Cloud Based Manufacturing Market Scope Report

Global Cloud Based Manufacturing Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global cloud-based manufacturing market is estimated to garner a revenue of USD 210 Billion by the end of 2033 by growing at a CAGR of ~20% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 53 Billion in the year 2022. The primary growth factor of the cloud-based manufacturing market is convenience. Customers prefer to use cloud-based technology for several reasons, including its easy access and minimal setup time. This allows businesses to quickly move upmarket by using advanced production processes that were once difficult or impossible to adopt due to the required space and equipment. As per the reported data, 90% of successful organizations use cloud services in some capacity. Nearly half of the software used by manufacturers will be cloud-based by 2023. To stay ahead of the curve, cloud computing must be integrated now.

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To compete in Industry 4.0, which democratizes access to state-of-the-art technology and software, IT and OT departments have combined to create cloud manufacturing, a new method of working in a digital and collaborative environment. With a smart factory capable of providing tailored solutions throughout the whole manufacturing process life cycle, cloud manufacturing is the new lever for boosting competitiveness. However, you may easily create customized prototypes or entire production lines using digital printing technology without paying these expenses. As per recent statistics, Cloud computing and other digital services currently make up at least 25% of all inputs used to create finished manufacturing goods.

Global Cloud Based Manufacturing Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Demand from Emerging Markets – As firms and their IT teams are reluctant to leave the legacy paradigm of their present infrastructure, the number of employers in developing markets is still relatively cautious when it comes to shifting their organization operations to the cloud. As per recent data, A USD 39 billion spending plan will have a prominent impact on the amount of money spent on IT across different economic sectors.

• Decreasing Infrastructure Costs – As per recent data, 61 percent of companies intend to reduce their cloud charges in 2021, making it clear that this is a high goal. In actuality, 76% of companies rate the success of their cloud ventures based on cost-effectiveness and savings.

• Rise in Adoption of 3D Printing Technology – To provide consumers with a variety of online printing services, 3D printing cloud platforms have been created by fusing cloud computing, IoT, and 3D printing technologies. Any digital model that fits within the printing size of 220 mm 250 mm may be printed with a 3D printer. As per recent statistics, a low-cost smart remote monitoring system based on Node-red and Octoprint connected to 3D printers has been added to build agricultural equipment using additive manufacturing (AM). This system has trained a model to detect print mistakes with 75% accuracy.

• Increased Interest in Utilizing Software as a Service (SaaS) Models – Global e-commerce heavyweights will spend so much money on technology to offer the finest possible shopping experience. According to recent research, in 2020, 75% of major enterprises and 40% of small businesses each have at least one online community.

Challenges

• High Cost of Acquisition and Setup

• Lack of Identity Management Support

• Inadequate Data Analytics

The global cloud-based manufacturing market is segmented and analyzed for demand and supply by component into hardware, software, and services. out of these, the hardware segment is anticipated to hold the largest share over the forecast period due to the growing demand for industrial robots that can assist in faster and more accurate manufacturing processes. In addition, the increased adoption of 3D printing technology will augment the demand for parts reprocessing services from manufacturing companies. Some of these limitations can be solved through the concepts of cloud robotics, resulting in more intelligent, efficient, but still less expensive robotic networks, due to the rapid expansion of wireless communications and recent advances in cloud computing technology. As per the international federation of robotics statistics, cobot use increased by 11% in 2019 to 4.8% of 1800 out of more than 373,000 installed industrial robots.

Global Cloud Based Manufacturing Market Regional Synopsis

Regionally, the global cloud based manufacturing market is studied in five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033, with rising demand for automated processes, increasing use of 3D printing technology, and increased automation in various industrial sectors. The market will be led by the US and Canada. According to recent data, around 55% of American organizations were storing sensitive data in the cloud as of 2020. By 2025, 95% of workloads, according to IT experts, will be cloud-based. In addition, they forecast that 30% of company workloads would be in private clouds and 28% will be in public clouds.

Market Segmentation

Our in-depth analysis of the global cloud based manufacturing market includes the following segments:

Key Companies Dominating the Global Cloud Based Manufacturing Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global cloud based manufacturing market that are included in our report are Amazon.com, Hewlett Packard Enterprise Co, Google LLC, Oracle Corporation, Cisco Systems Inc., VMware Inc., DXC Technology Co., Salesforce.com Inc., Citrix Systems Inc., and others.

Global Cloud Based Manufacturing Market: Latest Developments

• 8th December 2021: Google LLC, - Rightmove is moving a number of its systems to Google Cloud to accelerate the provision of updates, maintain its market-leading technological breakthroughs, and progress toward a net-zero carbon footprint.

• 27th June 2022: Oracle Corporation, - A new cloud application designed exclusively for utility customer support teams, Oracle Utilities Agent Service, was unveiled by Oracle today. To give agents a comprehensive understanding of each customer, Agent Service combines invoicing, usage, and interaction history into a single dashboard.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the client’s requirement helping them to see possible and unexpected challenges and unforeseen opportunities to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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