Smart Manufacturing Global Market Report 2023 – By Component (Hardware, Software, Services), By Technology (Machine Execution Systems (MES), Programmable Logic Controller (PLC), Enterprise Resource Planning (ERP), SCADA, Discrete Control Systems (DCS), Machine Vision, 3D Printing, Other Technologies), By End-User (Automotive, Aerospace and Defense, Chemicals and Materials, Healthcare, Industrial Equipment, Electronics, Food and Agriculture, Oil and Gas, Other End-Users) – Market Size, Trends, And Global Forecast 2023-2032

Internet of Things (IoT) is a physical object network that contains integrated technologies that allow it to connect, sense, and interact with internal or external environments. It is a collection of end-to-end services where companies contract with external vendors to design, build, install, and operate IoT solutions, including consulting advice for IoT planning. The main platform of Internet of Things (IoT) are device management, application management and device management. The process of managing the implementation, operation, and maintenance of a physical and/or virtual device is known as device management The various application include building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, smart mobility and transportation, others that are used by BFSI, retail, government, healthcare, manufacturing, transportation, IT and telecom, among other end user industries. The global IoT market is segmented - 1) By Platform: Device Management, Application Management, Network Management 2) By End Use Industry: BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT & Telecom, Other End-User Industries 3) By Application: Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility And Transportation, Other Applications The global iot market size will grow from $399.41 billion in 2022 to $486.7 billion in 2023 at a compound annual growth rate (CAGR) of 21.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global iot market size is expected to grow to $1057.55 billion in 2027 at a CAGR of 21.4%. The application of IoT in various industries such as automotive industry is driving the growth of the IoT market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control and data delivery at any transportation point. Major companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. According to UBS, 12% of the total cars sold in 2030 will be for autonomous taxi fleets with 26 million driverless taxis in operation worldwide, approximately. Major players in the IoT market are Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Google Inc., Hewlett-Packard Enterprise, Amazon Web Services Inc., Bosch Software Innovation GmbH, Huawei Technologies, Intel Corporation, AT & T Inc., Hitachi Data Systems, General Electric, Bright Wolf, C3 IoT, Carriots, Concirrus, Connio, Cumulocity, Davra Networks, Device Insight, EVRYTHNG, Exosite, Autodesk SeeControl, BlackBerry, Accenture PLC., Alcatel-Lucent, Fujitsu Ltd., Dell Inc., PTC Inc., and SAP SE. The concerns with data security impact the growth of the IoT market. The rate of data intrusions is also increasingly growing with the advances in technology. IoT systems are being newly built and often have loopholes that can help the hacker to easily enter the system, serving as a major obstacle to the growth of the market for IoT sensors, since enterprise data protection is of great importance when designing analytical solutions for many vertical applications. Ransomware and denial-of-service attacks (DoS attacks) will continue to rise and be among the most common cybersecurity threats. Therefore, the data security issues limit the growth of the IoT market. The IoT devices collect a great deal of data of all types. Managing this data and analyzing it will help maximize its value for the company. Data analytics will help in analysis of IoT data in several areas such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, major cloud vendors such as Amazon, Microsoft and Google, are increasingly using data analytics for business improvement and various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value and make informed decisions from the increasing data volumes. In February 2022, Breadware LLC., a US-based IoT solutions company acquired Medium One Inc. for an undisclosed amount. The acquisition add Medium One platform to Breadware and enables it to develop and offer IoT-enabled products as well as integrated environment for quick and easy implementation of IoT products. Medium One Inc. is an American IoT software company. Asia-Pacific was the largest region in the IoT market in 2022. North America was the second largest region in the global IoT market share. The regions covered in IoT market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The Internet of Things iot market includes revenues earned by entities by offering IoT solutions used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The internet of things iot market research report is one of a series of new reports from The Business Research Company that provides internet of things iot market statistics, including internet of things (IoT) industry global market size, regional shares, competitors with an internet of things iot market share, detailed internet of things iot market segments, market trends and opportunities, and any further data you may need to thrive in the internet of things iot market industry. This internet of things iot market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Manufacturing analytics refer to a statistical