Global IGaaS (Industrial Goods-As-A-Service) Market Size By Type (Industrial Intermediates, Final Industrial Product), By Application (Large Enterprises, SMEs), By Geographic Scope And Forecast
Report ID: 372363|No. of Pages: 202
Global IGaaS (Industrial Goods-As-A-Service) Market Size By Type (Industrial Intermediates, Final Industrial Product), By Application (Large Enterprises, SMEs), By Geographic Scope And Forecast
IGaaS (Industrial Goods-As-A-Service) Market Size And Forecast
IGaaS (Industrial Goods-As-A-Service) Market size was valued at USD 25,663.44 Million in 2022 and is projected to reach USD 97,718.97 Million by 2030, growing at a CAGR of 15.75% from 2024 to 2030.
The IGaaS (Industrial Goods-As-A-Service) Market is experiencing substantial growth, and a significant driver behind this expansion is the growing adoption of the Software-as-a-Service (SaaS) model within the manufacturing industry. The Global IGaaS (Industrial Goods-As-A-Service) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
>>> Get | Download Sample Report @ – https://www.verifiedmarketresearch.com/download-sample/?rid=372363
Global IGaaS (Industrial Goods-As-A-Service) Market Definition
The Global Industrial Goods-as-a-Service (IGaaS) market is experiencing rapid growth, driven by a transformative shift from traditional ownership models to service-oriented approaches across various industries. IGaaS introduces a paradigm where industrial goods, including machinery, equipment, and tools, are offered as services rather than being sold outright. This novel business model enables businesses to access and utilize industrial assets through subscription or pay-per-use models, reducing upfront costs and enhancing operational efficiency.
IGaaS extends beyond providing physical goods, encompassing a comprehensive set of services, including maintenance, upgrades, data analytics, and more. Businesses can pay for IGaaS on a subscription basis or according to actual usage, offering flexibility and cost-effectiveness. IGaaS goes beyond renting equipment, providing outcome-based solutions with guaranteed performance levels. The market incorporates advanced technologies like IoT, data analytics, and automation for enhanced monitoring and optimization of industrial assets.
IGaaS enhances operational efficiency by providing access to the latest industrial equipment without the burden of ownership, leading to cost savings and improved productivity. The IGaaS market benefits from the growing adoption of the Software-as-a-Service (SaaS) model in the manufacturing industry. SaaS facilitates a shift from product ownership to a service-oriented, on-demand approach, aligning with IGaaS principles. IGaaS addresses the industrial sector’s demand for flexibility in capacity management.
What's inside a VMR
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=372363
Global IGaaS (Industrial Goods-As-A-Service) Market Attractiveness Analysis
North America accounted for the largest market share of 37.43% in 2022, with a market value of USD 9,605.8 Million and is projected to grow at a CAGR of 14.25% during the forecast period. The region is home to some of the world’s largest industrial companies, which are driving the growth of the IGaaS market. Additionally, the region’s strong economic growth and increasing consumer spending are contributing to the growth of the IGaaS market. The North American IGaaS market is also being driven by the increasing adoption of digital technologies, such as cloud computing, artificial intelligence, and the Internet of Things. These technologies are enabling companies to offer more efficient and cost-effective services to their customers. Furthermore, the increasing demand for industrial goods and services is driving the growth of the IGaaS market in the region.
Global IGaaS (Industrial Goods-As-A-Service) Market Overview
The IGaaS (Industrial Goods-As-A-Service) Market is experiencing substantial growth, and a significant driver behind this expansion is the growing adoption of the Software-as-a-Service (SaaS) model within the manufacturing industry. SaaS, or Software as a Service, refers to a cloud computing model where software applications are hosted and delivered over the internet on a subscription basis. This means that instead of installing and maintaining software on individual computers or servers, users can access applications and their features through web browsers. SaaS solutions cover a wide range of functions, from customer relationship management (CRM) to enterprise resource planning (ERP), and they are making a significant impact on the manufacturing sector.
The increasing demand for Industrial Goods-as-a-Service (IGaaS) can be attributed significantly to the flexibility it offers in capacity management within the industrial sector. Traditionally, businesses were constrained by the need to make substantial capital investments in industrial equipment to meet production demands. However, IGaaS disrupts this paradigm by providing a more agile and flexible approach to capacity management.
This is a major issue for the Global IGaaS Market, as customers are often not familiar with the concept of industrial goods-as-a-service. Many customers are unaware of the potential advantages of this service, such as cost savings and increased efficiency. This lack of education and awareness can be a major barrier to the adoption of IGaaS in the market. The Industrial Goods-as-a-Service (IGaaS) market faces a significant hurdle in the form of a lack of customer education and awareness, which is impeding the widespread adoption of this transformative business model.
The changing customer preferences within the manufacturing sector is the primary driver of the market. As manufacturers seek to differentiate themselves and provide more holistic solutions, the shift towards offering services alongside traditional products becomes imperative. IGaaS aligns perfectly with this servitization trend by offering a model where industrial goods are provided as part of a comprehensive service package. This evolution is particularly evident in industries where customers are increasingly looking for outcomes and solutions rather than mere products.
