Industrial Cloud Market to be Dominated by Rapid Adoption of Cloud-Based Services Through 2028
The global industrial cloud market is expected to grow due to
the increasing popularity of industrial cloud in the automotive industry in the
forecast period 2024-2028.
According to
TechSci Research report, “Industrial Cloud Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028,” the global industrial cloud
market is expanding due to advancement in technology and the increased internet
usage. Industrial Cloud has been demonstrated to considerably increase the
productivity and quality of services done by industrial robots. The increasing
demand for effective strategy digital solutions employing industrial cloud
technologies in recent years is also anticipated to accelerate market expansion
in the coming years.
Moreover, the cost of owning
a system that improves manufacturing efficiency is reduced and deployment is
made simpler with cloud MES (Manufacturing Execution System). It assists
smaller businesses in achieving operational benefits and efficiencies that, in
the past, were only available to large businesses with the financial resources
to make sizable expenditures. For instance, as part of its competitive strategy
to enhance operations and pursue new markets, the small, private companies have
orchestrated sophisticated production technology. In approximately five months,
a cloud-based enterprise system is implemented. The cloud-based system performs
a number of tasks, such as supply chain management, production execution
systems, order entry and tracking, and product lifecycle management. This
deployment of MES is driving the growth in the Global industrial Cloud Market.
Moreover, emerging technologies
like the edge, IIoT, AI, and ML are driving the future of industrial
automation. It is necessary to simulate these solutions' effects prior to
implementation in order to successfully incorporate them into current
industrial automation systems. Before starting to redesign legacy industrial
automation systems, cloud computing technologies and the digital twin offer a
user-friendly environment for testing, analytics, and simulations.
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Figures spread through XX Pages and an in-depth TOC on the "Global Industrial Cloud Market"
The Global Industrial Cloud
Market is segmented on the basis of component, type, cloud, application, end
user, competitive landscape and region. On the basis of component, the market
is segmented into Solution, and Service. Based on the Type, the market is further
segmented into IaaS, PaaS, SaaS. Based on Cloud Type, the market is divided
into Public Cloud, Private Cloud, Hybrid Cloud. On the basis of Application,
the market is further split into Supervisory Control and Data Acquisition
(SCADA), Distributed Control System (DCS), Manufacturing Execution System
(MES), Human Machine Interface (HMI), Product Lifecycle Management (PLM),
Others. On the bases of end user the market divided into Oil and Gas, Electric
Power Generation, Chemicals, Water and Wastewater Management, Food and
Beverages, Mining and Metal, Paper and Pulp, Pharmaceutical and Others.
Based on component the solution
segment dominated the Global Industrial Cloud Market in 2022 and is expected to
maintain its dominance during the forecast period since professional services
for integrating and deploying cloud solutions are becoming increasingly
popular. Due to the use of solutions by various industries for effective work
processes, the solution category, which accounted for almost two-thirds of the
worldwide industrial cloud market in 2022, had the highest share.
The SaaS segment, which made
up about two-fifths of the global industrial cloud market in terms of revenue
in 2022, dominated the market by type. The cloud enables quick access to and
simple software implementation for industries. However, because there is a
common platform for software development projects, the PaaS segment is
anticipated to exhibit the highest CAGR during the forecast period.
As industrial cloud aids
in the optimization of company business operations and IT processes, the
Manufacturing Execution System (MES) application segment held the biggest share
by application in 2022, accounting for over one-third of the global industrial
cloud market. However, due to the fact that it offers an affordable and
effective asset management solution, the Product
Lifecycle Management segment is anticipated to see the highest CAGR
during the forecast period.
Key market players in the global
industrial cloud market include:
- Siemens AG
- Schneider Electric SE
- Honeywell International Inc.
- Rockwell Automation, Inc.
- General Electric Company
- Telit IOT Solutions, Inc.
- Microsoft Corporation
- PTC Inc.
- Hitachi Data Systems
Corporation
- Advantech Co., Ltd.
- IBM Corporation
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“Due to the expansion of the
digital infrastructure and the presence of major players, North America held dominating
share in the global industrial cloud market in 2022, accounting for more than
two-fifths of the market. However, due to increased expenditures in cloud
technologies and an increase in the number of SMEs in the area, the market in
Asia-Pacific is anticipated to see the greatest CAGR during the forecast
period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Industrial Cloud Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented, By Component
(Solution, Service), By Type (IaaS, PaaS, SaaS), By Cloud Type (Public Cloud,
Private Cloud, Hybrid Cloud), By Application (Supervisory Control and Data
Acquisition (SCADA), Distributed Control System (DCS), Manufacturing Execution
System (MES), Human Machine Interface (HMI), Product Lifecycle Management
(PLM), Others), By End User (Oil and Gas, Electric Power Generation, Chemicals,
Water and Wastewater Management, Food and Beverages, Mining and Metal, Paper
and Pulp, Pharmaceutical and Others), By
Region, Competition Forecast
& Opportunities, 2028F,” has
evaluated the future growth potential of Global Industrial Cloud Market and provides statistics and information on market structure,
size, share, and future growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the Global Industrial Cloud Market.
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