Cloud computing is expanding beyond the consumer and commercial markets to include manufacturing and industrial automation in a variety of industries. The Industrial Internet of Things (IIoT) represents a significant opportunity for both centralised cloud “as a service” software, platforms, and infrastructure as well as distributed computing, where IIoT edge computing will allow the ICT industry to exploit real-time processing and analytics.
With the presence of a large pool of participants, the global cloud computing in industrial IoT market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Amazon Web Services, Inc., Microsoft Corporation, Asigra Incorporation, Carbonite Incorporation, CISCO, Cumulocity GmbH, Druva Software, DXC Technology Company, FUJITSU, General Electric, Honeywell International Inc., IBM, and Intel Corporation are some of the key vendors of cloud computing in industrial IoT across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the cloud computing in industrial IoT market study.
Citing an instance, in September 2018, Alibaba Cloud- a China-based cloud computing firm- and Intel Corporation joined hands to develop an internet of things computing platform. Reportedly, the IoT computing tool is expected to make it easy for firms to effectively carry out intensive computing tasks such as training AI and machine learning models at the network edge.
In another such instance, in October 2018, Libelium- a major players across IoT hardware sensor network industry- and Alibaba Cloud- the cloud computing division of Alibaba Group- have signed a partnership deal for delivering connectivity via Meshlium IoT Gateway. Analysts predict that the strategic move is aimed to assist firms in using former’s network tool along with Alibaba Cloud’s computing services for steering the acceptance of IoT.
As estimated in this report, the global cloud computing in industrial IoT research stood at US$ 4,680.0 million in 2016. Witnessing a tremendous rise during the period from 2017 to 2026, the revenue in this cloud computing in industrial IoT market is expected to reach US$ 46,230.0 million by the end of the forecast period. The main types available in this cloud computing in industrial IoT industry are private, public, and hybrid cloud types. Among the three, the demand for public cloud type is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Growing Popularity Of Wireless Cloud Computing Systems To Spur Growth
“Rampant use of wireless technologies and massive acceptance of cloud computing systems across the globe are the key growth drivers for cloud computing in industrial IoT research ,” says the author of this study. Apart from this, cloud computing in industrial IoT research is likely to gain traction over the years to come, owing to its prominent applications in data storage, analytics, and networking. In addition, massive use of cloud-based storage for saving data files in remote database will further impel the cloud computing in industrial IoT research size.
High deployment costs along with growing concerns over securing data privacy, however, will hinder the growth of cloud computing in industrial IoT market in the years ahead.
Massive Industrial Growth To Support North America Maintain Dominance
Regionally, North America has been leading the worldwide cloud computing in industrial IoT research and is anticipated to continue on the dominant position in the years to come, states the cloud computing in industrial IoT industry study. High industrial development along with large-scale investments in the information technology is the main factor behind the dominance of the North America cloud computing in industrial IoT research . The high number of market players being headquartered in North America is another significant factor that is supporting this regional cloud computing in industrial IoT research .