tool that aids in the rule-based analysis of manufacturing data and information, allowing users to better understand the process and hence enhance business operations and product quality. Manufacturing analytics enables to spot an issue before it occurs, which could have an impact on the product, yield, or cost. Manufacturing analytics is used to improve process efficiency and centralize production monitoring. The main types of components in manufacturing analytics are software and service. The software refers to business intelligence (BI) tools for capturing, aggregating, and analyzing manufacturing data analytics. Manufacturing analytics software reveals insights about processes and functions that can lead to improvements at all levels of an organization. The different deployment modes include cloud, and on-premise and are used in several applications such as predictive maintenance, inventory management, supply chain optimization, and others. It is employed in semiconductor and electronics, energy and power, pharmaceutical, automobile, heavy metal and machine manufacturing, and other industry verticals. The global manufacturing analytics market 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 The global manufacturing analytics market size will grow from $9.92 billion in 2022 to $11.98 billion in 2023 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the manufacturing analytics is expected to grow to $27.27 billion in 2027 at a CAGR of 22.8%. An increase in the need for process optimization is expected to propel the growth of the manufacturing analytics market going forward. Process optimization refers to reducing or eliminating time and resource wastage, unnecessary costs, bottlenecks, and mistakes while achieving the process objective. Process optimization in manufacturing analytics adds to various benefits such as providing faster response to issues at the machine level, and improved maintenance and so leading to its growth and increasing the need for this technique. For instance, according to Camunda, a Germany-based open-source workflow, and decision automation platform, in 2020, 51% of automation initiatives are aimed at boosting efficiency and optimization. Also, according to a survey conducted by Camunda in 2020 on how process automation is a business driver for growth, half (49%) of an organization’s process automation initiatives are focused on driving business growth. The other half of the process automation initiatives highlighted ways of business optimization (27%). Therefore, an increase in the need for process optimization is driving the manufacturing analytics market growth. Major players in the manufacturing analytics market are 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 (Fair, Isaac and Company), Domo Inc., Neubrain, Aegis Software, MachineMetrics, and Lantek. New product innovation is a key trend gaining popularity in the manufacturing analytics market. Major companies operating in the manufacturing analytics market are focused on developing technologically advanced software to strengthen their market position. For instance, in May 2022, Google Cloud Platform, offered by Google, a US-based technology company launched Manufacturing Data Engine and Manufacturing Connect that enable manufacturers to connect previously segregated assets, process and standardize data, and improve visibility from the factory floor to the cloud. The solutions enable three essential AI and analytics-based use cases–manufacturing analytics and insights, predictive maintenance, and machine-level anomaly detection–once data has been harmonized. Manufacturing Data Engine and Manufacturing Connect, both of which are now accessible, assist manufacturers in unifying their data and empowering their employees through simple analytics and AI solutions built on cloud infrastructure. In October 2020, TIBCO Software Inc., a US-based business intelligence software company, acquired Information Builders Inc for an undisclosed amount. Through this acquisition, TIBCO gained the access to a broader range of analytics and technologies, considerably boosting its capacity to assist the world's most prestigious enterprises in solving the most difficult data challenges and further unlock the potential of real-time data for making faster, better decisions. Information Builders Inc is a US-based privately held software company that offers business analytics services. North America was the largest region in the manufacturing analytics market in 2022. 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, the Middle East, and Africa. The countries covered in the manufacturing analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The manufacturing analytics market includes revenues earned by entities by tools and services transform real-time data into just-in-time insights and enable improved customer service. