Cloud Manufacturing Market Overview:
As per the prediction, the cloud manufacturing market generated a revenue of USD 50.66 billion in 2020 and is expected to reach a market value of USD 207.59 Billion by 2030 growing at a CAGR of 16.11%. North America has accounted for 37.2% of the market share in the cloud manufacturing market in 2020 due to the presence of key market players such as Amazon.com, Inc., Google, Oracle, and SalesForce. The growing adoption of cloud across multiple verticals in the manufacturing industry in the US is driving market growth in the region. Manufacturing industries, including automotive and aerospace & defense, have shown increased demand for cloud-based manufacturing systems, which has positively impacted market growth in the region.
Cloud Computing is one kind of model of service delivery for Information Technology. It allows third-party manufacturers and service providers to offer several IT-related resources and software-related tools over the web. The model is such that any user needs to make the payment only for computing devices, amount of storage, and consumed bandwidth level. There are various advantages of Cloud computing related to the deployment, cost involved, mobility support functions, various disaster recovery preparedness, and methods. It also helps in reducing the burden on the employees of the organization as well.
Cloud Manufacturing Market Covid-19 Impact:
With the WFH norms implemented in order to safeguard employee health and other necessary concerns, there is a huge increment in the demand for association with Software-as-a-service (SaaS). In the Microsoft platform itself, the number of users has grown to almost 44 million across the world because of the need for such collaborative stable solutions. Only the solutions related to video conferencing have seen an increase of over 300% based on the data gathered across 150 nations. There are several other tools such as hangouts, Webex, Zoom, WeChat Work, and so on.
In a recent development, with Google’s collaboration with Telefonica, it’s evident that they are trying to build a cloud base riding on the infrastructure base of Telefonica in Madrid and its surrounding areas. Additionally, from the economic perspective also, this will be hugely helpful with the promotion of digitalization in business prospects.
On top of this, Microsoft has already announced several industry-relevant cloud solutions for the healthcare industry. This involved data analytics for data-be it structured or unstructured in format.
There are various reasons for the boom in the rate of hybrid cloud solutions:
Primarily, the trend is being observed across the industries such as BFSI, Public sector organizations and units, and the healthcare industry.
All the big names in the IT industry are vying for cloud-based solutions. In the recent past, IBM has gained a larger customer base by acquiring Red Hat. In fact, SMEs are not far behind because of the ease of running operation and business and enormous flexibility level. Moreover, this model is also allowing them to reduce the overall cost because of the pay-as-you-go model.
Market drivers & Restraints:
The two primary factors which are working in favor of the market for cloud computing are the current trend related to BYOD and various offers/ advantages on local computing solutions.
However, there are few restraints that can impact the overall boost garnered by the Cloud computing solutions:
Cloud Manufacturing Market Segmentation:
The overall Cloud Computing Market is segmented in various parts on the basis of different service models, Size of organizations and region.
On the basis of Service Model:
Two basic segments of the market are (SaaS) Software-as-a-Service and (IaaS) Infrastructure as a Service. Apart from these two, there is (PaaS) Platform-as-a-Service. The important thing to note here is that SaaS secured a maximum market share in recent times with better prospects of growth in the upcoming years as well.
There are three basic segments that can be observed: Private & hybrid cloud, with public cloud securing the biggest market share in 2018 and expected to clock a higher CAGR in the forecast period.
On the basis of the Size of the organizations:
The segment is made basis on the small scale, medium scale, and Big organizations. As per the predictions, large-scale enterprises would secure a major share of the market, almost a CAGR of 19% for the forecasted period.
On the basis of Verticals:
The primary market is diversified with BFSI, Information Technology, Public Sector, Retail, Energy & Utilities, Media & Entertainment, Health Care, Life Science, and so on.
