Global Industrial Analytics Market: Overview

Industrial analytics has come to occupy an increasingly significant role in smart, automated manufacturing processes in various industry verticals. It is a key component of industrial internet of things (IIoT) and received considerable attention with the advent of fourth industrial revolution, Industry 4.0. The benefit of real-time optimization and value addition to enterprise processes, especially for manufacturing sectors, is a compelling proposition driving the evolution of the global industrial analytics market. Various software and tools encompassed by industrial analytics pertain to areas such as operational, customer, marketing, risk, financial, and workforce. The products encompass data-based business models and data analytics techniques for analysing industrial data. Advanced systems use real-time large scale distributed computing. The various applications include predictive, prescriptive, diagnostics, and descriptive.

Small and medium-scale enterprises in various regions are increasingly demanding industrial analytics on cloud models as a cost-effective way of deployment. The adoption of the industrial analytics tools enables them to embed analytics across the value chain.

Various assessments presented in the study takes a critical look at the role of the various growth dynamics on the general contours of the industrial analytics market. The insights are helpful for forming a clear view of the evolution trajectories of the global market.

Global Industrial Analytics Market: Trends and Opportunities

The rising demand for business intelligence tools in various industry verticals, especially in the retail and manufacturing industries, is a key factor supporting the steady expansion of the industrial analytics market. The rapid stride made by IIoT, especially in developing economies, is a key trend boosting the market. The rising demand for customer analytics among businesses to gain real-time insights into customer’s buying preferences is a notable factor bolstering the uptake of industrial analytics. The adoption of industrial analytics is gathering traction across manufacturing vertical and the key benefits garnered are improvement in product lifecycle and increasing their effectiveness of return on investment (RoI).

The global industrial analytics market is benefitting from the rising use of predictive algorithms in real time by prominent retail companies such as Amazon and E-bay. The advent of high-end distributed computing technologies in predictive analytics is also boosting the market. The advent of artificial intelligence technologies in industrial analytics is creating new, lucrative avenues for vendors, world over.

Global Industrial Analytics Market: Regional Outlook

The study zeroes in on key regional end-use trends expected to unlock promising prospects in the market. Some of key regional markets for industrial analytics could be North America, Asia Pacific, Latin America, Europe, and the Middle East and Arica. Of these, North America has emerged as substantially lucrative over the past few years. This can be attributed to several industry verticals being early adopters of industrial analytics software and tools. Rapidly rising popularity of business intelligence tools are propelling the demand in developing regions.

Key Players Mentioned in the Report

The study sheds light on the impacts of recent mergers and acquisitions, collaborations and partnerships, and funding initiatives by various industry players to strengthen their positions in the industrial analytics market. Some of the key players operating in the market are General Electric, IBM Corporation, Microsoft Corporation, PTC, Inc., SAS Institute, , Cisco Systems, Inc.,  Intel Corporation, Hitachi, Ltd., and TIBCO Software, Inc.

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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.

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Global Industrial Analytics Market

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