The cloud manufacturing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cloud Manufacturing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cloud manufacturing market size has grown rapidly in recent years. It will grow from $73.71 billion in 2023 to $86.20 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to cost reduction initiatives, globalization and supply chain optimization, scalability and flexibility needs, compliance and regulatory requirements, business continuity and disaster recovery.
The cloud manufacturing market size is expected to see rapid growth in the next few years. It will grow to $163.00 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to sustainability and environmental concerns, demand for real-time insights and analytics, market dynamics and competitive pressures, shift towards sterilization and outcome-based models, regulatory and compliance evolution. Major trends in the forecast period include increased adoption of hybrid cloud solution, integration of edge computing with cloud manufacturing, ai and machine learning-driven optimization, focus on sustainability and circular economy, expansion of industry-specific cloud manufacturing solutions.
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Scope Of Cloud Manufacturing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cloud Manufacturing Market Overview
Market Drivers –
The increasing adoption of artificial intelligence (AI) in manufacturing is expected to propel the growth of the cloud manufacturing market going forward. Artificial intelligence (AI) refers to developing computer systems and algorithms that can perform tasks requiring human intelligence, such as learning from data, making predictions, and solving complex problems. The rising adoption of artificial intelligence (AI) in manufacturing is due to its ability to optimize processes, enhance productivity, and enable predictive maintenance. Artificial intelligence is utilized in cloud manufacturing to analyze vast amounts of production data, optimize processes, predict equipment failures, and enhance decision-making for improved efficiency and productivity. For instance, in May 2022, according to a survey among 321 manufacturers conducted by Rockwell Automation Inc., a US-based provider of industrial automation and digital transformation technologies, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either utilizing or planning to integrate artificial intelligence into their manufacturing operations. Further, 83% of manufacturing professionals will upgrade their modernization processes into smart factories. Therefore, the increasing adoption of artificial intelligence (AI) in manufacturing is driving the growth of the cloud manufacturing market.
Market Trends –
Major companies operating in the cloud telephony service market focus on providing cloud phone services to new locations to deliver communication services. Cloud phone services offer flexibility by allowing users to make and receive calls from any location with an internet connection, facilitating remote work and business continuity. Cloud phone services provide call routing, voicemail transcription, and integration with other business tools, enhancing productivity and efficiency for users. For instance, in June 2023, RingCentral, Inc., a US-based cloud communications solution company, launched a cloud telephony service in India. This is the country’s first global cloud provider to offer fully compliant cloud phone system services. This move enables multinational organizations in India to access cloud phone capabilities for streamlined communication with employees, customers, and partners.
The cloud manufacturing market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Industry Vertical: Aerospace And Defense, Healthcare, Semiconductor Electronics, Automotive, Metal And Machinery Manufacturing, Other Industry Verticals
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Regional Insights –
North America was the largest region in the cloud manufacturing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the cloud manufacturing market are Amazon.com Inc., Google LLC, Microsoft Corporation, Dell Technologies Inc., Siemens AG, International Business Machines Corporation, General Electric Company, Cisco Systems Inc., Oracle Corporation, NetSuite Inc., SAP SE, Salesforce.com Inc., Hewlett Packard Enterprise Company, DXC Technology Company, VMware Inc., Rockwell Automation Inc., Citrix Systems Inc., Jelastic Inc., Hitachi Vantara, PTC Inc., Cloudera Inc., Box Inc., Rootstock Software
Table of Contents
1. Executive Summary
2. Cloud Manufacturing Market Report Structure
3. Cloud Manufacturing Market Trends And Strategies
4. Cloud Manufacturing Market – Macro Economic Scenario
5. Cloud Manufacturing Market Size And Growth
…..
27. Cloud Manufacturing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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