The global P&C insurance software market is growing due to increased digital transformation across industries and rising internet and mobile penetration.

WILMINGTON, DE, UNITED STATES, January 27, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, The industrial cloud market size was valued at $67.4 billion in 2021, and is estimated to reach $352.6 billion by 2031, growing at a CAGR of 18% from 2022 to 2031.

Industrial cloud computing is a broad term for cloud technology used in asset-intensive industries such as manufacturing, telecommunications, mining, construction, waste & water management, and energy generation. Moreover, automation processes in industries and the integration & use of the Internet of Things (IoT) in industrial cloud are expected to drive the global market growth. In addition, industrial cloud-based services can process, filter, and manage big data, effectively processing large amounts of information.

Download Sample Report (Get Full Insights in PDF - 354 Pages) at: https://www.alliedmarketresearch.com/request-sample/4363

Factors such as growth in demand for optimum resource utilization, increase in demand for cloud services, and upsurge in demand for cloud services due to COVID-19 pandemic are key factors driving the the industrial cloud market growth. However, rise in concerns related to data privacy and lack of IT infrastructure in underdeveloped nations hamper market growth. Furthermore, increase in adoption of cloud in SMEs provide ample growth opportunities for the industrial cloud industry growth.

Rise in demand for cloud applications aided in propelling the growth of the global industrial cloud solution during the forecast period, hence empowering the demand for industrial cloud market. Moreover, lower costs of cloud services and hyper-scaling capabilities during the period has positively impacted industrial cloud industry. However, concerns regarding data security and privacy is anticipated to hamper the industrial cloud market during the forecast period. On the contrary, the growth in demand for cloud services in SMEs is expected to offer remunerative opportunities for the expansion of the industrial cloud market forecast.

Buy Now & Get Exclusive Discount on this Report: https://www.alliedmarketresearch.com/industrial-cloud-market/purchase-options

By enterprise size, the large enterprises segment dominated the global market in 2021, and is expected to continue this trend during the forecast period as cloud computing technology offers numerous benefits for large enterprises, boosting growth of the industrial cloud market. Conversely, the small- & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period, owing to a surge in adoption of cloud-based services, as it provides cost-effective and efficient solution for SMEs.

Region-wise, the industrial cloud market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on technological solutions However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding infrastructure in the region, which is expected to fuel the growth of the industrial cloud industry in the region during the forecast period

The global industrial cloud market has witnessed stable growth during the COVID-19 pandemic, owing to the dramatically increased digital penetration during the period of COVID-19-induced lockdowns and stringent social distancing policies, which further fueled the demand for automation and cloud services. According to a report published by Unqork, in May 2021, the average spending on cloud services rose by over 37% during the first few months of the COVID-19 pandemic.

Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/4363

Moreover, with the limited workforce availability due to various social distancing policies during the pandemic, businesses further increased their cloud dependence to maintain business productivity and efficiency. Such factors propelled the growth of the global cloud-managed services market. Such factors propelled the growth of the global industrial cloud solutions market.

KEY FINDINGS OF THE STUDY

1. By end user, process manufacturing segment accounted for the largest Industrial Cloud market share in 2021.

2. By region, North America generated the highest revenue in 2021.

3. By type, SaaS segment accounted for the largest Industrial Cloud market share in 2021.

4. the public cloud segment generated the highest revenue in 2021 by cloud type.

The key players profiled in the Industrial Cloud market analysis are Alibaba Group Holding Limited, Amazon Web Services, Cisco System Inc, Dell Technologies, Google LLC, IBM Corporation, Microsoft Corporation, Honeywell Corporation, Siemens AG, Oracle Corporation, Hewlett Packard Enterprise, General Electric, Hitachi Ltd, PTC, Rockwell Automation, Crave Industry, and OptDyn. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

If you have any special requirements, Request customization: https://www.alliedmarketresearch.com/request-for-customization/4363

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.