Manufacturing Analytics Market Synopsis

Manufacturing Analytics Market Size Was Valued at USD 12.80 Billion in 2023, and is Projected to Reach USD 70.14 Billion by 2032, Growing at a CAGR of  20.80% From 2024-2032.

Manufacturing analytics has to do with the application of complex data analytical tools and structures on the manufacturing processes in an effort to cut costs, increase production and make better decisions. It involves collecting, processing and communicating information across workforce planning, supply chain, manufacturing tools and instruments, and quality assurance. These are, for example, reduction of downtimes due to predictive maintenance, ensuring the quality and quality consistency thanks to real-time monitoring, saving of stocks due to the optimalisation of inventories, and, generally, the optimisation of entire processes. Manufacturing executives can choose from a comprehensive portfolio of hardware and application software across IoT sensors, machine learning algorithms, and big data analytics gear to meet the requirement of their manufacturing processes across respective sectors of operation.

• The manufacturing analytics market has significant potential for expansion as businesses turn to the use of new innovations to optimize productivity and millions of manufacturing companies’ revenue growth. These include, IoT (Internet of Things), AI (Artificial Intelligence), and machine learning that facilitates real-time data aggregation, analysis and consequent action. These technologies provide capabilities to manufacturers enabling them to control productive processes, minimize wastes, produce better products, and manage their supply chain more efficiently.
• Factors driving market include the need for organisations to enhance operational efficiency due to increasing competition across the globe, increasing pressure on compliance laws, and the need for preventive rather than corrective maintenance. This need for better insight and control of production processes across the manufacturing organization is driving manufacturers to seek out and implement analytics solutions on the shop floor as well as in the supply chain function.
• Regionally, North America and Europe dominate the market today mainly because of their early adoption of analytical manufacturing techniques and their heavy funding on smart manufacturing projects. On the other hand, Asia Pacific has the potential to growth rapidly for its industry segment from the increasing rate of industrialization coupled with automation and governments encouraging manufacturers to adopt the digital shift.
• However, such development path is not without its challenges which include data privacy, compatibility problems between multiple systems, and the inherent difficulties of implementing analytics solutions in enterprise structures. These challenges can only be met through the reinforcement of solid cyberspace security measures, proper integrating models, and efficient big data analytics solutions that can work on a variety of sizes and types of structures.
• The future of the manufacturing analytics market will rigid with the advances of cloud computing, edge analytics, and prescriptive analytics that have AI at their core. These innovations will enable manufacturers to deliver greater operational value, increase product differentiation, and fulfill customers’ expectations in a growing global environment.

Manufacturing Analytics Market Trend Analysis

Predictive Maintenance Revolutionizing Manufacturing

• Predictive analytics has transformed manufacturing through non-reactive approaches towards maintenance. In the past, manufacturers followed preventive strategies of maintenance scheduling or-responsive in reaction to equipment breakdown, which caused many hours and ultimately costly down times for the manufacturer. This evaded approach is replaced by predictive analytics since the firm monitors the performance of the equipment through sensors and the IoT devices. These devices record data on parameters such as temperature, vibration, and power consumption that is analyzed with state-of-art algorithms. Even minor alterations or trends in data can be identified through predictive models, and then anticipate equipment failures.
• The above-discussed approach of maintenance, called predictive maintenance has the following benefits. First, this helps the manufacturers to keep high levels of equipment availability since they address problems before they become failures. This not only minimize emergency repairs cost but also enhance the overall equipment efficiency index (OEE). Secondly, predictive maintenance enhances the durability of assets by ensuring that any manufacturing machinery is running at the most appropriate capacity to enhance it’s useful life hence enhancing ROI. Further, fixed schedules for maintenance activities lead to engagement in absurd undertakings, hence mitigating the appliances of useful maintenance resources and controlling operating cost, with superior production efficacy being achieved. Further development of predictive analytics due to the progress in AI and machine learning will make it possible to define broader potential in manufacturing, which will result in the development of more accurate and timely maintenance strategies leading to further increase in productivity that will strengthen the competitiveness manufacturing in the global economy.

