Fog Computing Market
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What Is the Expected CAGR for the Fog Computing Market Through 2025?
The size of the fog computing market has seen a dramatic expansion in the past few years. The market will rise from $0.21 billion in 2024 to $0.28 billion in 2025, experiencing a compound annual growth rate (CAGR) of 36.8%. The notable growth during the historic period is due to the surge of IoT devices, the escalating demand for applications in real-time, progress in edge computing, the emergence of cloud computing, and the swift growth of big data.
What’s the Projected Size of the Global Fog Computing Market by 2029?
Over the coming years, the fog computing market is projected to experience a phenomenal upward trajectory in its size, reaching $0.95 billion by 2029 with an impressive CAGR of 35.4%. This robust growth throughout the forecast period is largely due to various factors including the surge in edge-as-a-service adoption, the development of smart cities, a stronger focus on edge security, breakthroughs in edge AI, and the rollout of 5G networks. The forecast period also expects major trends like the maturing of edge AI, the emergence of quantum fog computing, better integration between fog and cloud, the introduction of blockchain for improved security, and dynamic management of fog resources.
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Top Growth Drivers in the Fog Computing Industry: What’s Accelerating the Market?
The fog computing market is predicted to expand due to the increasing use of smart devices. These smart devices are everyday items augmented with complex computing functionalities, including the Internet of Things (IoT) established through machine learning and artificial intelligence (AI). This ‘fog’ computing enables immediate data processing, reduces latency, and enhances scalability by transferring computer tasks from centralized clouds to edge devices. For example, Uswitch Limited, a financial conduct authority in the UK, reported in February 2023 that since 2022, UK mobile connections have increased by 3.8%, numbering 71.8 million. Projections for 2025 estimate the UK population at 68.3 million, with 95% (around 65 million people) expected to possess a smartphone. Hence, the fog computing market is being fuelled by the increased usage of smart devices.
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What Trends Will Shape the Fog Computing Market Through 2029 and Beyond?
Significant players in the fog computing industry are channeling their efforts towards products that incorporate edge AI, such as handled edge-to-cloud solutions, to fortify their market positioning. Managed edge-to-cloud solutions are entirely automated and managed, facilitating the process of handling data from where it is generated (the edge) to the cloud. In May 2022, for example, Atos SE, an IT service and consulting company headquartered in France, unveiled its product, Atos Business Outcomes-as-a-Service (Atos BOaaS). Developed in partnership with Dell Technologies, a US-based IT firm, Atos BOaaS is a solution that enhances the advantages of cloud infrastructure, extending it to the edge and far edge whilst delivering AI augmented business value with thorough automatic set-up, monitoring, and management. With Atos BOaaS, businesses can extract substantial, rapid, and repeatable business outcomes from IoT data streams and analytics and manage their IoT settings from a solitary dashboard. It revolutionizes digital operations by nearly eradicating the need for on-site technical assistance, thus reducing the overall environmental impact. Atos BOaaS could reduce carbon emissions by several hundred metric tons annually per client.
What Are the Main Segments in the Fog Computing Market?
The fog computingmarket 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
Subsegments:
1) By Hardware: Fog Nodes, Networking Equipment, Gateways
2) By Software: Fog Computing Platforms, Data Management Software, Security Software
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Which Top Companies are Driving Growth in the Fog Computing Market?
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.
Which Regions Will Dominate the Fog Computing Market Through 2029?
North America was the largest region in the fog computing market in 2024. 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.
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