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The demand for industry specific solutions is increasing from cloud service providers owing to surge in investment to digital transformation. Hence, major cloud providers including Salesforce, Microsoft Corporation, IBM Corporation and Amazon Web Services (AWS) are focusing on expansion of their product portfolio as per industries need. For example, in December 2020, Microsoft Corporation and SAP SE collaborated to offer SAP supply chain solutions using Microsoft Cloud for manufacturing industry.
The market growth is driven by the growing adoption of industry 4.0 across the manufacturing industry. The industrial cloud enables to automate the manufacturing process through internet of things (IoT). As per the Action Plan for Innovative Development of the Industrial Internet (2021-2023), the number of industrial companies and tools that leverage the cloud in 2023 will double than in 2020. Thus, industrial manufacturing organizations are collaborating with cloud providers to improve applications of industrial cloud platforms. Cloud enables collaboration across various manufacturing plants in different regions, which drives the adoption of industrial cloud.
The industrial cloud is developed to offer a portfolio of Industrial IoT (IIoT) solutions and insights to improve manufacturing and automotive industries. Further, it helps to empower the supply chain community to foster efficiency gains and transform operations. The increasing investment in digitalization by the manufacturing industry across countries including India, China, U.S., Germany and others are anticipated to drive the market towards a higher growth trajectory. For instance,
The COVID-19 pandemic accelerated the pace of digital transformation across industries including, manufacturing, oil and gas, healthcare and life science, mining and metal, paper and pulp, energy and utilities and others. Manufacturing companies surged the adoption of industry 4.0, which is expected to drive the market post COVID-19. Industrial Cloud enables transmission of data collected through sensors of industrial internet of things (IIoT) to the applications, which are used by operators on mobile or computer. In the post-COVID-19 era, the operational efficiency offered by cloud is expected to stimulate the growth of industrial cloud. For instance,
The report will cover the following key insights:
By component, the industrial cloud market for manufacturing execution system (MES) is anticipated to grow with a highest CAGR due to increasing adoption of industry cloud platforms to deliver high performance, save costs, and facilitate operations across the supply chain. Cloud MES solutions enable to access operational data in real time. The cloud platform connects different plants and departments and helps organization to monitor ERP, MES, and supply chains to build integrated strategies from the data they have gathered.
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APAC is anticipated to grow with a maximum growth rate followed by Europe during the projection period. The increasing investment to build cloud infrastructure and digital initiatives introduced by the government of countries including Japan, China, India, Southeast Asia, South Korea, and others accelerate the adoption of industrial cloud across the manufacturing, construction, and oil & gas sectors. For instance,
The report will include the profiles of key players such as Siemens AG, Schneider Electric SE, Honeywell International Inc., Rockwell Automation, Inc., General Electric Company, Telit, Microsoft Corporation, PTC, Hitachi Data Systems Corporation, Advantech Co., Ltd., and IBM Corporation and others.
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