Global Industrial Cloud Market Report and Forecast 2024-2032

Global Industrial Cloud Market Outlook

The global industrial cloud market size reached a value of nearly USD 80.34 billion in 2023. The market is projected to grow at a CAGR of 18.3% between 2024 and 2032 to reach around USD 365.80 billion.

Key Trends in the Market

Industrial cloud refers to cloud platforms and services that provide curated, industry-specific functionalities. It combines cloud technologies with industrial automation and data management to enable more efficient and flexible operations in different sectors.

• One of the major factors aiding the global industrial cloud market growth is the increasing adoption of cloud computing technologies, owing to the growing trend of Industry 4.0. Cloud technologies can provide a wide range of functionalities that enable an organisation to optimise data workloads and provide different services.

• Industrial cloud services are extensively being employed in different sectors as they incorporate a variety of SaaS, PaaS, and IaaS solutions to meet industrial requirements. Owing to the rising demand for cloud technologies, service providers are also incorporating new features to establish a distinct place in the market.

• The increasing implementation of edge computing is one of the major global industrial cloud market trends. Cloud technology provides immense computing power, which is beneficial for the integration of edge computing with industrial cloud solutions. Edge computing brings processing closer to the data source, reducing latency and enabling real-time decision-making.

• The integration of artificial intelligence (AI) and machine learning (ML) capabilities into industrial cloud platforms is another major factor enhancing the global industrial cloud market demand. These technologies enable predictive maintenance, anomaly detection, and process optimisation, leading to improved operational efficiency and cost savings.

Market Analysis

Based on type, the market can be segmented into Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Software as a Service (SaaS). The global industrial cloud market segmentation, based on cloud type, includes public cloud, private cloud, and hybrid cloud. The market divisions, based on end-use, include supply chain management (SCM), enterprise resource management (ERM), customer relationship management (CRM), asset management, and project and portfolio management, among others. The major regional markets for industrial cloud are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global industrial cloud market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by Cloud Type

According to the global industrial cloud market analysis, hybrid cloud services are expected to go through rapid development in the forecast period owing to the increasing number of organisations implementing public and private cloud technologies with on-premises infrastructure. This type of cloud infrastructure is witnessing a surge in demand as it provides a company with higher levels of control over data flow, flexibility, and the ability to seamlessly scale up.

Market Share by Region

North America is likely to be a major contributor to the global industrial cloud market share in the coming years. This market scenario can be attributed to the early adoption of cloud technologies by players in different sectors. Moreover, the market in the region is expected to develop rapidly as cloud computing services are increasingly adopted for data recording and managing purposes.

Competitive Landscape

Siemens AG, commonly referred to as Siemens, is a German multinational conglomerate with a global presence in different sectors, such as energy, healthcare, transportation, manufacturing, and digitalisation. Since its foundation in 1847, the company has developed a wide variety of technologies for industrial uses, infrastructure, transport, and healthcare.

Cisco System Inc. is one of the major software development companies in the world, operating since 1984. The company was initially focused on developing networking solutions for local area networks (LANs). Since then, it has developed expertise in networking, security, cloud, data visualisation, and unified computing systems, among others. It provides its software, hardware, and services, to both enterprise customers and service providers.

IBM Corporation is a pioneer in the field of informatics technology, and it is also recognised by the name the International Business Machines Corporation and the nickname Big Blue. Founded in 1911 and currently headquartered in New York, United States, it is a global technology and consulting company with a broad portfolio of products and services. It is actively involved in various fields of information technology, including hardware, software, cloud computing, artificial intelligence, blockchain, data analytics, cybersecurity, and other fields.

Other global industrial cloud market players include Amazon Web Services, Inc., Dell Inc., Oracle Corporation, Honeywell International Inc., Microsoft Corporation, General Electric Company, and Rockwell Automation, Inc., among others.

Key Highlights of the Report