Manufacturing Analytics Market 2020 - Trends, Top Players, Future Growth and Competitors Analysis, 2019-2026

Rise in investments in big data for manufacturing, surge in industrial IoT (IIoT) adoption, and increase in need for process optimization drive the growth of the global manufacturing analytics market. However, scarcity of skilled professionals and lack of integration with legacy systems hinder the market growth. On the other hand, usage of advanced technologies including AR and VR creates new opportunities in the market.

Based on region, North America held the major market share, contributing to nearly two-fifths of the total share of the global manufacturing analytics market in 2018, and is estimated to maintain its dominant position during the forecast period. This is attributed to presence of number of key market players in North America that utilize big data analytics in their manufacturing plants and adoption of Industry 4.0 and IIoT. However, the Asia-Pacific region is estimated to grow at a CAGR of 19.6% from 2019 to 2026. This is due to rapidly growing manufacturing industry in countries including China and India along with rise in investment in the manufacturing sector for digitalization.

Access full summary report at https://www.alliedmarketresearch.com/manufacturing-analytics-market

The global manufacturing analytics market analysis includes some of the key market players such as SAP SE, Oracle Corp., SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc., IBM Corp., Alteryx, Inc., Sisense, Inc., Wipro Limited, and General Electric Company.

The global manufacturing analytics industry generated $5.95 billion in 2018, and is estimated to reach $28.44 billion by 2026, registering a CAGR of 16.5% from 2019 to 2026.

Get Sample Report for More Details at https://www.alliedmarketresearch.com/request-sample/6248

Based on application, the supply chain optimization segment contributed to the highest market share in 2018, contributing nearly half of the global manufacturing analytics market, and is estimated to maintain its highest share in terms of revenue by 2026. This is attributed to reduction in the risks related to management of supply chain such as prediction of possible delays in stocks and suppliers' delivery along with formation of backup plans. However, the predictive maintenance segment is expected to grow at the fastest CAGR of 21.4% during the forecast period. This is due to adoption of predictive analytics for detection of the catastrophes that may arise in heavy equipment along with need to reduce the costs regarding unpanned outages.

Inquire more about this report at https://www.alliedmarketresearch.com/purchase-enquiry/6248

Based on component, the software segment held the largest market share in 2018, accounting for more than four-fifths of the global manufacturing analytics market, and is estimated to maintain its leadership position throughout the forecast period. This is due to benefits such as reduction in downtime and operating costs along with improvement in productivity, performance, efficiency, and equipment lifetime. However, the service segment is expected to register the fastest CAGR of 19.3% from 2019 to 2026. This is attributed to surge in demand for cloud-based manufacturing analytics services.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research/

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.