Fog Computing Market: Key Insights
The fog computing market is flourishing, driven by
the surge in Internet of Things (IoT) devices and the need for efficient
data processing at the network's edge. Here's a summary of the current market
landscape:
Market Size:
The global
fog computing market is expected to generate a revenue of more than 343.48
million US dollars by the year 2030. The global fog computing market might
forecast a CAGR of 55.6% by the year 2030.
Market Drivers:
Rising demand for low-latency applications: Fog
computing enables real-time decision making crucial for areas like autonomous
vehicles and industrial automation.
Growing concerns over data security: Local
processing and storage address security risks associated with sending sensitive
data to the cloud.
Need for improved system response times: Fog
computing reduces latency by processing data closer to the source.
Industry Applications:
Smart manufacturing: Optimizes
production processes and enables predictive maintenance.
Energy management: Facilitates
real-time monitoring and control of energy usage.
Transportation & logistics: Enhances
fleet management and optimizes delivery routes.
Healthcare: Enables remote patient monitoring
and facilitates real-time medical data analysis.
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Key Players:
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)
Additional Points:
The increasing adoption of cloud-based solutions is
making fog computing more accessible to businesses.
Government initiatives supporting research and
development in fog computing are further propelling market growth.
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