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Industrial Cloud Platforms Revenue Will Exceed US$300 Billion by 2033 as Manufacturers Look to Effectively Utilize Data as a Resource

PRNewswire August 16, 2023

NEW YORK, Aug. 16, 2023 /PRNewswire/ — Total industrial cloud platform revenue in manufacturing will surpass US$300 billion by 2033 with a┬áCAGR of 22.57%, driven by solution providers enhancing platform operability while expanding partner ecosystems for application development. ABI Research, a global technology intelligence firm, found the cloud manufacturing market will grow over the next decade due to the adoption of new architectural frameworks that enhance data extraction and operability for manufacturers looking to maximize utility from their data.

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“Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers. The large initial upfront cost of purchasing, setting up, and maintaining these servers is a selling point for cloud manufacturing providers who beat them out in costs. With low data storage prices, manufacturers who make the switch to a cloud-based system can see up to 60% reduction in overhead costs relating to data storage,” explains James Iversen, Industrial & Manufacturing Technologies Industry Analyst at ABI Research. For manufacturers who have outsourced their data storage to an external data warehouse provider, other problems arise. According to Iversen, “External Data Warehouses are prone to data fragmentation and duplication, along with creating data siloes where critical datasets sit independent of one another, not collaborating to produce new KPIs. Cloud manufacturing providers are eliminating these concerns by interconnecting applications bi-directionally, leading to sharing and communication between applications and their data.”

In this report, ABI Research examined revenue, market share, application offerings, and recent updates of the hyperscalers AWS, Microsoft, and Google, along with other key industry players, Alibaba, IBM, SAP, Tencent, and Oracle, to complete a full analysis of the cloud manufacturing market. Looking at the position of the hyperscalers, AWS and Microsoft provide comparable offerings and together represent 2/3 of market revenue in 2022 together. “Both have comparable payment options, data pricing (Microsoft narrowly beats out AWS), and application offerings where AWS holds the advantage. AWS has slowly nudged away from Microsoft due to having an existing reputation as a dominant cloud service provider while also offering the most comprehensive suite of applications tailored to data ingestion, contextualization, and analysis. Google has been playing catch up to the other hyperscalers from a technological standpoint with their new updates (Data Engine and Connect Edge) already having counterparts at AWS and Microsoft, hindering their market share in comparison,” Iversen says.

New 2023 updates from AWS and Microsoft support this trend as comparable architectural structures “fabric” were released on their platforms for enhanced data connection, operability, and communication between applications. “Two key domains which are seeing significant investments are data packaging in the edge prior to uploading to the cloud and low/no code pipelines with reduced latency. Look to see Google, Alibaba, IBM, SAP, Tencent, and Oracle follow in step with these developments, advancing their solution offerings in these areas,” Iversen concludes.┬á

These findings are from ABI Research’s The Industrial Cloud: Data, Applications, and the Horsepower for the Modern Industrial Factory┬áapplication analysis report.┬áThis report is part of the company’s┬áIndustrial and Manufacturing Technologies┬áresearch service, which includes research, data, and ABI Insights.┬áBased on extensive primary interviews, Application Analysis┬áreports present in-depth analysis on key market trends and factors for a specific application, which could focus on an individual market or geography.

About ABI Research

ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.

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For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit┬áwww.abiresearch.com.

Contact Info: 

Deborah Petrara
Tel: +1.516.624.2558

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