Manufacturing Analytics Market Research Report- Forecast to 2030

Manufacturing Analytics Market Research Report Information by types (software, services), by application (predictive asset management, inventory management, supply chain analysis, power and energy), by deployment (on demand, on premise) - Forecast to 2030

ID: MRFR/ICT/0384-HCR | 145 Pages | Author: Aarti Dhapte | March 2024         

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Manufacturing Analytics Market Overview


Manufacturing Analytics Market is accounted to register a CAGR of 17.16% during the forecast period and is estimated to reach USD 29.41 Billion by 2030. Manufacturing analytics can be termed as a statistical tool that extends its help in the analysis of manufacturing data as well as information. This will help in enabling the users for better understanding as well as in the improvement, reinforcing, and identifying the best practices. With the global manufacturing analytics market trends, the workforce can identify issues as well as have an idea about the cause and effect relationship, producing, yielding, and cost. 


Market Research Future (MRFR) projects substantial gains for the manufacturing analytics market 2020 at a high rate between 2020 and 2030 (assessment period).


Covid 19 Analysis


Before the lockdown and pandemic hit the manufacturing industries, the global manufacturing industries were gaining a lot of momentum. After the first lockdown wave, there were uneven recoveries for the different manufacturers in the market. The outbreak of the COVID 19 global pandemic is also negatively influencing the global FDI inflows overall. The most vulnerable areas of service owing to the adverse effects of coronavirus are chemicals, aircraft, automobiles, and the field of electronics. 


Businesses on a global scale are attempting to take up necessary solutions and measures that are very cost-effective. The aim behind them is to generate a demand slump so that there is a boost in the market for the manufacturers to offer the best insights in the market. The manufacturing market research aims for a predicted boost for the manufacturers by the end of the first and commencement of the second quarter of 2021. Artificial intelligence (AI), augmented reality (AU), as well as, virtual reality (VR) is the sought solutions. 


Global Manufacturing Market Dynamics


Drivers 

The small manufacturing industries are showing major interest as well as investment in the infrastructure of the managers who are continuous as well as discrete. The expected industrial IoT connections are expected to reach approximately 29.41 billion by 2027. This is expected to foster both connectivities as well as digitization amongst the manufacturing enterprises. 


Opportunities 

The global manufacturing analytics market has been exposed to different kinds of competitions and uncertainties related to raw material and energy. The operational costs are counted as well. The result of this is that they are looking for opportunities to reduce the cost and mold the enterprises that are efficient as well as accelerated in providing the desired quality of the product to the consumers. The use of smart industrial solutions is being adapted on a large scale along with developments and enhancements in the areas of automation and connectivity. 


Restraints 


To keep and maintain the international standards, there is a need for up-gradation and modernization concerning the systems for legacy control. The continuous need for investment and capital, new skills, along effective data security are some of the major restraints. These transitory restraints and challenges can be challenged with the help of improvised technology and significant investments. 


Technology Analysis 


Enabling technology like conditioning monitory, making use of artificial intelligence, internet of things (IoT), industrial 3D printing as well as digital twinning are going to fetch benefits. Another major emergency is information technology like MES, PAM, HMI as well as WMS. The marketing analytics marketing research is estimated to grow at a high CAGR of 16% in the year 2027. Many factors in the market will help in boosting the growth and automation of the manufacturing processes on a global level. Also, it has been witnessed that the government is supporting industries in regulating their compliances, increase and changes in supply chain management, steps for a reduction in time and cost, and much more. 


Market Segmentation


For the marketing market research, the global manufacturing analytics market is bifurcated in many ways owing to the difference in demand, supply, and operations. This segmentation is done based on the application and types, industries of the end-user as well as deployment model. 


In May 2023, TEKsystems Global Services launches TEKsystems AMPGSTM Modern Manufacturing Analytics, a pre-built solution for the Manufacturing Data Cloud by Snowflake. This collaboration empowers manufacturers in various sectors to unlock and leverage critical industrial data for digital transformation. The Snowflake Manufacturing Data Cloud facilitates secure collaboration across the value chain, enhancing agility and visibility. TEKsystems, a Snowflake Elite Partner, contributes to industry 4.0 initiatives with AI-driven insights, addressing manufacturing challenges through improved data utilization and digitization. The solution enables faster innovation, better visibility, and cost reduction in manufacturing processes, emphasizing TEKsystems' commitment to embracing industry advancements.


In May 2023, Rootstock Software's Spring '23 Release introduces Enterprise Insights, a purpose-built analytics solution for manufacturing. It offers five modules, including sales, spend, inventory, manufacturing, and financial analytics, enhancing operational and financial decision-making.


In January 2023, Datanomix partners with Hexagon to provide its Automated Production Intelligence software to global manufacturing customers. Datanomix's No Operator Input approach simplifies production monitoring, offering automated benchmarks and real-time insights for enhanced efficiency, utilization, and continuous improvement. Hexagon's customers gain easier access to Datanomix's solution, with plans for joint development and integration of new data sources. The partnership aligns with Hexagon's vision for autonomous manufacturing and Datanomix's commitment to automated production insights. Hexagon will offer Datanomix's solution as part of its Production Software portfolio, catering to North American and European customers.


