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Industrial Cloud Platform Market experiences a significant surge at a CAGR of 32.3% from 2023 to 2030, According to Reports Insights Industrial Cloud Platform Market is experiencing rapid growth due to Industrial cloud platforms are a key enabler of Industry 4.0, as they provide a secure and scalable platform for storing, processing, and analyzing data from connected devices. Key players in this growth include IBM, Amazon Web Services, Inc., Google Cloud, Salesforce, Inc., Oracle, SAP, GE DIGITAL, Bosch Global Software Technologies Private Limited, ABB, Rockwell Automation
The industrial cloud platform market is expected to grow rapidly in the due to the growing adoption of Industry 4.0, the increased demand for real-time data insights, the need for cost-effective and scalable solutions, regulatory compliance requirements, and the growing demand from emerging economies. Industrial cloud platforms are a type of cloud computing platform that is specifically designed for industrial applications. They offer a secure and scalable platform for storing, processing, and analyzing data from connected devices.
The industrial cloud platform market is segmented by solution, platform, and end-user industry. The solution segment is further divided into software and services. The software segment is expected to grow at a faster rate than the services segment, due to the increasing demand for pre-configured and ready-to-use software solutions.
The platform segment is further divided into public, private, and hybrid. The public platform segment is expected to grow at the fastest rate, due to the low cost of entry and the ease of use. The private platform segment is expected to grow at a slower rate, due to the high cost of implementation and maintenance.
Industrial Cloud Platform Market Growth Drivers:
- The increasing adoption of Industry 4.0: Industry 4.0 is the fourth industrial revolution, which is characterized by the use of advanced technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) to automate and digitize manufacturing processes.
- The need for real-time data insights: Industrial cloud platforms can help companies collect and analyze data from connected devices in real time, which can be used to improve decision-making, optimize production processes, and prevent downtime.
- The need for cost-effective and scalable solutions: This is important for industrial companies, which often have large amounts of data to manage.
- Security concerns: Industrial cloud platforms need to be highly secure in order to address these concerns.
- Lack of standards: There are currently no industry standards for industrial cloud platforms. This can make it difficult for companies to choose the right platform for their needs.
- High costs: This could limit the adoption of industrial cloud platforms in some markets.
Industrial Cloud Platform Market Segmentation Details:
By component: The industrial cloud platform market is segmented into software and services. The software segment is further divided into platform software and application software. The platform software segment includes solutions for managing and securing data, applications, and devices.
The application software segment includes solutions for specific industrial applications such as manufacturing, energy, and transportation.
By service: The industrial cloud platform market is segmented into professional services and managed services.
Professional services include services such as consulting, integration, and training. Managed services include services such as monitoring, maintenance, and support.
By application: The industrial cloud platform market is segmented into manufacturing, energy, transportation, and others. The manufacturing segment is the largest segment of the industrial cloud platform market. This is due to the large amount of data generated by connected devices in manufacturing plants.
The energy segment is the second largest segment of the industrial cloud platform market. This is due to the need for real-time data insights to optimize energy production and consumption. The transportation segment is the third largest segment of the industrial cloud platform market. This is due to the need for real-time data insights to improve fleet management and optimize transportation routes.
The end-user industry segment is further divided into manufacturing, energy, transportation, and others. The manufacturing segment is expected to be the largest market for industrial cloud platforms, due to the large amount of data generated by connected devices in manufacturing plants.
Stratview Research delivers key insights on the Cloud security Market. According to Stratview Research, the market is segmented by Application (Financial Services, IT and telecom, Government, Education, Healthcare, Media, and entertainment, Others), Deployment (Public, Private, Hybrid), Organization Size (Small and Medium Enterprise (SME), Large enterprise) and Region (North America, Europe, Asia Pacific & rest of the World).
The report suggests that the overall global cloud security market is estimated to grow from USD 39.03 billion in 2022 and is likely to grow at a CAGR of 13.70% during 2023-2028 to reach USD 84.77 billion by 2028.
Forbes states that, by 2020, 83% of the company workload will be held on the cloud. To neutralize the constantly changing threat scenario, major cloud providers like Amazon and Google heavily invest in upgrading their cloud security capabilities. Due to the COVID-19 pandemic, demand for cloud-based services has increased significantly. The outbreak of the pandemic forced enterprises to adopt cloud services to a huge extent due to work-from-home scenarios worldwide.
During the pandemic, Microsoft reported a 775% increase in demand for its cloud service platform. Additionally, managed services are becoming more popular among SMEs as a result of their inability to effectively manage cloud services in-house.
