Manufacturing Analytics Market Report by Component (Software, Services), Deployment Model (Cloud-based, On-premises), Application (Predictive Maintenance, Inventory Management, Supply Chain Optimization, and Others), Industry Vertical (Semiconductor and Electronics, Energy and Power, Pharmaceutical, Automobile, Heavy Metal and Machine Manufacturing, and Others), and Region 2024-2032
The global manufacturing analytics market size reached US$ 12.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 60.5 Billion by 2032, exhibiting a growth rate (CAGR) of 18.2% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 12.8 Billion
Market Forecast in 2032
US$ 60.5 Billion
Market Growth Rate 2024-2032
18.2%
Manufacturing analytics refers to the use of operations and events data and technologies to ensure quality, reduce costs, optimize supply chains, and improve performance and yield. It relies on predictive and big data analytics, industrial internet of things (IIoT), machine learning (ML), and edge computing to enable smart, scalable factory solutions. As it provides contextual awareness and actionable insights in real-time, organizations from different industry verticals are adopting manufacturing analytics to gain a competitive edge. This can also be attributed to its assistance in digitizing the business, accelerating innovation, and redefining customer experience.
Manufacturing Analytics Market Trends:
Lockdowns imposed by governing agencies of numerous countries to curb the spread of the coronavirus disease (COVID-19) have resulted in supply chain disruptions and the temporary closure of various manufacturing units. As a result, manufacturing entities across the globe are deploying smart manufacturing analytics solutions to mitigate the impact of the pandemic. Manufacturing analytics assists in demand forecasting, real-time quality monitoring, and inventory management. Apart from this, rapid industrialization, the rising automation trend in industrial processes, and the growing volume of data are among the leading factors catalyzing the demand for manufacturing analytics to help companies increase overall productivity and profitability. In addition to this, the emergence of the Fourth Industrial Revolution (Industry 4.0), in confluence with the widespread adoption of advanced technologies, such as artificial intelligence (AI) and radio frequency identification (RFID), is bolstering the market growth. Moreover, it is widely used by automotive manufacturers to innovate their products and simultaneously meet stringent quality requirements. It is also gaining traction in the aerospace industry for improving proficiency and operational efficiency.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global manufacturing analytics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, deployment model, application and industry vertical.
Breakup by Component:
Software
Services
Breakup by Deployment Model:
Cloud-based
On-premises
Breakup by Application:
Predictive Maintenance
Inventory Management
Supply Chain Optimization
Others
Breakup by Industry Vertical:
Semiconductor and Electronics
Energy and Power
Pharmaceutical
Automobile
Heavy Metal and Machine Manufacturing
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alteryx Inc., General Electric, International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software LLC (Salesforce.com Inc.), TIBCO Software Inc., Wipro Limited and Zensar Technologies Ltd.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Component, Deployment Model, Application, Industry Vertical, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Alteryx Inc., General Electric, International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software LLC (Salesforce.com Inc.), TIBCO Software Inc., Wipro Limited and Zensar Technologies Ltd.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global manufacturing analytics market was valued at US$ 12.8 Billion in 2023.
We expect the global manufacturing analytics market to exhibit a CAGR of 18.2% during 2024-2032.
The emerging automation trend in industrial processes, along with the rising adoption of manufacturing analytics, as it assists in demand forecasting, real-time quality monitoring, and inventory management, is primarily driving the global manufacturing analytics market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units, thereby negatively impacting the global market for manufacturing analytics.
Based on the component, the global manufacturing analytics market has been segmented into software and services, where software currently holds the majority of the total market share.
Based on the deployment model, the global manufacturing analytics market can be divided into cloud-based and on-premises. Currently, on-premises exhibit a clear dominance in the market.
Based on the application, the global manufacturing analytics market has been categorized into predictive maintenance, inventory management, supply chain optimization, and others. Among these, predictive maintenance currently accounts for the majority of the global market share.
Based on the industry vertical, the global manufacturing analytics market can be segregated into semiconductor and electronics, energy and power, pharmaceutical, automobile, heavy metal and machine manufacturing, and others. Currently, automobile exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global manufacturing analytics market include Alteryx Inc., General Electric, International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software LLC (Salesforce.com Inc.), TIBCO Software Inc., Wipro Limited, and Zensar Technologies Ltd.
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