World Manufacturing Analytics Market to See 21.9% CAGR through 2021, States M&M in Its New Report Published at MarketPublishers.com
23 Jun 2016 • by Natalie Aster
LONDON – The global manufacturing analytics market is forecast to grow at a CAGR of 21.9% in the years to come, from USD 3.14 billion as of 2016 to be worth USD 8.45 billion by end-2021. The manufacturing analytics sector is recording fast growth owing to the shift from conventional business intelligence (BI) techniques to progressive analytics techniques and the immense upsurge of unstructured and structured shop floor data.
Inventory management will possibly account for the majority market share by 2016 as inventory cost is deemed to be the biggest component in working assets for any producer.
Analytics solutions for manufacturing have been rolled out across different manufacturing industry sectors, including aerospace and automotive, food & drinks, electronics equipment, pharmaceutical & life sciences, and also chemicals and materials. Food and beverages production sector is set to grow at the fastest CAGR in the foreseeable future on the back of the rising demand for foods in various regions which leads to increased amount of information generation.
North America, followed by Europe, is projected to keep on generating the lion’s share of global revenue for the vendors in the space over the next 5 years. This is primarily owing to the presence of different developed economies like Canada and the USA and on account of the high emphasis on innovations through R&D and technology across manufacturing sector.
New research report “Manufacturing Analytics Market” drawn up by M&M provides a comprehensive guide to the sector on a global level. It segments the market based on application, type, model of deployment, industry vertical, and geography. The revenue numbers are offered for the overall market and the sub segments, with the figures further broken down across the manufacturing industry verticals and regions. It also includes granular unbiased information pertaining to the major factors impacting the growth of the market like drivers, limiters, challenges, and opportunities. The study presents in-depth examination of the competitive landscape including profiling of the versatile market players. It also gives insights into the future development path of the ecosystem to 2021.
Companies mentioned include: SAS Institute, Tableau Software, Tibco Software, Oracle Corporation, IBM Corporation, Computer Science Corporation, Dell Statsoft, SAP SE, Zensar Technologies Ltd., 1010Data, and Alteryx.
More studies by M&M are available at the publisher’s page.