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Fog Computing Market Size Projected to Expand at USD 343.48 Million by 2030 with a CAGR of 55.6% – Report by Market Research Future (MRFR)

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New York, US, July 05, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR),” The Fog Computing Market, By Type (Hardware, Software), By Application (Smart Energy, Smart Buildings and Home Automation, Transportation, Healthcare, Smart Manufacturing) – Forecast 2030”. The market is expected to touch USD 343.48 million at a 55.6% CAGR by 2030.

Fog Computing Market Overview

Increasing adoption of fog computing solutions for supporting the development of connected cars will boost market growth over the forecast period. From vehicles to vehicles, vehicles to access points, & access points- access points, connected cars display a diverse variety of interactions and connectivity. Fog computing has a number of characteristics that make it an appropriate platform for offering a variety of smart connected vehicle (SCV) services, including safety, traffic support, heterogeneity, mobility & position awareness, low latency, and real-time interactions. Real-time processing in AI is a virtual reality improvement in which the majority of information recovery & processing is transferred to connected devices such as smart home storage, phones, and the cloud. Fog architecture aids these devices in locating and analyzing data by providing an intelligent location hierarchy.

Fog Computing Market Report Scope:

Report Metrics Details
  Market Size 343.48 Million by 2030
  CAGR 55.6% From 2021 To 2030
  Base Year 2020
  Forecast Period 2021 To 2030
  Historical Data 2019
  Forecast Units Value (USD Billion)
  Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered By Solutions, Application
  Geographies Covered North America, Europe, Asia-Pacific
  Key Vendors 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)
  Key Market Opportunities Data processing, analyzing, transfer, and deploying to devices using the Internet of Things over network easier
  Key Market Drivers Internet of Things is globally considered as the major factor that led to the rise of the fog computing market.

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Opportunities

Growing Use of Cloud Computing Platforms to offer Robust Opportunities

The growing use of cloud computing platforms will offer robust opportunities for the market over the forecast period. Fog computing allows IoT devices to do processing, decision-making, and action-taking while only sending relevant data to the cloud. The fog brings the cloud closer to the devices that generate and process IoT data. It solves cloud computing’s constraints, such as latency and frequency concerns, scalability issues, and resource management.

Restraints

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Lack of Uniform Governance Standards to act as Market Restraint

The lack of uniform governance standards and lack of fog computing technology skills may act as market restraints in the forecast period.

Market Challenges

Privacy & Security Concerns to act as Market Challenge

Privacy and security concerns may act as a market challenge over the forecast period.

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https://www.marketresearchfuture.com/reports/fog-computing-market-2578

COVID-19 Analysis

Following the emergence of the Corona virus, practically every industry around the world has pushed toward digitization and automation, & people have begun working from home, prompting enterprises to relocate their workload to the cloud in order to keep their operations running smoothly. As a result, firms are likely to spend higher on IT infrastructure for customer support services and business applications globally in the post-Covid-19 period in order to operate efficiently. Cloud computing, digitization, artificial intelligence, and machine learning are projected to dominate the technological arena in the future years, and investors are developing long-term investment strategies in this area. 

Fog Computing Market Segmentation

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The global fog computing market is bifurcated based on type and application.

By type, hardware will lead the market over the forecast period.

  • Hardware
  • Software

By application, smart manufacturing will dominate the market over the forecast period.

  • Smart Energy
  • Smart Buildings And Home Automation
  • Transportation
  • Healthcare
  • Smart Manufacturing

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Fog Computing Market Regional Analysis

North America is predicted to domineer the market, accounting for the largest share of the CAGR in the forecast year. Healthcare facilities, smart homes, smart autos, and other applications are driving the fog computing market in North America. In 2017, the Americas market is predicted to have the highest share of the industry. The strong R&D in the fog computing, higher penetration of the Internet of Things, and the creation of a number of IoT and cloud start-ups are the primary driving reasons for growth in the Americas. During the projected period, North America is expected to have the biggest market share in the global fog computing market. This expansion in the region is mostly due to rising spending in the fields of fog computing and IoT penetration and deployment. As a result, an increase in IoT & cloud-based enterprises in the region have fueled market expansion. Fog computing technology is projected to have a huge future in North America. Because of increased investment in fog computing research & development, the existence of significant players, and the increasing adoption of IoT in the region, this region dominates the fog computing market. The market’s enterprises will benefit from the improved network infrastructure in various nations across this area. The regional market will benefit from increased expenditures in the development of concepts using sophisticated technologies like AI and IoT.

