From Clouds to Fog: Fog Computing Market Set to Soar Past USD 274.52 Billion by 2030
The global Fog Computing market size is expected to reach USD 4314..38 million by 2030 and exhibit a CAGR of 6.6% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing demand for real-time data processing and low latency applications, growth of Internet of Things (IoT) devices and connected systems, need for distributed computing and edge intelligence, rising adoption of cloud computing and data-intensive applications, 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 market's growth.
Westford, USA, June 25, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research on Fog Computing Market, adoption 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-to-cloud orchestration 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 aid in the market's growth.
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Pages - 242
Tables - 66
Figures - 74
Fog computing is a distributed computing paradigm that brings computation and storage closer to the edge of the network. This can improve latency and bandwidth utilization for applications that require real-time processing of data. It is also a complement to cloud computing, and the two technologies can work together to provide a more comprehensive and efficient computing platform.
Prominent Players in Fog Computing Market
Amazon Web Services (AWS)
Software Component Demand to Grow Substantially in the Forecast Period
Software components dominate the global market as it plays a crucial role in enabling the management, orchestration, and deployment of fog computing infrastructure and services. Software components for fog computing allow organizations to optimize data processing, enable real-time analytics, and manage edge devices efficiently. These software solutions provide a layer of intelligence and control over the distributed fog computing architecture, ensuring seamless communication, data management, and application deployment across the network.
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Smart Manufacturing is the Leading Application Segment
In terms of application, smart manufacturing is the leading segment due to the real time data processing. In addition, it allows manufacturers to harness the power of edge intelligence, enabling them to improve operational efficiency, reduce downtime, and enhance productivity.
North America is the leading Market Due to the Presence of Major Players
Region-wise, North America is one of the largest growing markets with a huge market of players. The research institutions, and a robust ecosystem of cloud and edge computing providers has contributed to the dominance of North America in the fog computing market. Additionally, the region's focus on innovation, strong investment in research and development, and the presence of a supportive regulatory environment have played a significant role in its market leadership.
A recent report thoroughly analyses the major players operating within the Fog Computing market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Fog Computing.
Key Developments in Fog Computing Market
In January 2023, Intel acquired FogHorn Systems, a leading provider of fog computing software. This acquisition will help Intel to expand its fog computing offerings and provide businesses with a more comprehensive suite of solutions.
In February 2023, Cisco acquired FogCore Networks, a provider of fog computing solutions for the industrial sector. This acquisition will help Cisco to expand its fog computing offerings for the industrial sector and meet the growing demand for fog computing in this market.
In March 2023, Dell Technologies acquired Nimbix, a provider of fog computing solutions for the telecommunications sector. This acquisition will help Dell Technologies to expand its fog computing offerings for the telecommunications sector 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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