Industrial Analytics Market Shares, Strategies and Forecast Worldwide, 2017 to 2025

Industrial Analytics (IA) refers to the process of collecting, analyzing and using the data produced during industry operations throughout the entire product lifecycle. Industrial analytics is relevant to any company that is involved in the manufacturing and selling of physical products. Industry analytics involves traditional methods of data capture and statistical modeling. Industrial analytics is the locomotive that turns machine data into actionable insights, driving efficient industry operations and business processes. Organizations across industry vertical are using various tools and systems to collect data from customers and industry professionals to analyze business performance at regular interval. Industrial analytics can be done with the various approaches such as with the help of data modeling or self-service. In data modelling, data scientists model the data by analyzing pre-existing data. In self-service approach there is no requirement to model the data. It also saves huge cost as no software is required by data scientists and also there are no project timelines.  

Request Sample Copy of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=30524
The factory or system to be considered under industry 4.0 should have information transparency, interoperability, technical assistance, and decentralized decision-making features. Machines, sensors, devices and people connecting and communicating with each other is considered under interoperability feature. Information transparency is system analyzing of sensor data in order to contextualize information by creating a virtual copy of physical world having both the ability of assisting humans with difficult tasks and supporting them in making critical decisions which are quite difficult for humans.

The digital transition is expected to significantly transform the companies backed by considerable investments. The industry experts estimates the investments share in industry 4.0 solutions is expected to account above 50% of planned capital investments for the next five years. Germany industrial sector is expected to invest about US$ 47 billion each year by 2020 in industry 4.0.

The interconnection and digitization of services and products supports the industry 4.0 demand as it is expected to contribute strongly for ensuring competitiveness by promising additional 2% to 3% average revenue growth per year. Emerging disruptive digital business models is also expected to drive the fourth revolution industry over the forecast timeline. These business models offer tailor-made solutions offering additional value to the consumers. These new business models are categorized by the significant increase of horizontal cooperation across the ecosystem, as well as integrated analysis of data thereby capable of fulfilling customer requirements.

Data security issues raised by the integration of new systems and their access poses challenges to the industry 4.0 market over the forecast timeline. Moreover, high degree of stability and reliability are needed for successful physical-cyber communication which can be difficult to maintain and achieve. Maintaining production integrity with less human oversight can become potential barrier for this industry. Loss of human jobs is a major concern with the introduction of new automations along with constant threat of technical problems causing excessive production outages.

The industry 4.0 market can be segmented by technology into cyber security, industrial robotics, 3D printing, internet of things (IoT), advanced human machine interface (HMI), big data, artificial intelligence and augmented reality & virtual reality. Industrial robotics is an important segment of industry 4.0 market owing to their improved productivity, increased production volume, and reduced human error chances. Increasing automobile demand, especially from developing regions has encouraged the manufacturers to adopt automation for meeting supply demand by increasing the production volumes.

By application, the industry can be classified into electrical & electronics equipment, automotive, aerospace, industrial equipment, food & agriculture, energy & power, oil & gas, and healthcare. Industrial equipment manufacturing involves production of various machinery used in construction, defense, or other manufacturing applications. Stamping, forming, bending, and machining some of the important processes used for shaping individual metal pieces. Increasing need for preventive maintenance solutions is supporting this segment as unplanned downtime and machine breakdowns leads to the production processes delay causing huge losses to the industrial equipment manufacturers.

The prominent competitors in industry 4.0 market are International Business Machines Corporation, General Electric Company, Stratasys Ltd., ABB Ltd., Alphabet Inc., Mitsubishi Electric Corporation, Hewlett-Packard Enterprise Company, Intel Corporation, Qualcomm Inc., Siemens AG, Samsung Electronics Co. Ltd., Rockwell Automation Inc., Texas Instruments Inc., 3D Systems Corporation, Basler AG, Cognex Corporation, and Denso Corporation.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

Request TOC of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=T&rep_id=30515

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

U.S. OFFICE:
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States

Tel: +1-518-618-1030
Email: sales@transparencymarketresearch.com

This release was published on openPR.