New York, NY, July 03, 2018 (GLOBE NEWSWIRE) -- The new report by Zion Market Research on the “Cloud Computing In Industrial IoT Market by Model (Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)), by Cloud Type (Private, Public, and Hybrid), by Sensor Type (Temperature Sensors, Proximity Sensor, Optical Sensors, Pressure Sensors, and Others (Sound Sensors and Gyroscopic Sensors)), and by End Users (Manufacturing, Healthcare, Oil and Gas, Transportation, Energy, and Others (Mining, Logistics, and Agriculture)): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2026’’ has a vast information about the market and its potential.
The global cloud computing in industrial IoT market was valued at around USD 4,680.0 million in the year 2016 and it is expected to reach approximately USD 46,230.0 million by 2026. The global cloud computing in industrial IoT market is expected to exhibit a CAGR of more than 25.9% between 2017 and 2026.
Browse through 113 Tables & 38 Figures spread over 110 Pages and in-depth TOC on "Global Cloud Computing In Industrial IoT Market Size 2017: Industry Share, Trends, and Forecast, 2026”.
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Market Report Highlights:
- Software as a Service (SaaS) dominated the model segment in global cloud computing in industrial IoT market throughout the forecast period, as the SaaS offerings are easy to use since they already come with best practices and samples inside it.
- Emerging economies such as China, India, and Brazil are expected to experience a significant market growth owing to escalating IT industry and the adoption of advancing technologies.
- Increasing concerns regarding security and privacy and rising number of cyber-attacks, spam emails, and rising hacking activities may act as restraints for the cloud computing in industrial IoT market.
- Increasing amount of data across the globe is creating the need for deployment of cloud technology.
- By cloud type, the public segment dominates the market during the forecast period. Low cost of public cloud services and inherent flexibility in cloud computing by the service providers will boost the growth of segment over the forecast period.
- The increase in demand for consumer electronics product such as smart TV, smartphones, smartwatches, and many other smart products will fuel the growth of the sensor segment.
- By end-users, manufacturing segment dominates the cloud computing in industrial IoT market during the forecast period. Increasing implementation of IoT in manufacturing for obtaining control over the operations and supply chain process is expected to drive this segment over the forecast period.
- The Asia Pacific held the dominant position in the global cloud computing in industrial IoT market with more than 39% share in 2017. Increased demand for automation and high adoption rate of cloud computing in industrial IoT market will boost the market in the region. Furthermore, the region is expected to grow at highest CAGR during the forecast period.
- North America held the second largest share in 2016 for global cloud computing in industrial IoT market. In terms of revenue, the U.S. is expected to dominate North America cloud computing in industrial IoT market, owing to the high industrial development and rising investments in the information technology industry sector.
- Brazil is expected to dominate the Latin America cloud computing in industrial IoT market, owing to developing IT sector in the country and increasing demand for automation processes.
- Slow economic growth, underdeveloped IT domain, and lower access to technological advancement in the Middle East & Africa region is expected to limit the growth of the market in this region.
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According to the analysts and insights shared by industry experts during primary research, the emergence of the internet of things (IoT), integrated connectivity, high adoption of advanced technology, and increase in penetration of cloud computing in industrial IoT will boost the growth of market across the globe. The Software as a Service (SaaS) segment will serve as a prominent growth platform for cloud computing in industrial IoT market owing to the high number of installation and easy access of software with wide range of advantages in professional services.
Cloud computing has become an essential part of enterprises due to the services it offers that helps to connect the world digitally. Increasing adoption of wireless networking technology across the globe will propel the growth of the market. Wireless devices have been increased from 40% to 70% over the last four years. Rising demand for cloud computing due to its flexible nature, automatic software update, disaster recovery, free capital expenditure, security will propel the growth of global cloud computing in industrial IoT market during the forecast period.
Browse the full "Cloud Computing In Industrial IoT Market by Model (Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)), by Cloud Type (Private, Public, and Hybrid), by Sensor Type (Temperature Sensors, Proximity Sensor, Optical Sensors, Pressure Sensors, and Others (Sound Sensors and Gyroscopic Sensors)), and by End Users (Manufacturing, Healthcare, Oil and Gas, Transportation, Energy, and Others (Mining, Logistics, and Agriculture)), Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026" report at https://www.zionmarketresearch.com/report/cloud-computing-industrial-iot-market
Based on the model type, the cloud computing in industrial IoT market is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). The Software as a Service (SaaS) accounted for the major share of global cloud computing in industrial IoT market. Cloud computing is a way to store data virtually and thus data can be assessed anywhere at any time. Increasing data breach cases across the globe are expected to create the need for adopting SaaS security into the enterprises. SaaS security protects emails, employee identity, data, and network. In July 2017, Equifax’s (largest credit bureaus in the U.S.,) consumer data has been breached which includes personal information of 145 million consumers. In 2013–2014 Yahoo also faced the same problem of data breaching. Thus, large enterprises are adopting SaaS security very rapidly for protecting all kind of data, hence the Software as a Service (SaaS) is expected to contribute for the largest market share throughout the forecast period.
The market for cloud computing in industrial IoT is segmented by different cloud type i.e. public, private, and hybrid. The public segment had a leading share in 2017, and the segment is expected to grow at a significant CAGR during the forecast period. The public cloud type is publicly accessible, as it is owned and operated by a third-party cloud provider, which delivers their computing resources like servers and storage over the internet.
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Sensors are the troops of the IoT industry as they bring more connectivity and analytics to the supply chain. Others (Sound Sensors, Gyroscopic Sensors & Others) segment will hold the major share in global cloud computing in industrial IoT market by sensor type owing to high demand for IoT sensors in all electronic devices and the rising industrial IoT market will strongly drive the growth of the IoT sensors segment in cloud computing in industrial IoT market.
The cloud computing in industrial IoT market is growing at a rapid rate in the developed regions. North America region is expected to dominate the cloud computing in industrial IoT market over the forecast period. Whereas Asia Pacific is having a significant share in the cloud computing in industrial IoT market and is anticipated to grow at the highest CAGR. Owing to the rising industrial developments and increasing small and medium-sized companies in developing nations like India the cloud computing in industrial IoT market in Asia Pacific region is growing.
The major market players in the cloud computing in industrial IoT market are Amazon Web Services, Inc., Asigra Inc., Carbonite, Inc., CISCO, Cumulocity GmBH, Druva Software, DXC Technology Company, FUJITSU, General Electric, Honeywell International Inc., IBM, Intel Corporation, Iron Mountain Incorporated, IROOTECH, LosantIoT, Inc., and Microsoft Corporation, among others.
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The global cloud computing in industrial IoT market is segmented on the basis of the model, cloud type, sensor type, end-users, and the geographical regions.
Global Cloud Computing In Industrial IoT Market: Model Segment Analysis
- Software as a Service (SaaS)
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
Global Cloud Computing In Industrial IoT Market: Cloud Type Segment Analysis
- Private
- Public
- Hybrid
Global Cloud Computing In Industrial IoT Market: Sensor Type Segment Analysis
- Temperature Sensors
- Proximity Sensor
- Optical Sensors
- Pressure Sensors
- Others (Sound Sensors, Gyroscopic Sensors)
Global Cloud Computing In Industrial IoT Market: End-users Segment Analysis
- Manufacturing
- Healthcare
- Oil and Gas
- Transportation
- Energy
- Others (Mining, Logistics, Agriculture)
Global Cloud Computing In Industrial IoT Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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