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- Manufacturing Predictive Analytics Market – Size, Outlook, Trends and Forecast (2024 – 2032)
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 essential role in advancing the manufacturing industry to the next level by making the industry transform toward digital revolution. The 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. 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 analysing data, to achieve various improvements in their manufacturing processes.
Global Manufacturing Predictive Analytics Market Segments Size & Growth:
Global manufacturing predictive analytics market size is projected to reach approximately $9.58 billion by the end of 2024 with a CAGR of close to 22.30% from $3.16 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include increased need for process optimisation, the emergence of the industrial internet of things, increased business agility and scalability, self-service access to centrally managed data, and adoption of advanced data management strategies across varied manufacturing applications. However, Lack of integration with legacy systems, complex system structure, and lower return on investment are thereby hampering the market growth.
Global Manufacturing Predictive Analytics Market Segments Share:
Global Manufacturing Predictive Analytics Market is categorised into Type which comprises of Software, Hardware, and Others. By Function, the market is segmented into On-premise and Off-premise. By Application, the market is segmented into Predictive Maintenance and Asset Management, Inventory Management, Supply Chain Planning and Procurement, Energy Management, Emergency Management, Sales and Customer Management, and Others. By End-User, the market is segmented into Automotive, Aerospace, Building Construction, Chemical, and Others. Among them, Aerospace holds the most significant share in the market due to the requirement of high-quality standards. By Geography, North America is projected to dominate the market with the most significant percentage and the Asia Pacific is the fastest growing region because of increase in public investments and policies favouring its advancement.
Global Manufacturing Predictive Analytics Market Trends:
- Companies like IBM are trying to harness the usage of IOT in the manufacturing industry by investing in advanced applied research.
- Luminous Power Technologies, a leading home electrical player in India with a vast portfolio comprising power backup solutions, has announced the launch of its next-generation Connected Solar Inverter, powered by the iQu Internet of Things (IoT) platform from iBot Control Systems. Built on Microsoft’s Azure Hyper-scale cloud as the engine of intelligence, a set of mobile and web apps would actively monitor power savings, battery health, and also run predictive maintenance enabling more considerable energy savings.
- SAP SE announced that they are Introducing Machine Learning and Predictive Analytics to Cloud-Based Integrated Business Planning Suite and increasing automation capabilities for SAP Integrated Business Planning, its cloud-based solution for sales and operations planning, demand sensing and forecasting, inventory, and supply optimisation, and exception-driven response management.
Global Manufacturing Predictive Analytics Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The primary market players, such as
- IBM
- Microsoft
- Oracle
- SAS
- Cambridge Analytica
1. Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
3. Market Analysis
3.1 Industry Value Chain Analysis
3.2 Porter’s Five Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 PESTLE Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
