Press release
Industrial Analytics Market Report: Size, Share, Growth, Trends, Demand, Insights And Forecast Up To 2033
Industrial Analytics Market Report
The Business Research Company presents an extensive market research report on the Industrial Analytics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The industrial analytics market size has grown rapidly in recent years. It will grow from $26.27 billion in 2023 to $30.47 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to efficiency and optimization, predictive maintenance, cost reduction strategies, globalization and supply chain optimization, regulatory compliance.
The industrial analytics market size is expected to see rapid growth in the next few years. It will grow to $57.52 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to cybersecurity focus, edge computing integration, customization for industry-specific needs. Major trends in the forecast period include integration of sensor technologies, industry 4.0 adoption, digital twins integration, integration of IoT sensors, cybersecurity for industrial systems.
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Key Market Players:
Major companies operating in the industrial analytics market report are Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Hewlett Packard Enterprise Company, Emerson Electric Co., Rockwell Automation Inc., Yokogawa Electric Corporation, SAS Institute Inc., Splunk Inc., PTC Inc., TIBCO Software Inc., Fair Isaac Corporation, Software AG, Altair Engineering Inc., Aspen Technology Inc., OSIsoft LLC, Telit Communications PLC, Cognite AS, Seeq Corporation, Uptake Technologies Inc.
Market Drivers:
The rising demand from the e-commerce sector is expected to drive the growth of the industrial analytics market. The increasing adoption of smartphones, easy and affordable access to technology, and the convenience of purchasing from anywhere, at any time are the driving factors of online commerce's recent surge. Furthermore, due to COVID-19 pandemic, carrying out all the operations at home or remotely is seen, so people tend to use e-commerce platforms to purchase goods and services. For instance, in November 2023, according to The United States Census Bureau, a US-based government agency, during the third quarter of 2023, retail e-commerce sales reached an estimated $284.1 billion, reflecting a notable growth of 7.8% compared to the same period in 2022. Therefore, the rise in demand for E-commerce is driving the industrial analytics market growth.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/industrial-analytics-global-market-report
The industrial analytics market covered in this report is segmented -
1) By Analytics Type: Predictive Analytics, Prescriptive Analytics, Descriptive Analytics, Diagnostic Analytics
2) By Organization Size: Large Organizations, Small And Medium Organizations
3) By Deployment Mode: Cloud-Based, On-Premises
4) By Component: Software, Services
5) By Vertical: Information Technology (IT) And Telecom, Energy And Utilities, Transportation And Logistics, Retail And Consumer Goods, Manufacturing, Other Verticals
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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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…
