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Global Fog Computing Market Report 2023: Increasing Demand for Real-time Analytics Drives Growth - ResearchAndMarkets.com

The "Global Fog Computing Market Size, Share, Growth Analysis, By Type, By Application - Industry Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global fog computing market size was valued at USD 85.5 million in 2021 and is poised to grow from USD 126.66 million in 2022 to USD 4314.38 million by 2030, growing at a CAGR of 48% in the forecast period (2023-2030).

Companies Mentioned

  • Microsoft (US)
  • IBM Corporation (U.S.)
  • Cisco Systems Inc (U.S.)
  • AT&T Intellectual Property (U.S)
  • Hitachi Ltd. (Japan)
  • Verizon Communications Inc. (U.S.)
  • PTC Inc. (U.S.)
  • SAP SE (Germany)
  • Rockwell Automation Inc. (U.S.)
  • Schneider Electric SE (France)
  • Infosys Limited (India)
  • Oracle (US)
  • Dell Inc. (U.S.)
  • Toshiba Corporation (Japan)
  • PrismTech Corporation (U.S.)
  • Intel Corporation (U.S.)
  • ARM Ltd. (U.K.)
  • Fujitsu (Japan)
  • LLC (Japan)
  • Nebbiolo Technologies (U.S.)

Fog computing is a decentralized computing architecture that extends the capabilities of cloud computing to the edge of the network. It enables the processing of data closer to the source, reducing latency, increasing efficiency, and improving the user experience.

The global fog computing market is expected to grow significantly due to the increasing demand for real-time analytics, the proliferation of Internet of Things (IoT) devices, and the need for low-latency and high-bandwidth applications.

The global fog computing market is segmented on the basis of type, application, and region. Based on type, the market is segmented into hardware and software. Based on application, the market is segmented into connected vehicles, building & home automation, smart energy, smart manufacturing, connected health, securities & emergencies, and others. Based on region, the global fog computing market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The global fog computing market is expected to grow due to various drivers, such as the increasing demand for real-time analytics. Fog computing enables real-time data processing, which is critical for applications that require real-time decision-making, such as autonomous vehicles and smart cities.

The proliferation of IoT devices is also driving the market growth, as these devices generate a massive amount of data that needs to be processed and analyzed in real-time. The need for low-latency and high-bandwidth applications, such as augmented reality and virtual reality, is also driving the market growth.

Restraint

The lack of standardization and interoperability is a major restraint for the growth of the global fog computing market. The complexity of deploying and managing fog computing systems is also a challenge, which has limited their adoption in some industries.

Market Trends

Hybrid cloud-fog computing is becoming increasingly popular, as it enables organizations to use both cloud computing and fog computing to optimize their workload distribution. This approach allows organizations to benefit from the scalability and cost-effectiveness of cloud computing while taking advantage of the low-latency and high-bandwidth capabilities of fog computing.

Fog computing is being combined with artificial intelligence (AI) and machine learning (ML) to enable real-time decision-making at the edge of the network. This convergence is allowing organizations to take advantage of the vast amounts of data generated by IoT devices to optimize their operations and improve their customer experience.

For more information about this report visit https://www.researchandmarkets.com/r/s7wwkd

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