In January 2021, Quantzig launches an enhanced portfolio of industrial manufacturing analytics solutions to address sector challenges. Leveraging data-driven insights, the solutions optimize production, foster digital transformation, and achieve operational excellence for clients.


Competitive Landscape 


The prominent and emerging leaders in the manufacturing analytics market research are stated as follows: 



  • Oracle Corporation (Redwoods, Silicon Valley, California)

  • SAP SE

  • Emerson Electric (US)

  • SAS Institute 

  • IBM (NYC)

  • Tableau Software 

  • ABB (Switzerland)

  • Rockwell (US)

  • Zensar Technologies Limited (Pune, India)


Many global manufacturing companies along with dealing with the adverse effects of the global pandemic are gearing up and opting for strategies for a better comeback. 


IBM is one of the most competitive and promising companies in the market that is taking into consideration the qualitative and quantitative aspects of the experts and leaders. They are aiming to get an insight into the market and thus are improving on the industry performance. 


Recent Developments in the Global Manufacturing Analytics Market Research



In May 2023, TEKsystems Global Services launches TEKsystems AMPGSTM Modern Manufacturing Analytics, a pre-built solution for the Manufacturing Data Cloud by Snowflake. This collaboration empowers manufacturers in various sectors to unlock and leverage critical industrial data for digital transformation. The Snowflake Manufacturing Data Cloud facilitates secure collaboration across the value chain, enhancing agility and visibility. TEKsystems, a Snowflake Elite Partner, contributes to industry 4.0 initiatives with AI-driven insights, addressing manufacturing challenges through improved data utilization and digitization. The solution enables faster innovation, better visibility, and cost reduction in manufacturing processes, emphasizing TEKsystems' commitment to embracing industry advancements.


In May 2023, Rootstock Software's Spring '23 Release introduces Enterprise Insights, a purpose-built analytics solution for manufacturing. It offers five modules, including sales, spend, inventory, manufacturing, and financial analytics, enhancing operational and financial decision-making.


In January 2023, Datanomix partners with Hexagon to provide its Automated Production Intelligence software to global manufacturing customers. Datanomix's No Operator Input approach simplifies production monitoring, offering automated benchmarks and real-time insights for enhanced efficiency, utilization, and continuous improvement. Hexagon's customers gain easier access to Datanomix's solution, with plans for joint development and integration of new data sources. The partnership aligns with Hexagon's vision for autonomous manufacturing and Datanomix's commitment to automated production insights. Hexagon will offer Datanomix's solution as part of its Production Software portfolio, catering to North American and European customers.


In January 2021, Quantzig launches an enhanced portfolio of industrial manufacturing analytics solutions to address sector challenges. Leveraging data-driven insights, the solutions optimize production, foster digital transformation, and achieve operational excellence for clients.



Global Manufacturing Analytics Market Research Report Overview 


The full report is inclusive of the following: 



  • Market Overview 

  • Covid 19 analysis 

  • Market dynamics 

  • Technology analysis 

  • Segmentation Overview 

  • Regional analysis 

  • Competitive landscape 

  • Recent developments


Segmentation Table 


The research has resulted in a segmentation of the global manufacturing analytics market report based on components, use, technology as well as region. 


Europe Components 


Hardware, software, services 


Technology 


3D printing, machine execution systems, plant asset management, product lifestyle management, human-machine interference, and much more


Use 


Automotive, defense, oil and gas, healthcare, aerospace, industrial equipment, food, chemicals, agriculture, materials, etc


Region 


North America, Europe, Asia Pacific, Latin America


Report Scope:

Report Attribute/Metric Details
  Market Size   USD 29.41 Billion (2030)
  CAGR   17.16% (2030)
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   types, application and deployment
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Computer Science Corporation (CSC), Zensar Technologies Ltd., SAS Institute, Inc., Oracle Corporation, SAP SE, IBM, Tableau Software, Statsoft, Inc. 1010data, Inc., Alteryx
  Key Market Opportunities   Improvements, identification and reinforcement of the best practices
  Key Market Drivers   Growth and development of manufacturing companies.




Frequently Asked Questions (FAQ) :

The high rate of digital transformation, rising investments in analytics, and the surging demand for location data & remote services and real-time data to monitor and track the spread of novel coronavirus are major tailwinds pushing the growth of the global manufacturing analytics market.

Stringent regulations and high prices are major growth impeders for the global manufacturing analytics market.

North America holds the largest share in the global manufacturing analytics market, followed by Europe, and the Asia Pacific region, respectively.

Oracle Corporation (U.S.), Wipro Limited (India), SAP SE (Germany), Zensar Technologies Ltd. (India), 1010Data (U.S.), Dell Statsoft (U.S.), Alteryx (U.S.), Tibco Software (U.S.), IBM Corporation (U.S.), Computer Science Corporation (U.S.), Tableau Software (U.S.), and SAS Institute (U.S.), are some of the top players operating in the global manufacturing analytics market.

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global Manufacturing analytics market adopt to gain a larger competitive advantage.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major playersโ€™ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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