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APAC to Have Admirable Growth in Fog Computing Market

Because of their cost-effective nature, Asia-Pacific countries such as China, Japan, Australia, India, and others have seen the highest number of countries transition to cloud computing & cloud platform usage, paving the way for fog computing technologies. Cloud computing, cloud data centres, the government’s growing interest, NGOs, trade allies, private firms, & other organizations have helped the Asia-Pacific region go digital and grow its economy significantly. While the expansion in Asia Pacific is mostly due to businesses’ widespread adoption of the cloud platforms to improve efficiency and the government’s increased focus on smart cities and smart buildings. Because of government support, the expansion of connected cars, and widespread usage of cloud solutions in emerging countries, Asia-Pacific is predicted to have the greatest CAGR during the projection period of 2021-2028.

The sector is growing because of the necessity to take benefit of hybrid IT infrastructures to give flexibility and agility. Furthermore, the region has seen a significant uptake of cloud services in important markets such as China, Japan, & Australia, creating potential opportunities for fog network implementation. Furthermore, the Indian government’s Make in India effort is likely to stimulate smart manufacturing growth, driving up need for streaming the data from cloud to edge. The OpenFog Consortium has formed a partnership with the IoT ITAC to work and test the technology’s standards and improvements. Furthermore, the country’s growing number of connected cars is likely to raise the demand for an effective data handling & communication platform.

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Global Fog Computing Market makes a brief note on factors affecting the business growth and development, market growth, and market analysis for the forecast year. It shares the segments and sub-segments on the fog computing market is determined. It classifies the strategic alliances, different joint ventures, new product developments, mergers and acquisitions, research, and developments that made the market for fog computing across the world. It points to the challenges the fog networking market had to suffer and how the Internet of Things is used to maintain and overcome these setbacks.

Competitive Analysis:

Dominant Key Players on Fog Computing Market Covered are:

  • Microsoft (US)
  • 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)
  • Oracle (US)

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

18 of the Top 20 Medtech Companies Partner with Veeva MedTech to Get Devices and Diagnostics to Patients Faster

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More than 125 medtech customers use Veeva applications for seamless execution across product development
BARCELONA, Spain, Oct. 2, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that 18 of the top 20 medtech companies leverage Veeva Development Cloud and Veeva Commercial Cloud applications to streamline processes across the total medtech product lifecycle. Veeva MedTech enables more than 125 customers with deep industry expertise and technology from ideation to commercialization. With an increasing need to keep up with industry changes for faster time to market, medtech companies are moving to connected applications on a single cloud platform to execute key processes more efficiently.

“With dozens of studies across hundreds of global sites, simplifying clinical operations with unified document management and streamlined workflows is a top priority,” said Matt Christensen, senior vice president at Smith+Nephew. “Using Veeva MedTech’s unified clinical solution drives transparency, ensures integrity of study files, and speeds trial timelines.”
Veeva MedTech enables end-to-end product lifecycle management with Veeva Vault Clinical, Veeva Vault RIM, Veeva Vault Quality, and Veeva Vault Commercial. Using advanced applications built with medtech industry best practices, customers can access real-time insights to make data-driven decisions, automate processes, and maintain inspection readiness. This reduces manual work and improves cross-team collaboration while driving growth, cost efficiency, and compliance.
“This momentum shows that the global medtech industry has made great strides in modernizing systems, establishing a foundation across the product lifecycle to leverage into the future,” said Seth Goldenberg, vice president, Veeva MedTech. “With the top medtech leaders standardizing on Veeva applications, we will continue to learn and advance the industry toward more streamlined processes to deliver innovative new devices and diagnostics to patients in need.”
More than 200 industry professionals will network, share best practices, and hear valuable insights from medtech leaders, including Bio-Rad Laboratories, Philips, and ZEISS Medical Technology, at Veeva MedTech EU Summit. Medtech industry professionals can register for the Nov. 5 – 7 event in Amsterdam.
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended July 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 36 and 37), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
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Cybersecurity is fastest growing IT occupation in the UK, reveals Socura report

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But skills gap persists with just one security professional for every 86 companies
CARDIFF, Wales, Oct. 2, 2024 /PRNewswire/ — Socura, a UK-based cybersecurity services business that protects many of the nation’s biggest NHS trusts, councils, and private companies, has released its UK cybersecurity careers 2024 report, ‘Their next job was in cyber’. 