Integration of IoT Devices and Sensors in Manufacturing

• One of the critical evolutions in manufacturing processes is the installation of IoT devices and sensors on the plant floor. These gadgets are needed to obtain current information regarding a number of matters of interest to production, for example, machine efficiency, quality of the final product, and the physical conditions under which the production takes place. Some of the production line and machine equipment have probes attached to monitor parameters such as humidity, pressure, temperature, and energy use. IoT devices also gather other product characteristics such as weight, size and chemical components all at once. This stream of data can provide great details about the operations of a manufacturer, more so when seen from a micro perspective.
• The heavy riches can be put to helpful utilization by manufacturers utilizing complex, modern-day inflexible analyses to ascertain fresh knowledge on actual scenes. On that account, using machine learning algorithms and statistical models, manufacturers are likely to discover patterns, trends, and correlations in data obtained through IoT that can be unrecognizable under more traditional approaches. For instance, it is easy to discover variations in quality of certain products or deviations from normalcy in the behavior of some machines and engineers can rectify defective merchandise and enhance conformity in others. Additionally, alterations of the production processes may be easily performed in the shortest time possible by the decision makers since real-time data analysis is employed in this method which increases the utilization of the available resources.
• Further, the knowledge obtained is not restricted to more efficient working, but extends to strategic planning using IoT from a business analytics perspective. TE: Predictive analytics can be useful to manufacturers to fine tune inventory levels, supply chain efficiency and demand forecasting. Since it focuses on making use of large scale information this strategy fosters flexibility and strategic position in the evolving market condition apart from enhancing general organizational efficiency and quality assurance. Manufacturing is an area that has seen and can see even more significant improvements because of IoT integration as technology adoption and innovation in this area go forward.

Manufacturing Analytics Market Segment Analysis:

Manufacturing Analytics Market is segmented based on Deployment, Appllication , End-user Industry.

By End-user Industry, Electronics segment is expected to dominate the market during the forecast period

• The electronics industry remains one of the foremost end-use segments for electronic displays and the growth has been exponential due to the customer’s insatiable desire for advanced display systems. In the section of consumer electronics, there are Smartphone, tablets and wearable products are some of the key categories that fuels this industry. Customers demand products that possess higher pixels per inch as more and more manufactures offer screens that deliver clearer images and enhanced customer experiences through video streaming, gaming or other forms of content consumption. In addition, flexible screen technologies have become a game changer when it comes to integrating foldable smartphones and curved displays that are useful and beautiful.
• Apart from consumer electronics, the electronics industry uses electronic displays in various applications across a continuum. For example in digital signage and digital advertising electronic display plays a special part in impressing consumer attention and communicating dynamic messages. To a greater extent, electronics display is used more industrially for control panels and monitoring systems where displays need to be equally efficient, reliable and precise for operation and data reading. This is evidenced by the trend, where constantly evolving and improving technology of electronic display continues to position the electronics industry as pioneers in the quest for superior display technologies across the world.

By Appllication, Inventory Management  segment held the largest share in 2023

• Display systems have greatly transformed inventory practices in sectors such as retail and manufacturing through provision of a real time control of the inventories. These displays help businesses to monitor product flow from receiving to the dispatch of goods within business; this limits situations where businesses run out of stock or on the other extreme, are left with too much stock they cannot sell. Information updating done through electronic displays means that timely decisions can be made such as restocking based on usage trends or changing the distribution routes in order to minimize the time taken. From the analysis, it is clear that an improved inventory visibility is vital in bringing down the carrying cost hence lead to cutting down the overall cost of supply chain.
• In addition, it acts a major role for the improvement of the identification for the inventories, stocks and for establishing environment for the efficient warehousing and distribution channels. For example, in manufacturing, such displays are incorporated into the manufacturing systems for handling inventory, thus enabling reinvented just-in-time manufacturing and minimizing wastage. It is important to note that in the merchandising environment, the use of electronic displays goes beyond inventory management, but it also for electronic signs and advertising and marketing programs that improve customer interaction and purchasing. The portability, as well as versatility of the electronic display solutions moreover speak set for their usage across a broad range of operational settings, as underlined for the dominance of the electronic displays within the inventory management sub-segment of the relevant market. With companies focusing on increasing supply chain economies to the greatest extent possible, the application of such electronic display, particularly those Smart Display solutions specifically designed for inventory related applications will become more popular and consolidate their position as essential components of the modern industrial process.

