Cloud manufacturing market size to reach a value of USD 121.72 billion at a CAGR of 15.7% by 2026
Retailers, distributors, wholesalers, 3D printing metal producers, investors and trade specialists, governments, associations, industrial bodies, and so on are proposed viewers in the global cloud manufacturing market. The key players in the worldwide cloud manufacturing market are focusing on solidifying their global strategies by conquering previously untapped markets.
Dominant Key Players on Cloud Manufacturing Market Covered Are:
- Oracle Corporation (US)
- Google LLC (US)
- Microsoft Corporation (US)
- Salesforce.com Inc. (US)
- Rootstock Software (US)
- Cisco Systems Inc. (US)
- Amazon Web Services Inc. (AWS) (US)
- VMware Inc. (US)
- Hewlett Packard Enterprise Company (US)
- Citrix Systems Inc. (US)
- Plex Systems Inc. (US)
- Jelastic Inc. (US)
- DXC Technology Company (US)
Cloud Manufacturing Market Drivers
Increasing Use of IoT in Manufacturing
The global manufacturing industry is increasingly relying on the cloud to manage day-to-day processes ranging from design to production and maintenance. The increasing use of IoT in manufacturing processes has compelled manufacturers to migrate to cloud-based management platforms, such as ERP systems. Large corporations control a sizable portion of the worldwide cloud manufacturing market. Cloud computing, virtualization, and the Internet of things (IoT) have all had a favorable impact on the expansion of the cloud manufacturing market. Cloud-based manufacturing provides various advantages to producers, including higher productivity and lower costs.
According to MRFR analysis, Microsoft Corporation presently holds the largest market share in the worldwide cloud manufacturing industry. Microsoft Corporation provides a variety of cloud-based manufacturing products and solutions, including Azure IoT for Process Manufacturing, Connected Field Services, Connected Factory, Predictive Maintenance, and Azure IoT Edge. Microsoft is committed to developing products and solution suites with expanded functionality in response to industry demands, which promotes customer satisfaction. The company also emphasizes partnering with major manufacturing behemoths such as the BMW Group to launch a cloud-based platform for sharing smart factory solutions across the manufacturing and automotive sectors, as well as expanding its consumer base and maintaining its leadership position in the global cloud manufacturing market.
Segmentation of Market Covered in the Research:
The global cloud manufacturing industry has been segmented based on component, deployment, organization size, and industry vertical.
Based on components, the global cloud manufacturing market has been segmented into hardware, software, and services.
Based on deployment, the global cloud manufacturing market has been segmented into private cloud, public cloud, and hybrid cloud.
Based on organization size, the global cloud manufacturing market has been divided into large enterprises and small and medium-sized enterprises.
Based on industry vertical, the global cloud manufacturing market has been segmented into metal & machinery manufacturing, aerospace & defense, healthcare, semiconductor electronics, automotive, and others.
North America to Dominate the Global Market
Due to the presence of important industry participants such as Amazon.com, Inc., Google, Oracle, and SalesForce, North America accounted for 38% of the market share in the cloud manufacturing market in 2018. The increased adoption of cloud computing across different verticals in the manufacturing business in the United States is propelling market expansion in the region. Manufacturing industries, such as automotive and aerospace and defense, have raised the demand for cloud-based manufacturing solutions, which has boosted the regional market growth. Moreover, Companies’ increasing investments in the acceptance of the internet of things and cloud saturation are driving the market’s development in the United States. Canada is gaining traction in terms of cloud expertise for manufacturing procedures as a result of increased investment by tech behemoths such as Oracle Corporation, Sage, and Pronto Solutions. Eastern Canada is expanding rapidly, whereas western Canada is growing slowly due to concerns about compliance with rules.
In July 2020, Amazon Web Services, Volkswagen AG, and Siemens AG announced the launch of industrial cloud services for technology and manufacturing firms. The partner companies are anticipated to connect with Volkswagen plants and provide their software applications to the industrial cloud to improve production processes.
In May 2020, VMware, Inc. launched the second generation of VMware Cloud, which is now accessible on Dell EMC. The new cloud service combines the agility and simplicity of the public cloud with the control and security of the enterprise-grade on-premise infrastructure. It also offers infrastructure-as-a-service to customers’ edge locations and on-premises data centers that are scalable, secure, and simple.
In September 2020, Rootstock joined forces with DigiPartnerIT, a consultancy firm specializing in IT digitalization. The companies have joined forces to address Finland’s growing need for cloud ERP. Globe Newswire
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