Global IGaaS (Industrial Goods-As-A-Service) Market: Segmentation Analysis
The Global IGaaS (Industrial Goods-As-A-Service) Market is segmented on the basis of Type, Application, and Geography.
IGaaS (Industrial Goods-As-A-Service) Market, By Type
- Industrial Intermediates
- Final Industrial Product
To Get a Summarized Market Report By Type:- Download the Sample Report Now
Based on Type, the market is segmented into Industrial Intermediates and Final Industrial Product. Industrial Intermediates accounted for the largest market share of 62.01% in 2022 and is projected to grow at the highest CAGR of 16.07% during the forecast period. Industrial intermediates play a crucial role in the manufacturing and production chains across various industries. Within the IGaaS framework, these intermediates become pivotal in facilitating smoother operations and optimizing the supply chain. Industrial intermediates encompass raw materials, components, or semi-finished products essential for manufacturing final goods. In an IGaaS model, companies can access these intermediates through service-based agreements rather than outright ownership. This subscription-based approach allows for cost efficiency, flexibility, and improved resource allocation.
IGaaS (Industrial Goods-As-A-Service) Market, By Application
- Large Enterprises
- SMEs
Based on Application, the market is segmented into Large Enterprises and SMEs. Large Enterprises accounted for the largest market share of 59.86% in 2022, and is projected to grow at a CAGR of 14.93% during the forecast period. Large enterprises, due to their scale and complexity, find substantial advantages in adopting the IGaaS model for industrial goods and services. These enterprises often have multifaceted operations involving a wide array of industrial machinery, equipment, and materials. IGaaS offers them flexibility and efficiency in managing these resources by shifting from ownership to service-based models.
IGaaS (Industrial Goods-As-A-Service) Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
To Get a Summarized Market Report By Geography:- Download the Sample Report Now
On the basis of Regional Analysis, the Global IGaaS (Industrial Goods-As-A-Service) Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America accounted for the largest market share of 37.43% in 2022 and is projected to grow at a CAGR of 14.25% during the forecast period. The region is home to some of the world’s largest industrial companies, which are driving the growth of the IGaaS market. Additionally, the region’s strong economic growth and increasing consumer spending are contributing to the growth of the IGaaS market. The North American IGaaS market is also being driven by the increasing adoption of digital technologies, such as cloud computing, artificial intelligence, and the Internet of Things. These technologies are enabling companies to offer more efficient and cost-effective services to their customers.
Furthermore, the increasing demand for industrial goods and services is driving the growth of the IGaaS market in the region. Europe was the second-largest market in 2022 and it is projected to grow at a CAGR of 16.40%. This is due to the increasing demand for industrial goods and services, as well as the emergence of new technologies that enable businesses to access these services more easily. The European region is also seeing a shift in the way businesses are consuming industrial goods and services. Companies are increasingly opting for subscription-based models, which allow them to access the services they need on a pay-as-you-go basis. This is driving the growth of the IGaaS market in the region.
Key Players
The “Global IGaaS (Industrial Goods-As-A-Service) Market” is highly fragmented with the presence of a large number of players in the Market Some of the major companies include Siemens, ABB Group, SAP SE, AVEVA, Rockwell Automation, Atlas Copco, Dassault Systèmes, Software AG, Pearson Packaging Systems. This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Company Market Ranking Analysis
The company ranking analysis provides a deeper understanding of the top 3 players operating IGaaS (Industrial Goods-As-A-Service) Market. VMR takes into consideration several factors before providing a company ranking.
The top three players for the IGaaS (Industrial Goods-As-A-Service) Market are Siemens, ABB Group, SAP SE. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product related sales obtained by the company in recent years and its share in the total revenue. VMR further study the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various IGaaS (Industrial Goods-as-a-Service) Markets.
Company Regional Footprint
The company’s regional section provides geographical presence, regional level reach, or the respective company’s sales network presence. For instance, SAP SE has its presence globally i.e. in North America, Europe, Asia Pacific and RoW. All the companies considered for profiling are reviewed similarly under this section. These sections help us to understand the overall IGaaS (Industrial Goods-As-A-Service) Market presence on a global and country level.
Ace Matrix
This section of the report provides an overview of the company evaluation scenario in the IGaaS (Industrial Goods-As-A-Service) Market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| Unit | Value (USD Million) |
| KEY COMPANIES PROFILED | Siemens, ABB Group, SAP SE, AVEVA, Rockwell Automation, Atlas Copco, Dassault Systèmes, Software AG, Pearson Packaging Systems. |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
To Get Customized Report Scope:- Request For Customization Now
Top Trending Reports
Global Sandblasting Machines Market Size And Forecast
Global Robotic Prosthetic Market Size And Forecast
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
FIGURE 1 GLOBAL IGAAS (INDUSTRIAL GOODS-AS-A-SERVICE) MARKET SEGMENTATION
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
