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Fog Computing Market Size to Reach USD 539.8 Million by 2026 at CAGR 44.3% - Valuates Reports
The increasing demand for low latency , high throughput applications in various use cases like smart grids, smart cities, smart buildings, vehicle networks, IOT, smart transportation, logistics and manufacturing are major factors driving the growth of fog computing market size.
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Raising self-driving vehicles and connected cars is expected to drive the fog computing market size. In both the use cases, the data generated by the vehicle must be analyzed and processed quickly based on the information provided, such as traffic, driving conditions, and environment. Fog computing allows this data to be processed quickly at high throughput and low latency.
Many verticals, such as supply chain management and logistics, smart transportation, and digital healthcare, require low latency. Advantages such as low latency, reduced traffic, and bandwidth optimization offered by fog computing are expected to increase the adoption of fog computing, thereby increasing the fog computing market size. When an application initiates an action with cloud-based IoT solutions, the system must comprehend the command, send a request to a cloud server for processing, and then wait for the response before presenting it graphically. However, with fog computing, the IoT data streams are partially stored and processed locally, allowing companies to get faster responses and reduce network traffic. Furthermore, the advent of 5G will provide new levels of performance and efficiency that will allow enhanced user experiences.
The increasing adoption of cloud computing platforms is also expected to fuel the fog computing market size. Fog computing allows computing, decision-making, and action-taking to happen via IoT devices and only pushes relevant data to the cloud. The fog extends the cloud to be closer to the things that produce and act on IoT data.
Security and privacy issues continue to stymie the growth of the fog computing market. Because there are so many devices connected to fog nodes and at various gateways, fog computing security issues arise. But during Large scale DOS attacks fog computing nodes protect the cloud computing nodes from being overwhelmed by large traffic thus keeping the attack localized at the fog computing nodes.
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Based on the region, North America is expected to provide enormous opportunities for fog computing technology. The high adoption of IoT and growing investment in ongoing research on the development of fog architecture are two key factors driving regional growth.
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