Global Fog Computing Market Size study & Forecast, by Component (Hardware, Software) by Application (Building Home Automation, Smart Energy, Smart Manufacturing, Transportation Logistics, Connected Health, Security Emergencies, Retail, Others) and Regiona

Global Fog Computing Market Size study & Forecast, by Component (Hardware, Software) by Application (Building Home Automation, Smart Energy, Smart Manufacturing, Transportation Logistics, Connected Health, Security Emergencies, Retail, Others) and Regional Analysis, 2023-2030

Global Fog Computing Market is valued at approximately USD xxx billion in 2022 and is anticipated to grow with a healthy growth rate of more than 55.5% over the forecast period 2023-2030. Fog Computing refers to the edge computing technologies that enable data processing and storage closer to the source, improving efficiency and reducing latency in distributed computing environments. The Fog Computing Market is expanding because of factors such as increasing demand for connected devices and increasing adoption of cloud applications. Moreover, the Fog computing paradigm is largely influenced by a continuous increase in Internet of Things devices, where an ever-increasing amount of data is generated from an ever-expanding array of devices.

According to the Statista, the number of Internet of Things devices worldwide is expected to nearly triple from USD 9.7 billion in 2020 to over USD 29 billion by 2030. By 2030, China is projected to have the largest number of IoT devices, with around 5 billion devices used by consumers. The rise of cloud computing has led to an increase in cloud applications. This has led to an increase in the amount of data that needs to be processed. According to Statista, in 2021, the global cloud applications market had a value of USD 133.6 billion and expected to reach USD 168.6 billion by 2025. The cloud applications software market is anticipated to grow at a compound annual growth rate of 4.8%. In addition, an increase in R&D investments from governments to develop the cloud computing platform and growing communication technology would create lucrative growth opportunities. However, the Lack of uniform governance standards and lack of awareness about fog computing technology skills stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Fog Computing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market during the forecast period owing to the factors such as the increasing investments in the development of concepts integrated with advanced technologies such as AI and IoT contribute to the growth of the regional market. Asia Pacific is the fastest growing region during the forecast period, owing to factors such as extensive adoption of cloud platforms among businesses to improve efficiency and increasing government focus on the smart city and smart building.

Major market player included in this report are:
Cisco Systems, Inc.
Microsoft Corporation
Arm Limited
Dell Technologies, Inc.
Fujitsu Ltd.
General Electric Company
Nebbiolo Technologies, Inc.
Schneider Electric
Toshiba Corporation
Foghorn Systems Private Limited.

Recent Developments in the Market:
In November 2022, Fog Works, and Web3 device and application company, had introduced its flagship product, Foggie. It is the world's pioneering all-in-one Web3 virtual appliance, offering a comprehensive range of Web3 capabilities to deliver tangible benefits for developers and consumers. Foggie serves as a crucial on-ramp to Web3 for users accustomed to Web2 applications.

Global Fog Computing Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Component, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Component:
Hardware
Software

By Application:
Building Home Automation
Smart Energy
Smart Manufacturing
Transportation Logistics
Connected Health
Security Emergencies
Retail
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies
Cisco Systems, Inc.
Microsoft Corporation
Arm Limited
Dell Technologies, Inc.
Fujitsu Ltd.
General Electric Company
Nebbiolo Technologies, Inc.
Schneider Electric
Toshiba Corporation
Foghorn Systems Private Limited.

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