Industrial Analytics Market Scope
Industrial Analytics is a process in which industrial IoTís components such as device, sensors technologies and others are analyzed in proper way. Industrial analytics utilizes data about various systems such as materials, production efficiency, customer feedback and many IoT based operations across industries. With emergence of industry 4.0, there is a growing focus on increasing the production. Industry analytics helps stakeholders in better decision making and thereby reduction of wastage is minimized.
According to AMA, the Global Industrial Analytics market is expected to see growth rate of 17.3% and may see market size of USD38.9 Billion by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Industrial Analytics market throughout the predicted period.
General Electric (United States), IBM (United States), Microsoft (United States), Oracle (United States), PTC (United States), SAS Institute (United States), SAP (Germany), Cisco (United States), HPE (United States), Intel (United States) and Hitachi (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are TIBCO (United States), AGT International (Switzerland), BRIDGEi2i (India) and Alteryx(United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Industrial Analytics market by Type (Predictive, Prescriptive, Descriptive and Diagnostic) and Region with country level break-up.
On the basis of geography, the market of Industrial Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
- Growing Automation Across Industries Owing to Growing Focus on Increasing Manufacturing
- Advent of Industry 4.0 and Growing Focus on Exploiting Its Advantages
- Adoption of Advanced Data Analytics Techniques for Better Decision Making
- Smart data-driven organization
- Focus on Cost reduction Through Utilization of Latest Technologies
- Lack of Integration with Organization Culture
- Complexity Involved in Integration of Different Services
- Lack of Expertise in Its Development
- Maintaining Data Quality and Ensuring Security
Key Target AudienceIndustrial Analytics Service Providers, Components Suppliers/Distributors, Government Agencies, potential Investors, Market and Research Firms and Others