Market Trends of Capacity Management Analytics Industry
This section covers the major market trends shaping the Capacity Management Analytics Market according to our research experts:
Manufacturing Segment is Expected to Witness Significant Growth
- The increasing data about the company's products and the manufacturing process has given the planners much more valuable information to analyze. By considering various factors, planners are now able to better predict the previously unpredictable issues that come up by analyzing the variables that negatively affect the manufacturing quality.
- Without the usage of analytics, manufacturing planners previously devoted long stretches of time in order to map out the creative solutions in order to maximize the usage of machines and other resources that are available on the factory floor. Capacity management analytics has removed much of the time-intensive planning through automation.
- With the advent of industry 4.0 in the manufacturing industry, various plants are adopting digital technologies to enhance, automate, and modernize the whole process. The integration of different digital transformation technologies, such as the internet of things (IoT), are significantly becoming prevalent, as it provides exceptional benefits. This has given rise to enormous data that can be analyzed to streamline the process.
- The merging of Big Data with newer technologies has made processing large data sets easier than ever, and from mining Big Data to predictive analytics, manufacturing organizations are increasingly relying on these new, intelligent tools to help them succeed. The German Machinery and Plant Manufacturing Association indicates that, in 2020, big data-based business models are expected to contribute at least 7% more revenue to German manufacturing companies that they currently provide.
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North America is Expected to Witness Significant Growth
- The North American region is anticipated to significant growth in the capacity management analytics market owing to the presence of multiple noticeable providers of these solutions and services such as IBM, BMC Software, VMware, among others.
- The modern manufacturing facilities in the United States currently rely on new technologies and innovations to produce higher quality products at a significant rate, with lower costs. Owing to the organization's early adoption of advanced technologies, such as IoT, big data, DevOps, and mobility, manufacturers in the United States are expected to create a demand for these solutions in order to streamline their processes and use its deeper insights.
- Moreover, the region is one of the leading innovators and pioneers, in terms of the adoption of analytics-based solutions, which is one of the largest markets. The increasing demand in the region is primarily driven, owing to a higher focus on innovations through R&D and technological advancements in the developed economies, such as the United States and Canada.
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