Fog-Computing Market Global Market – Overview
Fog computing is the intermediate layer between the cloud computing datacentres and the hardware which supports the management of services at edge of the network than in the cloud. It enables efficient data processing, analysis, management, and storage before the data is transported to the cloud which is achieved with the help of smart devices. Increasing number of connected devices in the smart applications and data transfer to the cloud generates a huge amount of data. Fog computing helps in managing the data efficiently at network edge than processing the data in the cloud. It integrates both process and intelligence at data level thereby solving the problem and in decision making, transferring only the valuable data to the cloud.
Major factors driving the growth of the fog computing market are the increasing penetration (IoT) of internet of things in smart homes, smart energy solutions and in smart manufacturing. Other supporting factors for the increased adoption of fog computing are high response time, high network bandwidth, minimized network latency, and problem solving at data level. Issues concerning the security and authentication are some of the factors hindering the market growth. Also, the growth in machine-to-machine communication has led to strong growth opportunities for organizations to achieve faster decision-making capabilities and reduce the operating costs through its real-time tracking. The software segment is expected to witness the fastest growth as in the fog computing market, as software vendors are tapping the opportunities generated by fog computing at several application and platform layers. Key players in the fog computing market are Cisco Systems Inc. (US), Dell Inc. (US), Microsoft Corporation (US), Toshiba Corporation (Japan), Intel Corporation (US) and Fujitsu (Japan).
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Segmental Analysis
The segmental evaluation of the fog computing market is carried out on the basis of type, application and region. On the basis of application, the fog computing market is segmented into smart energy, building & home automation, smart manufacturing, connected health, security & emergencies, smart transportation, and others. Based on the region, the fog computing market is segmented into North America, Europe, Asia-Pacific and other critical regional markets. Based on the type, the fog computing market is segmented into hardware and software such as customized application software and fog computing platform.
Detailed Regional Analysis
The regional investigation of the fog computing is conducted for regions such as North America, Europe, Asia-Pacific and other critical regional markets. It has been perceived that the regional market for North America would govern the fog computing market due to influences such as growing implementation of internet of things in uses such as connected healthcare and smart homes. The several companies funding the expansion of fog computing market are situated in the North American region. The Asia Pacific regional fog computing market is projected to display encouraging development in the forecast period due to aspects such as mounting concentration of governments, cloud and data centre businesses, trade organizations and non-governmental organizations regarding cloud computing and the digital economy. The expansion of the fog computing market in the Asia Pacific region is estimated to be bolstered by the investment being made towards creation of a more robust portfolio in the coming period. The European region is also expanding its market share as the need to manage data efficiently is estimated to fuel the next stages of expansion.
Competitive Analysis
The competition in the market is estimated to ramp up because of the lack of profitable opportunities in the market. The optimization of the resources in the market is predicted to create promising options for growth in the impending period. The recalibration of the supply chains is estimated to undertaken at a fast pace in this period ahead. The economic downturn is predicted to induce contenders into carrying out deliberation of their opportunities to plan for the long term expansion. Also, the market is estimated to focus on a locally based structure to reduce operating cost in these times. The imperative conditions for growth are estimated to spur the market considerably in the impending period. The need to transform the service and the product delivery is projected to create a favourable scope for development of the market. The marketing budgets in the market are estimated to be restricted due to the lack of liquidity in the market, and this is foreseen to transform the overall market in the impending period.
The important companies in the fog computing market are Microsoft Corporation (U.S.), ARM Ltd. (U.K.), Toshiba Corporation (Japan), Intel Corporation (U.S.), Dell Inc. (U.S.), Fujitsu (Japan), Schneider Electric Software, LLC (Japan), PrismTech Corporation (U.S.), Cisco Systems Inc. (U.S.), and Nebbiolo Technologies (U.S.) among others.
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Industry News
August 18, SONM, launches new fog computing platform
SONM, announced the launch of a fog computing platform which is designed to allow users to connect personal devices to one platform, creating a decentralized marketplace where consumers and suppliers can rent and purchase computing power from one another to be used for specific computing tasks.
November 17, NEC Develops a Fog Computing Framework for Edge-Based IoT Services
NEC Laboratories announced the development of FogFlow, a fog computing framework that brings context information management to the edge of the networks and enables on-demand context information processing.
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