Market Size of Manufacturing Analytics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 24.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Manufacturing Analytics Market Analysis
The manufacturing analytics market is projected to register a CAGR of 24% during the forecast period (2021 - 2026). The application of analytics in various segments of the manufacturing process is increasing the demand for the manufacturing analytics market thereby minimize operational cost and streamlining the overall supply-chain logistics.
- The emergence of industrial internet of things (IIoT) along with increasing business agility and scalability has helped in the adoption of advanced data management strategies having surging demand for process optimization.
- Increasing multiple industry data sources across in-factory databases have increased the demand for big data analytics in the manufacturing sector, whereas complex operation and low return on investment from manufacturing analytics tools is hindering its market growth.
- Moreover, with the introduction of Industry 4.0, the production establishments took a step forward and implemented many IoT and IIoT solutions to get live feedback from factories and working environments.
