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Comprehensive Manufacturing Analytics Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Manufacturing Analytics Market
The anticipated growth of the manufacturing analytics market is largely due to the escalating demand for process optimization. Essentially, process optimization refers to the minimization or eradication of waste in terms of resources and time, unnecessary costs, bottlenecks, and errors to efficiently meet process objectives. The integration of process optimization within manufacturing analytics brings the added advantage of allowing quicker problem resolution at the machine level, enhancing maintenance and thus, boosting its growth and generating more demand for this practice. As an exemplar, Bain & Company, an American management consulting business, found that through the use of business process optimization strategies, 21% of firms achieved 10% or more savings. As a result, the surging need for process optimization is stimulating the expansion of the manufacturing analytics market.
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What Is the projected market size and growth rate for the manufacturing analytics market?
The size of the manufacturing analytics market has expanded significantly in recent times. Predictions suggest this market will see a rise from $13.97 billion in 2024 to $16.79 billion in 2025, indicating a compound annual growth rate (CAGR) of 20.2%. Factors contributing to this upward shift during the historical period include a higher necessity for operational efficiency and cost decreases, initiatives to enhance quality, betterment in supply chain operations, progress in data management and storage, the rise of cloud-based platforms, and a focus on real-time analysis.
In the upcoming years, the manufacturing analytics market size is anticipated to undergo significant exponential growth. It is projected to escalate to $40.9 billion in 2029, with a compound annual growth rate (CAGR) of 24.9%. This growth in the projected period is credited to various factors such as the enhancement of robotics data through analytics, the requirement for flexibility and scalability in analytics solutions, improved cybersecurity measures for manufacturing data, optimization of energy efficiency through analytics, and breakthroughs in data visualization and reporting tools. Some significant trends in the forecast period encompass regulatory compliance and reporting, emphasis on employee training and data literacy, industry 4.0 and smart manufacturing, IoT and sensor integration, and predictive maintenance.
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What new trends are reshaping the manufacturing analytics market and its opportunities?
The surging trend of innovations in new products is becoming increasingly significant in the manufacturing analytics sector. Many key players in this market are channeling their efforts towards designing sophisticated software with the aim of consolidating their market foothold. For example, in May 2022, Google Cloud Platform, a product of the American technology firm, Google, unveiled its Manufacturing Data Engine and Manufacturing Connect. These introduce manufacturers to the possibility of linking previously disjointed assets, normalizing and processing data, and enhancing visibility from the production floor to the cloud. The implementations catalyze three crucial AI and analytics-based applications - manufacturing analytics and insights, anticipatory maintenance, and machine-level anomaly detection - once data harmonization is accomplished. Manufacturing Data Engine and Manufacturing Connect, now readily available, aid manufacturers in amalgamating their data and equipping their workforce through straightforward analytics and AI solutions rooted in cloud infrastructure.
What major market segments define the scope and growth of the manufacturing analytics market?
The manufacturing analytics market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment: Cloud, On Premise
3) By Application: Predictive Maintenance, Inventory Management, Supply Chain Optimization, Other Applications
4) By Industry Vertical: Semiconductor And Electronics, Energy And Power, Pharmaceutical, Automobile, Heavy Metal And Machine Manufacturing, Other Industry Verticals
Subsegments:
1) By Software: Analytics Software, Visualization Software, Reporting Software, Predictive Analytics Software
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services
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Which region dominates the manufacturing analytics market?
North America was the largest region in the manufacturing analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the manufacturing analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the manufacturing analytics industry growth?
Major companies operating in the manufacturing analytics market include 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, MachineMetrics Inc., Lantek, General Electric Company, Dell Technologies Inc., Zensar Technologies Ltd, Northwest Analytics Inc., DXC Technology Company, QlikTech Inc., Microsoft Corporation, Siemens AG, Hitachi Ltd, Rockwell Automation Inc., Honeywell International Inc., Schneider Electric SE, PTC Inc., Sight Machine Inc., InfinityQS International Inc., Epicor Software Corporation
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What Is Covered In The Manufacturing Analytics Global Market Report?
•Market Size Forecast: Examine the manufacturing analytics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the manufacturing analytics market for a structured understanding.
•Key Players Overview: Analyze major players in the manufacturing analytics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the manufacturing analytics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the manufacturing analytics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the manufacturing analytics market.
•Industry Challenges: Identify potential risks and obstacles affecting the manufacturing analytics market.
•Competitive Landscape: Review strategic developments in the manufacturing analytics market, including expansions, agreements, and new product launches.
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