Friday, 12 April 2019

Fog Computing Market To Surpass $934 Million by 2026 - Polaris Market Research




New York 12 April 2019: The report “Fog Computing Market [By Hardware (Routers/Gateways, Switches, Controllers, Sensors, Others); By Software (Fog Computing Platforms, Custom Application Software); By Service (Professional Service, Traininng Service); By Application (Smart Homes/Smart Cities, Smart Energy, Smart Manufacturing, Connected Healthcare, Smart Transport, Others) By Regions]: Market Size & Forecast, 2017 – 2026” The global fog computing market is expected to reach USD 934 million By 2026 from USD 12.16 million in 2017, at a CAGR of 62.6% according to a new study published by polaris market research.
Fog computing helps in enhancing the efficiency as well as data computing competencies for cloud computing. The major use of fog computing is to enhance efficiency however, the use of fog computing can also be done for security and compliance reasons. Fog computing is used in several applications including, smart city, smart buildings, smart grid, vehicle networks and software- defined networks.
On the basis of components, the market is segmented into hardware and software. The software market is growing at a highest CAGR and has accounted for the largest share attributed to low cost, increasing functionality, as well as advancements in features & designs. Furthermore, the constantly decreasing costs of sensors, storage devices, and semiconductor devices is one of the factor which is fueling the market growth of hardware in fog computing. Another factor responsible for the market growth of fog computing is the developments in network technology resulting in reduction of OPEX across business organizations.
Currently, the market for fog computing is dominated by North America with countries including, US and Canada taking initiatives to promote the adoption of IoT in the region. Also, Europe is the second largest market after North America, which is also experiencing growth in the adopting of fog computing and IoT. However, APAC is expected to witness high growth during the forecast period attributed to the increasing awareness of fog computing in these regions.
Major companies profiled in the report include Cradlepoint, Inc., PrismTech, FogHorn Systems, Cisco Systems, Inc., Crosser Technologies, Nebbiolo Technologies, Microsoft Corporation, Intel Corporation, Fujitsu, Arm Holding Plc., and ADLINK Technology Inc.
Key Findings from the study suggest North America is expected to command the market over the forecast years. APAC is presumed to be the fastest growing market, with highest CAGR over the forecast period. The fog computing market is presumed to develop at a CAGR of over 62.6% from 2018 to 2026. The fog computing technology is used in applications such as building & automation, smart energy, transportation & logistics, smart manufacturing, connected health, and others.
Among the application segment, smart manufacturing is expected to hold the largest share. This is due to the several numbers of sensors required for varied functions in manufacturing facilities, that generates enormous amount data. Fog computing helps manufacturing companies to reduce operating cost by making use of real-time data to take efficient decisions.
Key Segments:
Fog Computing Market Size And Forecast By Hardware
·         Key Findings
·         Routers/Gateways
·         Switches
·         Controllers
·         Sensors
·         Others
Fog Computing Market Size And Forecast By Software
·         Key Findings
·         Fog Computing Platforms
·         Custom Application Software
Fog Computing Market Size And Forecast By Service
·         Key Findings
·         Professional Service
·         Training Service
Fog Computing Market Size And Forecast By Application
·         Key Findings
·         Smart Homes/Smart Cities
·         Smart Energy
·         Smart Manufacturing
·         Connected Healthcare
·         Smart Transport
·         Others
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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Polaris Market Research
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