+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free

Manufacturing Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Pre Book Price: $ 5216

Original Price: $ 5795

Manufacturing analytics is a statistical tool which performs rule-based analysis to improve business processes and production quality. Data analytics is into various other industrial domains which include banking, financial services and insurance (BFSI), e-commerce, among others. However, increasing pressures to reduce manufacturing cost, meet federal norms, supply-chain requirements, global competition, and improve operating income has seen high adoption of data analytics in manufacturing sector in recent past. Additionally, with manufacturing companies adopting process improvement programs which includes Lean Manufacturing, supervisory control and data acquisition system (SCADA), and Six Sigma has improved the adoption of manufacturing analytics. Moreover, with huge data being generated from the networked industry equipment and automation systems i.e. industry internet of things (IIoT) has resulted in strong demand of analytics in manufacturing sector. Manufacturing analytics gathers data from geographically distributed resources, programmable logic controllers (PLC’s), historians and provide organized and modeled analysis. 

Manufacturing analytics market is segmented on the basis of deployment of manufacturing analytics software, service type and end-use industry. On the basis of software deployment type, manufacturing analytics market is further categorized as on-premise and hosted. On-premise manufacturing analytics tool allow installation and service of these software suite at client side. Mostly, on-premise manufacturing analytic tool require high cost of operation in comparison to the hosted model. Hosted model provide all the necessary services and hardware installments at provider’s end and stores data in cloud storage. This reduces overall total cost of operation (TCO) and improves bottom line of any manufacturing company. In terms of service type, manufacturer analytics market is further categorized into managed services and professional services. Professional services include installation, maintenance and consulting. As stated earlier that, data analytics was initially developed for specific industries; data analytics in various manufacturing verticals has started adopting these manufacturing analytics tools to boost their business growth. Thus, based on end-use industry, manufacturing analytics market is further segmented into automotive, electronic equipment and appliance manufacturing, heavy industries, food and beverage, and others (pharmaceutical and retail). 

Present methods to analyze manufacturing process data are fading out due to increasing multiple industry data sources such as in-factory databases, images, sensor, among others have increased the demand for big data analytics in manufacturing. This factor is among the strongest growth drivers of manufacturing analytics market. Moreover, uprising demand to optimize business process and make them more agile and scalable is further paving the growth of manufacturing analytic software in manufacturing sector. However, complex operation and low return on investment from manufacturing analytics tools is hindering its market growth. Furthermore, technical constraints related with cloud deployment such as data security and privacy is likely to curb its market growth. With large pool of manufacturing industries still remain unaware with need of big data analytics to improve the operational profit especially in nascent economies such as China, India and Brazil; this provide strong business opportunity for the software tool manufacturers. Alongside this, development of low cost manufacturing analytics tools which can meet the demand of small and medium enterprises, showcases a huge market opportunity for the vendors.

On the basis of deployment model, cloud-based manufacturing analytics tools is likely to witness a strong growth in coming years. The low TCO and improving cloud security are expected to the key factors complementing the growth of cloud based manufacturing analytics tools. Presently, North America is likely to dominate the manufacturing analytics market. The early adoption of these tools among manufacturing sector is the prime factor behind the growth of this market in the region. However, with significant presence of manufacturing sector especially heavy industries, Asia Pacific region is expected to be the front-runners in the growth of manufacturing analytics market.

Some of the major vendors operating in manufacturing analytics market are tableau software, Inc., StatSoft, Inc., QlikTech International AB, Tata Consulting Services Ltd., SAS Institue, Inc., Sisense Inc., Predixion Software, Inc., SAP SE, IBM Corporation, General Electric Company, Wipro Ltd., Aegis Industrial Software Corporation, GEMINI Software Solutions Pvt. Ltd., and TIBCO Software, Inc.      

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological breakthroughs 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa) 


TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market. 

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


To receive discount, please click on the button below.

Please click on the button below to customize this report.

 
 
Back To Top