In a recent published report, Kenneth Research has updated the market report for Fog Computing Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2024, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2024. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2024. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2024. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2024 till March 2024 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fog Computing Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2024. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2024.
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.
Market Analysis:
The Global Fog Computing Market revenue is expected to reach $556.72 million by 2024, 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. 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.
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Competitive Analysis
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.
Regional Analysis
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.
Benefit
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.
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Table of Contents
1 Industry Outlook 9
1.1 Industry Overview 9
1.2 Industry Trends 10
1.3 PEST Analysis 10
2 Report Outline 11
2.1 Report Scope 11
2.2 Report Summary 12
2.3 Research Methodology 12
2.4 Report Assumptions 13
3 Market Snapshot 13
3.1 Total Addressable Market 13
3.2 Segmented Addressable Market 14
3.3 Related Markets 15
3.3.1 Global Computing Numerical Control Systems 15
3.3.2 Global Computing Mouse Market 16
4 Market Outlook 16
4.1 Overview 16
4.1.1 Market Definition – Infoholic Research 17
4.2 Market Trends and Impact 17
4.3 Market Segmentation 18
4.4 Porter 5 (Five) Forces 18
5 Market Characteristics 19
5.1 Evolution 19
5.2 Value Chain 20
5.3 Benefits and Challenges of Fog Computing Market 20
5.4 Factors Influencing Fog Computing 20
5.5 Market Dynamics 21
5.5.1 Drivers 22
5.5.1.1 Growing the broadband connectivity 22
5.5.1.2 Growing focus on smart cities, IoT, and M2M communication system 22
5.5.1.3 Growing digitalization 22
5.5.2 Restraints 23
5.5.2.1 High upfront cost 23
5.5.2.2 Lack of standards and interoperability 23
5.5.2.3 Low awareness 23
5.5.3 Opportunities 23
5.5.3.1 Opportunities for growth of wearable devices 23
5.5.3.2 Opportunities from developing economy 24
5.5.3.3 Opportunities for telecom providers 24
5.6 DRO – Impact Analysis 24
6 Applications 24
6.1 Overview 24
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