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Top Trends Transforming the Manufacturing Analytics Market Landscape in 2025: Innovation In Manufacturing Analytics Transforming The Industry With Advanced Solution
Manufacturing Analytics Market
What Will the Manufacturing Analytics Industry Market Size Be by 2025?
The size of the manufacturing analytics market has experienced remarkable growth over the past few years. Its estimated value is expected to surge from $13.97 billion in 2024 to $16.79 billion by 2025, with a compound annual growth rate (CAGR) of 20.2%. The prominent growth during the historical period can be credited to rising demands for better operational efficiency and cost-effectiveness, initiatives aimed at improving quality, optimization of the supply chain, advancements in data handling and storage, the advent of cloud-based solutions, and a focus on real-time analytics.
What's the Long-Term Growth Forecast for the Manufacturing Analytics Market Size Through 2029?
In the coming years, the size of the manufacturing analytics market is predicted to experience significant growth, reaching $40.9 billion by 2029 with a compound annual growth rate (CAGR) of 24.9%. This projected increase during the forecast period can be credited to factors such as the enhancement of robotic data via analytics, the need for flexibility and scalability in analytics solutions, improved cybersecurity for manufacturing data, the optimization of energy efficiency through analytics, and the progress in data visualization and reporting utilities. The regulatory compliance and reporting, emphasis on employee education and data literacy, industry 4.0 and intelligent manufacturing, internet of things (IoT) and sensor unification, and predictive maintenance are the key trends to watch over the forecast period.
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What Are the Key Growth Drivers Fueling the Manufacturing Analytics Market Expansion?
The expectation for the manufacturing analytics market's expansion can be attributed to the rising requirement for process optimisation. Essentially, process optimisation involves curtailing waste of time and resources, needless expenses, and blunders, while also eradicating production bottlenecks and streamlining process objectives. The application of process optimisation in manufacturing analytics reaps numerous advantages, including a quicker issue response on a machine level, enhanced maintenance, invigorating its growth, and magnifying the demand for this procedure. For example, Bain & Company, a US-based management consulting company, found that 21% of organisations economise 10% or more through the application of business process optimisation strategies. Consequently, the surge in the demand for process optimisation fuels the growth of the manufacturing analytics market.
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What Are the Key Trends Driving Manufacturing Analytics Market Growth?
In the manufacturing analytics market, the rise of new product innovation is a trending factor. In order to solidify their market prominence, prominent businesses within the sector are making efforts to create technologically advanced software. For example, in May 2022, Google Cloud Platform, a service provided by Google, a tech company based in the US, introduced the Manufacturing Data Engine and Manufacturing Connect. These tools provide manufacturers with the ability to connect previously isolated assets, streamline and normalize data, and enhance transparency from the manufacturing floor to the cloud. These solutions facilitate three crucial AI and analytics-powered applications - manufacturing analytics and insights, predictive maintenance, and machine-level abnormality detection - following the harmonization of data. Now available, the Manufacturing Data Engine and Manufacturing Connect help manufacturers consolidate their data and equip their workforce with user-friendly analytics and AI solutions built on cloud infrastructure.
How Is the Manufacturing Analytics Market Segmented?
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 Companies Are Leading the Charge in Manufacturing Analytics Market Innovation?
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
Which Regions Are Leading the Global Manufacturing Analytics Market in Revenue?
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
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