Cloud computing can deliver numerous advantages for the manufacturing industry and the global spending on Cloud Enterprise Resource Planning software has also been predicted to increase from USD19.1 billion in 2017 to USD28.8 billion by 2028.
In today’s Industry 4.0 ambience, manufacturers are making use of automation and industrial IoT on a daily basis and the concept of “cloud computing” is no longer an option but a necessity to keep things rolling in an industry set-up. A report by the American Enterprise Institute on “How Cloud Computing Enables Modern Manufacturing” states that over 90% of global companies use cloud computing in some part of their business.
Cloud computing: A big business
The business opportunity in cloud computing is immense. This thought can be seconded by a report by global research firm Gartner . The report estimates that (what it refers to as) “cloud shift” transition – the transition from spending on traditional IT offerings to cloud services – will grow to more than USD216 billion in 2020. In addition to this, market research company, Statista reports that global spending on Cloud Enterprise Resource Planning (ERP) software is predicted to increase from USD19.1 billion in 2017 to USD28.8 billion in 2028, attaining a CAGR of 7%.
Benefits of cloud computing in manufacturing
Manufacturers, which have already incorporated the “cloud computing” concept into their factories, are elated with its multiple benefits including speeding up time-to-market, accuracy in manufacturing operations, ability to meet customer demands, and playing a vital role in developing new product introductions. Also, cloud computing will change the manner in which products are researched, designed, and developed, to how they are fabricated and manufactured, to how they are used by customers in the field.
Another key advantage of how cloud computing will change the dynamics of modern manufacturing is by facilitating integration and the concept is also equipped to make manufacturing IT systems more secure. How is this possible? Well this is because cloud-computing providers employ the best cyber security practices that are more refined and complex. Some of the leading cloud computing service providers include IBM Cloud, Oracle Cloud, SAP, Microsoft Azure, Amazon Web Service, Google Cloud, etc.
Exploring cloud computing at SPS IPC Drives
The latest market trends and innovations in the cloud computing industry can be explored at the SPS IPC Drives 2018 exhibition. The smart and digital automation trade fair will exhibit the most recent cutting-edge solutions and visitors can also interact with industry leaders on the current market situation for the growing cloud computing industry. The show will be held in Nuremberg, Germany and will also highlight diverse other subjects such as industrial web services, virtual product development and design, digital business platforms, IT/OT technologies, fog/edge, etc.
Cloud computing is the next big phenomenon that industry players are adopting in order to survive the global manufacturing competition. If you still haven’t made your transition to cloud computing, the time is now!
This article first appeared on www.maschinenmarkt.international.