Manufacturing Analytics Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• The market leadership of North America can be attributed to its advance acceptance of Industry 4.0 technologies in manufacturing analytics.. The United States as pertains the broader manufacturing structure has been one of the frontrunners in the deployment of advanced analytics solutions. This adoption has been urged by the increasing international competition that has lead to demands for operational improvements and lower prices. Thus, taking full advantage of data analytics, many U.S. manufacturers can fine-tune the production process, estimate when equipment might fail, or when products will need to be restocked, which will ultimately increase productivity and profit.• Continuation is a result of technology industries and industrial goliaths in North America, which reinforces the region as the leading area in manufacturing analytics.s, as a key player, has been at the forefront of integrating advanced analytics solutions across its manufacturing landscape. This adoption is driven by the pressing need to enhance operational efficiency and reduce costs amid global competition. By leveraging data analytics, U.S. manufacturers can optimize production processes, predict maintenance needs, and streamline supply chains, thereby improving overall productivity and profitability
• The strong presence of major technology firms and industrial giants in North America further bolsters the region's dominance in manufacturing analytics. It seems that these companies are committing a significant amount of resources to research & development specifically in technologies that would advance the use of machine learning, artificial intelligence and IoT into the manufacturing process. Not only do such investments maintain the technological pre-eminence of the region but also encourage scale and diffusion of analytics insight from manufacturing upstream and downstream. By further enhancing their analytics approaches, North American manufacturers’ companies will keep on influencing the further development of smart manufacturing not only in North America but all around the world as well.

Active Key Players in the Manufacturing Analytics Market

• IBM
• Microsoft
• Oracle
• RapidMiner
• SAP
• Alteryx
• Bridgei2i Analytics Solutions
• Cisco Systems
• FICO
• TIBCO Software
• SensrTrx
• Sight Machine
• Sisense
• Neubrain
• Rockwell Automation
• Aegis Software
• MachineMetrics
• Lantek
• Domo
• Other Key Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Manufacturing Analytics Market by Deployment
 4.1 Manufacturing Analytics Market Snapshot and Growth Engine
 4.2 Manufacturing Analytics Market Overview
 4.3 Cloud-based
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Cloud-based: Geographic Segmentation Analysis
 4.4 On-premise
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 On-premise: Geographic Segmentation Analysis

Chapter 5: Manufacturing Analytics Market by Application
 5.1 Manufacturing Analytics Market Snapshot and Growth Engine
 5.2 Manufacturing Analytics Market Overview
 5.3 Inventory Management
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Inventory Management: Geographic Segmentation Analysis
 5.4 Supply Chain Optimization
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Supply Chain Optimization: Geographic Segmentation Analysis
 5.5 Predictive Maintenance
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Predictive Maintenance: Geographic Segmentation Analysis
 5.6 Other Applications
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Other Applications: Geographic Segmentation Analysis

Chapter 6: Manufacturing Analytics Market by End-user Industry
 6.1 Manufacturing Analytics Market Snapshot and Growth Engine
 6.2 Manufacturing Analytics Market Overview
 6.3 Electronics
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Electronics: Geographic Segmentation Analysis
 6.4 Oil & Gas
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Oil & Gas: Geographic Segmentation Analysis
 6.5 Automotive
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Automotive: Geographic Segmentation Analysis
 6.6 Pharmaceutical
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Pharmaceutical: Geographic Segmentation Analysis
 6.7 Food & Beverage
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Food & Beverage: Geographic Segmentation Analysis
 6.8 Other End-user Industries
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Other End-user Industries: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Manufacturing Analytics Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 IBM
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 MICROSOFT
 7.4 ORACLE
 7.5 RAPIDMINER
 7.6 SAP
 7.7 ALTERYX
 7.8 BRIDGEI ANALYTICS SOLUTIONS
 7.9 CISCO SYSTEMS
 7.10 FICO
 7.11 TIBCO SOFTWARE
 7.12 SENSRTRX
 7.13 SIGHT MACHINE
 7.14 SISENSE
 7.15 NEUBRAIN
 7.16 ROCKWELL AUTOMATION
 7.17 AEGIS SOFTWARE
 7.18 MACHINEMETRICS
 7.19 LANTEK
 7.20 DOMO
 7.21 OTHER ACTIVE PLAYERS

