PUBLISHER: IMARC | PRODUCT CODE: 1390510
PUBLISHER: IMARC | PRODUCT CODE: 1390510
The global manufacturing analytics market size reached US$ 10.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.1 Billion by 2028, exhibiting a growth rate (CAGR) of 20.90% during 2022-2028.
Manufacturing analytics refers to the use of operations and events data and technologies to ensure quality, reduce costs, optimize supply chains, and improve performance and yield. It relies on predictive and big data analytics, industrial internet of things (IIoT), machine learning (ML), and edge computing to enable smart, scalable factory solutions. As it provides contextual awareness and actionable insights in real-time, organizations from different industry verticals are adopting manufacturing analytics to gain a competitive edge. This can also be attributed to its assistance in digitizing the business, accelerating innovation, and redefining customer experience.
Lockdowns imposed by governing agencies of numerous countries to curb the spread of the coronavirus disease (COVID-19) have resulted in supply chain disruptions and the temporary closure of various manufacturing units. As a result, manufacturing entities across the globe are deploying smart manufacturing analytics solutions to mitigate the impact of the pandemic. Manufacturing analytics assists in demand forecasting, real-time quality monitoring, and inventory management. Apart from this, rapid industrialization, the rising automation trend in industrial processes, and the growing volume of data are among the leading factors catalyzing the demand for manufacturing analytics to help companies increase overall productivity and profitability. In addition to this, the emergence of the Fourth Industrial Revolution (Industry 4.0), in confluence with the widespread adoption of advanced technologies, such as artificial intelligence (AI) and radio frequency identification (RFID), is bolstering the market growth. Moreover, it is widely used by automotive manufacturers to innovate their products and simultaneously meet stringent quality requirements. It is also gaining traction in the aerospace industry for improving proficiency and operational efficiency.
IMARC Group provides an analysis of the key trends in each sub-segment of the global manufacturing analytics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment model, application and industry vertical.
Software
Services
Cloud-based
On-premises
Predictive Maintenance
Inventory Management
Supply Chain Optimization
Others
Semiconductor and Electronics
Energy and Power
Pharmaceutical
Automobile
Heavy Metal and Machine Manufacturing
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alteryx Inc., General Electric, International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software LLC (Salesforce.com Inc.), TIBCO Software Inc., Wipro Limited and Zensar Technologies Ltd.