Manufacturing Analytics Market Value to Surpass USD 28.4 Billion by 2026
Increase in investments in big data for manufacturing, rise in industrial IoT (IIoT) adoption, and surge in need for process optimization fuel the growth of the global manufacturing analytics market. On the other hand, lack of skilled professionals and scarcity of integration with legacy systems impede the market growth to certain extent. Nevertheless, usage of advanced technologies such as AR and VR is anticipated to usher a plethora of opportunities in the near future.
Download Sample PDF Report at: https://www.alliedmarketresearch.com/request-sample/6248
The global manufacturing analytics market is segmented into component, deployment, application, industry vertical, and region. Based on component, the market is bifurcated into software and service. The software segment held the highest market share in 2018, contributing to more than four-fifths of the global manufacturing analytics market. On the other hand, the service segment is expected to register the fastest CAGR of 19.3% from 2019 to 2026.
Based on application, the market is divided into predictive maintenance, inventory management, supply chain optimization, and others. 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. At the same time, the predictive maintenance segment is expected to grow at the fastest CAGR of 21.4% during the forecast period.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/6248
Key trends in the manufacturing analytics market:
• Integration with Industry 4.0: As manufacturing becomes increasingly automated and connected, the integration of manufacturing analytics with Industry 4.0 technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) is becoming more important. This integration allows for real-time data analysis and decision making.
• Predictive analytics: Predictive analytics is becoming more prevalent in manufacturing as it allows organizations to anticipate equipment failures, quality issues, and production bottlenecks. By identifying potential problems before they occur, organizations can take corrective action and minimize downtime and production losses.
• Cloud-based analytics: Cloud-based manufacturing analytics platforms are becoming more popular as they offer scalability and flexibility, allowing organizations to quickly scale up or down their analytics capabilities as needed. Cloud-based platforms also allow for easier collaboration between teams and partners.
• Real-time analytics: Real-time manufacturing analytics allows organizations to make decisions in real-time based on data from sensors and other sources. This enables faster response times to production issues and allows for continuous optimization of manufacturing processes.
• Digital twins: Digital twins are virtual representations of physical assets that allow organizations to simulate and optimize production processes. By using digital twins, organizations can identify potential issues before they occur and optimize production for maximum efficiency.
• Focus on quality control: The use of manufacturing analytics for quality control is becoming more prevalent as organizations seek to improve product quality and reduce defects. By analyzing data from sensors and other sources, organizations can identify quality issues and take corrective action before they become major problems.
If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/6248
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 expected to maintain its dominant position during the forecast period. On the other hand, the Asia-Pacific region is estimated to grow at a CAGR of 19.6% from 2019 to 2026.
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.
Procure Complete Report (276 Pages PDF with Insights, Charts, Tables, and Figures) at: https://bit.ly/3yKYCrP
Access to Summary of Report: https://www.alliedmarketresearch.com/manufacturing-analytics-market
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on: LinkedIn Twitter
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR 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 in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Manufacturing Analytics Market Value to Surpass USD 28.4 Billion by 2026 here
News-ID: 2979579 • Views: 408
More Releases from Allied Market Research
Transcriptomics Market by Type, Technology, Application, Global Opportunity Anal …
Allied Market Research recently said Transcriptomics is the study of the transcriptome, which refers to the complete set of RNA molecules that are transcribed from the DNA of an organism. It is a field of molecular biology that focuses on the analysis of the expression, processing, and regulation of RNA molecules in cells, tissues, and organisms. The transcriptomics market size was valued at $5,790.51 million in 2020, and is estimated
Pet Boarding Market is Projected to Reach $35.8 Billion by 2031 | Key players - …
According to a new report published by Allied Market Research, titled, "Pet Boarding Market By Pet Type, By Services: Global Opportunity Analysis and Industry Forecast, 2021-2030″. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The pet boarding market was valued at $19.5 billion in 2021, and is estimated to reach $35.8
Medical Spa: To Play A Major Role In $15.7 Trillion Economic Boost
Allied Market Research recently said A medical spa, also known as a medspa, is a facility that combines traditional spa services with medical procedures to provide a comprehensive range of cosmetic and aesthetic treatments. Medical spas are overseen by licensed medical professionals and offer a variety of services that are designed to enhance a person's appearance, improve their well-being, and treat medical conditions. The global medical spa market size was
Adult Diapers Market Size to Hit US$ 24.1 billion by 2026 at 7.8% CAGR: Allied M …
According to a new report published by Allied Market Research titled, "Global Adult Diapers Market by Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global adult diapers market size was valued at $13.3 billion in 2018, and is projected to reach $24.1 billion by 2026, growing at a CAGR of 7.8% from 2019 to 2026. In 2018, North America accounted for nearly 28.7% share of
More Releases for Analytics
Security Analytics Market Report 2018: Segmentation by Application (Network Secu …
Global Security Analytics market research report provides company profile for Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Hewlett Packard Enterprise (U.S.), EMC RSA (U.S.), FireEye, Inc. (U.S.), Arbor Networks, Inc. (U.S.), LogRhythm, Inc. (U.S.), Alert Logic (Click Security) and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of
Life Science Analytics Market 2025 Future Forecast by Product Overview - Predict …
The growth of the life science analytics market can be attributed to the increasing prevalence of chronic diseases and growing need for improved data standardization. Moreover, use of analytics in precision & personalized medicine, and increasing focus on improving patient outcomes also likely to add new opportunities for the global life science analytics market over the forecast period. Life Science Analytics Market to 2025 - Global Analysis and Forecasts by Type
Predictive Analytics Market Report 2018: Segmentation by Type (Services, Solutio …
Global Predictive Analytics market research report provides company profile for Alteryx, Inc. (US), AgilOne (US), Angoss Software Corporation (Canada), Domino Data Lab (US), Dataiku (US), Exago, Inc. (US), Fair Isaac Corporation (FICO) (US), GoodData Corporation (US) and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY
Predictive Analytics Market (Services, Solutions (Financial Analytics, Risk Anal …
Global Predictive Analytics Market Report 2023,” industry verticals, the Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to have the largest market share during the forecast period. Organizations operating in the BFSI industry vertical are using predictive analytics for effective and efficient management of various processes. Further, the major reason for the rising adoption of predictive analytics can be attributed to the need for minimizing the risks and
Prescriptive and Predictive Analytics Market By Type (Collection Analytics, Mark …
ResearchMoz presents this most up-to-date research on "Prescriptive and Predictive Analytics Market By Type (Collection Analytics, Marketing Analytics, Supply-Chain Analytics, Behavioral Analytics & Talent Analytics): Global Size, Status and Forecast, 2022". This report studies the global Prescriptive and Predictive Analytics market, analyzes and researches the Prescriptive and Predictive Analytics development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in
Global Analytics Service Market by Type: Predictive analytics, Prescriptive anal …
Learning Objective • To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Analytics as a service Market. • To provide insights about factors affecting the market growth. • To Analyze the Analytics as a service Market based on various factors- porters five force analysis, mega trend analysis, macroeconomic indicators etc. • To provide historical and forecast revenue of the