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Manufacturing Analytics is the Act of Extracting Significant Data from the Manufacturer’s Present as well as Historic Data Sets
Manufacturing analytics is the act of extracting significant data from the manufacturer’s present as well as historic data sets. The practice determines the trends of data and predicts the future results, and patterns. The primary objective of implementing manufacturing analytics technique by organizations around the globe is to get insights from the past and present manufacturing data to anticipate the future of manufacturing related issues. Companies require core competency in analytics, infrastructure, and visualization to settle on information driven strategic decisions.
This business sector includes an expansive number of vendors providing software and services, for example, SAS Institute (U.S.), Tableau Software (U.S.), Tibco Software (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Computer Science Corporation (U.S.), Dell Statsoft (U.S.), SAP SE (Germany), Zensar Technologies Ltd. (India), 1010Data (U.S.), and Alteryx (U.S.). Players in this business sector have embraced different strategies to extend their worldwide presence and expand their market share. New product launches, collaborations, and partnerships were the key strategies adopted by industry players to accomplish development in the market. Apart from these agreements, mergers & acquisitions, joint ventures, and expansions are some of the other significant strategies embraced by the market players the manufacturing analytics market.
IBM Corporation is one of the eminent leaders in the manufacturing analytics market. The organization has a noteworthy presence across more than 175 countries, and primarily serves the regions of the Americas, Europe, APAC, and the MEA. IBM’s long term strategy lean more towards inorganic growth strategy where they hope to include more mergers & acquisitions and partnership & agreement. Acquisition of Star Analytics group and partnership with Wi-NEXT clarifies it all that IBM will be further putting resources into its inorganic growth strategy for cementing their market leader position in analytics.
The fundamental objective of SAS Institute is to meet every industry client requirement and in addition provide new advancements in analytics. The organization serves clients across different industries, for example, manufacturing, retail, BFSI, government, healthcare, technology, media and telecom, and others. The company has a worldwide presence over the Americas, Asia, Europe, Australia, and the MEA. SAS is considered as one of the strongest suppliers in business intelligence and analytics solutions. The organization follows both organic as well as inorganic way to deal with expansion of its market share. With new product launches of SAS Analytics and SAS Factory Miner, the organization is expanding its client base into manufacturing vertical worldwide.
The global manufacturing analytics market is expected to grow from USD 3.14 Billion in 2016 to USD 8.45 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 21.9%.
Manufacturing Analytics Market by Type (Solution & Services), Applications (Asset Management, Inventory Management, Emergency Management, Supply Chain Planning, Sales & Marketing Management, & Others), Industry Vertical, Regions - Global Forecast to 2021
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