Cloud Implementation in Manufacturing Market to Reach $131.15 Billion by 2022
Increased adoption of IoT and big data, growing spending on cloud deployment and service models, government initiatives towards the manufacturing sector, growth in the usage of smart devices and enterprise mobile technology will drive the market
Bangalore, India, June 20, 2017 (Newswire.com) - Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide Cloud implementation in Manufacturing Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022.
Worldwide Cloud Implementation in Manufacturing Market to reach $131.15 billion by 2022 at a CAGR of 22.9%
Manufacturers face a persistent pressure to improve accuracy levels, increase speed of operations and use their innate intelligence through analytics and business intelligence to improve operational performance.
"Cloud adoption in manufacturing has provided a breathing space to manufacturers, who used to earlier focus on entire operations such as sales, marketing, etc. Manufacturers have been benefitted by a single platform for tracking and managing direct & indirect sale channels effectively. This has freed up time for them to focus on launching new products and on investing on product improvements rather than internal and external operations."
The manufacturing industry have not invested in advanced IT in the past but now are gradually adopting technology innovations. Cloud computing is one such technology that has revolutionized the manufacturing industry. Cloud computing brings about operational efficiency, reduces cost, bring about economies of scale, offers on demand manufacturing services, reduces ‘time to market’, improves business agility and enhances productivity.
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Manufacturers are continuing to adopt smart devices in their business (internal and external) and increasing cloud spending, spending on IoT technology and big data etc. Cloud implementation in manufacturing sector allows multiple users (organisations) to manage and use manufacturing related information. It provides flexible, secure, scalable and cost-effective solutions/services for manufacturing enterprises with lower ancillary costs by sharing software and database.
The SMEs are also realizing the benefits of cloud technology adoption in their operations. Thus, the SMEs are moving towards cloud adoption, which will help them to expand their business, improve customer base, and productivity. The lack of skilled resources, infrastructural issues and investment needs are some of the challenges in the SME sector. But in the next few years, SMEs are expected to take up cloud implementation in a big way.
The Worldwide Cloud Implementation in Manufacturing Market is analyzed based on four segments: deployment types with service models, enterprise type, industries type, and regions. The market is analyzed and segmented by the following deployment models- Public, Private and Hybrid. The market is analyzed by the following enterprise types – Large Enterprises and SMEs.
The market has been analyzed by the following industries- Discrete (Automotive, Semiconductor & Electronics, Aerospace and Defence and FMCG) Process Industries (Oil and Gas, Food and Beverages and Chemical).
Geographic segments covered in the report are Americas, Europe, Asia-Pacific and the Middle East & Africa (MEA). Further, each region is analyzed by leading countries — Americas: the US, Canada, Brazil, Mexico and Others; Europe: the UK, Poland, Turkey, Germany, France, Russia and others; Asia Pacific: India, China, South Korea, and others. Finally, MEA: GCC and Africa. Americas is the leading region for cloud implementation in manufacturing followed by Europe and Asia Pacific. The APAC region holds a lot of promise for cloud implementation in the manufacturing sector.
The key players covered in this report are VMware, CSC, Amazon, Google, HP, Microsoft, Oracle, Citrix Systems, Salesforce, Cisco System, etc.
“Cloud adoption in manufacturing has provided a breathing space to manufacturers, who used to earlier focus on entire operations such as sales, marketing, etc. Manufacturers have been benefited by a single platform for tracking and managing direct & indirect sale channels effectively. This has freed up time for them to focus on launching new products and on investing on product improvements rather than internal and external operations.” – Jaydeep Bhattacharjee, Group Head at Infoholic Research.
Cloud technology is set to be the primary element in larger enterprises and SMEs. The larger enterprises are continuing to contribute the major market share for cloud implementation in manufacturing followed by SMEs. Hybrid cloud adoption rate is expected to increase in the upcoming years.
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- The report provides complete details about the cloud adoption in the manufacturing market
- The report covers drivers, restraints and opportunities (DRO) affecting the market growth over the forecast period (2016–2022)
- It also contains analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views
- It covers competitive landscape, which includes mergers and acquisitions, joint ventures and collaborations, and competitor comparison analysis
- It includes an in-depth analysis of the emerging regions and verticals for cloud adoption in the next 6–7 years, usage and adoption rate of various cloud deployment types and service models within each industry vertical, analysis of the key business opportunities in each region, industry outlook including current and future market trends and drivers, restraints and emerging technologies
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Source: Infoholic Research