The Europe Fog Networking Market would witness market growth of 38.1% CAGR during the forecast period (2023-2030).
Fog networking extends cloud computing technology to the network edge, making it suitable for IoT, 5G, AI, and many other technologies needing faster real-time data processing. Near-end devices, fog nodes serve as intelligent processors that can evaluate real-time data and provide immediate results.
A tremendous volume of data generated by devices, such as industrial sensors, personal wearables, and home appliances, must be analyzed to get insights. Fog networking solves security issues prevalent in cloud computing and offers real-time analysis with minimal latency. Applications that demand low latency, such as traffic management, linked healthcare, and connected automobiles, may benefit from fog networking. For instance, if the latency is too high, smart traffic will not function.
It may also assist in resolving the security and privacy issues connected to Industry 4.0 and smart cities. It may reduce the exposure of sensitive information to possible cyberattacks and data breaches by processing data locally at the network's edge. This is especially crucial in industries that depend on essential infrastructure, including energy, transportation, and healthcare, where security breaches may have disastrous results. By allowing data processing and archiving inside the country where the data is created, fog networking may also assist enterprises in adhering to data protection laws.
The German government is assisting municipalities by supporting the development of integrated smart city policies and their implementation via the 2020 Smart City Model Projects Program, wherein 32 chosen projects are funded with around EUR 350 million. Cross-sectoral initiatives that other German municipalities may implement are the main focus of the financing endeavor. Germany will contribute an extra EUR 500 million to the creation of smart cities. Germany is spending a total of EUR 1,250 billion to support the development and use of urban technology. German and European cities have expanded throughout the ages. Building new cities may take a long time since digital technologies are now being added, and old infrastructures are being improved. Germany's smart city ideas have been developed in several cities. Consequently, communicating with municipalities is crucial. The adoption of fog networking throughout Europe is anticipated to be supported by the growing number of smart city initiatives, leading to a boom in the regional market.
The Germany market dominated the Europe Fog Networking Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $174,584.5 Thousands by 2030. The UK market is exhibiting a CAGR of 36.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 39.1% during (2023 - 2030).
Based on Application, the market is segmented into Smart Manufacturing, Connected Healthcare, Smart Energy, Building & Home Automation, Transportation & Logistics, and Others. Based on Component, the market is segmented into Hardware, Software, and Services. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Fog Networking Market is Projected to reach USD 2.8 Billion by 2030, at a CAGR of 38.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Google LLC (Alphabet Inc.), Microsoft Corporation, Fujitsu Limited, Dell Technologies, Inc., Intel Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.) and Arista Networks, Inc.
By Application
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