The manufacturing analytics market size is expected to grow from USD 3.14 Billion in 2016 to USD 8.45 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period. The major growth drivers of the market include the adoption of advanced data-management strategies across the varied manufacturing applications, need for process optimization, emergence of industrial Internet of Things (IoT), increased business agility and scalability, and self-service access to centrally managed data.
The manufacturing analytics market is segmented by software and services. The services segment is expected to grow at the highest CAGR during the forecast period; consulting services in the services segment is projected to witness the highest demand due to the growing need of organizations to comply with the different labor laws and regulations across the globe.
Electronics equipment manufacturing holds the largest share of the manufacturing analytics market in 2016. The growth is fueled by the growing need of people to simplify their workload and their increasing dependence on electronic equipment. Food and beverages manufacturing is expected to grow at the highest CAGR during the forecast period due to the increasing need to improve quality and quantity of products in a cost-effective way.
Major applications for which the manufacturing analytics is used are predictive maintenance & asset management, inventory management, supply chain planning & procurement, energy management, safety & facility management, and sales & customer management. The adoption of analytics for energy measurement is expected to increase significantly in the coming years because of the increasing adoption of smart grid and smart energy technologies across manufacturing organizations.
Organizations are fast deploying manufacturing analytics solutions either on their premises or on-cloud. The demand for on-demand or cloud-based manufacturing analytics solutions is increasing due to cost-effective and time-efficient features; its growth is specifically high in enterprises, where low cost solutions are much required.
Computer Science Corporation (CSC)
International Business Machines Corporation
SAS Institute, Inc.
Tibco Software, Inc.
Zensar Technologies Ltd.
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Manufacturing Analytics Market Analysis, By Type
7 Market Analysis, By Application
8 Market Analysis, By Deployment Model
9 Manufacturing Analytics Market Analysis, By Industry Vertical