Press release
Global Cloud Manufacturing Market Report: Size, Share, Trend, Segmentation And Forecast To 2033
Global Cloud Manufacturing Market Report
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.
Market Overview -
Cloud manufacturing refers to the manufacturing model that leverages cloud computing technologies to streamline and optimize manufacturing processes, enabling remote access, collaboration, scalability, and data-driven decision-making for improved efficiency and cost-effectiveness. It allows for integrating and coordinating various manufacturing resources, including equipment, facilities, software tools, and expertise, into a virtualized environment accessible remotely, allowing manufacturers to dynamically allocate and utilize resources according to demand, optimize production processes, collaborate with partners and suppliers more efficiently, and adapt quickly to changing market conditions.
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AI Adoption Is Driving Growth In The Cloud Manufacturing Market
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.
Competitive Landscape -
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
Manufacturing-Specific Cloud Platforms Transforming The Cloud Manufacturing Market
Major companies operating in the cloud manufacturing market are developing manufacturing-specific cloud platforms, such as Manufacturing Data Engine and Manufacturing Connect, to gain a competitive edge in the market. Manufacturing Data Engine and Manufacturing Connect is a cloud-based software solution designed explicitly for the manufacturing industry that offers a range of functionalities tailored to address the unique needs and challenges manufacturers face, such as data integration, analytics, process optimization, and supply chain management. For instance, in May 2022, Google LLC, a US-based technology company, launched Manufacturing Data Engine and Manufacturing Connect, aimed at helping manufacturers unify their data and enhance their operations with analytics and AI capabilities. These solutions enable manufacturers to connect previously isolated assets, standardize data, and improve visibility from the factory floor to the cloud. These solutions support critical AI and analytics-based use cases such as manufacturing analytics and insights, predictive maintenance, and machine-level anomaly detection by centralizing and harmonizing data.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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