Manufacturing Analytics Market Report 2031 by Segments, Geography, Dynamics, Recent Developments, and Strategic Insights

The Manufacturing Analytics Market is expected to register a CAGR of 22.7% during 2023–2031. Growing emphasis on supply chain optimization is likely to be a key trends in the market.

Manufacturing Analytics Market Analysis

• Manufacturing a product from scratch typically generates massive amounts of data. Manufacturing analytics helps to make sense of all this data by uncovering patterns and generating insights.
• These insights can help organizations improve the quality, delivery, customer experience—and ultimately, profitability of their products.
• One of the major benefits of Manufacturing Analytics is that supply chain analytics brings together data from different applications, infrastructure, third-party sources, and the newest technologies, such as IoT, to improve decision-making across the strategic, tactical, and operational processes that make up supply chain management.

Manufacturing Analytics Market Overview

• Manufacturing analytics refers to the utilization of data-analytical methods to derive meaningful insights from data captured during manufacturing. The application of manufacturing analytics helps to minimize losses from manufacturing downtime, maintain optimal planned maintenance schedules based on equipment usage and extend physical asset life.
• With the capabilities of manufacturing analytics to analyze data from sensors and in-process data from the production process, manufacturers can enhance operational efficiencies, lower costs and increase revenues.

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Manufacturing Analytics Market: Strategic Insights

Manufacturing Analytics Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Industry 4.0 Integration

FUTURE TRENDS

• Integration of predictive maintenance technology

OPPORTUNITIES

• Growing emphasis on Supply Chain Optimization

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Component

• Software
• Services

Application

• Supply Chain Management
• Customer and Sales Management
• Inventory Management
• Predictive Maintenance

Deployment Type

• On-Premise
• Cloud

Industry Vertical

• Electronics
• Automotive
• Oil and Gas
• Pharmaceutical
• Food and Beverage

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Manufacturing Analytics Market Drivers and Opportunities

Industry 4.0 Integration

• The incorporation of technologies related to Industry 4.0, such as IoT, artificial intelligence, and advanced robotics, is a major factor driving the expansion of the manufacturing analytics market.
• Such integration allows the collection and analysis of huge amounts of real-time data from detectors and sensors linked to devices in a manufacturing process. This data can be used to improve process and equipment performance, forecast asset failures, optimise supply chain management and enhance the quality of the output.

Integration of predictive maintenance technology.

• There is a tremendous market opportunity for predictive maintenance in the manufacturing analytics area, where the core idea is to predict machine failures in advance, to adjust planning of maintenance activities and to carry out preventive actions rather than intrusive maintenance jobs.
• This approach reduces operating costs, improves overall equipment effectiveness, and drives the productivity of the overall operation. As delaying unplanned downtimes is seen as a competitive advantage, demand for predictive maintenance is rising.
• This is of particular importance to those manufacturers that are now pledging to become world class producers by mastering advanced approaches to process optimisation, reducing operational disruptions and managing complex assets.

Manufacturing Analytics Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Manufacturing Analytics Market analysis are component, application, deployment type, and industry vertical.

• By component, the market is divided into software and services.
• By application, the market is divided into supply chain management, customer and sales management, inventory management, predictive maintenance, and others.
• By deployment type, the market is segmented into on-premise and cloud.
• By industry vertical, the market is segmented into electronics, automotive, oil and gas, pharmaceutical, food and beverage, and others.

Manufacturing Analytics Market Share Analysis by Geography

• The Manufacturing Analytics Market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Manufacturing Analytics Market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the Manufacturing Analytics Market in these regions.

Manufacturing Analytics Market Report Scope

Manufacturing Analytics Market News and Recent Developments

The Manufacturing Analytics Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Manufacturing Analytics Market are listed below:

• EthonAI launched its Manufacturing Analytics System (MAS). The MAS is a suite of interoperating software applications designed to tackle the most challenging problems manufacturers face today. It helps manufacturers achieve operational excellence across various use cases, including quality control, root cause analysis, and material flow analysis. (Source: EthonAI, Press Release, June 2024)
• Rootstock Software, a recognized leader in the Manufacturing Cloud ERP space, announced the launch of Enterprise Insights, the new analytics solution. This analytics solution is designed to provide manufacturers with a complete view of their business so they can chart a course toward profitability, efficiency, and value throughout their operations. (Source: Rootstock Software, News, May 2023).

Manufacturing Analytics Market Report Coverage and Deliverables

The “Manufacturing Analytics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Manufacturing Analytics Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Manufacturing Analytics Market trends as well as market dynamics such as drivers, restraints, and key opportunities.
• Detailed PEST/Porter’s Five Forces and SWOT analysis.
• Manufacturing Analytics Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Manufacturing Analytics Market.
• Detailed company profiles.