Latest News- Fog Computing Market: Software is expected to lead the Component segment during 2025-2029

The Fog Computing Market is being driven by Exponential increase of IoT due to rise in communication between verticals

The Fog Computing Market is expected to grow at a CAGR of 75% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 7156.5 million. In the context of Industry 4.0, the integration of connected automation systems and technologies, such as cyber-physical systems, IoT devices, cloud computing, and cognitive computing, is revolutionizing the industrial sector. This technological shift is anticipated to significantly impact the demand for fog computing. Key Industry 4.0 principles include machine interconnection, enabling machines and devices to communicate via IoT; big data collection through sensors and instrumentation for valuable insights; technical assistance for early problem identification and resolution; and decentralization, allowing systems to make autonomous decisions. These principles rely on fog computing to ensure efficient data processing and real-time decision making, thereby enhancing overall production efficiency and effectiveness. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Software
  • Hardware
• Application
  • Utilities
  • Healthcare
  • Transportation
  • Industrial
  • Others
• Connectivity
  • Wi-Fi
  • 5G and 4G LTE
  • Ethernet
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Exponential increase of IoT due to rise in communication between verticals
• Rising demand for decentralized cloud computing to reduce latency in decision-making
• Optimizing network traffic for sustainable energy usage

However, the market also witnesses some limitations, which are as follows:

• Competition from low-cost centralized and general-purpose computing infrastructure
• Data privacy and security concerns in fog computing
• Lack of standardization and performance inconsistency of fog computing solutions

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Market Scope in Fog Computing Market Research Report

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Research Analysis Overview

The Fog Computing Market encompasses technologies and solutions that extend computing capabilities from the cloud to the edge of the network, using devices such as Fog Nodes, Edge Servers, and Micro Data Centers. Edge Gateways and Orchestration enable Data Sovereignty and Localization, while Edge Computing Platforms and Solutions facilitate growth and address trends, challenges, and opportunities. Edge Computing Strategies, Standards, and Architecture ensure Governance, Security, Privacy, and Regulatory Compliance. The benefits of Edge Computing include improved ROI, impact, and risks mitigation, with applications spanning various industries and vendors.

Market Research Overview

The Fog Computing market is a segment of the larger IT software industry, specifically system software. This market caters to businesses specializing in edge computing, cloud integration, distributed computing, low latency applications, network bandwidth management, and IoT device connectivity. According to Technavio, the global system software market encompasses organizations involved in application development and management, cloud computing, data centers, hosting, IT management, mobility, networking, security, and storage software. The market size is determined by the consolidated revenue of companies providing various types of systems software, including cloud-based solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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