Inadequate knowledge: Businesses often have inadequate knowledge of potential security risks in cloud computing, leading to overlooking the shared responsibility model and assuming cloud service providers are responsible for all security aspects.
Complicated process: Cloud computing's complexity challenges organizations in addressing security threats and vulnerabilities, making it challenging to implement and manage effective solutions.
The following are some of the key players in the Cloud security market:
- Panda Security (Spain)
- Sophos, Ltd. (UK)
- Symantec Corporation (US)
- Trend Micro, Inc. (Japan)
- CloudPassage Inc. (US)
FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Cloud security market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
Why Stratview Research?
- Exhaustive qualitative and quantitative data
- Uninterrupted post-sales support
- Appropriate market trend and forecast analysis.
- All-inclusive report
- Decent price-performance ratio
- Reliable data
- Attractive market segments and associated growth opportunities.
- Customised report services
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Stratview Research is a leading global market research firm providing expert research solutions, trusted by clients worldwide. To keep our clients ahead of the curve, we provide data backed by extensive market research and in-depth industry knowledge. The broad spectrum of integrated insights is referred to, and cited by press releases, interview with key players, white papers, journals, etc. Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please connect with our team.
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For many years, bookkeepers have been going from transformation due to advancements in technology, but cloud-accounting software has raised the level.
Automated bookkeeping helps businesses to record and reconcile financial transactions. Now, all these things can be achieved with the help of outsourced bookkeeping.
Many employees think that automation is cutting jobs but don't understand a bookkeeper's importance. A person is needed to scan the receipts, invoices, documents, and images to automated bookkeeping software.
Bookkeepers can access financial statements from anywhere at any time. they just have to submit identities like fingerprints or faceprints. After submitting the required documents, people can be authentic users with access to the cloud.
Benefits of Cloud-Computing Software
Transforming from manual bookkeeping to the cloud is remarkable. Companies can now save more than enough time from the finance department only.
By outsourcing bookkeeping, a corporation can cut costs and enjoy accurate or precise data from professionals. Bookkeepers can access real-time data in no time through any device from any location.
Let's discuss a few points that can enhance the efficiency and productivity of employees.
Automated Accounts Payable
Traditionally, a bookkeeper finds it most challenging to remind accounts payable to business owners. SMEs especially complicate it by not paying on time.
Sending invoices to business owners to pay before the due date is crucial to maintaining long-term customer relationships.
Automated Accounts Receivables
Accounts receivable means receiving money from customers is the most complicated task. The customer submits the required amount of money after multiple emails and reminders.
Automation has made this easy as the software automatically sends a reminder to customers to pay on time. When customers send money, it automatically retrieves and records information in the desired place.
Unlike traditional bookkeeping, where a bookkeeper has to find a specific piece of information from bundles of hard copies. He spends almost thirty minutes just searching for the entry.
Now, automated bookkeeping provides a convenient way to search for any information. A bookkeeper can access financial statements from anywhere by accessing them 24/7 to make effective and reliable decisions.
It saves the energy of a finance team that can utilize it to serve more strategic and operational tasks.
Business needs enough storage in manual bookkeeping to store financial data. Bundles of hard copies require a lot of space.
Cloud computing serves businesses most efficiently. It has reduced the workforce to record and categorize data. Cloud computing apps can be accessed from any gadget, so there is no need to stick with a specific system.
Cloud storage provides safe and secure data and increases the confidentiality of financial statements. Many employees feel satisfied after acquiring the services of automated bookkeeping.
Any employee can access financial documents at any time in manual bookkeeping. It increases the chances of fraud, theft, and stolen data. Business owners can’t make instant decisions with less accurate data.
Web-based software makes financial statements more secure and confidential. Cloud software uses encrypted connections to enhance security. Businesses try to acquire updated systems of cloud computing.
Dealing with many papers is hefty and can not be done without staff members. Recording every entry of every financial statement like balance sheet, profit loss statement, Ledger, and trial balance is burdensome.
With bookkeeping outsourcing services, recording and categorizing financial statements are easy and convenient. A bookkeeper just has to scan any document, receipt, hand text, or image and it will fetch all detailed information.
Outsourced bookkeeping provides expertise, which saves the corporation’s time and cost. The saved time can be utilized elsewhere, while the cost can be used to invest in any other project.
Paperwork has been reduced and only authorized bookkeepers can access the software with their unique ID and fingerprint. It increases the efficiency and productivity of the company and its employees.
The scanner allows the bookkeeper to scan the documents. It automatically sends accounts receivables and payables reminders to customers and owners.
It generates tax audit reports instantly upon request, and owners can make decisions quickly. Automated bookkeeping software also guides owners in the decision-making process.