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The manufacturing analytics market research report is one of a series of new reports from The Business Research Company that provides manufacturing analytics market statistics, including manufacturing analytics industry global market size, regional shares, competitors with a manufacturing analytics market share, detailed manufacturing analytics market segments, market trends and opportunities, and any further data you may need to thrive in the manufacturing analytics industry. This manufacturing analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The advanced analytics refer to a data analysis methodology that uses predictive modeling, machine learning algorithms, deep learning, business process automation, and other statistical approaches to analyze corporate data from a variety of data sources. Advanced analytics makes use of data science, which includes mature methods of analysis, to forecast future trends and predict the possibility of prospective events. While basic business intelligence and analytics can provide a picture of the business, advanced analytics can estimate future patterns or outcomes for a more in-depth insight into the organization. Advanced analytics provides a broader set of capabilities to cope with difficulties that typical backward-looking BI cannot, allowing for more strategic decision-making in the future. The main types of advanced analytics are big data analytics and predictive analytics. Big data is a discipline concerned with ways of analyzing, methodically extracting information from, or otherwise dealing with data volumes that are too large or complex for standard data-processing application software to manage. It is based on components of services and solutions and can be deployed on-premise and cloud modes. It is used in various organizations such as large enterprises, small and medium-sized enterprises (SMEs), and across various verticals such as banking financial services and insurance (BFSI), IT and telecom, retail and consumer goods, healthcare and life sciences, transportation, and logistics, government and defense, manufacturing, media and entertainment, and other verticals. The global advanced analytics market is segmented - 1) By Type: Big Data Analytics, Predictive Analytics 2) By Component: Solution, Services 3) By Deployment Mode: Cloud, On-Premises 4) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs) 5) By Vertical: Banking Finance Services And Insurance (BFSI), IT And Telecom, Retail And Consumer Goods, Healthcare And Life Sciences, Transportation And Logistics, Government And Defence, Manufacturing, Media And Entertainment, Other Verticals The global advanced analytics market size will grow from $33.47 billion in 2022 to $40.65 billion in 2023 at a compound annual growth rate (CAGR) of 21.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the advanced analytics is expected to grow to $92.9 billion in 2027 at a CAGR of 23.0%. Growing usage of analytical solutions is likely to propel the growth of the advanced analytics market. The analytical solutions are increasingly being used in various industries such as retail, agriculture, banking, and so on for demand forecasting, trade promotion optimization, and behavior analytics. Analytical solutions provide solutions to a problem that has already occurred. However, advanced analytics predicts future instances based on the trends of the past. Both of these are interrelated and when combined provide solutions and forecasts. For instance, in January 2020, according to the Willis Towers Watson Public Limited Company’s survey 2020, a UK-based multinational insurance advisor company, approximately 77% of insurance businesses want to apply advanced analytics on consumer data, and 54% of those organizations have already started doing so. Moreover, due to the usage of advanced analytics, 86% of respondents report seeing a positive impact on bottom-line performance, and 68% report seeing a good impact on top-line performance already. Such rising demand and investments in analytical solutions are expected to drive the advanced analytics market growth. Major players in the advanced analytics market are IBM Corporation, Oracle Corporation, Dell Technologies Inc., Microsoft Corporation, RapidMiner Inc., Altair Engineering Inc., Fair Isaac Corporation, KNIME AG., Statsoft, Teletrac Navman Ltd., Procon Analytics, IMS Software Inc., and CloudMade. Technology advancement is a key trend gaining popularity in the advanced analytics market. Introducing new technologies or technology advancements will help the growth of the advanced analytics market rapidly and provide an enhanced product to the customers. For instance, in August 2021, CROSSMARK, a sales and marketing services agency, announced the national introduction of Accelerator, a state-of-the-art data analysis platform for CPG sales and marketing activities. The product uses big data technology to combine the largest data sets in the CPG industry with best-in-class analytics horsepower to deliver intuitive visualization of analytical tasks critical for smarter selling and faster growth. By employing machine learning (AI) capabilities and integrating new data sources, the platform is designed to grow over time. In February 2021, Trendline Interactive, a digital messaging consulting and professional services firm based in the US, announced the acquisition of Data Insight Group Inc., for an undisclosed amount. This acquisition helps further boost Trendline’s data science and analytics services to better support its customers understand their data and more effectively leverage its value. Data Insight Group (DiG) is a US-based customer data analytics consultancy supporting mid-to-large organizations to make sense of their data to drive customer strategy. North America was the largest region in the advanced analytics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the advanced analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The advanced analytics market includes revenues earned by entities by providing services such as data/text mining, machine learning, pattern matching, forecasting, visualization, semantic analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The advanced analytics market research report is one of a series of new reports from The Business Research Company that provides advanced analytics market statistics, including advanced analytics industry global market size, regional shares, competitors with a advanced analytics market share, detailed advanced analytics market segments, market trends and opportunities, and any further data you may need to thrive in the advanced analytics industry. This advanced analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Manufacturing execution system refers to comprehensive dynamic software designed to monitor, track, and document and control the process of manufacturing from raw material to end product. It acts as a functional layer between ERP (enterprise resource planning) and process control systems, by offering data to decision-makers to establish efficient and optimized production activities. The main offering of manufacturing execution systems includes software and services. The manufacturing execution system software refers to a specialist class of production-oriented software, which is designed to manage, monitor and synchronize the execution of real-time physical processes involved in converting raw materials into finished products. They are deployed through on-premise, on-demand and hybrid delivery models. These systems are used in small and medium-sized enterprises and large enterprises in industries ranging from food & beverages, oil & gas, chemicals, pulp & paper, pharmaceutical & life sciences, energy & power, water & wastewater treatment, and other industries. The global manufacturing execution system market is segmented - 1) By Offering: Software, Services 2) By Deployment: On-premise, On-demand, Hybrid 3) By Organization Size: Small and Medium Size Enterprise, Large Enterprise 4) By Process Industry: Food & Beverages, Oil & Gas, Chemicals, Pulp & Paper, Pharmaceutical & Life Sciences, Energy & Power, Water & Wastewater Management, Other Process Industries The global manufacturing execution system market size will grow from $13.21 billion in 2022 to $14.73 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the manufacturing execution system is expected to grow to $22.89 billion in 2027 at a CAGR of 11.7%. The increase in demand for mass production and a connected supply chain to cater to the growing population is expected to drive the manufacturing execution system market. The companies are increasingly investing in advanced software and AI-based systems to meet the fast-growing demand for mass production activities and connected supply chains. For instance, according the study published in the United Nations Industrial Development Organization, in the Q4 of 2021, global manufacturing production observed a year-on-year growth of 3.3%, following an increase of 5.8% and 17.8% in Q3 and Q2 respectively. Additionally, according to the study conducted by PwC, a Global Industry 4.0 Survey, it was reported that implementation of manufacturing execution systems in production lines contributed to a 30% increase in productivity and increased ROI from cost savings of 3% and additional revenue of 3%. Therefore, mass production and a connected supply chain are expected to boost the manufacturing execution system industry. Major players in the manufacturing execution system market are ABB Ltd., AVEVA plc, Dassault Systèmes, Honeywell International, Inc., Rockwell Automation, Inc., Siemens AG, SAP SE, General Electric Company, Oracle Corporation, Emerson Electric Co., Werum IT Solutions GmbH, Accenture, Andea Solutions, Schneider Electric SE, HCL Technologies, and SAP AG. Technological innovations are a key trend gaining popularity in the manufacturing execution systems market. The companies operating in the manufacturing execution systems market are developing innovative products with advanced technologies to meet the fast-growing demand from end customers and strengthen their market position. For instance, in November 2020, Critical Manufacturing, a Portugal-based software company, launched the Industry 4.0 Manufacturing Execution System (MES). It is designed to solve the manufacturing data challenge with a unique approach that combines IIOT, MES, equipment integration and data platform elements for processing, and analytics that promises to accelerate the future of true manufacturing insights and intelligence to drive better business outcomes. In September 2021, Honeywell, a US-based company that provides modular solutions for life science operations efficiency, compliance, and digital transformations, acquired Performix Inc. for an undisclosed amount. With this acquisition, Honeywell's strategy is to construct the world's top integrated software platform for customers in the life sciences industry with the inherent potential to achieve faster compliance, enhanced dependability, and higher production throughput while maintaining the highest levels of quality. Performix Inc., is a Huston-based company involved in offering manufacturing execution system (MES) software for the pharmaceutical and biotech industries. Asia-Pacific was the largest region in the manufacturing execution system market in 2022. The regions covered in the manufacturing execution system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the manufacturing execution system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The manufacturing execution system market includes revenues earned by entities by