The global manufacturing analytics market is expected to grow at a significant CAGR during the forecast period 2024-2031. Manufacturing analytics is a statics based tool that is employed to assist manufacturing companies and enables a regulatory analysis of information and data of manufacturing sector and understanding the machine data. This analysis is subjected to improve product quality, quantity and business process and are applicable to perform actions including identification, improvement and reinforcement of best procedures. Manufacturing analytics can detect the mechanical problem and can contribute as a prime factor for product, yield and cost of the manufacturing.
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The increasing demand for big data analytics among industrial verticals due to an increase in multiple industry data that includes images, in-factory databases and sensors among others are expected to augment the market growth of the global manufacturing analytics market. The increasing adoption of manufacturing analytics in various sectors of manufacturing to efficiently optimize business process and enable it as improved, scalable and agile is another prime factor that positively impacts the market growth of the global manufacturing analytics market.
Additionally, the growing implementation of industrial IoT, increasing demand for process optimization and rising investment and initiatives for manufacturing by the government on big data are some additional factors that contribute to driving the market growth of the global manufacturing analytics market. The increasing technological advancement in manufacturing analytics with VR and AR systems is projected to induce new opportunities for the market and raise the growth of the global manufacturing analytics market. Furthermore, the steady growth rate of digital transformation, surging need for real-time access for data monitoring and increasing demand for location data and remote services are anticipated to fuel the market growth of the global manufacturing analytics market during the forecast period.
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Market Coverage
- Segment Covered-
o By Type
o By Application
o By End-User
- Competitive Landscape- Dell Inc., Computer Science Corporation, IBM Corp., Oracle Corp., Tibco.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Manufacturing Analytics Market by Segment
By Type
- Software
- Services
By Application
- Predictive maintenance & asset management
- Inventory management
- Supply chain Planning & Procurement
- Energy management
- Emergency management
- Sales & Customer Management
- Others
By End-User
- Automotive & aerospace manufacturing
- Electronics equipment manufacturing
- Food & Beverages Manufacturing
- Chemicals & Materials Manufacturing
- Machinery & Industrial Equipment
- Pharma and life sciences
- Paper, Pulp, Plastic and Rubber Manufacturing
- Others
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