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Global Industrial Analytics Market Overview
The Global Industrial Analytics Market size is estimated to reach $ 35.8 billion by 2026, growing at a CAGR of 17.87% over the forecast period of 2021-2026. Industrial Analytics (IA) is a term that refers to the gathering, analysis, and use of data created in industrial processes and throughout the product lifecycle for any organization that manufactures and sells physical goods. It entails the use of standard data collection and statistical modeling techniques. Industry 4.0 is revolutionizing the manufacturing industry by leaps and bounds, allowing for a global move toward a future manufacturing sector. With the introduction of Industry 4.0 in the manufacturing industry, numerous facilities are implementing digital technologies such as IIoT, AI, ML, Robotics, and others to improve, automate, and modernize the entire process.
Impact of COVID-19 on the Industrial Analytics Market:
The COVID-19 epidemic is still threatening the whole planet. However, many states, countries, and regions are preparing to remove lockdowns and restore companies, and the path forward necessitates various technological approaches. Industrial analytics and Internet of Things (IoT) devices, in particular, hold much promise for assisting businesses in navigating this new normal.
Key Takeaways from Global Industrial Analytics Market Report:
By Components, the service segment is expected to expand at the fastest rate in terms of CAGR during the forecast period.
By components, the service segment is supposed to grow at the fastest pace as much focus is on technological innovations. Also, the software segment is expected to dominate in terms of CAGR in this duration as it already has existing technical capabilities in industrial analytics.
The Asia Pacific to account for the largest market share during the forecast period
North America had the most significant market share of roughly 35.0% in 2020. The region's industrial automation operations are being driven by a rise in the implementation of Industry 4.0 policies. Companies in North America are concentrating on cost-cutting through automation.
The Asia Pacific is the actively growing region in Industrial Analytics Market. Growth is due to the increasing number of technological advancements in China and India in industrial automation.
Market Dynamics
Driver: The increase in IoT adoption is driving the Industrial Analytics Market.
The increase of the Internet of Things (IoT) is a primary driver of the industrial analytics industry. The market demand will likely be driven by advancements in data mining, warehousing, increased usage of real-time applications, and rising acceptance of big data analytics in corporate processes.
Challenge: Complex analytical processes are restraining the market growth.
The processes involved in analytics in the industrial sector are highly complex, requiring skilled professionals for sophisticated work. However, finding experts in the same field isn't easy as it is a new emerging market. This is a restraining factor in the Industrial Analytics Market.
Key Market Players
Key Players in the Global Industrial Analytics Market consist of Intel, Cisco Systems, IBM, General Electric, Amazon.com, Oracle Corporation, Hewlett-Packard, Microsoft Corporation, Genpact, etc.
Developments
According to the company, in June 2020, IBM Watson Discovery underwent several adjustments and enhancements. Users on the Watson Discovery Premium subscription get a redesigned user interface, a guided experience to help them get started with Watson Discovery for their unique use case, and a slew of additional new features, including content mining.
Report Coverage and Scope
The report "Global Industrial Analytics Market" by Research Informatic covers an in-depth detailed analysis for the following segment covered under the scope.
By Component
By Deployment Mode
By Vertical
By Type
By Geography
Global Industrial Analytics Market Growth, Trend and Forecast 2022-2028
Chapter 1 Industrial Analytics Market Overview
1.1 Product Overview and Scope of Industrial Analytics
1.2 Industrial Analytics Market Segmentation by Component
1.2.1 Software
1.2.2 Services
1.3 Industrial Analytics Market Segmentation by Deployment Mode
1.3.1 Cloud
1.3.2 On-Premises
1.4 Industrial Analytics Market Segmentation by Vertical
1.4.1 Construction
1.4.2 Manufacturing
1.4.3 Education
1.4.4 Mining
1.4.5 Transportation
1.5 Industrial Analytics Market Segmentation by Type
1.5.1 Predictive Analytics
1.5.2 Prescriptive Analytics
1.5.3 Descriptive Analytics
1.6 Industrial Analytics Market Segmentation by Regions
1.6.1 North America
1.6.2 China
1.6.3 Europe
1.6.4 Southeast Asia
1.6.5 Japan
1.6.6 India
1.6.7 Global Market Size (Value) of Industrial Analytics (2015-2028)
