Manufacturing analytics is the process of capturing, collecting, and analyzing key performance indicators (KPIs) such as downtime, production volume, costs, return on assets, and others, to enhance the production process and improve manufacturing business. The advantages offered by manufacturing analytics solutions include availability of real time data, reduction in costs, customer satisfaction by analyzing performance or quality issues, decrease in unplanned downtime, and increased productivity. Rise in use of predictive analytics in this solution for predictive maintenance is expected to gain traction in the coming years.
Rise in investment on big data for manufacturing, emergence of Industrial Internet of Things (IIoT), increase in need for process optimization as well as a surge in awareness about the benefits of manufacturing analytics are the major factors that fuel the growth of the manufacturing analytics market. However, lack of integration with legacy systems and scarcity of skilled staff are expected to impede the manufacturing analytics market growth. On the contrary, integration of new technologies such as AI, AR/VR, and machine learning in manufacturing analytics is expected to provide lucrative opportunity for the market growth in the coming years.
The manufacturing analytics market is segmented on the basis of component, deployment, application, industry vertical, and region. By component, the market is categorized into software and service. On the basis of deployment, it is classified into on-premise and cloud. Based on the application, it is studied across predictive maintenance, inventory management, supply chain optimization, and others. Depending on industry vertical, it is divided into semiconductor and electronics, energy & power, pharmaceutical, automobile, heavy metal & machine manufacturing, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the manufacturing analytics market include SAP SE, Oracle Corp., SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc., IBM Corp., Alteryx, Inc., Sisense, Inc., Wipro Limited, and General Electric Company.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Component
By Deployment
By Application
By Industry Vertical
By Region
KEY MARKET PLAYERS
Rise in investment on big data for manufacturing, emergence of Industrial Internet of Things (IIoT), increase in need for process optimization as well as a surge in awareness about the benefits of manufacturing analytics are the major factors that fuel the growth of the manufacturing analytics market. However, lack of integration with legacy systems and scarcity of skilled staff are expected to impede the manufacturing analytics market growth. On the contrary, integration of new technologies such as AI, AR/VR, and machine learning in manufacturing analytics is expected to provide lucrative opportunity for the market growth in the coming years.
The manufacturing analytics market is segmented on the basis of component, deployment, application, industry vertical, and region. By component, the market is categorized into software and service. On the basis of deployment, it is classified into on-premise and cloud. Based on the application, it is studied across predictive maintenance, inventory management, supply chain optimization, and others. Depending on industry vertical, it is divided into semiconductor and electronics, energy & power, pharmaceutical, automobile, heavy metal & machine manufacturing, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the manufacturing analytics market include SAP SE, Oracle Corp., SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc., IBM Corp., Alteryx, Inc., Sisense, Inc., Wipro Limited, and General Electric Company.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global manufacturing analytics market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analyses on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global manufacturing analytics market from 2018 to 2026 is provided to determine the market potential.
KEY MARKET SEGMENTS
By Component
- Software
- Services
By Deployment
- Cloud
- On-premise
By Application
- Predictive Maintenance
- Inventory Management
- Supply Chain Optimization
- Others
By Industry Vertical
- Semiconductor & Electronics
- Energy & Power
- Pharmaceutical
- Automobile
- Heavy Metal & Machine Manufacturing
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- SAP SE
- Oracle Corp.
- SAS Institute Inc.
- Tableau Software Inc.
- TIBCO Software Inc.
- IBM Corp.
- Alteryx, Inc.
- Sisense, Inc.
- Wipro Limited
- General Electric Company
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Manufacturing Analytics Market, By Component
Chapter 5: Manufacturing Analytics Market, By Deployment
Chapter 6: Manufacturing Analytics Market, By Application
Chapter 7: Manufacturing Analytics Market, By Industry Vertical
Chapter 8: Manufacturing Analytics Market, By Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Executive Summary
According to the report titled 'Manufacturing Analytics Market by Component, Deployment, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global manufacturing analytics market was valued at $5.9 billion in 2018, and is projected to reach $28.4 billion by 2026, growing at a CAGR of 16.5% from 2019 to 2026.Manufacturing analytics software and services are being adopted by the customers owing to their need for demand forecasting & trends related to demand, increase supply chain visibility, optimizing pricing strategies, predictive maintenance, asset & inventory management, and others. The manufacturing analytics market vendors are coming up with innovative product offerings which cater to changing requirements of the customers & compatible with the trends such as IIoT, Industry 4.0. The use of technologies including artificial intelligence, AR & VR, and machine learning are transforming the manufacturing analytics offerings which is expected to offer lucrative opportunities to the market in the coming years. In addition, market players are adopting various business strategies to strengthen their foothold in the market and increase their market penetration. For instance, in September 2019, Hitachi Vantara announced Lumada Manufacturing Insights, a suite of industrial internet-of-things (IIoT) solutions that enables manufacturing industry to achieve transformative results from actionable & data driven insights. Using AI, machine learning and DataOps, this solution optimizes production, quality, and machine outcomes to set the foundation necessary for Manufacturing 4.0.
The on-premise segment dominated the manufacturing analytics market in 2018. However, cloud segment is projected to grow with the highest CAGR of 19.5% during the forecast period. This is attributed to key benefits offered by cloud-based software for businesses such as low cost, great accessibility, and ease of implementation & maintenance. Companies are incorporating additional functionalities into their offerings such as machine learning, predictive analytics, and AR/VR to their solutions. Such manufacturing analytics market trends are further anticipated to boost the market growth.
According to application segment, supply chain optimization held the majority of the global manufacturing analytics market share in 2018 and is projected to maintain its dominance during the forecast period. However, the predictive maintenance segment is expected to witness the highest growth rate, as shift from paper-based systems to digital systems in this sector is enforcing healthcare and medical devices providers to adopt manufacturing analytics. Manufacturing analytics is being adopted as companies are pursuing it as the engine to drive businesses forward. However, lack of analytics expertise is expected to remain the crucial issue in widespread adoption of manufacturing analytics solutions.
Region wise, the global manufacturing analytics market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The key factors driving the manufacturing analytics market growth in this region include increase in awareness about customer care, a surge in adoption of complaint management-integrated customer relationship management or quality management software, and presence of large number of key vendors in the region. However, Asia-Pacific is expected to witness the highest growth, owing to large number of manufacturing companies established in the countries such as China, India which are focusing on digitalizing their manufacturing operations. In addition, in the last few years, investments on analytics & cognitive technologies in Southeast Asia has also increased and Singapore has emerged as a significant technology adopter with several companies based there.
Key Findings of the Manufacturing Analytics Market:
Depending on component, the software segment led the manufacturing analytics market size in terms of revenue in 2018.
By deployment, the on-premise segment accounted for the highest market share in 2018.
Region wise, North America generated the highest revenue in 2018; however, Asia-Pacific is anticipated to exhibit substantial growth during the manufacturing analytics market forecast period.
Depending on application, the predictive maintenance segment is anticipated to exhibit highest growth during the forecast period.
The global manufacturing analytics market analysis includes some of the key market players such as SAP SE, Oracle Corp., SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc., IBM Corp., Alteryx, Inc., Sisense, Inc., Wipro Limited, and General Electric Company.
Companies Mentioned
- SAP SE
- Oracle Corp.
- SAS Institute Inc.
- Tableau Software Inc.
- TIBCO Software Inc.
- IBM Corp.
- Alteryx Inc.
- Sisense Inc.
- Wipro Limited
- General Electric Company.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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