Fog computing is a technology used to improve the efficiency and data computing capabilities for cloud computing. It decentralizes the computing resources required for processing in the most efficient way.
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The enhanced compliance of the cloud data is prime advantage of the technology. The need to process voluminous amount of data over the cloud creates rapid need for fog computing.
High threat to the security and privacy of the processed data are major concerns.
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Limited bandwidth of existing networks, increase in real-time operations, and analytical usage of data drive the growth of the market.
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However, lack of availability of skilled workforce and lack of uniform protocols restrain the market. In addition, complexity of the technology due to decentralized architecture and increased cyber threats pose noteworthy challenges to the fog computing market.
Nevertheless, increase in adoption of Internet of Things (IoT) devices creates ample opportunities in the global market.
The fog computing market is highly fragmented due to presence of diversified local and international players. The market is in its growth stage and experiences a sharp increase during the forecast period.
Product and technological innovation are key strategies adopted by the market leaders to expand their customer reach and increase the market share. For instance, Cisco Systems Inc.
launched its IOx platform for advance fog computing on January 2014, which is anticipated to boost its market share in fog computing.
The market is segmented by component type, industry vertical, and region. Based on component type the market is bifurcated into hardware and software.
Based on industry vertical, it is classified into banking, financial, and insurance (BFSI); aerospace & defense; healthcare; public sector; IT & telecom; retail; and others. The market segmentation based on geography includes North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive analysis and profiles of the major market players profiled in the report include Cisco Systems Inc., Microsoft Corporation, ARM Holdings PLC, Intel Corporation, GE Digital LLC, Fujitsu Ltd., Schneider Electric Software' LLC, Toshiba Corporation, Prismtech Corporation, and Dell Inc.
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