Chapter 2 Global Economic Impact on Industrial Analytics Industry
2.1 Global Macroeconomic Environment Analysis
2.1.1 Global Macroeconomic Analysis
2.1.2 Global Macroeconomic Environment Development Trend
2.2 Global Macroeconomic Environment Analysis by Regions
Chapter 3 Global Industrial Analytics Market Competition by Manufacturers
3.1 Global Industrial Analytics Production and Share by Manufacturers (2021 and 2022)
3.2 Global Industrial Analytics Revenue and Share by Manufacturers (2021 and 2022)
3.3 Global Industrial Analytics Average Price by Manufacturers (2021 and 2022)
3.4 Manufacturers Industrial Analytics Manufacturing Base Distribution, Production Area and Product Type
3.5 Industrial Analytics Market Competitive Situation and Trends
3.5.1 Industrial Analytics Market Concentration Rate
3.5.2 Industrial Analytics Market Share of Top 3 and Top 5 Manufacturers
3.5.3 Mergers & Acquisitions, Expansion
Chapter 4 Global Industrial Analytics Production, Revenue (Value) by Region (2015-2022)
4.1 Global Industrial Analytics Production by Region (2015-2022)
4.2 Global Industrial Analytics Production Market Share by Region (2015-2022)
4.3 Global Industrial Analytics Revenue (Value) and Market Share by Region (2015-2022)
4.4 Global Industrial Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.5 North America Industrial Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.6 Europe Industrial Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.7 China Industrial Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.8 Japan Industrial Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.9 Southeast Asia Industrial Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.10 India Industrial Analytics Production, Revenue, Price and Gross Margin (2015-2022)
Chapter 5 Global Industrial Analytics Supply (Production), Consumption, Export, Import by Regions (2015-2022)
5.1 Global Industrial Analytics Consumption by Regions (2015-2022)
5.2 North America Industrial Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.3 Europe Industrial Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.4 China Industrial Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.5 Japan Industrial Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.6 Southeast Asia Industrial Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.7 India Industrial Analytics Production, Consumption, Export, Import by Regions (2015-2022)
Chapter 6 Global Industrial Analytics Production, Revenue (Value), Price Trend by Type
6.1 Global Industrial Analytics Production and Market Share by Type (2015-2022)
6.2 Global Industrial Analytics Revenue and Market Share by Type (2015-2022)
6.3 Global Industrial Analytics Price by Type (2015-2022)
6.4 Global Industrial Analytics Production Growth by Type (2015-2022)
Chapter 7 Global Industrial Analytics Market Analysis by Application
7.1 Global Industrial Analytics Consumption and Market Share by Application (2015-2022)
7.2 Global Industrial Analytics Consumption Growth Rate by Application (2015-2022)
7.3 Market Drivers and Opportunities
7.3.1 Potential Applications
7.3.2 Emerging Markets/Countries
Chapter 8 Industrial Analytics Manufacturing Cost Analysis
8.1 Industrial Analytics Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Price Trend of Key Raw Materials
8.1.3 Key Suppliers of Raw Materials
8.1.4 Market Concentration Rate of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.3 Manufacturing Process Analysis of Industrial Analytics
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
9.1 Industrial Analytics Industrial Chain Analysis
9.2 Upstream Raw Materials Sourcing
9.3 Raw Materials Sources of Industrial Analytics Major Manufacturers in 2022
9.4 Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
10.1 Marketing Channel
10.1.1 Direct Marketing
10.1.2 Indirect Marketing
10.1.3 Marketing Channel Development Trend
10.2 Market Positioning
10.2.1 Pricing Strategy
10.2.2 Brand Strategy
10.2.3 Target Client
10.3 Distributors/Traders List
Chapter 11 Market Effect Factors Analysis
11.1 Technology Progress/Risk
11.1.1 Substitutes Threat
11.1.2 Technology Progress in Related Industry
11.2 Consumer Needs/Customer Preference Change
11.3 Economic/Political Environmental Change
Chapter 12 Global Industrial Analytics Market Forecast (2022-2028)
12.1 Global Industrial Analytics Production, Revenue Forecast (2022-2028)
12.2 Global Industrial Analytics Production, Consumption Forecast by Regions (2022-2028)
12.3 Global Industrial Analytics Production Forecast by Type (2022-2028)
12.4 Global Industrial Analytics Consumption Forecast by Application (2022-2028)
12.5 Industrial Analytics Price Forecast (2022-2028)
Chapter 13 Appendix
Published On:May 2022
Base Year:2021
Historical Data:2018 - 2020
No of Pages:250
Industrial Analytics Market Size, Share & Trends A...
RD Code : IT22