Manufacturing Analytics Market Size (2024 - 2029)

The manufacturing analytics market is experiencing growth driven by the increasing application of analytics across various manufacturing segments, which helps reduce operational costs and streamline supply-chain logistics. The adoption of advanced data management strategies, fueled by the industrial internet of things and the need for process optimization, is contributing to the market's expansion. However, challenges such as complex operations and low return on investment from analytics tools are hindering further growth. The implementation of IoT and IIoT solutions, particularly with the advent of Industry 4.0, has also played a significant role in enhancing data management and feedback mechanisms within production establishments.

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Market Size of Manufacturing Analytics Industry

Manufacturing Analytics Market Share
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 24.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Manufacturing Analytics Market Companies

*Disclaimer: Major Players sorted in no particular order

Manufacturing Analytics Market Analysis

The manufacturing analytics market is projected to register a CAGR of 24% during the forecast period (2021 - 2026). The application of analytics in various segments of the manufacturing process is increasing the demand for the manufacturing analytics market thereby minimize operational cost and streamlining the overall supply-chain logistics.

  • The emergence of industrial internet of things (IIoT) along with increasing business agility and scalability has helped in the adoption of advanced data management strategies having surging demand for process optimization.
  • Increasing multiple industry data sources across in-factory databases have increased the demand for big data analytics in the manufacturing sector, whereas complex operation and low return on investment from manufacturing analytics tools is hindering its market growth.
  • Moreover, with the introduction of Industry 4.0, the production establishments took a step forward and implemented many IoT and IIoT solutions to get live feedback from factories and working environments.

Manufacturing Analytics Industry Segmentation

Manufacturing analytics is used for gathering data from local or geographically distributed sources in the form of different data streams, that can be organized and structured to enable meaningful analysis. It helps in utilizing the existing production data by integrating and visualizing the data to further analyze it by using suitable data mining methods. Standalone manufacturing analytics solutions such as root-cause analysis, process debottleneck analysis, defect reduction initiatives among others, are considered under the scope of the market.

By Deployment
Cloud-based
On-premise
By Appllication
Inventory Management
Supply Chain Optimization
Predictive Maintenance
Other Applications
By End-user Industry
Electronics
Oil & Gas
Automotive
Pharmaceutical
Food & Beverage
Other End-user Industries
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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Manufacturing Analytics Market Size Summary

The manufacturing analytics market is experiencing significant growth, driven by the increasing application of analytics across various manufacturing processes. This trend is largely due to the need for minimizing operational costs and streamlining supply chain logistics. The rise of the industrial internet of things (IIoT) has further propelled the adoption of advanced data management strategies, enhancing business agility and scalability. However, challenges such as complex operations and low return on investment from analytics tools are hindering market expansion. The advent of Industry 4.0 has encouraged production facilities to implement IoT and IIoT solutions, enabling real-time feedback from factories and work environments, which is crucial for process optimization.

In the automotive sector, the shift towards a data-driven approach is helping to mitigate costs related to faulty assembly and overstocking, while also improving maintenance planning for assembly lines. The integration of predictive analytics and big data analytics has been instrumental in centralizing data across multiple sites, ensuring consistency in manufacturing workflows. North America leads the market due to its focus on innovation and research in manufacturing analytics technology, supported by the presence of major industry players like SAP SE, IBM Corporation, and General Electric Company. The market is moderately competitive, with key players expanding their presence through innovations in the cloud segment, aiming to capture a broader customer base.

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Manufacturing Analytics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Introduction to Market Drivers and Restraints

    3. 1.3 Market Drivers

      1. 1.3.1 Adoption of BI and Advanced Data Management Strategies in Manufacturing Applications

      2. 1.3.2 Increasing Application of Industry 4.0 Across Various Segments of Manufacturing Industries

    4. 1.4 Market Restraints

      1. 1.4.1 High Initial Investment in the Transation of IIoT Across Industrial Region

    5. 1.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Technology Snapshot

      1. 1.6.1 Machine Learning Algorithm (Contextual Analysis)

      2. 1.6.2 AI-Driven Recommendation (Smart Analytics)

      3. 1.6.3 Operational Dashboards (Data Visualization)

      4. 1.6.4 IoT & Streaming Analytics (Advanced Analytics)

      5. 1.6.5 Built-in Predictive Maintenance (Predictive Analytics)

      6. 1.6.6 Big Data Analytics (Deep Insights)

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Deployment

      1. 2.1.1 Cloud-based

      2. 2.1.2 On-premise

    2. 2.2 By Appllication

      1. 2.2.1 Inventory Management

      2. 2.2.2 Supply Chain Optimization

      3. 2.2.3 Predictive Maintenance

      4. 2.2.4 Other Applications

    3. 2.3 By End-user Industry

      1. 2.3.1 Electronics

      2. 2.3.2 Oil & Gas

      3. 2.3.3 Automotive

      4. 2.3.4 Pharmaceutical

      5. 2.3.5 Food & Beverage

      6. 2.3.6 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia-Pacific

      4. 2.4.4 Latin America

      5. 2.4.5 Middle East & Africa

Manufacturing Analytics Market Size FAQs

The Manufacturing Analytics Market is projected to register a CAGR of 24% during the forecast period (2024-2029)

SAP SE, Oracle Corp., SAS Institute Inc., salesforce.com Inc. (Tableau Software Inc.) and TIBCO Software Inc. are the major companies operating in the Manufacturing Analytics Market.

Manufacturing Analytics Market Report Snapshots

Manufacturing Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)