Global Cloud Manufacturing Market Scope

Global-Cloud-Manufacturing Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global-cloud-manufacturing market is estimated to garner a revenue of ~USD 206 billion by the end of 2031 by growing at a CAGR of ~16% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 59 billion in the year 2021. Cloud manufacturing enables customers to purchase manufacturing capabilities and services from a single website. Such websites ensure the best but cost-effective manufacturing services on-demand for the customers. Also, the manufacturing services in cloud manufacturing cater to a product's whole life cycle, including designing, simulation, production, testing, and maintenance. The market growth during the forecast period can be attributed mainly to the progress of cloud computing. It is predicted that by 2025, the data stored in the cloud should amount to more than 99 zettabytes.

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It was predicted that by 2021 cloud data centers could be processing ~95% of all workload, with ~75% of that being SaaS processes.  As of 2022, more than 80% of all enterprises follow a multi-cloud strategy, and ~68% of enterprises have their infrastructure based in the cloud.  Using cloud computing, manufacturers can employ advanced production systems, including 3D printing, the Internet of Things (IoT), and high-performance computing (HPC). As cloud computing makes technologies equally accessible to small and large manufacturers, it is the primary factor leading to the growth of the global-cloud-manufacturing market size.

Global-Cloud-Manufacturing Market: Growth Drivers and Challenges

Growth Drivers

• Effective Use of IoT in Manufacturing - Approximately 60% of manufacturers agree that IoT is a prerequisite for digitizing industrial operations. The application of IoT in manufacturing is mostly in sectors including aviation and aerospace (~63%), power and energy (~65%), and utilities (~59%). It is predicted that by 2025, there should be more than 30 billion IoT devices amounting to ~76% of total devices.  IoT enhances operational visibility in cloud manufacturing. When IoT is in sync with cloud manufacturing, a single dashboard enables manufacturers to compare the performance at different sites and respond to IoT signals from various factories.

• Growing Demand for Enterprise Resource Planning (ERP) - As of 2022, ~51% of enterprises are about to acquire, upgrade, or are planning to update ERP systems without delay. Manufacturing companies have been observed to be the leading customers of ERP software, constituting about 48% of all enterprises purchasing the software. In 2019, it was estimated that ERP implementations have been successful for about 68% of manufacturers and distributors. Using a cloud ERP, different departments of manufacturing can coordinate the centralized intelligence and data to work under changing demands and work pressure.

• Tremendous Possibilities of Business Intelligence (BI) in Cloud Manufacturing - In 2020 manufacturing industry had the highest adoption rate for cloud BI constituting about 59% of the entire industry. About 50% of manufacturers use BI intending to increase their year-over-year (YOY) budgets.  Improved productivity, enhanced management of the supply chain, better demand forecasting, improved inventory control, crucial alerts, improved quality control, compliance with governmental and industry regulations, improved financial management, faster decision-making, and prescriptive and predictive analytics are the benefits of using cloud BI in manufacturing.

• Rapid Growth of Virtualization - It has been projected that ~36% of enterprises should have adopted data virtualization by 2020.  Virtualization is significant in cloud manufacturing as it helps in dynamic allocation and resource sharing.

• Excellent Security Offered by Cloud Manufacturing - ~49% of organizations have placed much trust in the cloud by storing their most important and classified data in the cloud.  Cloud computing offers extra protection to data from cybersecurity threats by encrypting and continuously monitoring it.

Challenges

• Inadequate preparedness for cloud migration

• Insufficient competence among the manufacturers

• Extreme reluctance to migrate to the cloud among some organizations

The global-cloud-manufacturing market is segmented and analyzed for demand and supply by deployment into private cloud, public cloud, and hybrid cloud. Of these, the public cloud segment is expected to hold the largest market size by the end of 2031. In a public cloud, a third-party cloud service provider delivers the storage and servers to different organizations over the internet. All the software, hardware, and other infrastructure in a public cloud are owned and operated by the cloud provider. Also, these infrastructures are shared by different organizations by accessing them through an account using a web browser. Low costs, no maintenance, infinite scalability, and high reliability are the advantages of using a public cloud. ~51% of organizations used the public cloud to store and manage their data by the end of 2020.  It has been observed that the growth in adopting public cloud services in 2021 was ~18% YOY. Further, it has been predicted that by 2026 the expenditure on the public cloud should reach ~46% of all IT spending of enterprises.

Global-Cloud-Manufacturing Market Regional Synopsis

Regionally, the global-cloud-manufacturing market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North American region is projected to hold the largest market share by the end of 2031. A significant factor leading to market growth is the progress that the manufacturing industry in the region has made. Only in 2020, manufacturing contributed towards ~25% of the total GDP of the U.S. Manufacturing industry also creates ~11% of all the jobs in the U.S.  The other factors that result in the market growth are the developments happening in North America in technologies, including cloud computing, IoT, virtualization, and more.

Market Segmentation

Our in-depth analysis of the global-cloud-manufacturing market includes the following segments:

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Key Companies Dominating the Global-Cloud-Manufacturing Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global-cloud-manufacturing market that are included in our report are Plex Systems, Inc.,  Oracle, Google, Microsoft, Salesforce, Inc., Amazon Web Services, Inc., VMware, Inc.,   Hewlett Packard Enterprise Development LP, Citrix Systems, Inc., DXC Technology Company, and others.

Global-Cloud-Manufacturing Market: Latest Developments

• August, 2022: Plex Systems, Inc. - announced being selected by ZEVx, Inc. to drive the production of its electrification solution. In the collaboration, Plex systems could be automating the manufacturing for EV platforms and Fleet Electrification. 

• April, 2022: Amazon Web Services, Inc.  - announced collaborating with Boeing to simplify Boeing's approach to cloud computing and to extend its existing cloud operations. The new and existing digital applications of Boeing are to be powered by AWS for insights capable of driving efficient operations, product innovation, and better customer support.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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