Cloud Manufacturing Market Regional Analysis:
In the year 2020, the market was primarily dominated by the North American region due to the presence of prominent vendors such as Microsoft, Oracle, IBM, and Amazon. The catalyst behind this being the urge of the US organizations to be flexible and adaptive to next-gen technologies and the global digitalization prospects. Be it Big Data Analytics, Artificial Intelligence, Machine Learning IoT, or technologies related to telecommunications such as 4G, 5G, or LTE, and US organizations have wholeheartedly welcomed the next generation technological advancements. And the best part is they continue to do so with more vibrance and confidence. This eventually impacts the overall market share equation in the global market.
One important thing to consider here is the fact that the Asia-Pacific region will see a huge boom during the forecast period. The reason being the continual and ever-increasing growth prospect of countries such as China and India. One of the prominent players who came up to post a steep challenge in the global arena is Alibaba group. Additionally, companies like Google and Microsoft vying for their data centers in countries like Thailand and Indonesia will only boost up the market share prospect of the Asia-Pacific region.
Therefore, with a major number of A-listers in the IT industry vying for Cloud Manufacturing options, undoubtedly, the future of growth is going to be rock steady in various aspects.
Cloud Manufacturing Market Key Players:
Amidst the competitive environment over Next-Gen Technological prospects, organizations like Amazon, Microsoft, Cisco, SalesForce, SAP, IBM, Alibaba, Adobe are some of the prominent ones.
Cloud Manufacturing Market Competitive Landscape:
Amidst the top-notch competitive environment, there are few aspects that are going to be very crucial for organizations. Necessary Partnerships, Strategy Mergers alongside Acquisitions are going to be evidently useful to have the required access and proper hold over the market. Variety and uniqueness of products alongside the effectiveness are also going to be decisive factors in obtaining or retaining top slots in the Cloud Computing Market. Last but not the least, with the ever-evolving market arena, the importance and focus on the scope of improvement and improvisations will also play an important role in placing the organizations a notch up or down in the graph!
|Market Size||USD 207.59 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||• by Component (Hardware, Software, and Services) • by Deployment (Private Cloud, Public Cloud, and Hybrid Cloud) • by Organization Size (SMEs and Large Enterprises) • by Vertical (Aerospace and Defense, Healthcare, Semiconductor Electronics, Automotive, Metal & Machinery Manufacturing, and Others)|
|Geographies Covered||• North America (US, Canada, and Mexico) • Europe (UK, Germany, France,and Rest of Europe) • Asia-Pacific (China, Japan, India,and Rest of Asia-Pacific) • Middle East & Africa • South America|
|Key Vendors||• Oracle Corporation (US) • Microsoft Corporation (US) • Salesforce.com (US) • Cisco Systems Inc. (US) • Amazon Web Services, Inc. (AWS) (US) • VMware Inc. (US) • Google LLC (US) • Hewlett Packard Enterprise Company (US) • Citrix System Inc. (US) • Plex Systems Inc. (US) • Jelastic Inc. (US) • Rootstock Software (US) • DXC Technology Company (US)|
|Key Market Opportunities||• Drivers • High Demand for Cloud-Based Solutions Across Manufacturing Companies • Government Initiatives Across Countries to Modernize the Manufacturing Industry • Restraint • High Investment Cost • Opportunity • Increasing Reach of Industry 4.0 In Manufacturing • Challenge • Vulnerability to Cyberattacks • Impact of COVID-19 • Impact on Global Manufacturing Sector • Impact on Manufacturing Workflow|
|Key Market Drivers||The availability of high-tech encryption solutions can prompt the cloud manufacturing market expansion.|
16.11% CAGR is expected to transform the market.
The North America regional market is projected to be the major driver of the market.
The segments in the market are offering Component, Deployment, Organization Size, Vertical.
The key contenders in the market are Microsoft Corporation, Amazon.com, Hewlett Packard Enterprise Co, Google LLC, Oracle Corporation, Cisco Systems Inc., VMware Inc., DXC Technology Co., Salesforce.com Inc., Citrix Systems Inc.