The Industrial Cloud Platform Market for Factory Automation is expected to be worth USD 747.1 Million by 2022, at a CAGR of 31.05% during the forecast period. The performance and characteristics of the industrial cloud platforms depend largely upon the platform and professional services offered. Industrial cloud platforms are adopted by several process based industries due to the ease and flexibility of services offered.

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Industrial cloud platform market for factory automation has been segmented on the basis of solution into supervisory control and data acquisition (SCADA), distributed control system (DCS), manufacturing execution system (MES), human–machine interface (HMI), and product lifecycle management (PLM), among others. The market for other solutions includes manufacturing operation management (MOM) and industrial information management (IIM). Of these, the market for manufacturing execution system (MES) is expected to grow at the highest CAGR during the forecast period because manufacturers are increasingly adopting this solution owing to its ability to save costs, for facilitate operations, and deliver high performance for production assets across the supply chain.

Industrial cloud platform market for factory automation has been segmented on the basis of platform and professional services. The platform processes high volumes of data in real time and provides meaningful analytics that are essential for achieving business objectives, which is one of the major factors driving this market. The market for platform is further segmented into asset management, remote monitoring, data processing and analytics, application development and management, and security management. The market for data processing and analytics is expected to grow at the highest CAGR during the forecast period.

Industrial cloud platform market for factory automation, on the basis of professional service, has been segmented into consulting and planning; system integration; and training, support, and maintenance. The market for consulting and planning service is expected to grow at the highest CAGR during the forecast period. The growing usage of professional services to manage industrial cloud platforms is attributed to its ability to ensure the optimization of factory automation systems as it manages the consulting, support and maintenance, and integration of the entire system.

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.

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