Worldwide Manufacturing Analytics Market – Analysis and Future Scope
In the report, “Global Manufacturing Analytics Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast ” added by DecisionDatabases.com the market overview, market size; growth trends and future prospects are elaborately covered. The report incorporates the manufacturing analytics market analysis on the basis of types, applications, deployment model and industry verticals. The report offers details about the drivers, restraints and growing opportunity in the manufacturing analytics industry.
In the changing business scenario, the rising globalization and high margin pressure are creating major demand for manufacturers to find advanced and innovative ideas to improve performance and better the decision-making strategy, and this has led to the emergence of manufacturing analytics in the business. Manufacturing analytics is an all-encompassing approach which finds applications in a broad range of business domains, from supply chain to product development and finance to marketing. Manufacturing analytics helps in the stream-lining of various internal and external operations to improve productivity and increase revenue with minimization of expenses.
Growing adoption of innovative data management ideas across various manufacturing verticals coupled with a
rising requirement for process optimization are the major growth drivers, which are expected to fuel market demand for manufacturing analytics in the near future. Evolution of industrial IoT (Internet of Things), higher demand for business scalability & agility and growing popularity for self-service administration to managed data are some other key factors, anticipated to further aid the market growth over the next six years. However, its structural complexity, low ROI and inefficient integration with legacy systems are some of the major challenges, which may hinder market growth in the near future.
The global manufacturing analytics market has been segmented based on types into software service, managed services and professional services. Furthermore, the manufacturing analytics market has been segmented based on applications into predictive maintenance & asset management, energy management, inventory management, supply chain planning & procurement, emergency management, sales & customer management, and other applications. Energy management is the leading application segment and is projected to witness a significant growth over the forecast period owing to the growing adoption for smart energy projects across the globe. The global manufacturing analytics market is further segmented by deployment model and industry verticals. Electronics equipment manufacturing is one of the major vertical segment and is anticipated to attain the highest growth over the coming years on account of increasing global demand for electronic devices and gadgets day by day.
North America is one of the leading markets for manufacturing analytics and is expected to account for the largest market share over the forecast period due to the continuous technological advancements and higher penetration of analytics in the region. Asia Pacific is one of the fastest growing markets and is projected to grow at the highest CAGR in the near future owing to the growing manufacturing activities along with the increasing technological innovations in the region, particularly in the China, Japan, and India.
The key industry players include International Business Machines Corporation, Tableau Software, Oracle Corporation, SAP SE, Zensar Technologies Ltd., SAS Institute, Inc., Computer Science Corporation (CSC), Tibco Software, Inc., Statsoft, Inc., Alteryx, Inc., and 1010data, Inc.
In Jan 2016, Whirlpool Corporation, a leading home appliances manufacturer, and International Business Machines Corporation (IBM) has announced their collaboration to connect Whirlpool home appliances with IBM Watson analytics services to provide better customer service with more productivity.
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