Manufacturing Predictive Analytics Market Report by Component (Software, Services), Deployment Model (Cloud-based, On-premises), Application (Demand Forecasting, Machinery Inspection and Maintenance, Product Development, Supply Chain Management, and Others), End Use Industry (Semiconductor and Electronics, Energy and Power, Pharmaceutical, Automobile, Heavy Metal and Machine Manufacturing, and Others), and Region 2024-2032

Manufacturing Predictive Analytics Market Report by Component (Software, Services), Deployment Model (Cloud-based, On-premises), Application (Demand Forecasting, Machinery Inspection and Maintenance, Product Development, Supply Chain Management, and Others), End Use Industry (Semiconductor and Electronics, Energy and Power, Pharmaceutical, Automobile, Heavy Metal and Machine Manufacturing, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A4480
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Market Overview:

The global manufacturing predictive analytics market size reached US$ 1,370.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 6,055.6 Million by 2032, exhibiting a growth rate (CAGR) of 17.1% during 2024-2032.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 1,370.3 Million
Market Forecast in 2032
US$ 6,055.6 Million
Market Growth Rate (2024-2032) 17.1%


Manufacturing predictive analytics refers to the interpretation and analysis of data related to the operations, events and technologies utilized in the manufacturing industry. The data is obtained from the Industrial Internet of Things (IIoT)-enabled sensors, mobile and web applications and devices and is stored on the cloud server. The analysis involves inventory stocking, quality monitoring and anomaly detection. It is also used for predicting operational challenges and potential breakdowns in the machinery, maintaining quality standards, improving performance, optimizing supply chains and minimizing costs. Manufacturing predictive analytics offers real-time contextual awareness, aids in digitizing the operations and accelerating innovation. As a result, it finds extensive applications across various industries, including retail, automotive, logistics and information technology (IT).

Global Manufacturing Predictive Analytics Market

Manufacturing Predictive Analytics Market Trends:

The rapid digitization of the manufacturing industry across the globe is one of the key factors driving the growth of the market. Moreover, the increasing requirement for smart and scalable factory solutions is providing a thrust to the market growth. Manufacturing predictive analytics uses statistical tools and multiple data points to improve product quality, gain insights regarding the market trends and conduct preventive maintenance. In line with this, the rising demand for effective remote monitoring solutions due to the coronavirus (Covid-19) pandemic is also contributing to the market growth. Various technological advancements, such as the integration of manufacturing technologies with artificial intelligence (AI), big data and machine learning (ML) solutions, are acting as other growth-inducing factors. These solutions provide enhanced transparency, internal audits, fraud risk management and improved administrative performance. Other factors, including the emergence of Industry 4.0, along with the widespread adoption of business intelligence (BI) solutions, are anticipated to drive the market toward growth.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global manufacturing predictive 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 end use industry.

Breakup by Component:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Software
  • Services
     

Breakup by Deployment Model:

  • Cloud-based
  • On-premises
     

Breakup by Application:

  • Demand Forecasting
  • Machinery Inspection and Maintenance
  • Product Development
  • Supply Chain Management
  • Others
     

Breakup by End Use Industry:

  • Semiconductor and Electronics
  • Energy and Power
  • Pharmaceutical
  • Automobile
  • Heavy Metal and Machine Manufacturing
  • Others
     

Breakup by Region:

 

 
 

 

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  • 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., BRIDGEi2i Analytics, Cisco Systems Inc., Civis Analytics, FICO, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, RapidMiner Inc., SAP SE, SAS Institute Inc. and TIBCO Software Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Component, Deployment Model, Application, End Use Industry, 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., BRIDGEi2i Analytics, Cisco Systems Inc., Civis Analytics, FICO, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, RapidMiner Inc., SAP SE, SAS Institute Inc. and TIBCO Software Inc.
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 predictive analytics market was valued at US$ 1,370.3 Million in 2023.

We expect the global manufacturing predictive analytics market to exhibit a CAGR of 17.1% during 2024-2032.

The rising integration of manufacturing technologies with Artificial Intelligence (AI), Big Data, and Machine Learning (ML) solutions, as they provide enhanced transparency, internal audits, fraud risk management, etc., is primarily driving the global manufacturing predictive analytics market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of manufacturing predictive analytics solutions to improve product quality, gain insights regarding the market trends, and conduct preventive maintenance, during the remote working scenario.

Based on the component, the global manufacturing predictive analytics market has been segregated into software and services, where software currently holds the largest market share.

Based on the deployment model, the global manufacturing predictive analytics market can be bifurcated into cloud-based and on-premises. Currently, on-premises exhibit 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 predictive analytics market include Alteryx Inc., BRIDGEi2i Analytics, Cisco Systems Inc., Civis Analytics, FICO, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, RapidMiner Inc., SAP SE, SAS Institute Inc., and TIBCO Software Inc.

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Manufacturing Predictive Analytics Market Report by Component (Software, Services), Deployment Model (Cloud-based, On-premises), Application (Demand Forecasting, Machinery Inspection and Maintenance, Product Development, Supply Chain Management, and Others), End Use Industry (Semiconductor and Electronics, Energy and Power, Pharmaceutical, Automobile, Heavy Metal and Machine Manufacturing, and Others), and Region 2024-2032
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