Manufacturing Analytics Market Worth US$ 33.1 Billion by 2028

IMARC Group, a leading market research company, has recently released a report titled “Manufacturing Analytics Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global manufacturing analytics market trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What Are The Growth Prospects Of The manufacturing analytics Industry?

According to the report, The global manufacturing analytics market size reached US$ 10.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.1 Billion by 2028, exhibiting a growth rate (CAGR) of 20.8% during 2023-2028.

What is manufacturing analytics?

Manufacturing analytics collects and manipulates large amounts of data to achieve actionable insights in real-time. It relies on edge computing, predictive and big data analytics, industrial internet of things (IIoT), machine learning (ML), and to enable smarter, scalable factory solutions. Nowadays, manufacturing analytics is widely implemented across different industry verticals to ensure quality, enhance performance, increase yield, reduce costs, and optimize supply chains.

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What are the growth prospects and trends in the manufacturing analytics industry?

The global manufacturing analytics market is primarily driven by emerging automation trends in industrial processes and the growing volume of data. Manufacturing analytics help companies increase overall productivity and profitability. Besides this, the spread of the coronavirus disease (COVID-19) has resulted in supply chain disruptions and the temporary closure of various manufacturing units due to the imposition of lockdown by various governing agencies. This has prompted manufacturing entities across the globe to deploy smart manufacturing analytics solutions to mitigate the impact of the pandemic. On account of these factors, the market is anticipated to witness positive growth in the coming years.

What is included in market segmentation?

The report has segmented the market into the following categories:

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

Market 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

Who are the key players operating in the industry?

The report covers the major market players including:

  • Alteryx Inc.
  • General Electric
  • International Business Machines Corporation
  • Oracle Corporation
  • SAP SE
  • SAS Institute Inc.
  • Sisense Inc.
  • Tableau Software LLC ( Inc.)
  • TIBCO Software Inc.
  • Wipro Limited
  • Zensar Technologies Ltd.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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