The global manufacturing analytics market is expected to witness a significant growth rate at a CAGR of 22% during the forecast period. A statistical tool that performs rule-based analysis to improve business processes and product quality is known as manufacturing analytics. Data analytics is used in various other industrial domains which include insurance (BFSI), e-commerce, banking, and financial services. Though, increasing pressures to meet federal norms, supply-chain requirements, and global competition, demand for low manufacturing cost, and improve operating income have seen a high adoption of data analytics in the manufacturing industry market sector.
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Moreover, process improvement programs which include data acquisition system (SCADA), Lean Manufacturing, supervisory control and, and Six Sigma have improved the adoption of manufacturing analytics. Furthermore, with huge data being generated from the network industry equipment and automation systems, industry has resulted in a strong demand for analytics in the manufacturing sector. Complex operation and low return on investment from manufacturing analytics tools are acting as a roadblock in its manufacturing analytics market growth. Additionally, technical constraints related to cloud deployments such as data security and privacy are likely to curb the growth of the global market.
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Global Manufacturing Analytics Market Segmentation
Predictive Maintenance and Asset Management
Supply Chain Planning and Procurement
Other (Energy Management and Emergency Management)
By Deployment Model
Food and Beverages
Aerospace and Defense
Chemicals and Materials
Machinery and Industrial Equipment
Rest of Europe
Rest of Asia-Pacific
Rest of the World
Dassault Systèmes SE
DXC Technology Co.
General Electric Co.
Northwest Analytics, Inc.
QlikTech International AB
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