Industrial Cloud Platform Market for Factory Automation worth 747.1 Million USD by 2022

According to a new market research report "Industrial Cloud Platform Market for Factory Automation by Solution (MES, PLM), Platform (Asset Management, Data Processing and Analytics), Professional Service (System Integration, Consulting), End-User Industry, and Geography - Global Forecast to 2022", the Factory Automation Platform as a Service market is expected to grow at a CAGR of 31.05% to reach USD 747.1 Million by 2022. Factors such as increased focus on efficiency and cost of production and advancement in cloud computing technology are driving the growth of the Factory Automation Platform as a Service.

Downlaod PDF Brochure:
https://www.marketsandmarkets.com/pdfdownload.asp?id=237673740

 

Browse 64 market data tables and 68 figures spread through 154 pages and in-depth TOC on “Industrial Cloud Platform Market for Factory Automation - Global Forecast to 2022”

The electric power generation industry is expected to grow at a higher rate in terms of market size

The market for the electric power generation industry is expected to grow at the highest rate between 2016 and 2022 owing to the adoption of new technologies such as big data, Internet of Things (IoT), and cloud computing among others to reduce the production cost and improve the connectivity.

Distributed control system (DCS) to dominate the FA PaaS market during the forecast period

The distributed control system (DCS) held the largest market size during the forecast period because of the need to upgrade the aging installed base of DCS and the demand for expanded project and engineering services.

The market in APAC is expected to grow at the highest rate during the forecast period

Investments are being made for various technological developments in the APAC region for Factory Automation Platform as a Service, which provides several growth opportunities for the market players operating in the region. For instance, in September 2016, Microsoft (U.S.) launched Azure Services, becoming the first public cloud provider in India by establishing three data centers in Mumbai, Pune, and Chennai. These local data centers would be responsible for increasing the flexibility and scalability and reducing the time to market for partners and customers.

North America is the largest market for Factory Automation Platform as a Service and is expected to witness significant growth.

Major players operating in the Factory Automation Platform as a Service market include Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Telit (U.K.), Microsoft (U.S.), PTC (U.S.), Hitachi Data Systems Corporation (Japan), Advantech Co., Ltd. (Taiwan), and IBM (U.S.), among others.

Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=237673740

 

About MarketsandMarkets

 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. 

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. 

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com