Manufacturing Analytics Market – Forecasts to 2020 – 2027
Global Manufacturing Analytics Market was valued US$ 4X.XX Bn in 2019 and is expected to reach US$ 20.XX Bn by 2027, at CAGR of 23.XX% during forecast period of 2020 to 2027.
Manufacturing Analytics Market Overview:
To improve business processes and production quality data analytics plays a vital role into various industrial domains which include banking, financial services and insurance (BFSI), e-commerce and several others. Organizations increasing their focus to minimize manufacturing cost, supply-chain requirements, meet regulations & norms, global competition and improve operating income has generated the high demand of data analytics in manufacturing industry. In addition, several process improvement programs, such as, Lean Manufacturing, supervisory control and data acquisition system (SCADA) and Six Sigma are being accepted by manufacturing companies, which boost the adoption of manufacturing analytics, ultimately fuel the market growth. Contemporary methods to analyze manufacturing process data are unable to fulfill the entire requirement, due to growing multiple industry data sources such as in-factory databases, images, sensor, recording of several operations in a factory and various others have created a great thrust for big data analytics in manufacturing. This factor is one of the chief growth drivers of manufacturing analytics market.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
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Manufacturing Analytics Market Dynamics:
Manufacturing analytics gathers data from geographically distributed resources, programmable logic controllers (PLC’s), historians and provide organized and modeled analysis. The bulk amount of data is being generated from the networked industry equipment and automation systems that has resulted in strong demand of analytics in manufacturing sector. Moreover, remarkable rise in demand to optimize business process and make them more agile and scalable is further boosting the growth of manufacturing analytic software in manufacturing sector.
Besides, tricky operation and low return on investment from manufacturing analytics tools has put adverse effects on the market growth. Additionally, technical restrictions related with cloud deployment such as data security and privacy is likely to hamper the market growth.
To improve the operational profit, there is a strong need of big data analytics but still several manufacturing industries ignore or unaware about the benefits of it. This provide strong business opportunity for the software tool manufacturers to grow their business in the regions where the manufacturers are still not confident or have less knowledge about the manufacturing data analytics. Similarly, development of low cost manufacturing analytics tools which can fulfil the demand of small and medium enterprises, represents a huge market opportunity for the manufacturing analytics market.
Region Wise, Current and Forecasted Market Share of Different Segments and their CAGR during 2020-2027.
On the basis of deployment mode, on demand segmented is expected to witness the high growth of CAGR XX.XX % during the forecast period due to the rising demand of cloud data analytics across the globe. By component, software segment and support and maintenance services will experience the highest growth at CAGR XX.XX % and XX.XX % respectively during the forecast period.
In 2019, North America has dominated the manufacturing analytics market with market share of US$ XX.XX Bn, the reason behind this contribution is quick adoption of these tools among manufacturing sector. However, Asia Pacific region is estimated to each US$ XX.XX Bn by 2027, at CAGR XX.XX%, with significant presence and consistently growing manufacturing sector for several industries. Whereas, Middle East and Africa is anticipated to grow at moderate rate owing to the steady IT infrastructure development and the habit of not so quick adoption of advanced technologies.
Objective of the Report:
The objective of the report is to present a comprehensive analysis of Global Manufacturing Analytics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Manufacturing Analytics Market dynamics, structure by analyzing the market segments and project the Global Manufacturing Analytics Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Manufacturing Analytics Market make the report investor’s guide.
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Global Manufacturing Analytics Market is studied by Various Segments:
Global Manufacturing Analytics Market by Deployment Mode
Global Manufacturing Analytics Market by Component
• Managed services
• Professional services
• Support and maintenance services
• Consulting services
Global Manufacturing Analytics Market by Application
• Energy management
• Predictive maintenance & asset management
• Inventory management
• Supply chain planning & procurement
• Sales & customer management
• Emergency management
Global Manufacturing Analytics Market by Vertical
• Chemicals & Basic Materials manufacturing
• Electronics equipment manufacturing
• Paper, pulp, plastic and rubber manufacturing
• Automotive & aerospace manufacturing
• Machinery & industrial equipment manufacturing
• Food & beverages manufacturing
• Pharmacy and life sciences
Global Manufacturing Analytics Market by Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
The major players profiled in the report of Global Manufacturing Analytics market are as follows:
• SAS Institute, Inc.,
• Computer Science Corporation,
• IBM Corporation,
• SAP SE,
• Tableau Software,
• 1010data, Inc.,
• Tibco Software, Inc.,
• Statsoft, Inc.,
• Zensar Technologies Ltd.,
• Oracle Corporation,
• Alteryx Inc.,
• QlikTech International AB,
• Tata Consulting Services Ltd.,
• Sisense Inc.,
• Predixion Software, Inc.,
• General Electric Company,
• Wipro Ltd.,
• Aegis Industrial Software Corporation,
• GEMINI Software Solutions Pvt. Ltd.
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