Growing Adoption of Industry 4.0 to Escalate the Growth of Cloud Computing in Industrial IoT Market

Cloud Computing In Industrial IoT Market

Every day with effective additions, technology is sprawling. Internet of things (IoT) and cloud computing are counted among the two closely associated internet technologies in which one supports the success of the other by providing an efficient platform for working. Cloud computing helps IoT to give logic to the large volume of data generated.

The number of IoT devices is been doubled over the last few years and the installed base is expected to reach above 75 billion by 2025. Currently, in America and Europe, over 40% of the industries have some connected elements. IoT needs cloud computing to provide geographic coverage for monitoring, centralized management, and resource sharing. This has exponentially led to significant growth in global cloud computing in industrial IoT market. In addition to this, factors such as growing adoption of industry 4.0, increase in penetration of IoT in various industries, and the ability of cloud computing to store big data that can be easily accessed by IoT companies are fueling the growth of the global market. Moreover, benefits such as scalable infrastructure capacity, increased efficiency in daily tasks, advancement on analysis and review of the status of connected IoT devices have led to an increase in adoption of cloud computing in industrial IoT solutions which in turn is fostering the growth of the global market. Furthermore, expanding customer base with the launch of technologically advanced products may offer several growth opportunities for the global market during the forecast period.

The global cloud computing in industrial IoT market is categorized based on sensor type, cloud type, model, end-users, and region. Temperature sensors, pressure sensors, optical sensors, proximity sensor, and others are the sensor types in the global market. The cloud type segment is divided into hybrid, public, and private. The model segment consists of Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Software as a Service (SaaS). The end-user segment constitutes manufacturing, energy, transportation, oil & gas, healthcare, and others.

North America is anticipated to contribute to the largest share in the global cloud computing in industrial IoT market over the forecast period. Factors such as growing adoption of IoT-based technology, presence of state-of-the-art IT infrastructure, and heavy investments in the development of technologically advanced IT solutions are driving the growth of the market in this region. Asia Pacific is expected to be the fastest-growing region and this is attributable to increase in adoption of industry 4.0, and rise in use of SaaS in manufacturing industries.

Some of the prominent players in the global cloud computing in industrial IoT market are Microsoft Corporation, Druva Software, Cumulocity GmBH, CISCO, Carbonite, Inc., Asigra Inc., Amazon Web Services, Inc., Intel Corporation, and FUJITSU.

In July 2020, Volkswagen, along with Amazon Web Services (AWS) and integration partner Siemens, opened the Industrial Cloud to other technology and manufacturing companies. The system is based on AWS technologies in the fields of computing services, data analytics, machine learning, and Internet of Things (IoT).