Global Cloud Manufacturing Market Research Report: Information By Component (Hardware, Software, and Services), Deployment (Private Cloud, Public Cloud, and Hybrid Cloud), Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), Industry Vertical (Aerospace & Defense, Healthcare, Semiconductor Electronics, Automotive, Metal & Machinery Manufacturing and Others) - Forecast till 2026
Market Overview
Global Market for Cloud Manufacturing is projected to grow at a CAGR of 15.7% during the forecast period (2020–2026)
Governments play a crucial role in the adoption of cloud-based manufacturing solutions in various countries. In recent years, technical advancements in cloud computing have compelled manufacturers to implement cloud-based manufacturing solutions for streamlining their manufacturing processes.
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Regional Analysis
The geographic analysis of the cloud manufacturing market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America
The cloud manufacturing market has been categorized into five different regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America was leading the Cloud manufacturing market in 2019. Asia-Pacific is expected to be the fastest-growing market from 2018 to 2026, whereas Europe is expected to be at the second spot in the cloud manufacturing market in terms of market share during the assessment period
North America has accounted for a significant share in the cloud-based manufacturing market due to the presence of major manufacturing industries, higher adoption of cloud computing solutions, increasing digitization, and automation in the manufacturing sector. The region constitutes countries such as the US, Canada, and Mexico. The US has a higher concentration of manufacturing companies compared to Canada and Mexico, due to which the cloud adoption is higher in the country. Companies across this region are one of the early adopters of cloud technology, due to which this region accounted for the highest market share in 2019.
The adoption of cloud-based manufacturing in Europe is growing rapidly. It allows the manufacturers to store, manage, and process their data remotely, save costs, and increase their production efficiency. Countries such as Germany are hubs to major automotive manufacturing industries such as Volkswagen, Daimler, and BMW. The country is one of the early adopters of cloud technology, which has driven the regional market's growth. Furthermore, government initiatives such as the European Cloud Initiative in European countries will strengthen the data-driven innovation to create a Digital Single Market in Europe. Various national initiatives for digitizing industries such as the smart industry, Industry 4.0, and l'industrie du futur (Industry of the Future) are some of the government initiatives driving the growth of cloud-based manufacturing across Europe.
Asia-Pacific is the largest hub for various manufacturing companies worldwide, which offers an immense growth opportunity in the cloud manufacturing market. The growing adoption of advanced technologies such as industry 4.0 and IoT is expected to drive smart manufacturing growth in Asia-Pacific. The region also holds significant potential for adopting cloud-based manufacturing solutions due to developments in IT infrastructure and high demand for cost-effective and optimized manufacturing processes. The region has been segmented, by country, into China, Japan, India, and the rest of Asia-Pacific. China is expected to dominate as well as grow with the highest CAGR during the forecast period.
The Middle East & Africa segment is expected to witness considerable growth in the cloud manufacturing market. African and the Middle Eastern countries such as Israel, Saudi Arabia, Turkey, the UAE, Qatar, and Oman are highly focused on digital transformation. The countries are witnessing the high adoption of IoT to automate their operations and increase productivity. Moreover, increasing adoption of cloud platforms with a focus on reducing the operating costs and time to market, scaling IT operations, improving business agility, customer and supplier relationship, and productivity in countries such as the UAE and Saudi Arabia is also expected to drive the growth of cloud manufacturing market in the region
Countries considered under South America include Brazil, Peru, Chile, Bolivia, and Uruguay. The region is showing growth in the cloud manufacturing market. Government initiatives supporting the adoption of cloud platforms to digitalize the business processes are fueling the demand for cloud-based manufacturing. Countries such as Brazil and Chile have started investing in advanced technologies such as smart manufacturing, IoT, and AI, which increases the demand for the cloud manufacturing market. Manufacturing industries across the region are creating a huge demand for cloud solutions to automate industrial processes, driving the market growth. However, the countries are in the initial stage of migration to digitalize and adopt advanced technologies and are yet to pick up the pace and thus, as a result, the market growth in the region is expected to be relatively slow
Competitive Analysis
The key players of the global cloud manufacturing market include Oracle Corporation (US), Microsoft Corporation(US), Salesforce.com, Inc. (US), Cisco Systems, Inc. (US), Amazon Web Services, Inc. (AWS) (US), VMware, Inc. (US), Google LLC (US), Hewlett Packard Enterprise Company (US), Citrix Systems, Inc. (US), Plex Systems Inc. (US), Jelastic, Inc. (US), Rootstock Software (US), and DXC Technology Company (US).
Synopsis
Global Cloud Manufacturing Market is segmented based on Component, Deployment, Organization Size, and Industry Vertical.
Based on component, the cloud manufacturing market has been segmented into hardware, software, and services.
Based on deployment, the cloud manufacturing market has been segmented into private cloud, public cloud, and hybrid cloud.
Based on organization size, the cloud manufacturing market has been segmented into large enterprises and small and medium-sized enterprises.
Based on industry vertical, the cloud manufacturing market has been segmented into aerospace & defense, healthcare, semiconductor electronics, automotive, metal & machinery manufacturing, and others.
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