providing services such as business planning and logistics, manufacturing operations management, process control systems, batch control, continuous control, discrete control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The manufacturing execution systems market research report is one of a series of new reports from The Business Research Company that provides manufacturing execution systems market statistics, including manufacturing execution systems industry global market size, regional shares, competitors with a manufacturing execution systems market share, detailed manufacturing execution systems market segments, market trends and opportunities, and any further data you may need to thrive in the manufacturing execution systems industry. This manufacturing execution systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Procurement analytics refers to software which automates spend analysis and purchase analysis and operates completely organizations’ expenditure through an insightful dashboard. These procurement analytics solutions collect data from various sources such as ERPs, process raw data into use-case taxonomies, and display in visualization dashboards. The main components of procurement analytics are solutions and services. The procurement analytics solutions refer to procurement analytics software and tools that operate on on-premise or cloud platforms. The key applications of procurement analytics include supply chain analytics, risk analytics, spend analytics, demand forecasting, contract management, vendor management, and category management. They are used by end-use industries ranging from retail and e-commerce, manufacturing, government and defense, healthcare and life sciences, telecom and IT, energy and utilities, banking, financial services, and insurance (BFSI), others. The global procurement analytics market is segmented - 1) By Component: Solutions, Services 2) By Deployment Mode: Cloud, On-Premises 3) By End User: Retail and E-commerce, Manufacturing, Government and Defense, Healthcare and Life Sciences, Telecom and IT, Energy and Utilities, Banking, Financial Services, and Insurance, Other End Users 4) By Application: Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, Contract Management, Vendor Management, Category Management The global procurement analytics market size will grow from $4.08 billion in 2022 to $4.88 billion in 2023 at a compound annual growth rate (CAGR) of 19.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the procurement analytics is expected to grow to $10.26 billion in 2027 at a CAGR of 20.4%. Growth in e-commerce and the organized retail industry is expected to propel the growth of the procurement analytics market. E-commerce refers to a medium used by customers and vendors to buy or sell goods and services from the Internet from websites, applications and others through computers, tablets, smartphones, and other smart devices. Procurement analytics is widely used by e-commerce giants and organized retail stores, as it offers data-driven analysis of customer behaviours and spending analysis. For instance, in December 2021, according to the Indian brand equity foundation, e-commerce turnover in India reached $50 billion in 2020 and evolved as the eighth-largest market for e-commerce across the globe, and it is predicted to reach $350 billion by 2030. Thus, an increase in usage of e-commerce and the organized retail industry is expected to boost demand for procurement analytics during the forecast period. Major players in the procurement analytics market are SAP, Oracle, Coupa Software, Genpact, Rosslyn Data Technologies, IBM, Cisco, Microsoft Corp., BirchStreet Systems LLC, Sievo, Corcentric, Zycus, Amazon Web Services, Inc., and JAGGAER LLC. Technological advancements such as artificial intelligence (AI) and cognitive computing are gaining popularity in the procurement analytics market. Major companies operating in the procurement analytics sector are focused on developing and implementing new technological solutions such as AI to expand their product portfolio and strengthen their position in the market. For instance, in April 2020, Digitate, a software venture of Tata Consulting Services, launched ignio Cognitive Procurement, to assist enterprises in making data-driven decisions making. This product utilizes AI/ML to increase the speed and accuracy of the process and assist enterprises in understanding procurement behaviour, monitoring transactions, and others. In February 2020, McKinsey & Company, a US-based management consulting company, acquired Orpheus GmbH for an undisclosed amount. The acquisition by McKinsey & Company is focused on expanding its product offering related to digital process solutions, and expanding its business presence across the globe. Orpheus GmbH, is a Germany-based company involved offering to spend analytics solutions. North America was the largest region in the procurement analytics market in 2022 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the procurement analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the procurement analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The procurement analytics market includes revenues earned by entities by providing services such as identifying need, supplier evaluation and selection, purchase order, and delivery. