Manufacturing Analytics Market Projected to Reach $35.57 Billion by 2029, Driven by Growth in Asia and Cloud Adoption
Market Overview:
The global manufacturing analytics market is expected to reach $35.57 billion by 2029, with a CAGR of 19.58% from 2023. Key drivers include:
Increasing Demand for Efficiency:
Manufacturers are seeking improved efficiency and scalability in their processes. Rising Adoption of Cloud-Based Solutions: Cloud solutions are being increasingly adopted for their scalability and accessibility. Growth of IIoT and Big Data: The integration of IIoT and big data technologies is driving growth in the manufacturing analytics market.
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Market Introduction:
Manufacturing analytics involves collecting, analyzing, and utilizing data to optimize production processes, reduce costs, and improve overall business performance.
Research Methodology:
Maximize Market Research utilized a combination of primary and secondary data collection methods to analyze the manufacturing analytics market.
Market Dynamics: Demand for Operational Excellence:
Manufacturers are increasingly looking for ways to improve efficiency, reduce costs, and meet customer demands, driving the adoption of manufacturing analytics solutions. Cloud Adoption and IIoT Integration: Cloud-based solutions offer greater scalability, accessibility, and cost-effectiveness compared to on-premise deployments, while IIoT integration allows for real-time data collection and analysis, enhancing decision-making capabilities. Rise of Big Data and Analytics: The growing adoption of big data technologies enables manufacturers to store, manage, and analyze massive datasets, generating valuable insights for process optimization and predictive maintenance.
Market Segmentation:
- By Component: Software and Services
- By Deployment: Cloud and On-premise
- By Industry Vertical: Semiconductor & Electronics, Energy & Power, Pharmaceutical, Automobile, and others
- By Application: Predictive Maintenance, Inventory Management, Supply Chain Optimization, and others
Market Players:
1.International Business Machines Corporation
2. Tableau Software
3. Oracle Corporation
4. SAP SE
5. Zensar Technologies Ltd.
6. SAS Institute, Inc.
7. Computer Science Corporation (CSC)
8. Tibco Software, Inc.
9. Statsoft, Inc.
10. Alteryx, Inc.
11. 1010data, Inc.
12. General Electric
13. Sisense Inc.
14. Wipro Limited
Regional Insights:
- North America: Currently holds the largest market share due to the presence of established manufacturing industries and high adoption of advanced technologies.
- Asia Pacific: Expected to register the highest growth rate during the forecast period due to rapid industrialization, increasing government support, and growing awareness of manufacturing analytics benefits.
- Europe: Expected to witness steady growth driven by continuous advancements in manufacturing technologies and a focus on operational efficiency.
Key Takeaways: The manufacturing analytics market is expected to experience significant growth in the coming years, driven by the increasing demand for operational excellence, the rise of cloud computing, IIoT, and big data technologies. The Asia Pacific region is expected to be a key growth driver, while established players in North America and Europe will continue to play a major role in the market.
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Manufacturing Analytics MarketThe manufacturing sector has developed at a dramatic rate over the past few years.
Owing to the development in the manufacturing sector, the global market for manufacturing analytics too has started gaining impetus.
According to the research report published by MRFR (Market Research Future), this market will come across many growth opportunities during the forecast period of 2017-2027.Manufacturing analytics can help in undertaking rule-based analysis to improve business process and production quality.
Ultimately this technology aids in enhancing, evaluating and employing the best practices for any manufacturing company.At present, the manufacturing sector across the globe is under pressure to cut down on production costs and manufacturing analytics can help in doing that.
Figuratively too, the future looks good for the market and the encouraging CAGR further confirms this fact.The usage of data-management strategies for several manufacturing applications has become commonplace these days.
This is one of the many factors that contributes towards the growth of the market.Additional factors that further positively influence market expansion can be listed as higher need for process optimization, sudden increase in structured and unstructured manufacturing data, rising business agility and scalability, adoption of Industrial internet of Things (IIoT) and lastly the switch from conventional BI methodologies to advanced analytics methods.Market SegmentationThe worldwide market for manufacturing analytics has been segmented into four equal divisions.
The Global Manufacturing Analytics Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The report offers a value chain analysis that gives a comprehensive outlook of the manufacturing analytics market.
