The manufacturing industry is one of the primary industries for technology implementation in the industry landscape. Most of the manufacturers are implementing cloud technology to reduce the operating costs, time to market, scale their IT operations, improve business agility, improve the productivity, improve the customer & supplier relationship, and also to augment the business at the global level. The cloud manufacturing technology is assigned to the process of using the data from well-established manufacturing resource such as the Enterprise Resource Planning (ERP) by the cloud. The cloud-based manufacturing systems permit multiple users or organizations to manage & deploy manufacturing associated information or maintain managed services. It provides reliable & high data protection, no IT hassles, low cost improves the performance, secure, improves & maintains quality and on-demand manufacturing services for the manufacturers.
According to the study, “Worldwide Cloud-Based Manufacturing Market – Deployment Models (Private, Public, and Hybrid), Enterprise Type (Larger Enterprises and SMEs), Industries Type (Discrete Industries and Process Industries), Regions (Americas, Europe, Asia Pacific (Excluding Japan), Middle East & Africa) – Drivers, Opportunities, Trends, and Forecasts, 2016-2022” the major companies manufacturing in the worldwide cloud based manufacturing market are VMware Inc., Amazon.com, Inc., Computer Sciences Corp. (CSC), HP Inc., Google Inc., Oracle Corporation, Microsoft Corporation, Salesforce.com, Inc., Citrix Systems, Inc., Jelastic, Inc., Cisco System Inc., Rootstock Software, Plex Systems, Inc. These providers can provide public and private clouds, depending on the point of accessibility &security required by the application.
Based on the deployment model, worldwide cloud-based manufacturing market is segmented into private, public, and hybrid cloud. These deployment models include several service models for instance Infrastructure as Services (IaaS), Software as Services (SaaS), and Platform as Services (PaaS). Based on the enterprise type, the market is bifurcated into small & medium enterprises or SMEs and large enterprises. Based on the mode of technology, the market is segmented into Mgrid, active server pages (ASP), internet of things (IoT), cloud computing, virtualization, and others. Based on industry type, the market is bifurcated into process industries and discrete industries. The discrete manufacturing industry companies have forcefully adopted the cloud technology evaluated to process manufacturing industries. The worldwide cloud-based manufacturing market is primarily driven by the reduction of the operational cost followed by improving business agility and enterprise mobile technology. Apart from key benefits, some of the major restraints impacting the market growth include lack of enterprise & skills cost investments and security & privacy. Moreover, cost investment, unavailability of proper infrastructure, lack of skills, and lack of awareness about cloud value-added services are a few of the challenges in the SMEs industry. Additionally, the other key opportunities include an increase in the adoption of Internet of Things (IoT) and cloud adoption rising in small & medium enterprises.
The emerging new concepts, Industry 4.0, IoT, Industrial Internet of Things (IIoT), analytics &digital technologies and big data are anticipated to drive the cloud-based manufacturing market in the near future. In addition, aerospace & defense, automotive, FMCG and semiconductor & electronics industries are vastly investing in these technologies to get better their customer satisfaction, customer monitoring, reduce expenditures for their IT operations, providing the real-time information, product & services monitoring, connecting supply chains 24/7, proactive maintenance, and improving overall productivity. The Worldwide Cloud-Based Manufacturing market is likely to grow at a CAGR of 22.9% during the calculated period 2016-2022.
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Ankur Gupta, Head Marketing & Communications