Market Trends of Manufacturing Analytics Industry
This section covers the major market trends shaping the Manufacturing Analytics Market according to our research experts:
Automotive Sector is Expected to Grow at a Significant Rate
- The automotive industry is currently transitioning towards a more data-driven industry to avoid the costs associated with faulty assembly, over inventory stocking, and can plan for the maintenance of the assembly lines more accurately. It has all been possible due to the adoption of predictive analytics in the industry.
- With the emergence of industry IoT, a networked system, M2M communication the automotive industry is positioning itself towards industry 4.0 ready. Sensors, RFIDs, barcode readers, and robots are now standard in the industry’s manufacturing floor. These devices have increased the data generation points exponentially.
- Big data analytics, especially with the advancement of predictive analytics, is a growing at a tremendous rate and helps in centralizing the data across multiple sites so that the consistency of data is achieved during the manufacturing workflow across the automotive sector.
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North America is Expected to be the Largest Market
- North America is the leading market due to increasing focus on innovations, as well as ongoing research, and development in manufacturing analytics technology for stable economic growth in the US and Canada.
- The early adoption of these tools among the manufacturing sector is an important factor behind the growth of the market in North America. With the significant presence of manufacturing sector especially heavy industries across the region is expected to be the front-runners in the growth of manufacturing analytics market.
- Moreover, the presence of some the prominent players of the manufacturing analytics market such as SAP SE, IBM Corporation, General Electric Company, TIBCO Software, among others across the North America region is driving the growth of the market during the forecast period.
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