Press release
A Comprehensive Overview of Cloud Manufacturing Market (2024-2033)
Cloud Manufacturing Market Share
The global cloud manufacturing market reached a value of nearly $73,706.35 million in 2023, having grown at a compound annual growth rate (CAGR) of 15.62% since 2018. The market is expected to grow from $73,706.35 million in 2023 to $168,390.75 million in 2028 at a rate of 17.97%. The market is then expected to grow at a CAGR of 16.01% from 2028 and reach $353,765.09 million in 2033.
What are the upcoming opportunities in the global cloud manufacturing market?
The key players in the market are adopting extensive strategies in the cloud manufacturing market such as:
• Focus on strengthening operational capabilities
• Strategic partnerships and collaborations
• Development of new product solutions
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To take advantage of the opportunities, The Business Research Company recommends the cloud manufacturing companies to focus on:
• Focus on advanced analytics and artificial intelligence to drive sustainability and efficiency in manufacturing processes
• Integration of industrial AI innovations for enhanced productivity and real-time decision-making
• Strategic partnerships and collaborations among major players to enhance product offerings
• Centralized platforms for improved transparency and communication in the manufacturing process
• Establishing a solid data foundation for improved supply chain performance and smart manufacturing initiatives
• Adoption of OEM (Original Equipment Manufacturer) programs empowering SAAS and cloud providers to offer branded storage services
• Focus on machine learning to enhance data utilization across manufacturing applications
What is Cloud Manufacturing: Market Definition?
Cloud manufacturing utilizes cloud computing technologies to support the manufacturing industry, allowing shared resources, services, and data through an interconnected network. The market value in this report represents the revenues generated from goods and services sold within the specified market and geography.
The market value includes related goods sold by service providers or included in offerings, focusing only on transactions between entities or sales to end consumers.
Values are 'factory gate' prices, reflecting goods sold by manufacturers to other entities or directly to end customers. Revenues for specified geography are consumption values generated by organizations within that market, regardless of production location.
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Who are the major companies operating in the global cloud manufacturing market?
The global cloud manufacturing market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 22.9% of the total market in 2023. Microsoft Corporation was the largest competitor with a 3.4% share of the market, followed by:
• SAP SE
• Alphabet (Google LLC)
• Oracle Corporation
• Alibaba Group Holding Limited
• International Business Machines Corporation
• Salesforce Inc.
• Tencent Holdings Ltd.
• DXC Technology Company
• Amazon.com Inc.
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