consulting company, launched Atos Business Outcomes-as-a-Service" (Atos BOaaS). Atos Business Outcomes-as-a-Service" (Atos BOaaS) a 5G, edge, and IoT offering created in collaboration with Dell Technologies, a US-based information technology company, that extends the benefits of cloud architecture to the edge and far edge, delivering AI-based company value supplemented with end-to-end automated installation, monitoring, and management. Atos BOaaS will enable enterprises to derive significant, quick, and repeatable company results from IoT data streams and analytics while managing their IoT environment from a single dashboard. Atos BOaaS transforms digital operations by practically eliminating the requirement for on-site technological support, thereby lowering their total environmental impact. Atos BOaaS can save several hundred metric tons of CO2 each year per client.

Fog Computing Market Players
Major players in the fog computing market are Microsoft Corporation, Dell Technologies Inc., Intel Corporation, International Business Machines (IBM) Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Toshiba Corporation, ARM Holdings Plc, Hitachi Vantara Corporation., ADLINK Technology Inc., Wind River Systems, Cradlepoint Inc., Huawei Technologies Co. Limited, MachineShop, Fujitsu Limited, Lynx Software Technologies, NebulaLink, ClearBlade, Saguna Networks, Virtuosys, SixSq, Nebbiolo Technologies Inc., Crosser Technologies, and Litbit.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the fog computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fog computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fog Computing Market Report Structure
3. Fog Computing Market Trends And Strategies
4. Fog Computing Market - Macro Economic Scenario
5. Fog Computing Market Size And Growth
…..
27. Fog Computing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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