What are the Historical Developments and Current Growth Metrics of the Manufacturing Analytics Market?
The manufacturing analytics market has seen considerable growth due to a variety of factors.
• There has been an explosive expansion in the size of the manufacturing analytics market in the recent past. The market will catapult from a size of $13.97 billion in 2024 to reach $16.79 billion in 2025, reflecting a compound annual growth rate (CAGR) of 20.2%.
The growth exhibited during the historical period is a result of several factors. Main among these are heightened demand for operational efficiency and cost savings, efforts to enhance quality, streamlining of the supply chain, advances in data handling and storage, the advent of solutions based on cloud technology, and a focus on real-time analytics.
What Does Future Hold for The Manufacturing Analytics Market Size?
The manufacturing analytics market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the manufacturing analytics market size is anticipated to experience immense growth, scaling up to $40.9 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 24.9%.
This growth during the forecast period can be credited to the utilization of analytics in improving robotics data, the need for flexibility and scalability in analytics solutions, stronger cybersecurity protocols for manufacturing data, better energy efficiency via analytics, and advancements in data visualization and reporting tools. Significant trends for the forecast period constitute regulatory compliance and reporting, emphasis on employee education and data literacy, industry 4.0 and smart manufacturing, IoT and sensor integration, as well as predictive maintenance.
What Are The Primary Growth Drivers In The Manufacturing Analytics Market?
The expectation for the augmentation of the manufacturing analytics market is being driven by the growing demand for process optimization. The term process optimization denotes the reduction or eradication of time and resource waste, unnecessary expenses, bottlenecks, and errors while accomplishing the process goal. Its application in manufacturing analytics offers several advantages such as prompt response to machine-level issues and enhanced maintenance, consequently leading to its expansion and escalating the necessity for this technique. For example, a study conducted by Bain & Company, a management consulting firm based in the U.S., reveals that 21% of companies manage to save 10% or more by employing business process optimization strategies. Thus, the surge in the demand for process optimization is bolstering the growth of the manufacturing analytics market.
What Is The Segmentation Of The Global Manufacturing Analytics Market?
The manufacturing analytics market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: Cloud, On Premise
3) By Application: Predictive Maintenance, Inventory Management, Supply Chain Optimization, Other Applications
4) By Industry Vertical: Semiconductor And Electronics, Energy And Power, Pharmaceutical, Automobile, Heavy Metal And Machine Manufacturing, Other Industry Verticals
Subsegments:
1) By Software: Analytics Software, Visualization Software, Reporting Software, Predictive Analytics Software
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services
Pre-Book The Manufacturing Analytics Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Shaping The Manufacturing Analytics Market Landscape?
Innovation in new products is an essential trend that is increasingly gaining momentum in the manufacturing analytics market. Key companies operational in this market are putting their efforts toward creating technologically superior software to reinforce their standing in the market. For instance, in May 2022, Google, a technology firm from the US, offered the Google Cloud Platform which incorporates the Manufacturing Data Engine and Manufacturing Connect, aimed at allowing manufacturers to merge previously separate assets, standardize and process data, and heighten visibility from the production ground to the cloud. These solutions facilitate three crucial AI and analytics-based applications - manufacturing analytics and insights, machine-level anomaly detection, and predictive maintenance - once the data is harmonized. Both the Manufacturing Data Engine and Manufacturing Connect are now available and aid manufacturers in synthesizing their data, enhancing their workforce's capabilities through straightforward analytics and AI solutions based on cloud infrastructure.
Who Are the Key Players in the Manufacturing Analytics Market?
Major companies operating in the manufacturing analytics market include:
• SAP SE
• Oracle Corporation
• SAS Institute Inc.
• Tableau Software Inc.
• TIBCO Software Inc.
• International Business Machines Corporation
• Alteryx Inc.
• Sisense Inc.
• Wipro Limited
• Bridgei2i Analytics Solutions
• Cisco Systems Inc.
• FICO
• Domo Inc.
• Neubrain Solutions Private Limited
• Aegis Software
• MachineMetrics Inc.
• Lantek
• General Electric Company
• Dell Technologies Inc.
• Zensar Technologies Ltd
• Northwest Analytics Inc.
• DXC Technology Company
• QlikTech Inc.
• Microsoft Corporation
• Siemens AG
• Hitachi Ltd
• Rockwell Automation Inc.
• Honeywell International Inc.
• Schneider Electric SE
• PTC Inc.
• Sight Machine Inc.
• InfinityQS International Inc.
• Epicor Software Corporation
What are the Regional Insights into the Manufacturing Analytics Market?
North America was the largest region in the manufacturing analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the manufacturing analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
