A recent report published by Infinium Global Research on the manufacturing analytics market provides an in-depth analysis of segments and
sub-segments in the global as well as regional manufacturing analytics market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional manufacturing analytics market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global manufacturing analytics market.
According to the report, the global manufacturing analytics market is projected
to grow at a CAGR of 22.1% over the forecast period of 2019-2025.
Manufacturing analytics helps manufacturing companies to
understand machine data. It includes functions such as data acquisition,
filtration, and contextualization of the data, calculation of manufacturing
KPIs, and then the generation of role-based visualization and dashboards. It is
used to increase process efficiency, centralize production monitoring, turn
real-time data into just in tome insights and better serve the customers. It promotes cost-effective production through
monitoring and analysis.
The growing need for process optimization drives the
expansion of the manufacturing analytics market. The manufacturing analytics
market is highly influenced by the adoption of advanced data management
strategies across a variety of manufacturing applications. Further, the rising
development of the industrial Internet of Things led to a rise in demand for
manufacturing analytics. In 2019, Hitachi Vantara brought Industrial IoT to the
production floor with Lumada manufacturing insights. The Internet of Things solutions
empowers the manufacturing industry that helps to achieve transformative
outcomes from data-driven insights. It optimizes machine, production, and
quality outcomes that set the foundation of digital innovation in the
manufacturing sector. Data analytics in manufacturing sector helps to meet
federal norms, supply chain requirements, global competition, reduce
manufacturing costs, and improve operating income. The growing demand for big
data analytics in the manufacturing sector is attributed to the rising multiple
industry data sources such as sensors, images, in-factory databases, and
others. Additionally, the manufacturing industry is rapidly adopting various
process improvement programs such as lean manufacturing, data acquisition
system, supervisory control, and six sigma. This has improved the adoption of
manufacturing analytics. Furthermore, the rise in investments on big data in
the manufacturing sector contributes to the expansion of the manufacturing
analytics market. On the flip side, lower return on investment hinders the
growth of the manufacturing analytics market. Moreover, technological
development and increasing cloud adoption trends create numerous opportunities
in the global manufacturing analytics market.
Geographically, the global manufacturing analytics market is
divided into North America, Asia-Pacific, Europe, and the Rest of the World.
North America is expected to account for the major share in the global
manufacturing analytics market. The presence of leading market players and
rising awareness about advanced technologies in North America led to the
expansion of the manufacturing analytics market in North America. Asia-Pacific
region is anticipated to grow in the global manufacturing analytics market with
a healthy CAGR over the forecast period. The growth of the manufacturing
analytics market in Asia-Pacific is attributed to the increasing awareness
about manufacturing technologies among manufacturing companies. Europe has a
significant growth rate in the global manufacturing analytics market due to the
adoption of smart manufacturing techniques in the region.
The report on global manufacturing analytics market covers
segments such as type, application, and industry vertical. On the basis of
type, the sub-markets include software, and services. On the basis of
application, the sub-markets include inventory management, energy management,
sales and customer management, emergency management, predictive maintenance and
asset management, supply chain planning and procurement, and other
applications. On the basis of industry vertical, the sub-markets include
electronics and aerospace manufacturing, food and beverages manufacturing,
chemicals and materials manufacturing, pharma and life sciences, paper, pulp,
plastic, and rubber manufacturing, and other industries.
The report provides profiles of the companies in the market
such as SAS Institute, Inc., Computer Sciences Corporation, TIBCO Software,
Inc., StatSoft, Inc., Oracle Corporation, Zensar Technologies Ltd., Tableau
Software, SAP SE, International Business Machine Corporation, Alteryx, Inc.,
and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of manufacturing
analytics market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.