Fog Computing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 01/09/2017 -- The growing demand for data security and real-time operations is the key factor fueling the growth of the global fog computing market. Bandwidth restrictions of the prevailing Internet of Things (IoT) infrastructure, which is reducing the speed of big data analysis, is expected to drive the demand fog computing across the globe. However, the lack of uniformity in governance standards and the growing incidence of cyber-attacks are some of the primary challenges projected to restrict the growth of the overall market.
The global fog computing market has been divided on the basis of component into software and hardware. The software segment has been sub-segmented into fog computing platform and customized application software. The hardware segment has been sub-segmented into switches, servers, gateways, routers, and controller. Among the broader segments, software is estimated to account for a large share and lead the global fog computing market in the coming years.
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On the basis of application, the global fog computing market has been categorized into transportation and logistics, smart energy, building and home automation, connected health, security, smart manufacturing, and emergencies systems. Among these, the smart manufacturing segment is expected to lead the global fog computing market and account for a massive share in the forecast period. The growing demand for process automation in diverse industries is the key factor fuelling the smart manufacturing segment of the global market.
From a geographical viewpoint, the global fog computing market has been categorized into Asia Pacific, North America, Europe, and Rest of the World. In 2015, North America led the global fog computing market and is projected to remain in the topmost position throughout the forecast period. The rising number of investments made by leading players to develop innovative fog computing technologies is augmenting the market in North America. In addition, the rising penetration rate is expected to encourage the growth of the North America fog computing market in the next few years.
ARM Holding Plc., Intel Corporation, Fujitsu, Cisco Systems, Inc., Schneider Electric Software, LLC, Dell Inc., and Microsoft Corporation are some of the leading players operating in the global fog computing market. These players are making remarkable efforts to introduce innovative products in order to gain a competitive edge in the global market.