Smart Meter Sector is Expected to Dominate the Global Fog Networking Market
Data Privacy and Security and Cost Reduction are
a major factor attributable to the growth of the market.
According to TechSci
Research report, “Global Fog Networking Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”. The Global Fog
Networking is anticipated to project robust growth in the forecast period with
a CAGR of 49.73% through 2028, Fog
networking enlarges the technology of cloud computing to the network edge, and
thus makes it ideal for IoT, 5G, AI, and many more technologies that require
real-time analysis of data, at a faster pace. For instance, Citi Bank uses
beacon technology to understand ATM users' purchasing behavior and provides
incentives to customers to use Citi cards in local areas for transactions. Fog nodes are deployed
close to end devices, and they act as smart processors that have the capability
to analyze real-time data and give instant results. Devices, ranging from
personal wearables and home appliances to industrial sensors, generate a vast
amount of data that needs to be processed, in order to gain insights. Fog
networking not only provides real-time analysis with low latency, but also
addresses security concerns that prevail in cloud computing.
Browse
over xx market data Figures spread through 188 Pages and an in-depth TOC on " Global Fog Networking Market"
Based on End-user
Application, Smart
Meter Segment to Dominate the market during the forecast period. A smart meter
is an electronic device that records the consumption of electrical energy units
and communicates it to the power company from which the power is supplied. Many
power companies across the world are planning to adopt smart meters to remotely
monitor consumers' energy consumptions and to prevent fraudulent energy
consumption. Moreover, smart energy and metering solutions are becoming more
prevalent in both businesses and households.The data collected by smart meters
is sufficient to draw inferences, such as the behavior, sleeping cycle, home
occupancy, eating routines, etc. of the consumers. However, for it to make
sense, the data needs to be analyzed in real-time.
The data collected per
household can be used by various organizations. For instance, an electric or
power company can sell its products or services based on energy units consumed.
As smart meters produce a tremendous amount of data, which is hard to process
and analyze, even with cloud computing, there is a need for fog computing,
which offers a place for collecting, computing, and storing smart meter data
before transmitting it to the cloud.
Based on Region, North
America to be the Fastest Growing Market. The North American region occupies
the largest share in the market, as most fog networking enterprises are based
out of North America. Moreover, most cloud computing providers working in this
region have already started offering fog networking hardware and software
solutions, to stay up to date with the technology. The OpenFog
Consortium, which is a consortium of high tech companies and academic
institutions across the world, aiming at the standardization and promotion of
fog computing in various capacities and fields, including companies like Cisco,
Dell, Intel, and Microsoft, is also headquartered in the United States. More
companies are joining this consortium, to gain insights about fog computing. The
North American region is also the leader in IoT and 5G technology, which
generates a huge amount of data to be processed in real time. With the
emergence of connected cars in the region, the market is expected to witness
huge growth, as the cars will need to communicate with not only each other but
also traffic lights, where traffic lights will act as fog nodes. Moreover,
these cars will require real-time analysis of data to function accurately.
Key
market players in the Global Fog Networking Market are following:-
- Amazon Web Services,
Inc.
- Cisco Systems, Inc.
- Dell Inc.
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Nebbiolo Technologies
- Nokia Corporation
- Qualcomm Corporation
- Tata Consultancy
Services Limited
Download Free Sample Report
Customers can also request for 10% free customization
on this report.
“The global fog
networking market is driven by several key factors. First, the proliferation of
the Internet of Things (IoT) and the massive amount of data generated by IoT
devices require real-time processing, which fog computing provides by bringing
computation closer to the data source. Second, the need for low-latency
communication is critical in applications like autonomous vehicles, augmented
reality, and industrial automation. Fog computing reduces latency by processing
data at the edge, enhancing user experiences and safety. Third, fog computing
improves bandwidth efficiency by reducing the strain on network resources,
making it valuable in scenarios with limited or costly bandwidth. Fourth, data
privacy and security concerns drive adoption, as fog computing allows
organizations to keep sensitive data locally, addressing regulatory
requirements. Fifth, scalability and adaptability make fog networking suitable
for various industries and applications. Finally, the integration of artificial
intelligence, machine learning, and edge AI further fuels its adoption,
enabling real-time analytics and intelligent decision-making. These drivers
collectively position fog networking as a pivotal technology in the evolving
landscape of edge computing and IoT.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
Fog Networking Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast Segmented by Component (Hardware,
Software, Service), Application (Smart Meter, Building and Home Automation,
Smart Manufacturing), By Region, Competition 2018-2028 has evaluated the future growth potential
of Global Fog Networking Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Fog Networking Market.
Contact
Mr. Ken
Mathews
708 Third
Avenue,
Manhattan, NY,
New York –
10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com