Global Manufacturing Predictive Analytics Market: Trends, Insights, and Forecasts 2026

According to a recent report published by Allied Market Research, titled, "Manufacturing Predictive Analytics Market by Component, Deployment, Application, and End User: Opportunity Analysis and Industry Forecast, 2019-2026," the manufacturing predictive analytics market size was valued at $535.0 million in 2018, and is projected to reach $2.5 billion by 2026, growing at a CAGR of 21.7% from 2019 to 2026.

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Rise in digitalization and favorable government initiatives for big data projects, especially in emerging counties such as India and China to adopt emerging technologies in manufacturing facilities is one of the major factors that drive the growth of the global manufacturing predictive analytics market.

In addition, significant growth of Industrial Internet of Thigs (IIoT) devices is also expected to fuel the market growth during the forecast period. Furthermore, ongoing smart factory initiatives and rise in demand for advance analytical solutions in terms of accessibility to data visualization platforms and applications from anywhere among various manufacturers boost the growth of the market.

Nonetheless, concerns associated with cloud security and rise in cyber-attacks are key restraining factors for the manufacturing predictive analytics market.

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Furthermore, advent of cloud-based predictive analytics applications and emergence of smart data-driven organizations are anticipated to provide lucrative revenue opportunities for market growth in the coming years.

Based on components, the software segment dominated the overall manufacturing predictive analytics market in 2018 and is expected to continue this trend during the forecast period. This is attributed to rise in demand for software solutions among manufacturers due to its ability to provide exquisite user interface coupled with strong connectivity approach.

Furthermore, services segment is projected to witness significant growth during the forecast period. Moreover, the on-premise segment is expected to witness highest growth, owing to increase in the deployment of on-premise predictive analytics solutions and services among large scale industries to provide high operational performance outcomes in digital transformation processes.

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The automobile end-user industry dominated the manufacturing predictive analytics market in 2018 and is expected to continue this trend during the forecast period. Further, the pharmaceutical sector is expected to witness significant growth during the forecast period as the healthcare industry is opting for digitalization solutions and is increasing traction for predictive analytics solution for R&D activities at a significant rate. Regions covered in this market research includes North America, Europe, Asia-Pacific, and LAMEA.

Some of the key market players profiled in the report include Alteryx, Inc., Bridgei2i Analytics Solutions, Cisco Systems, Inc., Fair Isaac Corporation, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc., and Tibco Software, Inc. This study includes manufacturing predictive analytics market analysis, trends, and future estimations to determine the imminent investment pockets.

Key Benefits for Manufacturing Predictive Analytics Market:

• This study includes the market analysis, trends, and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities of the market.

• The manufacturing predictive analytics market size is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.

• Porter's five forces analysis illustrates the potency of the buyers & suppliers in the market.

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