In a recent published report, Kenneth Research has updated the market report for Manufacturing Analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Manufacturing Analytics Market products.
Kenneth Research, in its repository of market research reports, have recently added a report on Manufacturing Analytics Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Manufacturing Analytics Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
By Deployment Model (On-demand, On-premise), Component (Software, Services), Application (Energy management, Predictive maintenance & asset management, Inventory management, Supply chain planning & procurement, Sales & customer management, Emergency management), Vertical, and Regional Market Size, Status and Forecast to 2025
The Global Manufacturing Analytics Market was valued at USD 3.25 billion in 2016 and is projected to reach USD 19.47 billion by 2025, growing at a CAGR of 22.01% from 2017 to 2025.
Manufacturing analytics is a statistical tool which performs rule-based analysis to improve business processes and production quality. Manufacturing analytics gathers data from geographically distributed resources, programmable logic controllers, historians and provide organized and modeled analysis. With manufacturing analytics we can have big data integration, reduced operational costs, predictive maintenance, early issue warning, better collaboration, and improved workforce efficiency.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Improved product design and development
1.2 Increasing adoption of cloud solutions
1.3 Rising demand for real-time streaming analytics
1.4 Growing need of advanced data management strategies across manufacturing applications
1.5 Requirement of self-service access to centrally managed data
1.6 Rising business agility and scalability
1.7 Emergence of industrial IoT
1.8 Growing demand for process optimization
2. Market Restraints
2.1 Data security and privacy concerns
2.2 Lack of technical expertise
2.3 Complex system architecture
2.4 Low return on investment
2.5 Poor integration with traditional systems
The Global Manufacturing Analytics Market is segmented on the deployment model, component, application, vertical, and region.
1. By Deployment Mode:
2. By Component:
2.2.1 Managed services
2.2.2 Professional services
188.8.131.52 Support and maintenance services
184.108.40.206 Consulting services
3. By Application:
3.1 Energy management
3.2 Predictive maintenance & asset management
3.3 Inventory management
3.4 Supply chain planning & procurement
3.5 Sales & customer management
3.6 Emergency management
4. By Vertical:
4.1 Chemicals & Basic Materials manufacturing
4.2 Electronics equipment manufacturing
4.3 Paper, pulp, plastic and rubber manufacturing
4.4 Automotive & aerospace manufacturing
4.5 Machinery & industrial equipment manufacturing
4.6 Food & beverages manufacturing
4.7 Pharmacy and life sciences
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. SAS Institute, Inc.
2. Computer Science Corporation
3. IBM Corporation
4. SAP SE
5. Tableau Software
6. 1010data, Inc.
7. Tibco Software, Inc.
8. Statsoft, Inc.
9. Zensar Technologies Ltd.
10. Oracle Corporation
11. Alteryx Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Manufacturing Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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