Factory Automation Platform as a Service Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Platform as a service is the term given to the collection of services and solutions that make use of cloud computing services in order to create a platform for clients and users to manage, run, and develop relevant applications while forgoing the extremely complicated task of creating and maintaining the required infrastructure. Platforms as a service, or PaaS, are commonly segregated into public and private services. Public PaaS solutions are where the provider only handles the networking and database management, while the user takes care of the software deployment. Private PaaS solutions can be more expensive but allow a greater degree of freedom for the user. Using platform as a service holds several advantages, including the scope of a user handling increasingly complex functions through the use of cloud based infrastructure, and for multiple users who are functioning from various locations.
The overall markets for factory automation are gaining steam as a swift pace, thanks to the extensive demand for these service, as well as the growing market standardization, which will make it easier on players looking to expand their business profile in multiple regions. These services are usually out through the perspectives of being end to end as well as top to bottom. Most of the environments in the factory automation scenario are directly linked to the number of devices being automated.
The global factory automation platform as a service market is poised to tread along a healthy growth track in the forthcoming years. Factory automation platform as a service provides connectivity among cloud and factory, security resources, and data analytics platform. It facilitates factory automation application development and offers solutions and services to factory operators and factory owners by just developing core logic of each application. It is used across a large number of industries such as oil and gas, chemicals, food and beverages, pharmaceutical, paper and pulp, and water and wastewater management.
The research report on the global factory automation platform as a service market offers a thorough overview, focusing on the market dynamics that are anticipated to impact the growth of the overall market and its affiliated industries. With the help of tools such as Porter’s five force analysis and market attractiveness analysis, the study highlights the growth factors, opportunities, current trends, and limitations in the market. It profiles prominent players in the market along with their business strategies, market shares, contact information, revenue generation, and latest developments.
Amid the intense competition in the manufacturing industry across the world, there is a dire need for systems promoting rapid product development, resource optimization, shorter lead times, and quality lead times. Therefore, the growing emphasis on energy efficiency, minimum cost of production, and resource optimization is translating into the greater uptake of factory automation platform as a service. Moreover, the advancements in the cloud computing technology are fuelling the market.
On the other hand, the operation of factory automation platform as a service requires high technical acumen and thus, the dearth of skilled workforce is inhibiting the growth of the market. Furthermore, the issues related to data security and privacy are challenging the growth of the market. However, the emergence of the concept of Industry 4.0 is opening new avenues for players in the market.
The regional markets covered in the research report are North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific will command a substantial share in the market throughout the forecast period. The increasing investments by private and public organizations for technological advancements in the field of factory automation platform as a service are creating phenomenal growth opportunities for the growth of the region. The establishment of local data centers by large international players is also providing a push to the growth of the region.
Moreover, the availability of cheap and skilled workforce, improving infrastructure and technological capabilities, and favorable government initiatives are augmenting the market in Asia Pacific. Developing countries such as Indonesia, South Korea, and Singapore are sites of high growth in the region owing to the rising adoption of cloud technology. North America is estimated to progress at a noteworthy CAGR during the same span.
The majority of the players in the global factory automation platform as a service market are focusing on the development of new products to attain inorganic growth in the global factory automation platform as a service market. Partnerships and acquisitions are also among the commonly adopted strategies by prominent players to boost their offerings in the market. Some of the prominent players in the market are Schneider Electric SE, General Electric Company, Siemens AG, Rockwell Automation Inc., Honeywell International Inc., Microsoft, Hitachi Data Systems Corporation, and IBM.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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