Press release
Strong Growth Ahead: Industrial Analytics Market Size To Grow At Arecord 19.3% Cagr By 2029
Industrial Analytics
What Is the Projected Growth of the Industrial Analytics Market?
The size of the industrial analytics market has expanded significantly in the past years. The estimated rise is from $29.82 billion in 2024 to $34.23 billion in 2025, with a compound annual growth rate (CAGR) of 14.8%. Factors contributing to the increase in the historical period include efficiency and optimization, predictive maintenance, cost-reducing strategies, globalization, and supply chain optimization, along with regulatory compliance.
The size of the industrial analytics market is predicted to noticeably increase in the upcoming years, reaching a valuation of $69.37 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 19.3%. This anticipated growth during the projected period can be credited to factors such as increasing focus on cybersecurity, the incorporation of edge computing, and customization for unique industry requirements. The forecast period also forecasts key trends such as the assimilation of sensor technologies, the adoption of industry 4.0, the integration of digital twins, the introduction of IoT sensors, and enhanced cybersecurity for industrial systems.
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What Are the Different Industrial Analytics Market Segments?
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
Subsegments:
1) By Predictive Analytics: Forecasting Maintenance Needs, Predicting Equipment Failures, Demand Forecasting
2) By Prescriptive Analytics: Optimization Of Operations, Resource Allocation Strategies, Supply Chain Management Recommendations
3) By Descriptive Analytics: Reporting And Visualization Tools, Historical Data Analysis, Key Performance Indicator (KPI) Tracking
4) By Diagnostic Analytics: Root Cause Analysis, Anomaly Detection, Performance Analysis
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What Are the Primary Drivers Shaping the Industrial Analytics Market?
The industrial analytics market is predicted to flourish owing to the escalating demand from the e-commerce industry. Factors such as the wide spread use of smartphones, ease and cost-effective access to technology, and the flexibility of shopping anytime and from any location are behind the recent boom in online commerce. Additionally, the pandemic of COVID-19 necessitated remote work and operations, resulting in an increased reliance on e-commerce platforms for goods and services. As reported by The United States Census Bureau, a US Government Agency, retail e-commerce sales amounted to an estimated $284.1 billion in the third quarter of 2023 (November); this is a significant increase of 7.8% compared to the same time period in 2022. As a result, the thriving demand for e-commerce is propelling the growth of the industrial analytics market.
Which Companies Are Leading in the Industrial Analytics Market?
Major companies operating in the industrial analytics market include 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.
What Are the Major Trends Shaping the Industrial Analytics Market?
Leading corporations in the industrial analytics market are crafting innovative software solutions such as analytics enterprise, as a way to boost their market profitability. The term "analytics enterprise" refers to a specific software or technology that delivers centralised data management, analysis tools, and workflow automation for businesses. An example of this occurred in November 2022, when The International Business Machines Corporation, a technology provider based in the US, unveiled IBM Business Analytics Enterprise. This offering is designed to assist firms in breaking down data and analytic barriers, with the ultimate aim to accelerate data-driven decision-making processes and boost resilience in dealing with unexpected challenges. IBM Business Analytics Enterprise provides an integrated performance perspective, features personalised dashboards, and leverages AI-powered analytics for precise forecasting, content recommendations based on roles, and optimised and controlled workflows. This advanced suite comprises of data mining, reporting, forecasting, talent pipeline management, and sophisticated data cleaning and visualisation functions.
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What Are the Top Revenue-Generating Geographies in the Industrial Analytics Market?
North America was the largest region in the industrial analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial 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 Industrial Analytics Market?
2. What is the CAGR expected in the Industrial Analytics Market?
3. What Are the Key Innovations Transforming the Industrial Analytics Industry?
4. Which Region Is Leading the Industrial Analytics Market?
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• 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…
