Rise in demand for cloud applications aided in propelling the growth of the global industrial cloud solution during the forecast period

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 6, 2024 /EINPresswire.com/ -- The global 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐂𝐥𝐨𝐮𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at $67.4 billion in 2021, and is projected to reach $352.6 billion by 2031, growing at a CAGR of 18% from 2022 to 2031. Industrial cloud computing is a broad term for cloud technology used in asset-intensive industries such as manufacturing, telecommunications, mining, construction, waste & water management, and energy generation. Moreover, automation processes in industries and the integration & use of the Internet of Things (IoT) in industrial cloud are expected to drive the global market growth. In addition, industrial cloud-based services can process, filter, and manage big data, effectively processing large amounts of information. Factors such as growth in demand for optimum resource utilization, increase in demand for cloud services, and upsurge in demand for cloud services due to COVID-19 pandemic are key factors driving the the industrial cloud market growth. However, rise in concerns related to data privacy and lack of IT infrastructure in underdeveloped nations hamper market growth. Furthermore, increase in adoption of cloud in SMEs provide ample growth opportunities for the industrial cloud industry growth.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 354 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/4363

Rise in demand for cloud applications aided in propelling the growth of the global industrial cloud solution during the forecast period, hence empowering the demand for industrial cloud market. Moreover, lower costs of cloud services and hyper-scaling capabilities during the period has positively impacted industrial cloud industry. However, concerns regarding data security and privacy is anticipated to hamper the industrial cloud market during the forecast period. On the contrary, the growth in demand for cloud services in SMEs is expected to offer remunerative opportunities for the expansion of the industrial cloud market forecast.

By application, the enterprise resource management (ERM) segment held the largest share in 2021, accounting for nearly one-third of the global industrial cloud market, as industrial cloud helps to optimize enterprise business functions and IT process. However, the asset management segment is estimated to register the highest CAGR of 20.2% during the forecast period, as it provides cost-effective and efficient solution for asset management.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/industrial-cloud-market/purchase-options

By type, the SaaS segment dominated the market in terms of revenue in 2021, accounting for nearly two-fifths of the global industrial cloud market as cloud helps industries to quick access and easy implementation of software. However, the PaaS segment is projected to showcase the highest CAGR of 19.8% during the forecast period, due to the availability of a common platform to develop software projects.

By enterprise size, the large enterprises segment dominated the global market in 2021, and is expected to continue this trend during the forecast period as cloud computing technology offers numerous benefits for large enterprises, boosting growth of the industrial cloud market. Conversely, the small- & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period, owing to surge in adoption of cloud-based services, as it provides cost-effective and efficient solution for SMEs.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

ALIBABA GROUP HOLDING LIMITED, Oracle Corporation, Hewlett Packard Enterprise, Hitachi Ltd, IBM Corporation, Amazon Web Services, Google LLC, OptDyn, General Electric, Crave Industry, Ptc Inc, Honeywell Corporation, Siemens AG, Dell Technologies, Microsoft Corporation, Cisco System Inc, Rockwell Automation

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/4363

Region wise, the industrial cloud market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on technological solutions However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding infrastructure in the region, which is expected to fuel the growth of the industrial cloud industry in the region during the forecast period

By enterprise size, the large enterprises segment held the largest share in 2021, contributing to more than two-thirds of the global industrial cloud market, due to increase in adoption of Industrial cloud technology by various enterprises in energy & Utilities for smooth operations. However, the SMEs segment is projected to register the highest CAGR of 19.5% during the forecast period, owing to surge in adoption of cloud-based services as it provides cost-effective and efficient solutions for SMEs.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/4363

By solution, the service segment is projected to manifest the highest CAGR of 18.9% from 2022 to 2031, due to surge in adoption of professional services for integration and deployment of cloud solutions. However, the solution segment held the largest share in 2021, contributing to nearly two-thirds of the global industrial cloud market, due to adoption of solutions by various industries for efficient work process.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By end user, process manufacturing segment accounted for the largest Industrial Cloud market share in 2021.

By region, North America generated the highest revenue in 2021.

By type, SaaS segment accounted for the largest Industrial Cloud market share in 2021.

By cloud type, the public cloud segment generated the highest revenue in 2021.

David Correa
Allied Market Research
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