The attractiveness analysis of this market has also been included so as to evaluate the segments that are anticipated to be profitable during the forecast period.Browse the complete Global Manufacturing Analytics Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/6785-manufacturing-analytics-market-reportThe report also covers the complete competitive landscape of the global Manufacturing Analytics market with company profiles of key players such as:International Business Machines CorporationTableau SoftwareOracle CorporationSAP SEZensar Technologies Ltd.SAS Institute, Inc.Computer Science Corporation (CSC)Tibco Software, Inc.Statsoft, Inc.Alteryx, Inc.1010data, Inc.SEGMENTATIONS IN REPORT:Manufacturing Analytics Market Analysis by Type:SoftwareServiceProfessional ServicesManaged ServicesManufacturing Analytics Market Analysis By Applications:Predictive Maintenance & Asset ManagementInventory ManagementSupply Chain Planning & ProcurementEnergy ManagementEmergency ManagementSales & Customer ManagementOther ApplicationsManufacturing Analytics Market Analysis By Deployment Model:On-PremisesOn-DemandManufacturing Analytics Market Analysis By Industry Vertical:Automotive & Aerospace ManufacturingElectronics Equipment ManufacturingFood & Beverages ManufacturingChemicals & Materials ManufacturingMachinery & Industrial Equipment ManufacturingPharma And Life SciencesPaper, Pulp, Plastic And Rubber ManufacturingOthersManufacturing Analytics Market Analysis by Geography:North AmericaEuropeAsia PacificLatin AmericaMiddle East And AfricaDownload Free Sample Report of Global Manufacturing Analytics Market @ https://www.decisiondatabases.com/contact/download-sample-6785The Global Manufacturing Analytics Market has been exhibited in detail in the following chapters –Chapter 1 Manufacturing Analytics Market PrefaceChapter 2 Executive SummaryChapter 3 Manufacturing Analytics Industry AnalysisChapter 4 Manufacturing Analytics Market Value Chain AnalysisChapter 5 Manufacturing Analytics Market Analysis By TypeChapter 6 Manufacturing Analytics Market Analysis By ApplicationsChapter 7 Manufacturing Analytics Market Analysis By Deployment ModelChapter 8 Manufacturing Analytics Market Analysis By Industry VerticalChapter 9 Manufacturing Analytics Market Analysis By GeographyChapter 10 Competitive Landscape Of Manufacturing Analytics CompaniesChapter 11 Company Profiles Of Manufacturing Analytics IndustryPurchase the complete Global Manufacturing Analytics Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-6785Other Reports by DecisionDatabases.com:Global Financial Analytics Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Edge Analytics Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Healthcare Analytics Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
We provide intellectual, precise and meaningful data at a lightning speed.For more details:DecisionDatabases.comE-Mail: [email protected]: +91 9028057900Web: https://www.decisiondatabases.com/
Global: Manufacturing Analytics Market Information by types (software, services), by application (predictive asset management, inventory management, supply chain analysis, power and energy), by deployment (on demand, on premise) - Forecast to 2027Market DynamicsMarket Research Future (MRFR) projects substantial gains for the manufacturing analytics market 2020 at a high rate between 2017 and 2027 (assessment period).
We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/886Impact Analysis on COVID-19The COVID-19 analysis by MRFR suggests that the manufacturing analytics market can benefit from the high rate of digital transformation, rising investments in analytics combined with the surging demand for location data and remote services, and the mounting need for real-time data to monitor and track the spread of novel coronavirus.
However, experts remain hopeful as the manufacturing analytics market is presumed to remain resilient, in line with emerging opportunities induced by COVID-19.Primary Boosters and Key DeterrentsWith the increasing need to find COVID-19 breakthrough, the healthcare industry is facing massive pressure to provide prophylactic, PPE, anti-viral drugs and ventilators around the world.
To cite a reference, in May 2020, Tableau Software, a renowned analytics platform, launched Tableau 2020.2, which can deliver COVID-19 based data at county level, assess hospital data at an institution level and monitor data at date level, saving time while completing higher number of complex analysis.
This can be quite relevant while evaluating the COVID-19 impact across the world.Market SegmentationFor enhanced understanding, the global manufacturing analytics market has been segregated into 6 categories, namely component, deployment, application and vertical.The market segmentation with respect to component comprises services as well as software.Deployment-wise segments covered in the market study are on demand and on premise.Application areas of manufacturing analytics include Inventory Management, Predictive Maintenance & Asset Management, Emergency Management, Energy Management, Supply Chain Planning & Procurement, Sales & Customer Management and others.Verticals extensively deploying manufacturing analytics solutions and services include food & beverages, pharmaceuticals & life sciences, chemicals, automotive, aerospace, industrial, electronics, and more.Regional StudyThe regional study of the manufacturing analytics industry has been carried out across Europe, North America, APAC or Asia Pacific and RoW or Rest of the World.North America can remain the most lucrative market in the following years, with the U.S and Canada expected to be the top-performing countries.
The manufacturing analytics market in the region is thriving on the back of a huge number of renowned companies like Tableau Software, SAS Institute, Oracle Corporation, Tibco Software, Computer Science Corporation, Dell Statsoft and IBM Corporatio, to name a few.
