Industrial Cloud Market to Grow at 22.7% CAGR Driven by CAPEX to OPEX Model to 2020
The global industrial cloud market will grow exponentially over the forecast period and is anticipated to post a profound market growth rate of almost 23% by 2020.
Pune, India – March 28, 2016 /MarketersMedia/ —
According to the industrial cloud market report, the shift from capital expenditure (CAPEX) to operational expenditure (OPEX) model is the primary reason that drives the increased adoption of cloud computing solutions in several industry verticals. The key benefit of implementing cloud-based solutions is the pay-per-use pricing model. Cloud-based solutions are also flexible in terms of deployment models as cloud services are available in three deployment models: IaaS, PaaS, and SaaS.
Complete report on industrial cloud market spread across 92 pages, analyzing 7 major companies and providing 45 data exhibits is now available at http://www.reportsnreports.com/reports/514478-global-industrial-cloud-market-2016-2020.html.
The analysts forecast global industrial cloud market to grow at a CAGR of 22.7% during the period 2016-2020.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. Similarly, organizations operating in other industrial sectors (such as manufacturing and energy) are widely implementing cloud-based analytical solutions. Manufacturing industries are widely adopting data analytics to improve the performance of the manufacturing process.
The industrial cloud market research analyst has estimated factors like the advent of hybrid cloud services and cloud brokerage services to drive the prospects for growth in this market. Cloud computing and cloud-based services are gaining traction among the end users as they offer greater flexibility of application and service customization features. It also allows easy scaling of applications and services as and when required. The hybrid cloud-computing model is a mix of private and public cloud solutions, which are designed to integrate the on-premise and third-party cloud services for cloud security. In the industrial sector, hybrid cloud models provide a flexible and stable IT infrastructure that helps clients to manage IT resources for optimum utilization.
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The software as a service (SaaS) segment dominated industrial cloud market during 2015 and is anticipated to grow at a CAGR of over 20% until the end of the forecast period. Industrial SaaS models support key technologies like M2M communications, IoT, and the industrial Internet. It also helps to manage and integrate plants and industrial automation systems like the distributed control system (DCS) and supervisory control and data acquisition (SCADA).
In this market research, analysts have estimated the Americas to register a high adoption rate of advanced IT solutions during the forecast period. The prospects for market growth in this region will be impelled by the implementation of cloud computing, IoT and big data, and analytics technology in the manufacturing sector. Furthermore, with the rising utilization of predictive analytics tools and 3-D printing technology, the market for industrial cloud in the Americas will have a positive outlook until the end of 2020. According to this industry research report, the industrial cloud market in the Americas accounted for a market share of more than 62% during 2015.
The global industrial cloud market is characterized by the presence of intense competition among the large vendors. The level of competition is high among small and large organizations that provide industrial cloud solutions. Due to this market’s high growth potential, new players will enter this market by providing industry-specific cloud solutions.
Key players in the global industrial cloud market: Amazon Web Services (AWS) Inc., GE Co., Google Inc., IBM Corp., Infor Inc., Microsoft Corp., and Siemens AG.
Other prominent vendors in the market are: Epicor Software, Oracle, Prevas, QAD, Rackspace, Red Hat, Rockwell Automation, Salesforce.com, SAP, Schneider Electric, and VMware.
Further, the industrial cloud market report states that data privacy and security risks remain major barriers to the widespread use of cloud-services in organizations, especially the public cloud.
Another related report is Global Cloud Analytics Market 2016-2020, the market research analysts predict the cloud analytics market to grow at a CAGR of approximately 21% until 2020. Browse complete report @ http://www.reportsnreports.com/reports/451937-global-cloud-analytics-market-2016-2020.html.
Key players in the global cloud analytics market: HP, IBM, Microsoft, Oracle and SAP
Other prominent vendors in the market are: Actuate, Adaptive Insights, BIME, Birst, Cloud9, Exafort, GoodData, Google, Host Analytics, Indicee, Infor, Informatica, Information Builders, Jaspersoft, Kognitio, MicroStrategy, Newvem, Panorama Software, PivotLink, Qlik Technologies, Rackspace Hosting, Razorsight, SAS Institute, Tableau Software, Teradata, Tibco Software, and VMware.
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