4. Market Dynamics
4.1 Drivers
4.1.1 Self-Service Access to Centrally Managed Data
4.1.2 Increased Business Agility and Scalability
4.1.3 Emergence of Industrial Internet of Things (IIoT)
4.1.4 Increasing Need for Process Optimization
4.1.5 Adoption of Advanced Data Management Strategies Across Varied Manufacturing Applications
4.2 Restraints
4.2.1 Lower Return on Investment
4.2.2 Lack of Integration with Legacy Systems
4.2.3 Complex System Structure
4.3 Opportunities
4.3.1 Improved Product Design and Development
4.3.2 Rising Cloud Adoption Trends
4.3.3 Increasing Demand for Real-Time Streaming Analytics
4.4 Challenges
4.4.1 Lack of Appropriate Analytical Skills
4.4.2 Data Security and Privacy
5. Global Manufacturing Predictive Analytics Market – By Type
5.1 Software
5.2 Hardware
5.3 Other Services
6. Global Manufacturing Predictive Analytics Market – By Function
6.1 Off-Premise
6.1.1 Cloud-Based
6.1.2 Server Based
6.2 On-Premise
7. Global Manufacturing Predictive Analytics Market- By Application
7.1 Sales and Customer Management
7.2 Emergency Management
7.3 Energy Management
7.4 Supply Chain Planning and Procurement
7.5 Inventory Management
7.6 Predictive Maintenance and Asset Management
7.7 Others
8. Global Manufacturing Predictive Analytics Market- By End-User
8.1 Chemical
8.2 Aerospace
8.3 Automotive
8.4 Building Construction
8.5 Others
9. Global Manufacturing Predictive Analytics Market – By Geography
9.1. Introduction
9.2. North America
9.2.1. USA
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1 Brazil
9.3.2 Argentina
9.3.3 Rest of South America
9.4. Europe
9.4.1. U.K.
9.4.2. Germany
9.4.3. France
9.4.4. Italy
9.4.5. Spain
9.4.6. Rest of Europe
9.5. APAC
9.5.1. China
9.5.2. India
9.5.3. Japan
9.5.4. South Korea
9.5.5. Australia & New Zealand
9.5.6. Rest of APAC
9.6. Middle East & Africa
9.6.1. The Middle East
9.6.2. Africa
10. Company Profiles
10.1 International Business Machines Corporation
10.2 Tableau Software
10.3 Oracle Corporation
10.4 SAP SE
10.5 Zensar Technologies Ltd.
10.6 SAS Institute, Inc.
10.7 Computer Science Corporation (CSC)
10.8 Tibco Software, Inc.
10.9 Statsoft, Inc.
10.10 Alteryx, Inc.
10.11 1010data, Inc.
10.12 IBM
10.13 Microsoft
10.14 Cambridge Analytica
10.15 Civis Analytics
11. Global Manufacturing Predictive Analytics Market – Competitive Landscape
11.1 Market Share Analysis
11.2 Strategies Adopted by top companies
11.3 Mergers, Acquisitions, Collaborations & Agreements
12. Market Insights
12.1 Insights of Industry Experts
12.2 Investment Opportunities
12.3 Analyst Opinion
13. Appendix
13.1 List of Tables
13.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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Additional information
Report Type | Extensive Report, Miniature report, Snapshot Report |
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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 essential role in advancing the manufacturing industry to the next level by making the industry transform toward digital revolution. The 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. 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 analysing data, to achieve various improvements in their manufacturing processes.
Global Manufacturing Predictive Analytics Market Segments Size & Growth:
Global manufacturing predictive analytics market size is projected to reach approximately $9.58 billion by the end of 2024 with a CAGR of close to 22.30% from $3.16 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include increased need for process optimisation, the emergence of the industrial internet of things, increased business agility and scalability, self-service access to centrally managed data, and adoption of advanced data management strategies across varied manufacturing applications. However, Lack of integration with legacy systems, complex system structure, and lower return on investment are thereby hampering the market growth.
Global Manufacturing Predictive Analytics Market Segments Share:
Global Manufacturing Predictive Analytics Market is categorised into Type which comprises of Software, Hardware, and Others. By Function, the market is segmented into On-premise and Off-premise. By Application, the market is segmented into Predictive Maintenance and Asset Management, Inventory Management, Supply Chain Planning and Procurement, Energy Management, Emergency Management, Sales and Customer Management, and Others. By End-User, the market is segmented into Automotive, Aerospace, Building Construction, Chemical, and Others. Among them, Aerospace holds the most significant share in the market due to the requirement of high-quality standards. By Geography, North America is projected to dominate the market with the most significant percentage and the Asia Pacific is the fastest growing region because of increase in public investments and policies favouring its advancement.
Global Manufacturing Predictive Analytics Market Trends:
- Companies like IBM are trying to harness the usage of IOT in the manufacturing industry by investing in advanced applied research.
- Luminous Power Technologies, a leading home electrical player in India with a vast portfolio comprising power backup solutions, has announced the launch of its next-generation Connected Solar Inverter, powered by the iQu Internet of Things (IoT) platform from iBot Control Systems. Built on Microsoft’s Azure Hyper-scale cloud as the engine of intelligence, a set of mobile and web apps would actively monitor power savings, battery health, and also run predictive maintenance enabling more considerable energy savings.