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The procurement analytics market research report is one of a series of new reports from The Business Research Company that provides procurement analytics market statistics, including procurement analytics industry global market size, regional shares, competitors with a procurement analytics market share, detailed procurement analytics market segments, market trends and opportunities, and any further data you may need to thrive in the procurement analytics industry. This procurement analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Augmented analytics refers to the application of technology like AI and machine learning to increase human curiosity and facilitate the preparation, analysis, and visualization of data for business users. Users discover insights more quickly by conversing with their data, while algorithms propose contextually relevant insights. Augmented analytics assists with data preparation, insight generation, and explanation that augments experts and data scientists with the automation of developing, managing, and deployment of data science machine learning and artificial intelligence models. The main component of augmented analytics are software and services. Software consists of advanced driven analytics applications such as artificial intelligence that provide advanced insights into business performance and market conditions which are used to make business decisions and strategies. The deployment types are on-premises and cloud. The services offered by augmented analytics are training and consulting, deployment and integration, support and maintenance which are used in large enterprises, small and medium-sized enterprises (SMEs). The verticals using augmented analytics includes banking, financial services, and insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences and other verticals. The global augmented analytics market is segmented - 1) By Component: Software, Services 2) By Deployment Type: On-Premises, Cloud 3) By Services: Training And Consulting, Deployment And Integration, Support And Maintainance 4) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs) 5) By Vertical: Banking, Financial Services, And Insurance (BFSI), Telecom And IT, Retail And Consumer Goods, Healthcare And Life sciences, Other Verticals The global augmented analytics market size will grow from $9.53 billion in 2022 to $11.35 billion in 2023 at a compound annual growth rate (CAGR) of 19.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the augmented analytics is expected to grow to $27.21 billion in 2027 at a CAGR of 24.4%. The increasing demand for the adoption of business intelligence (BI) tools is expected to propel the growth of the augmented analytics market. The adoption of business intelligence tools is used to simplify more frequent data-driven decision-making. It is used from the data scientists to employees on the front lines where the departments and teams will gain insights into the data, which helps to promote data democratization all over the organization. According to a survey report of over 5,000 organizations on the business intelligence market by Dresner Advisory Services, LLC, in June 2021, executive adoption of business intelligence is significantly high at 64%, followed by middle and line managers at 40%. Therefore, the increasing demand for the adoption of business intelligence (BI) tools drives the augmented analytics market growth. Major players in the augmented analytics market are Salesforce, SAP, IBM, Microsoft, Oracle, Tableau, MicroStrategy, SAS, Qlik, TIBCO Software, Sisense, Information Builders, Yellowfin, ThoughtSpot and Domo. Technology advancement is gaining popularity in the augmented analytics market. Major players in the augmented analytics market focus on innovative products to obtain an edge in the market against their competitors. For instance, In April 2022, India-based Smarten Augmented Analytics company announced the addition of sentiment analysis features and functionality to its cutting-edge augmented analytics solution. This addition provides businesses with tools for understanding what customers, stakeholders, and others think, allowing organizations to enhance their products and services. In October 2021, Qlik, a Sweden-based business analytics company announced the acquisition of Big Squid for an undisclosed amount. Through this deal, Qlik aims to expand its data and analytics team’s ability to used advanced augmented analytics capabilities such as key driver analysis, predictive analytics. Big Squid Inc., is a US-based Predictive Analytics software company offering augmented analytics. North America was the largest region in the augmented analytics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the augmented analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The augmented analytics market includes revenues earned by entities by providing tools and solutions that make it simpler for company users and executives to discover relevant information. