Summary:
A New Study Title “Manufacturing Analytics Market Size, Status And Forecast 2027” Has Been Featured On Market Research Future.
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 2027
Market Research Future (MRFR) report on the global manufacturing analytics market is a comprehensive evaluation that provides a rigorous overview of the field. The report covers the COVID-19 analysis of the global manufacturing analytics market and provides a systematic and detailed explanation of market segments, recent developments, growth projections, and market challenges from 2019 to 2027 (forecast period) to identify economic opportunities.
Manufacturing Analytics is an application that allows manufacturing companies to understand machine data. Manufacturing analytics performs tasks, including data acquisition, calculating the manufacturing KPIs, filtering and contextualizing data, and generating role-based visualizations & dashboards. Manufacturing analytics is used to improve process performance, centralize production monitoring, turn real-time data into just-in-time insights, and better serve customers. Manufacturing analytics helps businesses achieve more cost-effective production by tracking and analyzing and improving client experience. Manufacturing analytics also allows optimized business operations to attain full-cycle visibility across business data and hardware.
Market Dynamics
The rise in the adoption of Industrial IoT, the increase in investment in big data for manufacturing, and the increase in the need for process optimization are some of the main factors pushing the growth of the market for manufacturing analytics. Nevertheless, the lack of integration with legacy systems and the shortage of qualified workforce are some of the significant aspects that restrict the growth of the manufacturing analytics market. Furthermore, advanced technologies like VR and AR with manufacturing analytics are expected to create new opportunities for the demand for manufacturing analytics.
Market Segmentation
For a better understanding of the report, the global manufacturing analytics market has been segmented on the basis of types, application, deployment mode, and end-user industries.
Based on types, the global manufacturing analytics market has been segmented into software and services. Services have been further segmented into managed and professional.
On the basis of application, the global manufacturing analytics market has been segmented into predictive asset management, power and energy, inventory management, supply chain analysis, emergency, sales & customer support, and others.
Based on deployment, the global manufacturing analytics market has been segmented into on-demand and on-premise.
Based on end-users, the global manufacturing analytics market has been segmented into electronics equipment manufacturing industries, automotive and aerospace manufacturing industries, chemicals and materials manufacturing industries, food and beverages manufacturing industries, pharma and life science industry, machinery and industrial equipment manufacturing industries, paper, pulp, plastic, and rubber manufacturing industries and others.
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Regional Analysis
Region-wise, the global manufacturing analytics market has been segmented into North America, Asia Pacific, Europe, and the Middle East & Africa.
North America is projected to be the largest manufacturing analytics market in the forecast period, followed by Europe. The rise of the manufacturing analytics market in this area is due to a high emphasis on innovations through research and development and technology upgrades such as big data and cloud services across different manufacturing industries. The market is expected to see the fastest growth in the Asia Pacific during the forecast period.
Key Players
The industry giants in the global manufacturing analytics market are- Computer Science Corporation (CSC), Zensar Technologies Ltd., Tableau Software, SAS Institute, Inc., Oracle Corporation, SAP SE, IBM, Statsoft, Inc. 1010data, Inc., Alteryx, Inc., among others.
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