Manufacturing Analytics Market Size, Trends, Industry Growth And Forecast 2023-2028

IMARC Group, a leading market research company, has released a report titled “Manufacturing Analytics Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028“. According to the report, 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 20.8% during 2023-2028.

Manufacturing analytics collects and manipulates large amounts of data to achieve actionable insights in real-time. It relies on edge computing, predictive and big data analytics, industrial internet of things (IIoT), machine learning (ML), and to enable smarter, scalable factory solutions. Nowadays, manufacturing analytics is widely implemented across different industry verticals to ensure quality, enhance performance, increase yield, reduce costs, and optimize supply chains.

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Manufacturing Analytics Market Trends and Drivers:

The global manufacturing analytics market is primarily driven by emerging automation trends in industrial processes and the growing volume of data. Manufacturing analytics help companies increase overall productivity and profitability. Besides this, the spread of the coronavirus disease (COVID-19) has resulted in supply chain disruptions and the temporary closure of various manufacturing units due to the imposition of lockdown by various governing agencies. This has prompted manufacturing entities across the globe to deploy smart manufacturing analytics solutions to mitigate the impact of the pandemic. On account of these factors, the market is anticipated to witness positive growth in the coming years.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Component:

Software
Services

Breakup by Deployment Model:

Cloud-based
On-premises

Breakup by Application:

Predictive Maintenance
Inventory Management
Supply Chain Optimization
Others

Breakup by Industry Vertical:

Semiconductor and Electronics
Energy and Power
Pharmaceutical
Automobile
Heavy Metal and Machine Manufacturing
Others

Market Breakup by Region:

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

Competitive Landscape with Key Player:

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
Zensar Technologies Ltd.

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