The growth of the Factory Automation Platform as a Service market is driven by various factors such as increased focus of companies on efficiency, resource optimization, and cost of production by increasing production efficiency and the advancements in cloud computing technology.
The Factory Automation Platform as a Service market was valued at USD 121.2 Million in 2015 and is expected to reach USD 747.1 Million by 2022, at a CAGR of 31.05% during the forecast period. The market is further driven by the growing adoption of modern technologies by various end-user industries, especially in the emerging economies of the Middle East and Asia-Pacific regions, to increase their productivity and strengthen their competitive position in the market. The market in APAC region is expected to grow at the highest CAGR during the forecast period. North America is one of the top contributors to this market, and is expected to grow due to the rapid adoption of cloud and the increasing adoption of factory automation, which is attracting vendors to bring new solutions to cater to the needs of end users.
Some of the major companies operating in the Factory Automation Platform as a Service market are 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.
Top 2 Players in the Factory Automation Platform as a Service Market:
General Electric (U.S.) is an industrial equipment manufacturer with presence in a wide range of sectors including energy, oil and gas, metals and mining, manufacturing, aviation, transportation, and water and wastewater management. Its expertise in all these sectors helps it to develop software solutions for predictive maintenance based on its Predix platform which offers asset performance management (APM), brilliant manufacturing, cyber security, HMI, and SCADA, among others. In August 2015, GE announced plans to enter the cloud services market with Predix Cloud. Predix is an operating system and platform for building applications that connect to industrial assets, collect and analyze data, and deliver real-time insights for optimizing industrial infrastructure and operations. GE’s entry into the software market with Predix enabled it to position itself as a leading player in the Factory Automation Platform as a Service market.
Siemens AG (Germany) is a provider of solutions related to electrification, automation, and digitalization. The company is known for its automation and control offerings, serving the increasing needs of automation among end users. In March 2016, the company introduced MindSphere, a cloud-based platform for industrial automation. MindSphere has been designed as an open ecosystem to optimize plant performance by collecting and analyzing large datasets in industry. MindSphere also forms the basis for applications and data-based services from Siemens such as for the predictive maintenance of machine tools (Machine Tool Analytics) or integrated drive systems (Drive Train Analytics).
The stakeholders involved in the value chain of this market include original equipment manufacturers (OEMs); automation software solutions providers; data analytics and cloud platform providers; service providers; government associations and organizations such as Singapore Industrial Automation Association (SIAA) and Industrial Internet Consortium (IIC) related to factory automation; end users of Factory Automation Platform as a Service across various industries such as electric power generation, paper and pulp, metals and mining, and oil and gas, among others; application developers and aggregators; and machine-to-machine (M2M), IoT, and telecommunications companies.
Factory Automation Platform as a Service Market 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
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