Cloud Manufacturing Market Overview:
Cloud manufacturing is the process of utilizing cloud to source relevant data from manufacturing resources. Technological advancements, across the world, are setting up the path for smooth integration of the cloud manufacturing market in myriad sectors.
The global Cloud Manufacturing Market is all set to score a hike by 23% during the forecast period (2017-2023). Market Research Future (MRFR) predicts that the Surge in CAGR would be amply backed by various factors during the forecast period.
Integration of IoT, demand for easy workflow, surge in implementation of bring-your-own-device or BYOD system, stringent government regulations, cost affordability, easy streamlining of work, and others are major triggers for the cloud manufacturing market growth in the coming years. But the growth could get restrained due to the high initial investment.
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Companies spending substantially in the global cloud manufacturing market are Salesforce.com, Inc. (U.S.), Hewlett Packard Enterprise Company (U.S.), Microsoft Corporation (U.S.), Citrix Systems, Inc. (U.S.), Plex Systems, Inc. (U.S.), Google LLC (U.S.), Rootstock Software (U.S.), Jelastic, Inc. (U.S.), Oracle Corporation (U.S.), Cisco Systems, Inc. (U.S.), Amazon.com Inc. (U.S.), VMware, Inc. (U.S.), DXC Technology (U.S.), and others. These companies have been enlisted in MRFR report for a better analysis of the market in the coming years. Their profiling includes merger, acquisition, product launch, and other strategic moves that took place recently.
In May 2019, Microsoft launched their Cloud and Mobile Technology Incubation Program in Zhaoqing to enable services to excellent incubation project. This would also include Microsoft’s resource and technical support. The endeavor aims at providing speed to the growth and simplifying transformation of local industries by linking forces, elements and resources of science and innovation at work.
MRFR segments the global cloud manufacturing market in their report by component, organization size, deployment model, technology, and industry vertical. The segmentation particularly aims at unraveling of various factors that can trigger future market growth and it is backed by figures based on volume-wise and value-wise analysis of the market.
- Based on the component, the cloud manufacturing market can be segmented into hardware, software, and service. The service segment includes Platform-as-a-Service (PaaS), Software-as-Service (SaaS), and Infrastructure-as-a-Service (IaaS).
- Based on the organization, the cloud manufacturing market includes small & medium enterprises (SMEs) and large enterprises. The SME segment in developing countries is generating much thrust as they have realized the potential of cloud structure which can reduce cost and increase efficacy of the workflow.
- Based on the deployment model, the cloud manufacturing market incorporates private cloud, public cloud, and hybrid cloud. The hybrid cloud segment has much market penetration owing to its simple application process.
- Based on the technology, the cloud manufacturing market encompasses AM, cloud computing, Active Server Pages (ASP), Mgrid, NM, Internet of Things (IoT), virtualization, and others.
- Based on the industry vertical, the cloud manufacturing market comprises BFSI, IT & telecommunication, manufacturing, healthcare, retail & e-commerce, aerospace and defense, oil and gas, chemical, and food & beverages. The BFSI segment is gaining much prospect owing to its high integration of the global cloud manufacturing process to reduce cost and increase customer service.
North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) are the four regions in which MRFR segmented the global cloud manufacturing market for insights. This geographic analysis would ensure a better understanding of various growth opportunities on a demographic scale.
North America has the maximum global cloud manufacturing market coverage as several market leaders function out of this zone. There are well-established research & development centers and simultaneously, the region spends much in IT & telecommunication, automotive, chemical and semiconductor & electronics industries to maintain the economic stature of the region.
The APAC market is all set to be the fastest growing region over the forecast period. Growth in rising adoption of cloud-based services to back the advanced automation process implemented in the manufacturing process is the major booster for the market.
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