The cloud plays a huge role in Industry 4.0, especially in the areas of data processing and storage, quality control and manufacturing execution systems. Industry watcher Gartner expects the worldwide public cloud service market to grow at a compound annual growth rate of 12.6% by 2022, hitting $331.2 billion. Business Intelligence, Supply Chain Management and Enterprise Resource Planning–all applications manufacturers rely on–will see the highest spend on software-as-a-service (SaaS), Gartner predicts.
Cloud-based solutions offer manufacturers cost-effective data storage and data security, as well as services such as enhanced analytics, machine learning, insights around operational efficiency, and more. Now, more than ever before, manufacturers are eager to leverage the power of the cloud to support their digital transformation.
However, while cloud computing brings many benefits, manufacturers should be aware of the potential risks that come with a cloud strategy. Relying on cloud-based solutions for mission-critical activities within the factory leaves the operation vulnerable if the Internet fails. In short, Internet connectivity–something outside of the manufacturer’s control–could potentially jeopardize their entire operations.
To learn more, read "Smart Manufacturing: Creating a Hybrid Cloud-Edge Strategy" from Forbes.