Press release
Manufacturing Analytics Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Manufacturing Analytics Market Share
What Is the Projected Growth of the Manufacturing Analytics Market?
Over the past few years, the size of the manufacturing analytics market has experienced significant expansion. The market, which is expected to increase from $13.97 billion in 2024 to $16.79 billion in 2025, represents a compound annual growth rate (CAGR) of 20.2%. Factors like heightened demand for operational effectiveness and cost reduction, initiatives towards enhancing quality, supply chain improvement, technological advancements in data processing and storage, the rise of cloud-based solutions, and a focus on real-time analytics played a crucial role in the growth during the historical period.
The market size of manufacturing analytics is projected to experience significant expansion in the coming years, reaching a value of $40.9 billion by 2029 with a compound annual growth rate (CAGR) of 24.9%. The surge during the forecast period is due to factors such as the integration of robotics data via analytics, the need for flexibility and scalability in analytic solutions, improved security measures for manufacturing data, optimization of energy efficiency through analytics, and progress in data visualization and reporting tools. Key trends to observe during the forecast period are regulatory compliance and reporting, emphasis on staff training/data literacy, the fourth industrial revolution (Industry 4.0) and smart manufacturing, IoT and sensor incorporation, and predictive maintenance.
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What Are the Different Manufacturing Analytics Market Segments?
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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What Are the Primary Drivers Shaping the Manufacturing Analytics Market?
The manufacturing analytics market is set to expand due to an escalated demand for process optimization. This term pertains to the reduction or complete eradication of wastage of time and resources, unnecessary expenses, bottlenecks, and errors while meeting the objectives of a process. The adoption of process optimization in the realm of manufacturing analytics offers a plethora of advantages like quicker resolution of machine-level issues, and enhanced maintenance, thereby boosting its growth and demand. For example, a study conducted by Bain & Company, a management consulting firm based in the US, revealed that by applying business process optimization strategies, 21% of the companies were able to save 10% or more. Therefore, the rising necessity for process optimization is fueling the growth of the manufacturing analytics market.
Which Companies Are Leading in the Manufacturing Analytics Market?
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
What Are the Major Trends Shaping the Manufacturing Analytics Market?
The burgeoning trend of new product innovation is becoming increasingly prevalent in the manufacturing analytics market. Firms that are major players in this market are focusing on the creation of technologically advanced software to bolster their standing within the market. Case in point, Google, a US-based tech firm, launched Manufacturing Data Engine and Manufacturing Connect via their Google Cloud Platform in May 2022. With these solutions, manufacturers can bridge the gaps between their previously disconnected assets, streamline and process their data, while also enhancing visibility from the factory floor all the way to the cloud. These solutions cater to three essential AI and analytics-based use cases, namely manufacturing analytics and insights, predictive maintenance, and machine-level anomaly detection, once the data synchronization process is completed. The Manufacturing Data Engine and Manufacturing Connect, both of which are now readily available, enable manufacturers to integrate their data and equip their workforce with straightforward analytics and AI solutions built on a cloud framework.
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What Are the Top Revenue-Generating Geographies in 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Manufacturing Analytics Market?
2. What is the CAGR expected in the Manufacturing Analytics Market?
3. What Are the Key Innovations Transforming the Manufacturing Analytics Industry?
4. Which Region Is Leading the Manufacturing Analytics Market?
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