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Cloud-based Manufacturing Market: Key Players and Driving Factors Analysis

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Cloud-based Manufacturing Market

Global Cloud-based Manufacturing Market: Introduction

Cloud-based manufacturing is a process of utilizing well-established manufacturing resources, such as Enterprise Resource Planning (ERP), through the cloud. Cloud-based manufacturing also reduces capital expenditure because cloud computing eliminates some major, long-term costs that occur in legacy ERPs. It also smoothens the process by automating communication between manufacturing and accounting.

Global Cloud-based Manufacturing Market – Dynamics

Cost Competition

Competition among players operating in the global manufacturing sector has increased. Cost and production efficiency is the key to penetrate the market, specifically in Asia Pacific, due to price-conscious consumer behavior. The need to offer products at competitive pricing has increased across industries, with China being the world-leading manufacturer of inexpensive products. Cloud-based manufacturing is playing a key role in eliminating the major capital expenditure for automated workflow management in order to reduce the overall cost of manufacturing.

Increasing Demand for Automation in Manufacturing Process among SMEs

In the competitive market scenario, SMEs are adopting automation in their business processes. Small & medium enterprises (SMEs), specifically those in North America and Europe, are adopting cloud-based manufacturing so as to become more competitive in their price offering.

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System Infrastructure and System Downtime Hampering the Global Cloud-based Manufacturing Market

Incorporation of cloud-based manufacturing in the manufacturing process leads to increase in system downtime. This can hamper the global cloud-based manufacturing market during the short-term forecast period. In several countries of Asia Pacific, production systems are not compatible with cloud-based manufacturing. This can increase the cost incurred by the manufacturer for deployment of compatible systems in the organization.

North America to Dominate the Global Cloud-based Manufacturing Market

In terms of region, the global cloud-based manufacturing market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global cloud-based manufacturing market during the forecast period, as adoption of cloud-based technologies by SMEs and large enterprises is higher in this region compared to other regions.

COVID-19 Impact on the Global Cloud-based Manufacturing Market

The COVID-19 pandemic is expected to adversely impact the global cloud-based manufacturing market for a short-term period. This is attributed to lockdown in countries of Europe, North America, and Asia Pacific regions, which hold 75%–85% share of the global manufacturing industry as well as the global cloud-based manufacturing market. The major usage of cloud-based manufacturing can be seen in different industries. With the shutdown of manufacturing units across the globe, the pandemic is projected to hamper the cloud-based manufacturing software market for the next 1–2 years.

Global Cloud-based Manufacturing Market – Competition Landscape

Vention

Established in 2016, Vention is headquartered in Montreal, Canada. Vention helps some of the most innovative manufacturers automate their production floors in just a few days. Vention’s online-first manufacturing automation platform lets clients design, program, order, and commission automated equipment directly from their web browsers. Vention manufacturing software is used in over 1,000 factories in three continents.

Global Cloud-based Manufacturing Market: Segmentation

The global cloud-based manufacturing market can be segmented based on:

Global Cloud-based Manufacturing Market, by Deployment

Based on deployment, the global cloud-based manufacturing market can be divided into:

Global Cloud-based Manufacturing Market, by Industry

In terms of industry, the global cloud-based manufacturing market can be segregated into:

Regional analysis of the global cloud-based manufacturing market includes:

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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