Press release
Explosive Growth Expected in Manufacturing Analytics: Market Poised to Reach $16.79 Billion in 2025 to $40.9 Billion by 2029
Manufacturing Analytics Market
What Is The Projected Market Size Of The Global Manufacturing Analytics And Its Growth Rate?
The global manufacturing analytics market demonstrates exponential growth potential with:
- 2024 Market Size: $13.97 billion
- 2025 Market Size: $16.79 billion (20.2% CAGR)
- 2029 Market Size: $40.9 billion (24.9% CAGR)
Primary drivers include advancements in data processing, emergence of cloud-based solutions, emphasis on real-time analytics, and the surge in demand for operational efficiency and cost reduction.
What Is Driving The Growth In The Manufacturing Analytics Market?
A critical factor driving the manufacturing analytics market growth is the growing need for process optimization. This entails the minimization of time and resource wastage, unnecessary costs, bottlenecks, and errors by providing faster response to issues at the machine level, and improved maintenance. As per a study by Bain & Company, 21% of companies saved 10% or more using business process optimization strategies likening process optimization in manufacturing analytics as a growth catalyst.
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Who Are the Key Players Driving Manufacturing Analytics Growth?
The progress and expansion of the manufacturing analytics market can be attributed to leading companies such as:
- SAP SE
- Oracle Corporation
- SAS Institute Inc.
- Tableau Software Inc.
- TIBCO Software Inc.
- International Business Machines Corporation
- Alteryx Inc.
- Sisense Inc.
- Wipro Limited
- Bridgei2i Analytics Solutions
- Cisco Systems Inc.
- FICO
- Domo Inc.
- Neubrain Solutions Private Limited
- Aegis Software
What Are The Key Trends In The Manufacturing Analytics?
Developing trends in the manufacturing analytics market comprise of:
- Regulatory compliance and reporting
- Focus on employee training and data literacy
- Industry 4.0 and smart manufacturing
- IoT and sensor integration
- Predictive maintenance
What Are The Segments Of The Global Manufacturing Analytics?
The global manufacturing analytics market is segmented by:
- Component: Software, Services
- Deployment: Cloud, On Premise
- Application: Predictive Maintenance, Inventory Management, Supply Chain Optimization, Other Applications
- Industry Vertical: Semiconductor And Electronics, Energy And Power, Pharmaceutical, Automobile, Heavy Metal And Machine Manufacturing, Other Industry Verticals
Which Region Leads The Manufacturing Analytics?
North America dominated the manufacturing analytics market in 2024. However, Asia-Pacific is anticipated to be the fastest-growing region in the upcoming years. The manufacturing analytics market spans across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Manufacturing Analytics Global Market Report?
- Market Size Analysis: Analyze the Manufacturing Analytics size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Manufacturing Analytics for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Manufacturing Analytics growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Manufacturing Analytics.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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