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The augmented analytics market research report is one of a series of new reports from The Business Research Company that provides augmented analytics market statistics, including augmented analytics industry global market size, regional shares, competitors with a augmented analytics market share, detailed augmented analytics market segments, market trends and opportunities, and any further data you may need to thrive in the augmented analytics industry. This augmented analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Product analytics refers to a set of activities such as tracking, analysing, and visualizing the user’s experience to assess the client’s interaction with products and services that allow product managers and product teams to optimize product features based on user data and feedback to provide correlated customer activity with long-term value. The product analytics are used to track and analyse consumer or client behavioural engagement data by an organization to improve its products or services. The main components of product analytics are solutions and services. Services are the non-physical, intangible parts of our economy, as opposed to goods, which we can touch or handle. The mode is data tracking and analysis.The deployment modes are cloud and on-premises. There are two types of organizations: large enterprises and small and medium-sized enterprises. The various end-users involved were automotive, retail and consumer goods, food and beverage manufacturing, machinery and industrial equipment manufacturing, healthcare and pharmaceuticals, and energy and utilities. The global product analytics market is segmented - 1) By Components: Solutions and Services 2) By Mode: Tracking Data, Analysing Data 3) By organisation Size: Large Enterprises, Small and Medium Sized Enterprises 4) By Deployment Mode: Cloud, On-Premises 5) By End-Use: Automotive, Retail and Consumer Goods, Food and Beverage Manufacturing, Machinery and Industrial Equipment Manufacturing, Healthcare and Pharmaceuticals, Energy and Utilities The global product analytics market size will grow from $9.18 billion in 2022 to $11.16 billion in 2023, at a compound annual growth rate (CAGR) of 21.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the product analytics is expected to grow to $24.37 billion in 2027 at a CAGR of 21.6%. The adoption of product analytics tools by eCommerce companies is expected to propel the growth of the product analytics market going forward. E-commerce companies refer to companies that use smart devices and the internet to buy and sell goods and services by creating an online store. Many e-commerce sites are using product analytics, also known as e-commerce analytics, to leverage their business operations due to several benefits, such as optimising the pricing of products, improving customer engagement, providing a personalised customer shopping experience, improving marketing strategies, and others. For instance, in March 2020, according to Whidegroup, a Ukraine-based software company that provides e-commerce solutions to small to medium-sized companies, approximately 80% of online marketers will be using Google Analytics, a popular e-commerce analytics software (product analytics) across the world that enables highly detailed reports and meaningful insights about the website and its users to optimise business operations. Therefore, the adoption of product analytics tools by eCommerce companies is driving the product analytics market growth. Major players in the product analytics market are Google LLC, International Business Machines Corporation, Oracle Corporation, Adobe Inc., Salesforce Inc., Amplitude Inc., Mixpanel, Medallia, Veritone Inc., LatentView Analytics, Pendo.io Inc., Kissmetrics, Heap, Gainsight, Piwik PRO, Plytix.Com ApS, Risk Edge Solutions, LogRocket, Countly, UserIQ, Smartlook, Woopra, SAP SE, Atlassian Corporation PLC, SAS Institute, Teradata Corporation, Sisense, Copper CRM Inc. Product innovation is a key trend gaining popularity in the product analytics market. Major companies operating in the market are focused on research and development for product innovations that could provide better solutions and strengthen their position in the market. For instance, in May 2022, Amplitude Inc., a US-based company providing behavior-tracking software, introduced the industry’s first insights-driven customer data platform, Amplitude CDP, a customer data platform with integrated product analytics to accelerate time to insights. This platform does not need to be integrated with third-party analytics services since it can collect and analyse data from its own product analytics platform. Amplitude CDP is also used for better audience discovery. In March 2020, Amplitude, Inc., a US-based company operating product analytics, acquired ClearBrain, Inc., for an undisclosed amount. Amplitude Inc. aims to strengthen its product portfolio in predictive analytics by leveraging ClearBrain's product and engineering teams for its machine learning division in analytics products that will give it an advantage in the analytics market. ClearBrain Inc. is a US-based company operating in product analytics. North America was the largest region in the product analytics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the product analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the product analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The product analytics market consists of revenues earned by entities by providing trend analysis, attribution analysis, and cohort analysis. