PUBLISHER: Allied Market Research | PRODUCT CODE: 1365672
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365672
According to a new report published by Allied Market Research, titled, "Fog Networking Market," The fog networking market was valued at $218.46 million in 2022, and is estimated to reach $7.8 billion by 2032, growing at a CAGR of 43.5% from 2023 to 2032.
The proliferation of IoT devices is a major driver for fog networking. With billions of connected devices generating massive amounts of data, fog computing provides a decentralized architecture that enables data processing and analysis at the edge, closer to where the data is generated. This reduces latency, improves efficiency, and enhances real-time decision-making. Furthermore, advancements in edge computing infrastructure, such as the deployment of edge servers and miniaturized data centers, have paved the way for scalable and resilient fog networks. As a result, these advancements have fueled the growth of the fog networking market by enabling the development of innovative solutions across various industries, including healthcare, manufacturing, transportation, and smart cities, among others. However, the infrastructure challenges such as limited connectivity, outdated equipment, bandwidth limitations, and cost considerations collectively impede the growth of the fog networking market. In addition, shortage of professionals with expertise in fog computing and the skill gap hampers the adoption and implementation of fog networking solutions, as organizations struggle to find qualified personnel to design, deploy, and manage fog computing infrastructure. On the contrary, fog computing offers scalable and cost-effective solutions by distributing computation and storage resources across edge devices. It also helps to eliminate the need for massive, centralized infrastructure, reducing infrastructure costs and enabling scalability based on demand.
The fog networking market is segmented on the basis of component, application, and region. By component, it is segmented into hardware, software and service. By application, it is segmented into building & home automation, smart manufacturing, connected healthcare, smart energy, transportation & logistics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in fog networking market such as Arista Networks, Inc., Amazon Web Services, Inc., Cisco Systems, Inc., Dell Inc., Fujitsu, Google Cloud Platform, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation., and Microsoft Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the fog networking industry.
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