Global Manufacturing Analytics Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Manufacturing Analytics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global manufacturing analytics market report has been segmented on the basis of component, deployment mode, industry vertical, and region.

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Global Manufacturing Analytics Market: Overview

Analytics when used in manufacturing processes provides performance and quality metrics of its entire production line. Manufacturing analytics is normally paired with big data, predictive analytics, industrial internet of things (IIOT) devices among various manufacturing companies.

Global Manufacturing Analytics Market: Dynamics

Emergence of technologies is rising awareness for analytics. Analytic technologies such as predictive, prescriptive, and others are making its way across various industrial verticals. In manufacturing, big data visualization dashboards display analytical data. this data represents actionable insights that can fine-tune a production line. This is a factor expected to drive growth of the market globally.

In addition, analytics helps to streamline manufacturing operations, provide cost and efficiency of a component from production to end user, and many other functionalities. Thus, the global market is expected grow at a high rate owing to various functionalities offered by analytics in manufacturing.

Increasing adoption of advanced data management strategies that provide self-served access to centrally managed data for varied manufacturing applications is resulting into high adoption of analytics owing to availability of data silos. This in turn is expected to boost market growth globally over the forecast period.

Emergence of Industrial Internet of Things (IIoT), i.e. Industrial 4.0 revolution is expected to increase adoption of analytical technologies in manufacturing sector owing to its ability to automate operations and processes. Aforementioned is a factor that is expected to fuel growth of the market in the near future.

However, high complexity associated with integration of legacy systems and high initial setup cost for advance manufacturing analytics systems are major factor that could hamper market growth to a certain extent.

Global Manufacturing Analytics Market: Segment Analysis

Growing need to comply with multiple labor regulations and laws in manufacturing facilities across the globe is a key factor expected to drive the growth of consulting services segment during the forecast period. Thus, among the component segments, the consulting services segment is expected dominate in the global market.

Among the industrial vertical segments, the electronics equipment segment is expected to dominate in the target market. Increasing demand for smart devices and intelligent systems the electronic manufacturing players are opting for high adoption of analytics. As analytics offers business, consumer, and production insights, manufactures are inclining towards this technology for provide highly tech savvy products.

Global Manufacturing Analytics Market: Region Analysis

The North America market is expected to dominate in terms of revenue share, owing to countries in this region have witnessed high adoption of technologically advanced products, as well as presence of high number of players that are operating in this region.

Market in Europe is expected to contribute a significant revenue share in the target market. the government in Europe is increasing focus towards well developed and advance manufacturing facilities. Thus, increasing the growth of adoption of technologies in various manufacturing industries in this region.

Global Manufacturing Analytics Market Segmentation:

Segmentation by Component:

Software
Managed Services
Consulting Services
Support and Maintenance Services
Deployment and Integration Services

Segmentation by Deployment Mode:

Cloud
On-Premises

Segmentation by Industry Vertical:

Food & Beverages
Electronics Equipment
Chemicals and Materials
Automotive and Aerospace
Pulp, Rubber, Plastic, and Paper
Machinery and Industrial Equipment
Others (Healthcare, Energy and Utilities, Pharma and Life Sciences, Construction)