Industrial Cloud Market Size, Share, Opportunities, And Trends By Type (Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Software As A Service (SaaS), Others), By Cloud Type (Public Cloud, Private Cloud, Hybrid Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Asset Management, Customer Relationship Management (CRM), Enterprise Resource Management (ERM), Supply Chain Management (SCM), Project And Portfolio Management, Others), By End-Use (Process Manufacturing, Discrete Manufacturing), And By Geography - Forecasts From 2023 To 2028

The industrial cloud market is projected to grow considerably during the forecast period

The industrial cloud market aims to improve the manufacturing and automotive industries by offering a variety of Industrial IoT (IoT) solutions. Additionally, it aids in empowering the supply chain community to promote efficiency improvements and revamp processes. Due to an increase in investment in digital transformation, cloud service providers are seeing an increase in demand for industry-specific solutions. Therefore, major cloud service providers are concentrating on expanding their product offerings in order to meet industry needs. For instance, Microsoft Corporation and SAP SE worked together in December 2020 to offer SAP supply chain solutions for the manufacturing industry utilizing Microsoft Cloud.

Increased adoption of the cloud by small and medium-sized businesses

The industrial cloud offers small and medium-sized businesses (SMEs) a more intelligent and efficient technological solution that helps to reduce costs and multiply productivity. The cloud also provides SMEs with a host of advantages, including decreased downtime, enhanced data protection, CRM administration, adaptable storage, resource optimization, and remote computing. For instance, cloud technology contributes to higher levels of data security for the business. Additionally, a benefit of using cloud computing technology is that data is always being backed up.

Increasing government investments

Cloud computing is being used more frequently in the industrial cloud market as a result of rising government investments and initiatives. For instance, in June 2022, the Ministry of Education, the All-India Council for Technical Education, and Amazon Web Services collaborated to train students in cloud computing and machine learning skills in order to strengthen and concentrate on developing a workforce in India that is ready for the future and has the necessary digital skills. Additionally, the Action Plan for Innovative Development of the Industrial Internet predicts an exponential rise in the number of industrial enterprises and tools using the cloud from 2020 to 2023.

High adoption of Industry 4.0

The industrial cloud market size is expanding as a result of Industry 4.0's expanding usage in the manufacturing sector. Through the Internet of Things (IoT), the industrial cloud makes it possible to automate the manufacturing process. According to the "India Industry 4.0 Adoption Report" released in March 2022 by the National Association of Software and Service Companies (NASSCOM) and Capgemini, the investments in Industry 4.0 are anticipated to expand to USD 200 Bn by 2025, a tenfold increase over the previous ten years. Additionally, it is projected that nations including China, the US, India, Brazil, and the UK will contribute with investments totalling more than USD 100 billion.

Increasing use of Platform as a Service (PaaS)

Due to the constant need to handle variables, data, and tasks, modern business models are getting complex. It reduces the burden on organisations by concentrating on their growth and operational side as opposed to allocating pricey and essential IT resources. PaaS can assist development teams increase their capabilities while obviating the need to engage more skilled workers for specific tasks. Organisations can reduce costs in the most efficient way possible with the help of a platform. For instance, Serverless compute services from Amazon's AWS Lambda allow businesses to run their apps without worrying about servers or other backend requirements.

Increased use of the cloud by SMEs

The number of entrepreneurs running small and medium-sized businesses has dramatically increased during the past few decades. Due to the benefits offered, including cost savings and more business flexibility, there is a high demand for cloud computing services, which is beneficial for new firms. The expansion of these small and medium-sized businesses has increased the need for cloud computing services. For instance, according to the 2023 survey by Microsoft Corporation, small and medium-sized firms contributed to the economies of all nations by over 76%. Another finding revealed that 79% of business owners said the technology might make work more fun.

North America is projected to dominate the Industrial cloud market

During the projected period, the North American region is anticipated to lead the Industrial cloud market. This is due to factors including the widespread use of cloud computing in this region by several companies, including the automobile, healthcare, and finance sectors. Major players spurs market expansion. For instance, Amazon Web Services announced in December 2021 the US expansion of Amazon S3 on Outposts into AWS GovCloud. Sensitive workloads could now be transferred to sensitive AWS Outposts by US government contractors and agencies thanks to this upgrade. Low latency, on-site data residency, and local data processing were made possible by Amazon S3 on outposts.

Market key launches

• On April 2023, the Manufacturing Data Cloud was introduced by Snowflake, a company that specializes in data clouds. By using its data platform, partner- and Snowflake-delivered solutions, and industry-specific datasets, the Manufacturing Data Cloud enables businesses in the automotive, technology, energy, and industrial sectors to unlock the value of their vital but siloed industrial data. With the help of the Manufacturing Data Cloud, manufacturers can work securely and flexibly with partners, suppliers, and customers, enhancing agility and visibility throughout the whole value cha Manufacturing companies can collaborate securely and adaptably with suppliers, customers, and partners thanks to the Manufacturing Data Cloud, improving agility and visibility across the entire value chain. In today's digital-industrial world, businesses may create a data basis for their operations, enhance the performance of their supply chains, and power smart manufacturing efforts.
• In September 2022, the NVIDIA OmniverseTM Cloud, a full suite of cloud services allowing artists, developers, and enterprise teams to design, publish, operate, and enjoy metaverse applications everywhere, is the company's first software- and infrastructure-as-a-service offering. Without the need for any local computational resources, individuals and teams can easily create and collaborate on 3D workflows with Omniverse Cloud. With greater scalability and accessibility, roboticists can train, model, test, and deploy intelligent robots with AI. To evaluate a range of road and weather conditions for safe self-driving deployment, autonomous vehicle engineers can produce physically based sensor data and simulate traffic scenarios.
• In September 2022, the NVIDIA OmniverseTM Cloud, a full suite of cloud services allowing artists, developers, and enterprise teams to design, publish, operate, and enjoy metaverse applications everywhere, is the company's first software- and infrastructure-as-a-service offering. Without the need for any local computational resources, individuals and teams can easily create and collaborate on 3D workflows with Omniverse Cloud. With greater scalability and accessibility, roboticists can train, model, test, and deploy intelligent robots with AI. To evaluate a range of road and weather conditions for safe self-driving deployment, autonomous vehicle engineers can produce physically based sensor data and simulate traffic scenarios.
• In May 2022, Manufacturing Data Engine and Manufacturing Connect, two new solutions from Google Cloud, were made accessible to manufacturers. These products connect previously isolated assets, process and standardize data, and enhance visibility from the factory floor to the cloud. The solutions enable three crucial AI- and analytics-based use cases, including manufacturing analytics & insights, maintenance planning, and machine-level anomaly detection, once the data has been harmonized.

Segmentation:

• By Type
  • Infrastructure as a Service (IaaS)
  • Platform as a Service (PaaS)
  • Software as a Service (SaaS)
  • Others
• By Cloud Type
  • Public Cloud
  • Private Cloud
  • Hybrid Cloud
• By Enterprise Size
  • Large Enterprises
  • SMEs
• By Application
  • Asset Management
  • Customer Relationship Management (CRM)
  • Enterprise Resource Management (ERM)
  • Supply Chain Management (SCM)
  • Project and Portfolio Management
  • Others
• By End-Use
  • Process Manufacturing
  • Discrete Manufacturing
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others