Cloud Manufacturing Market Expected to Reach US$ 211.7218 Billion by 2032 | CAGR 16.11% [PDF Version]

Market Scenario:

As per the prediction, the Cloud Manufacturing Market generated a revenue of USD 64.09272 billion in 2023 and will reach a market value of USD 211.7218613 Billion by 2032, growing at a CAGR of 16.11%. The North American region accounted for 37.2% of the market share in the cloud manufacturing market in 2022 due to the presence of key market players such as Amazon.com, Inc., Google, Oracle, and others like SalesForce. The manufacturing industries, including automotive and aerospace & defense, have shown increased demand for cloud-based manufacturing systems, positively impacting market growth in the region.

Competitive Analysis:

Retailers, distributors, wholesalers, 3D printing metal producers, investors and trade specialists, governments, associations, industrial bodies, and so on are proposed viewers in the global cloud manufacturing market. The key players in the worldwide cloud manufacturing market are focusing on solidifying their global strategies by conquering previously untapped markets.

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Dominant Key Players in Cloud Manufacturing Industry Covered Are:

• Oracle Corporation (US)
• Google LLC (US)
• Microsoft Corporation (US)
• Salesforce.com Inc. (US)
• Rootstock Software (US)
• Cisco Systems Inc. (US)
• Amazon Web Services Inc. (AWS) (US)
• VMware Inc. (US)
• Hewlett Packard Enterprise Company (US)
• Citrix Systems Inc. (US)
• Plex Systems Inc. (US)
• Jelastic Inc. (US)
• DXC Technology Company (US)

Market Segmentation:

The cloud manufacturing market can be segmented by deployment, component, and industry.

• Deployment: The market can be segmented into on-premises and cloud-based deployment. On-premises deployment involves the installation of cloud manufacturing software on the manufacturer’s own servers. Cloud-based deployment involves the use of cloud-based software that is hosted by a third-party provider.
• Component: The market can be segmented into software, hardware, and services. Software includes applications such as product lifecycle management (PLM), enterprise resource planning (ERP), and manufacturing execution systems (MES). Hardware includes servers, storage, and networking devices. Services include consulting, training, and support.
• Industry: The market can be segmented by industry, such as automotive, aerospace, healthcare, and consumer goods.

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Cloud Manufacturing Market Drivers:

Increasing Use of IoT in Manufacturing

The global manufacturing industry is increasingly relying on the cloud to manage day-to-day processes ranging from design to production and maintenance. The increasing use of IoT in manufacturing processes has compelled manufacturers to migrate to cloud-based management platforms, such as ERP systems. Large corporations control a sizable portion of the worldwide cloud manufacturing market. Cloud computing, virtualization, and the Internet of things (IoT) have all had a favorable impact on the expansion of the cloud manufacturing market. Cloud-based manufacturing provides various advantages to producers, including higher productivity and lower costs.

According to MRFR analysis, Microsoft Corporation presently holds the largest market share in the worldwide cloud manufacturing industry. Microsoft Corporation provides a variety of cloud-based manufacturing products and solutions, including Azure IoT for Process Manufacturing, Connected Field Services, Connected Factory, Predictive Maintenance, and Azure IoT Edge. Microsoft is committed to developing products and solution suites with expanded functionality in response to industry demands, which promotes customer satisfaction. The company also emphasizes partnering with major manufacturing behemoths such as the BMW Group to launch a cloud-based platform for sharing smart factory solutions across the manufacturing and automotive sectors, as well as expanding its consumer base and maintaining its leadership position in the global cloud manufacturing market.

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Industry News:

In July 2020, Amazon Web Services, Volkswagen AG, and Siemens AG announced the launch of industrial cloud services for technology and manufacturing firms. The partner companies are anticipated to connect with Volkswagen plants and provide their software applications to the industrial cloud to improve production processes.

In May 2020, VMware, Inc. launched the second generation of VMware Cloud, which is now accessible on Dell EMC. The new cloud service combines the agility and simplicity of the public cloud with the control and security of the enterprise-grade on-premise infrastructure. It also offers infrastructure-as-a-service to customers’ edge locations and on-premises data centers that are scalable, secure, and simple.

In September 2020, Rootstock joined forces with DigiPartnerIT, a consultancy firm specializing in IT digitalization. The companies have joined forces to address Finland’s growing need for cloud ERP.

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