Global Industrial Cloud Market Report and Forecast 2024-2032

Global Industrial Cloud Market Report and Forecast 2024-2032

Global Industrial Cloud Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global industrial cloud market size reached a value of USD 68.50 billion in 2023. Aided by the increasing adoption of cloud computing technologies, owing to the growing trend of Industry 4.0, the market is projected to further grow at a CAGR of 17.5% between 2024 and 2032 to reach a value of USD 292.9 billion by 2032.

Industrial cloud, a specialized segment of cloud computing, is designed to meet the needs of industrial sectors such as manufacturing, energy, healthcare, and logistics. By offering scalable computing resources and advanced data analytics capabilities, industrial cloud solutions enable companies to optimize their operations, enhance productivity, and reduce costs. These solutions support various applications, including predictive maintenance, real-time monitoring, and supply chain management, making them essential for modern industrial operations.

The increasing digitisation of industrial processes is a significant driver of the industrial cloud market growth. With the rise of Industry 4.0, companies are increasingly adopting cloud-based solutions to integrate and streamline their operations. This shift is driven by the need to manage large volumes of data generated by industrial equipment and systems, as well as the growing demand for real-time data analytics to enhance decision-making and operational efficiency.

The manufacturing sector, in particular, is a major contributor to the industrial cloud market share. The adoption of smart manufacturing technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), is driving the demand for industrial cloud solutions. These technologies generate vast amounts of data that need to be stored, processed, and analysed efficiently, which is where industrial cloud solutions come into play. By enabling manufacturers to monitor their production processes in real-time, predict equipment failures, and optimize supply chains, industrial cloud solutions are helping companies improve their operational efficiency and competitiveness.

The energy sector is another key driver of the market for industrial cloud. The increasing adoption of renewable energy sources and the need to manage complex energy grids are propelling the demand for cloud-based solutions. Industrial cloud solutions enable energy companies to monitor and manage their assets in real-time, optimize energy production and distribution, and enhance the reliability and stability of energy grids. Moreover, the growing focus on sustainability and the transition to smart grids are further driving the demand for industrial cloud solutions in the energy sector.

As per the global industrial cloud market analysis, the healthcare industry is also playing a significant role in the growth of the market. The increasing adoption of digital health technologies, such as electronic health records (EHRs), telemedicine, and wearable devices, is generating large volumes of data that need to be managed and analyzed efficiently. Industrial cloud solutions provide healthcare organizations with the necessary infrastructure to store and process this data securely, enabling them to improve patient care, enhance operational efficiency, and comply with regulatory requirements.

The logistics and transportation sector is another major contributor to the industrial cloud market development. The increasing complexity of supply chains and the growing demand for real-time visibility and traceability are driving the adoption of industrial cloud solutions. These solutions enable logistics companies to monitor and manage their operations in real-time, optimize routes and delivery schedules, and enhance customer service. By providing end-to-end visibility and control over supply chain operations, industrial cloud solutions are helping logistics companies improve their operational efficiency and responsiveness to market changes.

The growing complexity of supply chains and the demand for real-time visibility and traceability are driving the adoption of industrial cloud solutions in the logistics and transportation sector. These solutions enable logistics companies to monitor and manage their operations in real-time, optimize routes and delivery schedules, and enhance customer service.

Market Segmentation

The market can be divided based on type, cloud type, end use and region.

Market Breakup by Type

• Platform as a Service (PaaS)
• Infrastructure as a Service (IaaS)
• Software as a Service (SaaS)

Market Breakup by Cloud Type

• Public Cloud
• Private Cloud
• Hybrid Cloud

Market Breakup by End Use

• Supply Chain Management (SCM)
• Enterprise Resource Management (ERM)
• Customer Relationship Management (CRM)
• Asset Management
• Project and Portfolio Management
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial cloud market. Some of the major players explored in the report by Expert Market Research are as follows:

• Amazon Web Services, Inc.
• Siemens AG
• Cisco System Inc.
• IBM Corporation
• Dell Inc.
• Oracle Corporation
• Honeywell International Inc.
• Microsoft Corporation
• General Electric Company
• Rockwell Automation, Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.