Home > Media & Technology > Information Technology > Cloud Computing > Industrial Cloud Platform Market

Industrial Cloud Platform Market Share

Report ID: GMI9450
Published Date: May 2024
Report Format: PDF

Download Free Sample

Industrial Cloud Platform Market Share

IBM Corporation and Microsoft Corporation hold a significant share of over 25% in the market. IBM Corporation and Microsoft Corporation stand out as key players, each leveraging their strengths to offer comprehensive solutions tailored to the needs of industrial enterprises. IBM's cloud platform, IBM Cloud, integrates advanced capabilities such as AI and analytics through offerings like the Watson IoT platform, enabling predictive maintenance and operational optimization.

Meanwhile, Microsoft's Azure platform provides a robust ecosystem for industrial IoT applications, emphasizing integration and hybrid cloud deployments. Both companies prioritize security, reliability, and industry-specific expertise, empowering organizations to harness the power of cloud technologies for digital transformation and operational excellence in the industrial sector.

Some other major players in the market are Schneider Electric SE, Siemens AG, General Electric Company, Google LLC, Honeywell International Inc.

Industrial Cloud Platform Market Companies

Major players operating in the industrial cloud platform industry are:

IBM Corporation
Microsoft Corporation
Schneider Electric SE
Siemens AG
General Electric Company
Google LLC
Honeywell International Inc.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Industrial cloud platform industry size exceeded USD 68.5 billion in 2023 and is projected to expand at over 17.5% CAGR from 2024 to 2032, due to the growing adoption of IIoT solutions, and the rising need for remote monitoring and management capabilities.

The infrastructure as a service (IaaS) platform type segment in the industrial cloud platform industry is expected to depict over 17.6% CAGR between 2024 and 2032, owing to the demand for scalable and efficient cloud infrastructure for storage, processing, and analysis.

The asset performance management application segment in the industrial cloud platform industry accounted over 33% revenue share in 2023 led by their ability to leverage data analytics, machine learning, and predictive maintenance techniques to improve asset reliability and reduce downtime.

North America industrial cloud platform industry recorded over 38% share in 2023 and is estimated to expand at noticeable rate through 2032, due to the adoption of Industry 4.0 technologies and the surging demand for digital transformation across various sectors.