The global Fog Computing market size is projected to reach USD 4314.38 million by 2030 and show a CAGR of 6.6% over the forecast period (2023-2030), according to the latest research report from Skyquest. The growing demand for real-time data processing and low-latency applications, the growth of Internet of Things (IoT) devices and connected systems, the need for distributed computing and edge intelligence, the growing adoption of cloud computing and Intensive use of data, improved network efficiency and bandwidth optimization, enhanced security and privacy for sensitive data, cost-effective and scalable computing infrastructure, advancements in edge computing technologies, are fueling the growth of the market.
Westford, USA, June 25, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research on Fog Computing Marketadoption of 5G technology and its synergy with fog computing, integration of artificial intelligence (AI) and machine learning (ML) capabilities, edge analytics for real-time data processing and decision making, emergence of fog orchestration -to-cloud and hybrid cloud architectures, convergence of fog computing with blockchain technology, growth of edge devices and sensors in IoT ecosystems, edge-native applications and services, focus on edge security and privacy, are the trends that help market growth.
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Browse an in-depth summary on the “Fog Computing Market”
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Pages – 242
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Tables – 66
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Figures – 74
Fog computing is a distributed computing paradigm that brings computing and storage closer to the edge of the network. This can improve latency and bandwidth utilization for applications that require real-time data processing. It is also a complement to cloud computing and the two technologies can work together to provide a more comprehensive and efficient computing platform.
Leading players in the fog calculation market
The demand for software components will grow significantly over the forecast period
Software components dominate the global market as they play a crucial role in enabling the management, orchestration and deployment of fog computing infrastructure and services. Fog computing software components enable organizations to streamline data processing, enable real-time analytics, and manage edge devices efficiently. These software solutions provide a level of intelligence and control over the distributed fog computing architecture, ensuring seamless communications, data management and application delivery across the network.
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Smart manufacturing is the main application segment
In terms of application, intelligent manufacturing is the leading segment thanks to real-time data processing. It also enables manufacturers to harness the power of edge intelligence, enabling them to improve operational efficiency, reduce downtime, and improve productivity.
North America is the main market thanks to the presence of important players
As far as the region is concerned, North America is one of the biggest growth markets with a huge market of players. Research institutes and a robust ecosystem of cloud and edge computing vendors have contributed to North America’s dominance of the fog computing market. Furthermore, the region’s focus on innovation, heavy investment in R&D and the presence of a conducive regulatory environment have played a significant role in its market leadership.
A recent report thoroughly analyzes the key players operating in the Fog Computing market. This comprehensive assessment considered several crucial factors, such as partnerships, mergers, innovative business strategies and policies, providing valuable insights into key market trends and findings. Furthermore, the report carefully examined the market share of the main segments and presented a detailed geographical analysis. Finally, the report highlighted key players in the industry and their continued efforts to develop innovative solutions that meet the ever-growing demand for Fog Computing.
Main developments in the Fog Computing market
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In January 2023, Intel acquired FogHorn Systems, a leading provider of fog computing software. This acquisition will help Intel expand its fog computing offerings and provide enterprises with a more complete suite of solutions.
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In February 2023, Cisco acquired FogCore Networks, a provider of fog computing solutions for the industrial sector. This acquisition will help Cisco expand its fog computing offering to the industrial sector and meet the growing demand for fog computing in this market.
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In March 2023, Dell Technologies acquired Nimbix, a provider of fog computing solutions to the telecommunications industry. This acquisition will enable Dell Technologies to expand its fog computing offering to the telecommunications industry and meet the growing demand for fog computing in this market.
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Key questions answered in Fog Computing market report
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What specific growth drivers are expected to impact the market during the forecast period?
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Can you list the best companies in the market and explain how they achieved their positions of influence?
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How do regional trends and patterns differ within the global market, and how might these differences affect future market growth?
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