Market Research Future (MRFR) report on the global manufacturing analytics market is a
comprehensive evaluation that provides a rigorous overview of the field. The
report covers the COVID-19 analysis of the global manufacturing analytics
market and provides a systematic and detailed explanation of market segments,
recent developments, growth projections, and market challenges from 2019 to
2027 (forecast period) to identify economic opportunities.
Manufacturing Analytics is an application that allows manufacturing
companies to understand machine data. Manufacturing analytics performs tasks,
including data acquisition, calculating the manufacturing KPIs, filtering and
contextualizing data, and generating role-based visualizations &
dashboards. Manufacturing analytics is used to improve process performance,
centralize production monitoring, turn real-time data into just-in-time
insights, and better serve customers. Manufacturing analytics helps businesses
achieve more cost-effective production by tracking and analyzing and improving
client experience. Manufacturing analytics also allows optimized business
operations to attain full-cycle visibility across business data and hardware.
Market Dynamics
The rise in the adoption of Industrial IoT, the increase in investment
in big data for manufacturing, and the increase in the need for process
optimization are some of the main factors pushing the growth of the market for manufacturing
analytics. Nevertheless, the lack of integration with legacy systems and the
shortage of qualified workforce are some of the significant aspects that
restrict the growth of the manufacturing analytics market. Furthermore,
advanced technologies like VR and AR with manufacturing analytics are expected
to create new opportunities for the demand for manufacturing analytics.
Market Segmentation
For a better understanding of the report, the global manufacturing
analytics market has been segmented on the basis of types, application,
deployment mode, and end-user industries.
Based on types, the global manufacturing analytics market has been
segmented into software and services. Services have been further segmented into
managed and professional.
On the basis of application, the global manufacturing analytics market
has been segmented into predictive asset management, power and energy,
inventory management, supply chain analysis, emergency, sales & customer
support, and others.
Based on deployment, the global manufacturing analytics market has been
segmented into on-demand and on-premise.
Based on end-users, the global manufacturing analytics market has been
segmented into electronics equipment manufacturing industries, automotive and
aerospace manufacturing industries, chemicals and materials manufacturing
industries, food and beverages manufacturing industries, pharma and life
science industry, machinery and industrial equipment manufacturing industries,
paper, pulp, plastic, and rubber manufacturing industries and others.
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Regional Analysis
Region-wise, the global manufacturing
analytics market has been segmented into North America, Asia Pacific, Europe,
and the Middle East & Africa.
North America is projected to be the
largest manufacturing analytics market in the forecast period, followed by
Europe. The rise of the manufacturing analytics market in this area is due to a
high emphasis on innovations through research and development and technology
upgrades such as big data and cloud services across different manufacturing
industries. The market is expected to see the fastest growth in the Asia
Pacific during the forecast period.
Key Players
The industry giants in the global
manufacturing analytics market are- Computer Science Corporation (CSC), Zensar
Technologies Ltd., Tableau Software, SAS Institute, Inc., Oracle Corporation,
SAP SE, IBM, Statsoft, Inc. 1010data, Inc., Alteryx, Inc., among others.
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