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products. The product analytics market research report is one of a series of new reports from The Business Research Company that provides product analytics market statistics, including product analytics industry global market size, regional shares, competitors with a product analytics market share, detailed product analytics market segments, market trends and opportunities, and any further data you may need to thrive in the product analytics industry. This product analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Industrial analytics refer to the collection, analysis (using R programming), and use of data (Big Data) generated throughout industrial activities and over the course of a product's entire lifespan. It includes data collection methods as well as statistical and dynamic modelling methods (Vensim). It requires multiple tools and techniques for data collection and statistical and dynamic modeling. The main types of industrial analytics are predictive, prescriptive, descriptive and diagnostics analytics. Predictive analytics uses statistics and modeling techniques based on current and historical data to determine future performance and to make predictions outcomes. Predictive analytics are used to determine customer response to promote cross-sell opportunities and purchases. Industrial analytics deployed on cloud or on-premises and components are software and services. Industrial analytics are used by small, medium and large organizations in information technology and telecom, energy and utilities, transportation and logistics, retail and consumer goods, manufacturing and other sectors. The global industrial analytics market is segmented - 1) By Analytics Type: Predictive Analytics, Prescriptive Analytics, Descriptive Analytics, Diagnostic Analytics 2) By Organization Size: Large Organizations, Small and Medium Organizations 3) By Deployment Mode: Cloud-Based, On-Premises 4) By Component: Software, Services 5) By Vertical: Information Technology (IT) and Telecom, Energy and Utilities, Transportation and Logistics, Retail and Consumer Goods, Manufacturing, Other Verticals The global industrial analytics market size will grow from $23.25 billion in 2022 to $27.07 billion in 2023 at a compound annual growth rate (CAGR) of 16.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the industrial analytics is expected to grow to $50.79 billion in 2027 at a CAGR of 17.0%. The rising demand from the e-commerce sector is expected to drive the growth of the industrial analytics market. The increasing adoption of smartphones, easy and affordable access to technology, and the convenience of purchasing from anywhere, at any time are the driving factors of online commerce's recent surge. Furthermore, due to COVID-19 pandemic, carrying out all the operations at home or remotely is seen, so people tend to use e-commerce platforms to purchase goods and services. For instance, in May 2021, according to a report published by United Nations Conference on Trade and Development experts. The e-commerce sector's percentage of total retail sales increased significantly from 16% to 19% by 2020. Therefore, the rise in demand for E-commerce is driving the industrial analytics market growth. Major players in the industrial analytics market are Hewlett Packard Enterprise, SAP SE, Microsoft Corporation, Hitachi Ltd., Tibco Software Inc., PTC Inc., AGT International GmbH, IBM Corporation, SAS Institute Inc., General Electric Company, Intel Corporation, Bridgei2i Analytics Solutions, Cisco Systems Inc., Oracle Corporation, Alteryx Inc., Amazon Web Services Inc., Robert Bosch GmbH, Genpact, and ABB Ltd. Advancement in technology is a key trend gaining popularity in the industrial analytics market. Major companies operating in the industrial analytics market are focused on providing technologically-advanced solutions to strengthen their market position. These companies are implementing next-generation industrial technologies into their services and tools, such as data virtualization, data integration, stream analytics, discovery tools, artificial intelligence, machine learning, and others, to improve the decision-making process and increase the efficiency of the work. For instance, in July 2020, ABB, a Swiss automation company launched the ‘ABB Ability Genix Industrial Analytics and AI Suite’, a scalable advanced analytics platform along with pre-designed, easy-to-use applications and services. The advanced industrial analytics platform collects, contextualizes and transforms operational, engineering and information technology data into actionable insights to aid industries optimize asset management, improve operations, and streamline business functions sustainably and safely. In November 2021, Aspen Technology, a US-based industrial software company, acquired Camo Analytics for an undisclosed amount. This acquisition will strengthen AspenTech’s portfolio with Process Analytical Technology (PAT) and Overall Equipment Effectiveness (OEE) solutions to ensure compliance while decreasing waste and enabling improvement. Camo Analytics AS is a Norway-based industrial analytics company. North America was the largest region in the industrial analytics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the industrial analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The industrial analytics market includes revenues earned by entities by providing analytics for promoting efficient business processes and industry operations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The industrial analytics market research report is one of a series of new reports from The Business Research Company that provides industrial analytics market statistics, including industrial analytics industry global market size, regional shares, competitors with an industrial analytics market share, detailed industrial analytics market segments, market trends and opportunities, and any further data you may need to thrive in the industrial analytics industry. This industrial analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.