Manufacturing Analytics Market – Overview
The global manufacturing analytics market is showing immense growth; mainly due to the growing need for process optimization and increased business agility and scalability. Manufacturing analytics applications comprise of various types such as predictive maintenance & asset management, inventory management, supply chain planning & procurement, energy management and others. Out of which, energy management application is expected to grow at the highest rate during the forecast period. This is owing to the increasing adoption of smart grid and smart energy technologies across different manufacturing organizations. Whereas, the electronics vertical is expected to hold the largest market share of the manufacturing analytics market. According to a recent study report published by Market Research Future, The global market of manufacturing analytics is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2027 with a striking CAGR during the anticipated period (2017 – 2027).
Also, increasing adoption of advanced data-management strategies across varied manufacturing applications, and increasing need for process optimization is one major factor responsible for the growth of Manufacturing Analytics Market. Reduced cost of operation and flexibility to match custom requirements is one of the major factors driving the growth of manufacturing analytics market. Also, increased business agility and emergence of industrial IoT are other major factors responsible for driving the growth of manufacturing analytics market. On the other hand, complex system structure and lower return on investment are major factors hindering the growth of manufacturing analytics market. Also, lack of integration with legacy systems is another factor that may hamper the market growth.
SAS Institute (U.S.), Tableau Software (U.S.), Tibco Software (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Wipro Limited (India), Computer Science Corporation (U.S.), Dell Statsoft (U.S.), SAP SE (Germany), Zensar Technologies Ltd. (India), 1010Data (U.S.), and Alteryx (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Manufacturing Analytics Market.
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December 2017 – Zensar Tech expects digital to hit over 50% revenue in 2-3 years. The average digital deal sizes are also expected to triple to $10 million plus from $3-5 million currently. The company is majorly focusing on adding strategic value in digital, cloud, analytics, customer experience, and cyber security.
May 2017 – Zensar Technologies has launched a big data enabled platform that enables seamless end to end information management. The platform empowers the organization to drive an analytics driven decision making culture by integrating existing information assets with unstructured and voluminous data sets. It provides context aware ‘Analytics Data Hub’ as a service, rapid value delivery platform and addresses multiple big data problems.
Manufacturing Analytics Market – Competitive Analysis
The market of manufacturing analytics appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Manufacturing Analytics Market – Segmentation
Segmentation by Component: Comprises of Software and Services
Segmentation by Deployment: Comprises of On Demand and On Premise
Segmentation by Application: Comprises Of Predictive Maintenance & Asset Management, Inventory Management, Supply Chain Planning & Procurement, Energy Management, Emergency Management, Sales & Customer Management & Others
Segmentation by Vertical: Comprises of Automotive, Aerospace, Electronics, Food & Beverages, Chemicals, Industrial, Pharmaceuticals & Life Sciences and Others
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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Manufacturing Analytics Market – Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the manufacturing analytics market in North America owing to the presence of a large number of established key players such as SAS Institute, Tableau Software, Tibco Software, Oracle Corporation, IBM Corporation, Computer Science Corporation, and Dell Statsoft among others. Also, U.S. is leading the market in North America due to the rising demand for process optimization in the region. Also, due to increasing adoption of advanced data management strategies across varied manufacturing applications is expected to help the region to gain the maximum share of the manufacturing analytics market. Manufacturing analytics market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2027 due to rise in IT solutions and increased business agility and scalability in countries like Japan, China and India in the region. Whereas, the Europe market for manufacturing analytics is expected to grow at a considerable CAGR (2017-2027).
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