The market was valued at USD XX billion in 2016 and is projected to reach USD XX billion by 2022, registering a CAGR of XX%, during 2017-2022 (the forecast period).
Predictive analytics in manufacturing is a technique that uses statistical tools to predict the future events by making use of data from the past and present. In the era of smart manufacturing, predictive analytics is considered to play an important role in advancing the manufacturing industry to the next level by making the industry transform toward digital revolution. Manufacturing industry is exhaustive and there are several data points where the information is gathered for future use of analysis and manufacturing predictive analytics is used to detect future problems. There are several data mining software programs available in the market today that can perform analysis using statistical models, with very few being open source softwares. Predictive analytics is considered one of the most crucial technologies in the field of advanced manufacturing and manufacturers are expected to benefit from this technique of analyzing data, to achieve various improvements in their manufacturing processes. Some of them include improvement of product quality, understanding the market trends & forecasting the demand, improvement of production efficiency by making better use of the machines to reduce the machine idle time, deployment of safety techniques and carrying out preventive maintenance. A study suggests that predictive maintenance can enable the world’s manufacturing industry to save up to USD 700 billion over the next two decades.
Market Dynamics
Over the years, improvement of safety in factories is one of the primary concerns of the manufacturing industry. Furthermore, machine breakdowns are also causing severe production loses in the manufacturing industry. Demand for better safety, reduction of costs and machine utilization are driving the global market for manufacturing predictive analytics. Aerospace components require high-quality standards and a surge in the aerospace and defense industry is expected to further drive the manufacturing predictive analytics market. However, the market has a few constraints. Lack of data privacy and data storage issues are expected to restrict the market growth. However, the manufacturing predictive analytics market is expected to thrive as the manufacturing industry across all regions is looking forward to improve its operations by adapting new tools and techniques. Emerging markets such as India and China are providing market opportunities for manufacturing predictive analytics, with Asia-Pacific registering the highest growth. The United States is dominating the market with the highest market share in manufacturing predictive analytics and the growth is expected to accelerate further as there is an increase in public investments and policies favoring its advancement. The companies dominating this market are listed in the report. Companies like IBM are trying to harness the usage of IoT in the manufacturing industry by investing in advanced applied research.
Manufacturing Predictive Analytics Market, by Application
Scope of the Report:
India Manufacturing Predictive Analytics Market Analysis, by Application
India Manufacturing Predictive Analytics Market Analysis, by Type
India Manufacturing Predictive Analytics Market Analysis, by Function
India Manufacturing Predictive Analytics Market Analysis, by End-user
Key Company Players (List not exhaustive)
Key Deliverables in the Study
1. Executive Summary
2. Market Overview
2.1 Introduction
2.2 Market Demand until 2022
2.3 Government Policies and Regulations
2.4 Global Economic Activity and Data Science in Manufacturing Industry
3. Market Dynamics
3.1 Drivers
3.2 Constraints
3.3 Opportunities
4. India Manufacturing Predictive Analytics Market
4.1 Porter's Analysis
4.2 Industry Value Chain and Cost Structure Analysis
4.3 PESTLE Analysis (Overview): Macro market factors pertinent to this region
5. India Manufacturing Predictive Analytics Market, by Application
5.1 Quality Improvement
5.2 Market Demand Forecast
5.3 Machine Utilization
5.4 Safety & Preventive Maintenance
5.5 Others
6. India Manufacturing Predictive Analytics Market, by Type
6.1 Software
6.2 Hardware
6.3 Other services
7. India Manufacturing Predictive Analytics Market, by Function
7.1 On-premise
7.2 Off-premise
7.2.1 Cloud based
7.2.2 Server based
8. India Manufacturing Predictive Analytics Market, by End User
8.1 Automotive
8.1.1 Overview
8.1.2 Market Size and Forecast
8.1.3 Recent Developments
8.2 Aerospace
8.2.1 Overview
8.2.2 Market Size and Forecast
8.2.3 Recent Developments
8.3 Building Construction
8.3.1 Overview
8.3.2 Market Size and Forecast
8.3.3 Recent Developments
8.4 Chemical
8.4.1 Overview
8.4.2 Market Size and Forecast
8.4.3 Recent Developments
8.5 Others
8.5.1 Overview
8.5.2 Market Size and Forecast
8.5.3 Recent Developments
9. Investment Outlook
9.1 Direct Investment
9.2 Indirect Investment
10. Key Company Players
10.1 International Players (List not exhaustive)
10.1.1 IBM
10.1.2 Microsoft
10.1.3 Oracle
10.1.4 SAS
10.1.5 Cambridge Analytica
10.1.6 Civis Analytics
10.1.7 RapidMiner
10.1.8 SAP SE
10.2 Local Players
11. Competitive Landscape
11.1 Industry Concentration Analysis
11.2 Industry Predictability and Industry Malleability Analysis
11.3 Mergers & Acquisitions
11.4 Joint Ventures, Collaborations and Agreements
12. Appendix
12.1 Disclaimer
12.2 Contact Us