The global cloud manufacturing market generated $38.72 billion in revenue in 2018 and is projected to reach $111.90 billion by 2024, with a CAGR of 19.8%. The growth of the global cloud manufacturing market is driven by increasing demand for cloud-based solutions across industrial sectors and government initiatives aimed at upgrading manufacturing processes worldwide.
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Cloud-based manufacturing software offers tools that help companies visualize and streamline the production process from design to delivery. These software providers offer mobile support, enabling workers on the assembly floor to access critical information from various locations on their mobile devices. Cloud manufacturing software includes features such as production management, accounting, shipping and logistics, supply chain management, and resource management. Various industries, including aerospace, semiconductor electronics, and food and beverages, have adopted cloud-based manufacturing software in their production processes.
Market Segmentation
Component
- Hardware
- Software
- Services
Deployment
- Private Cloud
- Public Cloud
- Hybrid Cloud
Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
Industry Vertical
- Aerospace and Defense
- Healthcare
- Semiconductor Electronics
- Automotive
- Metal & Machinery Manufacturing
- Others
Regional Analysis
The global cloud manufacturing market is divided into regions, including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America holds a significant share of the cloud manufacturing market due to the presence of major manufacturing companies, high adoption of cloud computing solutions, and increasing digitization and automation in the industrial sector. In the US, the growing emphasis on digitization and the adoption of smart manufacturing are contributing to the market’s growth. Canada is also gaining momentum in adopting cloud technology for manufacturing processes, with investments from tech giants like Oracle, Sage, and Pronto Solutions. In Europe, the adoption of cloud technology is increasing, particularly among SMEs. The Business of the Future Alliance in France is fostering the adoption of cloud-based solutions in the engineering industry. North America had the largest market share (40.01%) in 2018, with a market value of $15.5 billion, and is expected to grow at a CAGR of 20.5%. Europe was the second-largest market in 2018, with a market value of $10.8 billion and a projected CAGR of 19.3%. The Asia-Pacific region is expected to record the highest CAGR of approximately 21.2%.
Major Players
Key players in the global cloud manufacturing market include:
- Microsoft Corporation
- Salesforce.com, Inc.
- Amazon Web Services, Inc. (AWS)
- VMware, Inc.
- Google LLC
- Hewlett Packard Enterprise Company
- Citrix Systems, Inc.
- Plex Systems Inc.
- Oracle Corporation
- Jelastic Inc.
- Rootstock Software
- DXC Technology Company
- Cisco Systems, Inc.
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