- SAP SE announced that they are Introducing Machine Learning and Predictive Analytics to Cloud-Based Integrated Business Planning Suite and increasing automation capabilities for SAP Integrated Business Planning, its cloud-based solution for sales and operations planning, demand sensing and forecasting, inventory, and supply optimisation, and exception-driven response management.
Global Manufacturing Predictive Analytics Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The primary market players, such as
- IBM
- Microsoft
- Oracle
- SAS
- Cambridge Analytica
1. Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
3. Market Analysis
3.1 Industry Value Chain Analysis
3.2 Porter’s Five Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 PESTLE Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
4. Market Dynamics
4.1 Drivers
4.1.1 Self-Service Access to Centrally Managed Data
4.1.2 Increased Business Agility and Scalability
4.1.3 Emergence of Industrial Internet of Things (IIoT)
4.1.4 Increasing Need for Process Optimization
4.1.5 Adoption of Advanced Data Management Strategies Across Varied Manufacturing Applications
4.2 Restraints
4.2.1 Lower Return on Investment
4.2.2 Lack of Integration with Legacy Systems
4.2.3 Complex System Structure
4.3 Opportunities
4.3.1 Improved Product Design and Development
4.3.2 Rising Cloud Adoption Trends
4.3.3 Increasing Demand for Real-Time Streaming Analytics
4.4 Challenges
4.4.1 Lack of Appropriate Analytical Skills
4.4.2 Data Security and Privacy
5. Global Manufacturing Predictive Analytics Market – By Type
5.1 Software
5.2 Hardware
5.3 Other Services
6. Global Manufacturing Predictive Analytics Market – By Function
6.1 Off-Premise
6.1.1 Cloud-Based
6.1.2 Server Based
6.2 On-Premise
7. Global Manufacturing Predictive Analytics Market- By Application
7.1 Sales and Customer Management
7.2 Emergency Management
7.3 Energy Management
7.4 Supply Chain Planning and Procurement
7.5 Inventory Management
7.6 Predictive Maintenance and Asset Management
7.7 Others
8. Global Manufacturing Predictive Analytics Market- By End-User
8.1 Chemical
8.2 Aerospace
8.3 Automotive
8.4 Building Construction
8.5 Others
9. Global Manufacturing Predictive Analytics Market – By Geography
9.1. Introduction
9.2. North America
9.2.1. USA
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1 Brazil
9.3.2 Argentina
9.3.3 Rest of South America
9.4. Europe
9.4.1. U.K.
9.4.2. Germany
9.4.3. France
9.4.4. Italy
9.4.5. Spain
9.4.6. Rest of Europe
9.5. APAC
9.5.1. China
9.5.2. India
9.5.3. Japan
9.5.4. South Korea
9.5.5. Australia & New Zealand
9.5.6. Rest of APAC
9.6. Middle East & Africa
9.6.1. The Middle East
9.6.2. Africa
10. Company Profiles
10.1 International Business Machines Corporation
10.2 Tableau Software
10.3 Oracle Corporation
10.4 SAP SE
10.5 Zensar Technologies Ltd.
10.6 SAS Institute, Inc.
10.7 Computer Science Corporation (CSC)
10.8 Tibco Software, Inc.
10.9 Statsoft, Inc.
10.10 Alteryx, Inc.
10.11 1010data, Inc.
10.12 IBM
10.13 Microsoft
10.14 Cambridge Analytica
10.15 Civis Analytics
11. Global Manufacturing Predictive Analytics Market – Competitive Landscape
11.1 Market Share Analysis
11.2 Strategies Adopted by top companies
11.3 Mergers, Acquisitions, Collaborations & Agreements
12. Market Insights
12.1 Insights of Industry Experts
12.2 Investment Opportunities
12.3 Analyst Opinion
13. Appendix
13.1 List of Tables
13.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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