According to the latest report by IMARC Group “Manufacturing Analytics Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027“, The global manufacturing analytics market size reached US$ 8.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.6 Billion by 2027, exhibiting a growth rate (CAGR) of 21.4% during 2022-2027.
Manufacturing analytics collects and manipulates large amounts of data to achieve actionable insights in real-time. It relies on edge computing, predictive and big data analytics, industrial internet of things (IIoT), machine learning (ML), and to enable smarter, scalable factory solutions. Nowadays, manufacturing analytics is widely implemented across different industry verticals to ensure quality, enhance performance, increase yield, reduce costs, and optimize supply chains.
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Market Trends:
The global manufacturing analytics market is primarily driven by emerging automation trends in industrial processes and the growing volume of data. Manufacturing analytics help companies increase overall productivity and profitability. Besides this, the spread of the coronavirus disease (COVID-19) has resulted in supply chain disruptions and the temporary closure of various manufacturing units due to the imposition of lockdown by various governing agencies. This has prompted manufacturing entities across the globe to deploy smart manufacturing analytics solutions to mitigate the impact of the pandemic. On account of these factors, the market is anticipated to witness positive growth in the coming years.
Breakup by Component:
- Software
- Services
Breakup by Deployment Model:
- Cloud-based
- On-premises
Breakup by Application:
- Predictive Maintenance
- Inventory Management
- Supply Chain Optimization
- Others
Breakup by Industry Vertical:
- Semiconductor and Electronics
- Energy and Power
- Pharmaceutical
- Automobile
- Heavy Metal and Machine Manufacturing
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Alteryx Inc.
- General Electric
- International Business Machines Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Sisense Inc.
- Tableau Software LLC (Salesforce.com Inc.)
- TIBCO Software Inc.
- Wipro Limited
- Zensar Technologies Ltd.
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