Product ID: SQMIG45F2040
Report ID:
SQMIG45F2040 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
66 |
Figures:
74
In 2021, the fog computing market was dominated by North America. High IoT usage and rising investments in ongoing research on the creation of fog architecture are two important elements influencing the growth of the region. For instance, in the United States, a project has been started that makes it possible for traffic lights to work with linked cars to cut down on travel time. Furthermore, it is anticipated that the early adoption of the technology will result from the presence of multiple players in the area.
In 2021, the Asia Pacific region contributed more than 15% of total income. The sector is expanding as a result of the necessity to take advantage of hybrid IT infrastructures' ability to provide flexibility and agility. Furthermore, the region has seen significant expansion in the use of cloud services in major economies like China, Japan, and Australia, opening up opportunities for the deployment of fog networks. The Make in India initiative of the Indian government is also anticipated to increase the expansion of smart manufacturing, which will increase demand for streaming data to and from the cloud. As a result of an agreement between the Open Fog Consortium and the IoT Acceleration Consortium (ITAC) to work together and test new standards and advancements, the technology is becoming more popular in Japan. Additionally, the country's increasing use of connected cars is anticipated to enhance the demand for effective data management and communication platforms.
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REQUEST FREE CUSTOMIZATIONFog Computing Market size was valued at USD 85.5 million in 2019 and is poised to grow from USD 126.66 million in 2023 to USD 4314.38 million by 2031, growing at a CAGR of 48% in the forecast period (2024-2031).
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Product ID: SQMIG45F2040