The global fog computing market size is expected to reach USD 6,078.16 Million by 2032, according to a new study by Polaris Market Research. The report “Fog Computing Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software), By Deployment Models, By Application, By Region, Segments & Forecast, 2019 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising adoption of smart devices & IoT connectivity and surging demand for connected devices are the key driving factors for the market. The increasing need for low-latency connectivity and the growth of edge computing are other factors responsible for boosting the market.
Fog computing is a type of computing architecture that extends the capabilities of cloud computing by bringing data processing closer to the edge of the network. The term "fog" is used to describe a cloud that is closer to the ground, i.e., closer to where the data is generated.
Fog computing are majorly used in various applications, including the Internet of Things (IoT), smart cities, healthcare, transportation, manufacturing, and more. For example, fog computing can be used in the IoT to process and analyze data from sensors and other devices in real-time, allowing immediate insights and actions. In smart cities, fog computing can manage traffic, monitor air quality, and provide real-time alerts in emergencies.
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While fog computing offers many benefits, it also faces significant challenges, including the need for large-scale, general-purpose fog computing platforms and security, interoperability, cost, complexity, and integration issues. For instance, fog computing requires integration with existing IT systems, including cloud infrastructure, which can create challenges for organizations already investing significantly in their IT infrastructure.
Polaris Market Research has segmented the fog computing market report based on component, deployment models, application, and region:
Fog Computing Market, Component Outlook (Revenue - USD Million, 2019 - 2032)
Fog Computing Market, Deployment Models Outlook (Revenue - USD Million, 2019 - 2032)
Fog Computing Market, Application Outlook (Revenue - USD Million, 2019 - 2032)
Fog Computing Market, Regional Outlook (Revenue - USD Million, 2019 - 2032)