The report is released four years after the UK government’s infamous ‘Fatima’ ballet ad promoting cyber as a career option. Based on Office of National Statistics data, it reveals that cybersecurity is now the fastest growing tech occupation in the UK, with the number of people in cyber roles more than doubling (128%) between 2021 and 2024. Despite this growth rate, there are not yet enough cybersecurity professionals to tackle the growing threat to UK businesses, with only one security pro for every 86 companies. 
Other key findings of Socura’s report include: 
There are 4,600 more women in cybersecurity roles in 2024 compared to 2021. However, the percentage of women in cybersecurity roles has decreased and now stands at 17%, down from 24%. London is less of a hub for cybersecurity professionals than it is for other IT professionals. 25% of all IT workers are based in London, compared to 17% of cyber workers.Northern Ireland and Wales are the countries in the UK with the fewest cybersecurity professionals. “Cybersecurity may be the fastest growing IT occupation in the UK but the skills shortage in the industry remains a concern,” said Andy Kays, CEO at Socura. “Many businesses simply do not have the specialists they need to defend against cyber attacks.  
“To fix this problem at a national level, we need more initiatives like the NCSC-backed Academic Centres of Excellence and ways to reach even younger people so that they can discover technology in schools. For organisations struggling to recruit cybersecurity experts, finding a trusted managed services partner to bolster capabilities and ease the load remains vital to bridging the gap.” 
“Attracting more workers, particularly women, into cyber remains a key challenge for the industry,” said Dr Kathryn Jones, Head of School, Computer Science and Informatics at Cardiff University. ”However, gender imbalance and the low representation of women is a wider issue in the tech sector, not only cybersecurity. The number of women enrolled on computer science and software engineering courses, for example, is typically also low.  
“Cybersecurity is an exciting and varied career choice but more initiatives like the NCSC’s Cyber First Girls competition are needed to raise awareness.” 
Resources 
Read summary blogDownload full report Methodology Socura’s analysis is based on UK ONS annual population survey data, which tracks occupation figures based on 15 IT-related Standard Occupational Classification (SOC2020) codes such as 2135 cybersecurity professionals. The ONS annual population is a continuous survey that consists of 12 months of survey data, which is broken down and released on a quarterly basis. 
About Socura Socura reduces cyber risk by proactively detecting and responding to threats, 24/7. Our Managed Detection and Response (MDR) service operates as an extension of an organisation’s security team – supplying highly skilled SOC experts and the additional capabilities needed to scale security operations and accelerate response to attacks. 
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Euromonitor International launches Passport AI – a gamechanger for the data analysis industry

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Passport AI will leverage the power of generative AI to transform the way our clients’ access and use market intelligencePassport AI’s impressive features, combining cutting-edge artificial intelligence with human intelligence, will ensure fast and easy access to the Passport platform Paradigm shift solution utilises a powerful combination of technologies and approachesLONDON, Oct. 2, 2024 /PRNewswire/ — Euromonitor International has today launched Passport AI – a game changer for the data analysis industry.

Passport AI is specially designed to supercharge the power of data analytics firm Euromonitor International’s market intelligence expertise. The platform will leverage the power of generative AI to transform the way clients are able to access and use Euromonitor’s market intelligence.
Euromonitor’s Passport AI utilises a powerful combination of technologies and approaches: 
Large Language Models (LLMs): These powerful AI models are trained on massive amounts of text data. Passport AI leverages LLMs to understand your natural language questions and identify relevant information within our extensive content library.Retrieval Augmented Generation (RAG): This approach ensures Passport AI stays grounded in fact-based information. Instead of creating entirely new responses, RAG retrieves and summarises relevant content from trusted Euromonitor publications. This allows clients to verify the source of the information and feel confident in its reliability. Multi-Agent System (MAS): This innovative system acts behind the scenes, working like a team of virtual researchers. MAS helps Passport AI refine your question and identify the most relevant information across our content, even with terminology specific to Passport or newly introduced natural language search. Combining cutting-edge artificial intelligence with human intelligence
Lamine Lahouasnia, Director of Generative AI at Euromonitor International, said: “We are already the first destination for organisations seeking growth and Passport AI’s impressive features, combining cutting-edge artificial intelligence with human intelligence, will ensure fast and easy access to our Passport product and our data analytics.
“Unlike other generative AI tools, the information provided by Passport AI is 100% sourced from Euromonitor’s trusted content. This transparency allows users to interrogate the underlying sources and have complete confidence in the credibility of the answers they receive.”
Tim Kitchin, CEO of Euromonitor International, said: “This significant investment in Passport AI underscores our dedication to client empowerment and demonstrates our commitment to continuous product improvement. We believe Passport AI will help clients derive even more value from the intelligence they already have access to within Passport, make the most of opportunities our insights uncover and achieve greater success.”
For more information about Passport AI book a demo.

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