Cloud Based Manufacturing Market Upcoming Trends, Business Boosting Strategies, Forecast till 2025
Cloud implementation for manufacturing has given a breathing space to makers, who utilize this technology to fully concentrate on practices such as marketing, sales, etc. The manufacturing industry is continuously focusing on technology adoption. Manufacturers are embracing cloud technology to improve business agility, diminish the operating costs, time to market, scale their IT operations, improve supplier and customer relationship, enhance the profitability, and further upgrade the business at the global level. Today, cloud based manufacturing model is one of the new paradigms picking up pace in the manufacturing business.
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The cloud based manufacturing model is gaining popularity as it has the capability to improve performance, provide security, provide reliable and high data protection, and improve and maintain quality. This model has no IT hassles, is low cost, and offers on-demand business services for the makers. Likewise, it interconnects all stakeholders together.
The cloud based manufacturing model enables many organizations (users) to deploy and manage business related information and uphold managed services. Apart from this, by sharing software and database, it can deliver secure, flexible, cost-effective, and scalable services/solutions for manufacturing enterprises. At present, big enterprises are focusing on the adoption of cloud technology as an essential model for their business development. Likewise, small and medium enterprises (SMEs) are also understanding the advantages and moving toward cloud adoption to enhance their productivity. These factors are expected to create new opportunities for the cloud based manufacturing market the around the globe.
The global cloud based manufacturing market is witnessing growth owing to factors such as rising adoption rate of IoT technology in external and internal manufacturing firms, service models, and growing expenditure on cloud deployments. Besides, big data footprints and stringent government initiatives associated with manufacturing industry developments are key factors expected to fuel the growth of the cloud based manufacturing market in the coming years. However, growth in the global cloud based manufacturing market is expected to be restrained by factors such as high investment cost and longer duration of implementation. Apart from this, unavailability of proper infrastructure, lack of skills and lack of awareness about cloud value added services are also major factors which are anticipated to hinder the growth of the cloud based manufacturing market across the world.
North America is anticipated to be the leading cloud based manufacturing market, and is anticipated to dominate the market during the forecast period. This is primarily due to rapid adoption of new and advanced technologies, huge investments in industries such as automotive, chemical and semiconductor and electronics, and proficient technical knowledge. Asia Pacific is also anticipated to deliver potential growth opportunities to stir the cloud based manufacturing market in near term. Growing cloud-based applications, increasing spending on IT infrastructure, and growing demand for automation of processes are expected to drive the Asia Pacific cloud based manufacturing market.
The global cloud based manufacturing market is segmented on the basis of deployment model, organization size, and industry vertical. By deployment model, the cloud based manufacturing market is bifurcated into public cloud, private, and hybrid. On the basis of organization size, the market is categorized into large enterprises and small and medium enterprises (SMEs). Based on industry vertical, the global cloud based manufacturing market is segmented into semiconductor & electronics, automotive, FMCG, aerospace and defense, oil and gas, chemical, and food & beverages.
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The market for cloud based manufacturing market is highly fragmented with the presence of players such as HP Development Company, L.P., Salesforce.com, inc., Citrix Systems, Inc., Microsoft Corporation, Google Inc., Plex Systems, Inc., Jelastic, Inc. ,Rootstock Software, Amazon.com, Inc., Cisco Systems, Inc., Computer Sciences Corp. (CSC), VMware, Inc., and Oracle Corporation.
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