The Internet of Things (IoT) has facilitated extensive connectivity between widespread devices, leading to the development of large and diverse amounts of data, commonly referred to as data explosions. Cloud computing (CC) effectively handles the processing and storage of data, but it still faces issues including meeting real-time application requirements and dealing with limited network capacity. By extending cloud services to the network’s perimeter, fog computing (FC) introduces a novel concept. It results in improved mobility, security, and latency when computing, communication, and storage are set up in closer proximity to end-users. The present article presents the sequential paradigm of fog computing as an efficient alternative way to the computing paradigms of the cloud and perimeter. A thorough assessment of fundamental technologies ranging from computers, communication, and archiving is contained in this work. In addition, the paper proposes tangible examples that demonstrate the pragmatic application of these technologies underneath the industry arenas of automotive fog computing, augmented reality, and healthcare. By examining the intricacies of security and privacy, this work extends important conclusions that should inform future investigations pertaining to the on-going development of fog computing.