Cloud manufacturing refers to the utilization of cloud computing technologies to support the manufacturing industry, enabling the use of shared resources, services and data through an interconnected network.
Cloud manufacturing market consists of sales, by entities (organizations, sole traders or partnerships), of cloud manufacturing hardware, software and services that provide a flexible, scalable and efficient way for manufacturers to access computational tools, manufacturing resources and services over the internet, without needing to invest in large-scale infrastructure. It transforms traditional manufacturing processes by integrating hardware, software and network resources into cloud platforms, which can be accessed on-demand.
The global cloud manufacturing market was valued at $35,671.60 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 15.00%.
Increased Adoption Of AI In Manufacturing
An increased adoption of artificial intelligence (AI) in manufacturing supported the growth of the cloud manufacturing market. AI-powered technologies improve automation, predictive maintenance and real-time decision-making, all of which necessitate massive volumes of data analysis and storage. Cloud manufacturing solutions provide the necessary scalability and flexibility to handle this data, allowing firms to optimize production processes, reduce downtime and increase overall efficiency. Furthermore, AI-driven insights necessitate ongoing updates and collaboration across different systems and locations, which cloud-based infrastructure conveniently facilitates. For example, in November 2023, according to a survey of 350 manufacturers commissioned by Rootstock Software, a US-based software company focused on cloud enterprise resource planning (ERP) software, and conducted by Researchscape, a US-based agile market research consultancy, 70% of manufacturers integrated AI into their operations, with 82% planning to increase AI budgets. Automation led AI use at 60%, followed by predictive AI at 37% and generative AI at 35%. US manufacturers adopted AI-powered automation and generative AI at higher rates than those in the UK and Canada. Key benefits reported included improved efficiency (44%), enhanced productivity (42%) and increased production efficiency (29%). Therefore, increased adoption of AI in manufacturing drove the growth of the cloud manufacturing market.
Advanced Analytics And Artificial Intelligence To Drive Sustainability And Efficiency In Manufacturing Processes
Major companies in the cloud manufacturing market are leveraging advanced analytics and artificial intelligence (AI) to enhance sustainability and efficiency in manufacturing. Advanced analytics deliver insights into energy consumption, waste generation and production performance, enabling companies to implement targeted improvements. For example, in April 2024, AVEVA Group plc, a UK-based multinational information technology consulting company, expanded its CONNECT platform, enhancing its industrial intelligence capabilities with data and visualization services for hybrid Manufacturing Execution Systems (MES). This new solution allows manufacturing companies to manage production data in the cloud, improving supply chain agility through enterprise-wide visibility into distributed plant operations. Leveraging advanced analytics, AI and data visualization, companies can optimize operational performance and sustainability with valuable insights and guidance.
The global cloud manufacturing market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 22.9% of the total market in 2023.
Cloud Manufacturing Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global cloud manufacturing market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for cloud manufacturing? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The cloud manufacturing market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider cloud manufacturing market; and compares it with other markets.
The report covers the following chapters
Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by component, by deployment model, by organization size and by industry vertical.
Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the cloud manufacturing market.
Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by component, by deployment model, by organization size and by industry vertical in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
Competitive Dashboard- Briefs on competitive dashboard of major players.
Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
Conclusions And Recommendations- This section includes recommendations for cloud manufacturing providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Component: Hardware; Software; Services
2) By Deployment Model: Public Cloud; Private Cloud; Hybrid Cloud
3) By Organization Size: Small And Medium Enterprises (SMEs); Large Enterprises
4) By Industry Vertical: Aerospace And Defense; Healthcare; Semiconductor Electronics; Automotive; Metal And Machinery Manufacturing; Other Industry Verticals
Companies Mentioned: Microsoft Corporation; SAP SE; Alphabet (Google LLC); Oracle Corporation; Alibaba Group Holding Limited
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; cloud manufacturing indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Table of Contents
1 Executive Summary
1.1 Cloud Manufacturing - Market Attractiveness And Macro economic Landscape
2 Table Of Contents
3 List Of Table
4 List Of Figures
5 Report Structure
6 Market Characteristics
6.1 General Market Definition
6.2 Summary
6.3 Cloud Manufacturing Market Definition And Segmentations
6.4 Market Segmentation By Component
6.4.1 Hardware
6.4.2 Software
6.4.3 Services
6.5 Market Segmentation By Deployment Model
6.5.1 Public Cloud
6.5.2 Private Cloud
6.5.3 Hybrid Cloud
6.6 Market Segmentation By Organization Size
6.6.1 Small And Medium Enterprises (SMEs)
6.6.2 Large Enterprises
6.7 Market Segmentation By Industry Vertical
6.7.1 Aerospace And Defense
6.7.2 Healthcare
6.7.3 Semiconductor Electronics
6.7.4 Automotive
6.7.5 Metal And Machinery Manufacturing
6.7.6 Other Industry Verticals
7 Major Market Trends
7.1 Advanced Analytics And Artificial Intelligence To Drive Sustainability And Efficiency In Manufacturing Processes
7.2 Integration Of Industrial AI Innovations For Enhanced Productivity And Real-Time Decision-Making
7.3 Strategic Partnerships And Collaborations Among Major Players To Enhance Product Offerings
7.4 Centralized Platforms For Improved Transparency And Communication In The Manufacturing Process
7.5 Establishing A Solid Data Foundation For Improved Supply Chain Performance And Smart Manufacturing Initiatives
7.6 Role Of Integrated Cloud Platforms In Facilitating Digital Collaboration Across Manufacturing Sectors
7.7 Adoption Of OEM (Original Equipment Manufacturer) Programs Empowering SaaS And Cloud Providers To Offer Branded Storage Services
7.8 Focus On Machine Learning In Enhancing Data Utilization Across Manufacturing Applications
7.9 Importance Of Integrated Cloud Solutions To Support Advanced Applications In Supporting Multiple Industries