The Latin America, Middle East and Africa Fog Networking Market would witness market growth of 42.7% CAGR during the forecast period (2023-2030).
A decentralized computing structure between the cloud and data-producing devices is called fog networking, sometimes known as fog computing or fogging. Users may arrange resources, such as apps and the data they generate, in logical places to improve efficiency owing to this flexible framework. Fog computing provides scalable and affordable solutions by dispersing processing and storage resources across edge devices. Additionally, it aids in removing the need for expensive, centralized infrastructure, allowing scaling depending on demand and lowering infrastructure costs.
A key force behind the growth of fog computing is the proliferation of IoT devices. Fog computing offers a decentralized architecture that allows data processing and analysis at the edge, closer to wherever the data is created, as a result of the billions of linked devices producing enormous volumes of data. As a result, latency decreases, efficiency increases, and real-time decision-making improves. Fog networks are now scalable and durable because of edge computing architecture developments, including edge servers and compact data centers. Because they made it possible to create cutting-edge solutions for various sectors, including healthcare, transportation, manufacturing, and smart cities, these developments have spurred the expansion of the market.
The Dubai Electricity and Water Authority (DEWA) is actively helping to make Dubai the world's smartest city. DEWA created a thorough plan to construct smart water and energy infrastructure to support this goal. It is referred as "Smart Grid," which offers sophisticated capabilities like automated decision-making and interoperability throughout the power and water network. Dubai will become the world's smartest and happiest city owing to DEWA's Smart Grid Programme, which has received investments totaling AED 7 billion.
A significant element of a smart city, the DEWA created its first Smart Grid plan up to 2035 in 2014. DEWA effectively accomplished the short-term objectives of the Smart Grid Strategy 2014-2035. By shifting from a technology-led to a value-driven strategy and consolidating DEWA's 10 smart grid programs into 6 themes, each including 19 industry-leading smart grid capabilities, DEWA unveiled its revised Smart Grid Strategy up to 2035 in 2021. Therefore, the government's ambitions for smart cities and their vision would encourage the development of the smart grid and the market.
The Brazil market dominated the LAMEA Fog Networking Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $47,581.2 Thousands by 2030. The Argentina market is showcasing a CAGR of 43.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 42.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
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