LONDON, June 29, 2016 /PRNewswire/ -- "Massive surge in structured and unstructured shop floor data is driving the growth"
MarketsandMarkets estimates the global manufacturing analytics market to grow from USD 3.14 billion in 2016 to USD 8.45 billion by 2021, at a Compound Annual Growth Rate of 21.9%. The manufacturing analytics market is growing rapidly because of the transition from traditional Business Intelligence techniques to advanced analytics techniques and the massive surge of structured and unstructured shop floor data.
"Inventory Management application to have the largest market size in 2016"
Inventory management is estimated to have the largest market share in 2016 as inventory cost is considered to be the largest component in working capital for any manufacturer.
"Food and beverages manufacturing vertical to have the highest growth rate during the forecast period"
Manufacturing analytics solutions have been deployed across various manufacturing industry verticals, including automotive and aerospace, food & beverages, electronics equipment, pharma & life sciences, and chemicals & materials. Food and beverages manufacturing industry vertical is expected to witness the highest CAGR during the forecast period because of the increasing demand for food products across regions which results in higher amount of data generation.
"North America is expected to hold the largest market share"
North America, followed by Europe, is expected to continue being the largest revenue generating region for the manufacturing analytics vendors for the next five years. This is mainly due to the presence of various developed economies such as Canada and the U.S. and because of the high focus on innovations through research and development and technology across manufacturing sector.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the manufacturing analytics marketplace.
By Company type – Tier 1- 20%, Tier 2- 42%, Tier 3- 38%
By Designation – C-Level – 55%, Director Level- 26%. Others- 19%
By Region – North America- 47%, Europe-32%, Asia-Pacific- 21%
The report includes the study of key players offering manufacturing analytics software and services: SAS Institute , Tableau Software , Tibco Software , Oracle Corporation , IBM Corporation , Computer Science Corporation , Dell Statsoft , SAP SE , Zensar Technologies Ltd. , 1010Data , and Alteryx . Furthermore, the report also includes in-depth competitive analysis of the key players in the manufacturing analytics market, with their company profiles, SWOT analysis, recent developments, and key market strategies.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various subsegments, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across different manufacturing industry verticals and regions.
2. This report will help in better understanding of the competitors and gain more insights to better one's position in the market. There is a separate section on competitive landscape, which includes competitor ecosystem, mergers and acquisitions, integrations and expansions, and collaborations of various market vendors. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
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