Our latest research report entitled Manufacturing Analytics Market (by type (software, and services), application (inventory management, sales, and customer management), industry vertical (electronics and aerospace manufacturing, food and beverages manufacturing, pharma and life sciences, paper)) provides complete and deep insights into the market dynamics and growth of Manufacturing Analytics.
The latest information on market risks, industry chain structure Manufacturing Analytics cost structure, and opportunities are offered in this report. The past, present, and forecast market information will lead to investment feasibility by studying the essential Manufacturing Analytics growth factors.
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Rising Development of the Industrial Internet of Things Led to A Rise in Demand for Manufacturing Analytics
Manufacturing analytics helps manufacturing companies to understand machine data. It includes functions such as data acquisition, filtration, and contextualization of the data, calculation of manufacturing KPIs, and then the generation of role-based visualization and dashboards. It is used to increase process efficiency, centralize production monitoring, turn real-time data into just in tome insights, and better serve the customers. It promotes cost-effective production through monitoring and analysis.
The growing need for process optimization drives the expansion of the manufacturing analytics market. The manufacturing analytics market is highly influenced by the adoption of advanced data management strategies across a variety of manufacturing applications.
Further, the rising development of the industrial Internet of Things led to a rise in demand for manufacturing analytics. In 2019, Hitachi Vantara brought Industrial IoT to the production floor with Lumada manufacturing insights.
The Internet of Things solutions empowers the manufacturing industry that helps to achieve transformative outcomes from data-driven insights. It optimizes machine, production, and quality outcomes that set the foundation of digital innovation in the manufacturing sector.
Data analytics in manufacturing sector helps to meet federal norms, supply chain requirements, global competition, reduce manufacturing costs, and improve operating income. The growing demand for big data analytics in the manufacturing sector is attributed to the rising multiple industry data sources such as sensors, images, in-factory databases, and others.
Additionally, the manufacturing industry is rapidly adopting various process improvement programs such as lean manufacturing, data acquisition system, supervisory control, and six sigma. This has improved the adoption of manufacturing analytics. Furthermore, the rise in investments on big data in the manufacturing sector contributes to the expansion of the manufacturing analytics market.
On the flip side, lower return on investment hinders the growth of the manufacturing analytics market. Moreover, technological development and increasing cloud adoption trends create numerous opportunities in the global manufacturing analytics market.
North America is Expected to Account for the Major Share
Geographically, the global manufacturing analytics market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to account for the major share in the global manufacturing analytics market. The presence of leading market players and rising awareness about advanced technologies in North America led to the expansion of the manufacturing analytics market in North America.
Asia-Pacific region is anticipated to grow in the global manufacturing analytics market with a healthy CAGR over the forecast period. The growth of the manufacturing analytics market in Asia-Pacific is attributed to the increasing awareness about manufacturing technologies among manufacturing companies. Europe has a significant growth rate in the global manufacturing analytics market due to the adoption of smart manufacturing techniques in the region.
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Report on Global Manufacturing Analytics Market Covers Segments Such As Type, Application, and Industry Vertical
On the basis of type, the sub-markets include software and services. On the basis of application, the sub-markets include inventory management, energy management, sales and customer management, emergency management, predictive maintenance and asset management, supply chain planning and procurement, and other applications.
On the basis of industry vertical, the sub-markets include electronics and aerospace manufacturing, food and beverage manufacturing, chemicals and materials manufacturing, pharma and life sciences, paper, pulp, plastic, and rubber manufacturing, and other industries.
The report provides profiles of the companies in the market such as SAS Institute, Inc., Computer Sciences Corporation, TIBCO Software, Inc., StatSoft, Inc., Oracle Corporation, Zensar Technologies Ltd., Tableau Software, SAP SE, International Business Machine Corporation, Alteryx, Inc., and Other companies.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/industry-automation/global-manufacturing-analytics-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Manufacturing Analytics.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market.
- The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand, and/or diversify.