Global Manufacturing Analytics Market to Reach $28.44 Billion by 2026: Allied Market Research

Increase in investments in big data for manufacturing, rise in industrial IoT (IIoT) adoption, and surge in need for process optimization fuel the growth of the global manufacturing analytics market. The software segment held the highest market share in 2018 and would lead throughout the forecast period. Based on region, North America dominated the market in 2018 and would lead the trail by 2027.


Portland, OR, March 24, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global manufacturing analytics market generated $5.95 billion in 2018, and is estimated to reach $28.44 billion by 2026, registering a CAGR of 16.5% from 2019 to 2026. The research offers a detailed analysis of changing market dynamics, key winning strategies, major segments, top investment pockets, players’ positioning, and competitive scenario.

Increase in investments in big data for manufacturing, rise in industrial IoT (IIoT) adoption, and surge in need for process optimization fuel the growth of the global manufacturing analytics market. On the other hand, lack of skilled professionals and scarcity of integration with legacy systems impede the market growth to certain extent. Nevertheless, usage of advanced technologies such as AR and VR is anticipated to usher a plethora of opportunities in the near future.  

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Covid-19 Scenario-

  • The manufacturing analytics has played significant role in assisting the manufacturers to with remote monitoring solutions.
  • In addition, manufacturing analytics has aided the manufacturers to overcome challenges such as reduced workforce, social distancing, declined sales, and pressure to decrease operational costs.
  • Moreover, the market has witnessed increase in demand for manufacturing during covid-19.

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The global manufacturing analytics market is segmented into component, deployment, application, industry vertical, and region. Based on component, the market is bifurcated into software and service. The software segment held the highest market share in 2018, contributing to more than four-fifths of the global manufacturing analytics market. On the other hand, the service segment is expected to register the fastest CAGR of 19.3% from 2019 to 2026.

Based on application, the market is divided into predictive maintenance, inventory management, supply chain optimization, and others. The supply chain optimization segment contributed to the highest market share in 2018, contributing nearly half of the global manufacturing analytics market, and is estimated to maintain its highest share in terms of revenue by 2026. At the same time, the predictive maintenance segment is expected to grow at the fastest CAGR of 21.4% during the forecast period.

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Based on region, North America held the major market share, contributing to nearly two-fifths of the total share of the global manufacturing analytics market in 2018, and is expected to maintain its dominant position during the forecast period. On the other hand, the Asia-Pacific region is estimated to grow at a CAGR of 19.6% from 2019 to 2026.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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