By 2022, it is anticipated that the Industrial Cloud Platform Market will grow at a CAGR of 31.05% and reach USD 747.1 Million. The rise of the Factory Automation Platform as a Service is being driven by elements including a greater emphasis on productivity and cost-of-production, as well as improvements in cloud computing technologies.

In terms of market size, the electric power generation business is anticipated to grow more quickly.

Due to the use of new technologies like big data, the Internet of Things (IoT), and cloud computing to lower production costs and enhance connectivity, the market for the electric power generating industry is anticipated to develop at the fastest rate between 2016 and 2022.

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During the anticipated term, distributed control system (DCS) will rule the FA PaaS market.

Due to the necessity to upgrade the DCS installed base that is getting older and the desire for expanded project and engineering services, the distributed control system (DCS) held the greatest market size over the forecast period.

During the projected period, the market in APAC is anticipated to develop at the fastest rate.

For Factory Automation Platform as a Service, investments are being made in the APAC area, which offers multiple prospects for market players there to grow their businesses. For instance, Microsoft (U.S.) introduced Azure Services in September 2016, becoming the country's first public cloud provider by setting up three data centres in Mumbai, Pune, and Chennai. These neighbourhood data centres would be in charge of enhancing flexibility and scalability, as well as decreasing time to market for partners and clients.

Industrial Cloud Platform's biggest market, which is predicted to increase significantly, is North America.

Siemens AG (Germany), General Electric (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.).

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