The industrial cloud provides an infrastructure solution so that it becomes easier to transmit data for applications mainly used on computers and mobile devices. With the industrial cloud, organizations can easily capture more data and use it to manage overall operations and assets strategically. Industrial cloud technology is widely used in asset-intensive industries such as manufacturing, transportation, mining, food & beverages, automotive, and energy generation/distribution.

The global industrial cloud market size is expected to grow from USD XX million in 2022 to USD XX million by 2028, at a CAGR of XX%. The key factors boosting market growth are the increasing demand for resource utilization and the growing demand for cloud services in various processes and discrete industries.

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Drivers: Rising adoption of the cloud by small and medium-sized enterprises
For small and medium-sized enterprises (SMEs), the industrial cloud provides a smarter and leaner technology option that helps to limit cost and increase productivity multiple times. In addition, the cloud offers many benefits to SMEs, such as reduced downtime, improved data security, CRM management, flexible storage, resource optimization, and remote computing. For instance, cloud technology helps increase the company's data security levels. Moreover, an additional advantage of this cloud technology is that the data is always backed-up.

Cloud storage offers convenience to employees
With the growing advancements and technological developments, businesses and the workforce are now becoming more mobile in nature. In companies, employees need to access and share files when working outside the office. And owing to the cloud-based storage facility, users can easily access the files wherever they are located.

Challenges: Lack of expertise or resources
One of the most critical challenges with the cloud is that companies currently face a risk of resource and expertise crunch. With the growing adoption trend of cloud technology, various companies are increasingly placing more workloads on the system. Cloud technology will continue to advance in the coming years rapidly. Because of these factors, companies face a tough time keeping up with the tools, and the need for expertise is also growing continuously. In addition, these challenges can be minimized by providing additional training to IT and development staff.

Key Market Players:
Amazon Web Services, Inc. (US), Cisco Systems, Inc. (US), Dell Inc. (US), Google (US), IBM (US), Microsoft (US), Honeywell International Inc. (US), and Siemens (Germany ) are few key players in the industrial cloud market globally.

In June 2022, Cisco Systems, Inc. launched AppDynamics Cloud, a cloud-native observability platform mainly used for modern applications based on increasingly complex, distributed architectures and services.

In December 2021, Amazon launched AWS GovCloud (US) Regions. This expansion into the AWS GovCloud (US) Regions helps US government agencies and contractors transfer their sensitive workloads onto AWS Outposts to meet their regulatory and compliance requirements for object storage.

In October 2021, Alibaba Co., Ltd. launched a new server chip to boost its cloud computing business. Alibaba Co., Ltd.’s cloud computing clients will be able to buy services based on the latest technology. These servers are designed for artificial intelligence applications and storage.