Manufacturing Analytics Market Growth Analysis with Investment Opportunities For 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 21, 2024 /EINPresswire.com/ — The manufacturing analytics market has experienced robust growth in recent years, expanding from the market is projected to grow from $11.75 billion in 2023 to $14.26 billion in 2024, reflecting a compound annual growth rate (CAGR) of 21.4%. This growth during the historical period can be linked to the rising demand for operational efficiency and cost savings, initiatives aimed at quality enhancement, optimization of supply chains, advancements in data processing and storage technologies, the rise of cloud-based solutions, and a focus on real-time analytics.

What Is The Estimated Market Size Of The Global Manufacturing Analytics Market And Its Annual Growth Rate?
The manufacturing analytics market is projected to continue its strong growth, reaching the market is expected to reach $32.39 billion by 2028, with a compound annual growth rate (CAGR) of 22.8%. This growth during the forecast period can be attributed to the enhancement of robotics data via analytics, the need for flexibility and scalability in analytics solutions, improved cybersecurity measures for manufacturing data, optimization of energy efficiency through analytics, and advancements in data visualization and reporting tools.

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Growth Driver Of The Manufacturing Analytics Market
The growing adoption of IoT is anticipated to drive the expansion of the manufacturing analytics market in the future. The Internet of Things (IoT) consists of a network of interconnected physical devices and objects capable of collecting and exchanging data online. By integrating IoT, manufacturers can gather extensive real-time data from their processes and equipment, allowing for enhanced insights into their operations. As manufacturers increasingly utilize IoT for more intelligent and interconnected production processes, the demand for advanced manufacturing analytics solutions is projected to rise significantly.

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Which Market Players Are Steering The Manufacturing Analytics Market Growth?
Key players in the market include SAP SE, Oracle Corporation, SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc., International Business Machines Corporation, Alteryx Inc., Sisense Inc., Wipro Limited, Bridgei2i Analytics Solutions, Cisco Systems Inc., FICO, Domo Inc., Neubrain Solutions Private Limited, Aegis Software, MachineMetrics Inc., Lantek, General Electric Company, Dell Technologies Inc., Computer Science Corporation, Zensar Technologies Ltd, Northwest Analytics Inc., DXC Technology Company, QlikTech Inc., Microsoft Corporation, Emergen Research, Siemens AG, Hitachi Ltd, Rockwell Automation Inc., Honeywell International Inc., Schneider Electric SE, PTC Inc., Sight Machine Inc., InfinityQS International Inc., Intelligent Quality Management Software, Epicor Software Corporation.

What Are The Key Trends That Influence Manufacturing Analytics Market Size?
Key players in the manufacturing analytics market are embracing a strategic partnership model to enhance their service offerings. These strategic partnerships involve companies utilizing each other’s strengths and resources to achieve shared benefits and success.

How Is The Global Manufacturing Analytics Market Segmented?
1) By Component: Software, Services
2) By Deployment: Cloud, On Premise
3) By Application: Predictive Maintenance, Inventory Management, Supply Chain Optimization, Other Applications
4) By Industry Vertical: Semiconductor and Electronics, Energy and Power, Pharmaceutical, Automobile, Heavy Metal and Machine Manufacturing, Other Industry Verticals

Geographical Insights: North America Leading The Manufacturing Analytics Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Manufacturing Analytics Market Definition
Manufacturing analytics are statistical tools designed to facilitate rule-based analysis of manufacturing data and information, enabling users to gain insights into processes and improve business operations and product quality. By leveraging manufacturing analytics, organizations can identify potential issues before they arise, which may affect product quality, yield, or costs. These analytics are utilized to enhance process efficiency and centralize production monitoring.

Manufacturing Analytics Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global manufacturing analytics market report covering trends, opportunities, strategies, and more
The Manufacturing Analytics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on manufacturing analytics market size, manufacturing analytics market drivers and trends and manufacturing analytics market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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