The global industrial cloud market is expected to grow at a compound annual growth rate (CAGR) of 23% between 2016 and 2020, reaching more than $52 billion, according to Technavio Research.
Industrial cloud services are designed to help the manufacturing process in the shop floor, the firm notes, and they provide an integrated platform that facilitates the deployment of numerous industrial applications designed to enhance operational visibility and industrial automation.
The Americas lead the industrial cloud market, accounting for 62% of total market share. Much of the region’s growth comes from the high adoption of advanced IT systems by the industrial manufacturing sector.
“Industrial organizations are using cloud analytical tools in key decision-making processes by drawing conclusions from historical data,” said Amit Sharma, lead analyst, ICT, at Technavio. “Cloud-based industrial analytics in industrial automation is growing at a higher rate as organizations are implementing cloud-based predictive analytical solutions to manage data generated from information systems, such as SCADA.”
This information is analyzed and interpreted with analytical tools to gain performance insights into industrial operations, Sharma said. “Of late, the cloud platforms are being designed to support machine-to-machine [M2M] and the Internet of Things [IoT], and are expanding significantly,” Sharma said.
The leading vendors in the global industrial cloud market include AWS, GE, Google, IBM, Infor, Microsoft and Siemens, according to the report.
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