Chapter 8: Global Manufacturing Analytics Market By Region
 8.1 Overview
 8.2. North America Manufacturing Analytics Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Deployment
   8.2.4.1 Cloud-based
   8.2.4.2 On-premise
  8.2.5 Historic and Forecasted Market Size By Application
   8.2.5.1 Inventory Management
   8.2.5.2 Supply Chain Optimization
   8.2.5.3 Predictive Maintenance
   8.2.5.4 Other Applications
  8.2.6 Historic and Forecasted Market Size By End-user Industry
   8.2.6.1 Electronics
   8.2.6.2 Oil & Gas
   8.2.6.3 Automotive
   8.2.6.4 Pharmaceutical
   8.2.6.5 Food & Beverage
   8.2.6.6 Other End-user Industries
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Manufacturing Analytics Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Deployment
   8.3.4.1 Cloud-based
   8.3.4.2 On-premise
  8.3.5 Historic and Forecasted Market Size By Application
   8.3.5.1 Inventory Management
   8.3.5.2 Supply Chain Optimization
   8.3.5.3 Predictive Maintenance
   8.3.5.4 Other Applications
  8.3.6 Historic and Forecasted Market Size By End-user Industry
   8.3.6.1 Electronics
   8.3.6.2 Oil & Gas
   8.3.6.3 Automotive
   8.3.6.4 Pharmaceutical
   8.3.6.5 Food & Beverage
   8.3.6.6 Other End-user Industries
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Manufacturing Analytics Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Deployment
   8.4.4.1 Cloud-based
   8.4.4.2 On-premise
  8.4.5 Historic and Forecasted Market Size By Application
   8.4.5.1 Inventory Management
   8.4.5.2 Supply Chain Optimization
   8.4.5.3 Predictive Maintenance
   8.4.5.4 Other Applications
  8.4.6 Historic and Forecasted Market Size By End-user Industry
   8.4.6.1 Electronics
   8.4.6.2 Oil & Gas
   8.4.6.3 Automotive
   8.4.6.4 Pharmaceutical
   8.4.6.5 Food & Beverage
   8.4.6.6 Other End-user Industries
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Manufacturing Analytics Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Deployment
   8.5.4.1 Cloud-based
   8.5.4.2 On-premise
  8.5.5 Historic and Forecasted Market Size By Application
   8.5.5.1 Inventory Management
   8.5.5.2 Supply Chain Optimization
   8.5.5.3 Predictive Maintenance
   8.5.5.4 Other Applications
  8.5.6 Historic and Forecasted Market Size By End-user Industry
   8.5.6.1 Electronics
   8.5.6.2 Oil & Gas
   8.5.6.3 Automotive
   8.5.6.4 Pharmaceutical
   8.5.6.5 Food & Beverage
   8.5.6.6 Other End-user Industries
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Manufacturing Analytics Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Deployment
   8.6.4.1 Cloud-based
   8.6.4.2 On-premise
  8.6.5 Historic and Forecasted Market Size By Application
   8.6.5.1 Inventory Management
   8.6.5.2 Supply Chain Optimization
   8.6.5.3 Predictive Maintenance
   8.6.5.4 Other Applications
  8.6.6 Historic and Forecasted Market Size By End-user Industry
   8.6.6.1 Electronics
   8.6.6.2 Oil & Gas
   8.6.6.3 Automotive
   8.6.6.4 Pharmaceutical
   8.6.6.5 Food & Beverage
   8.6.6.6 Other End-user Industries
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Manufacturing Analytics Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Deployment
   8.7.4.1 Cloud-based
   8.7.4.2 On-premise
  8.7.5 Historic and Forecasted Market Size By Application
   8.7.5.1 Inventory Management
   8.7.5.2 Supply Chain Optimization
   8.7.5.3 Predictive Maintenance
   8.7.5.4 Other Applications
  8.7.6 Historic and Forecasted Market Size By End-user Industry
   8.7.6.1 Electronics
   8.7.6.2 Oil & Gas
   8.7.6.3 Automotive
   8.7.6.4 Pharmaceutical
   8.7.6.5 Food & Beverage
   8.7.6.6 Other End-user Industries
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research