Global Fog Computing Market to Reach US$ 528.8 Million by 2032, Impelled by Extensive Adoption of IoT Devices

September 26, 2022 | Technology & Media

The latest report by IMARC Group, titled “Fog Computing Market Report by Component (Hardware, Software), Deployment Models (Private Fog Node, Community Fog Node, Public Fog Node, Hybrid Fog Node), Application (Building and Home Automation, Smart Energy, Smart Manufacturing, Transportation and Logistics, Connected Health, Security and Emergencies), and Region 2024-2032,” finds that the global fog computing market size reached US$ 196.8 Million in 2023. Fog computing, also known as fog networking, is a defined decentralized computing framework that enables storage, control, computing, and networking services between end devices and computing data centers. It minimizes the amount of data required for the cloud, thereby saving network bandwidth and reducing the response time of the system. It also helps make processing faster and enhances the overall security and efficiency of the system. As a result, it finds application in devices that require rigorous computation and processing and provides services over a large area at different geographical locations, such as smart homes, smart cities, video surveillance, and healthcare sectors.

Global Fog Computing Market Trends:

The market is primarily driven by the extensive adoption of the Internet of things (IoT) devices. Fog computing solutions are widely utilized to fulfill the need to access large amounts of data while enhancing business agility by making products and services more efficient. In addition, the evolution of the Internet of things (IoT) into the Internet of Everything (IoE) requires high-speed data analytics and a shorter response time represents another major growth-inducing factor. Apart from this, the growing data security concerns due to the increasing instances of cyber threats are also accelerating the product adoption rate to connect multiple devices to a network and identify threats, such as potential malware or hacks. Moreover, governments of various countries are investing in developing smart cities, which is providing a positive thrust to market growth. Furthermore, the rising trend of connected and modern vehicles is positively influencing the employment of fog computing displays for car-to-car connectivity, which in turn is creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 528.8 Million by 2032, exhibiting a CAGR of 11.3% during the forecast period (2024-2032).

Market Summary:

  • Based on the component, the market has been classified into hardware (gateways, routers and switches, IP video cameras, sensors, and micro data center) and software (fog computing platform and customized application software).
  • On the basis of the deployment models, the market has been segregated into private, community, public, and hybrid fog nodes.
  • Based on the application, the market has been segmented into building and home automation, smart energy, smart manufacturing, transportation, and logistics, connected health, security, and emergencies.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Component, Deployment Models, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Fog Computing Market to Reach US$ 528.8 Million by 2032, Impelled by Extensive Adoption of IoT Devices
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