Global Industrial analytics Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Industrial analytics defines business function completed by business owners and other individuals to assess the current business environment. The functions involved in industrial analytics are a review of the economic and political underpinnings of the business environment.
Global Industrial Analytics Market Segments Size & Growth:
Global industrial analytics market is accounted for $11.35 billion in 2017 and estimated to grow at a CAGR of 17.85% during the forecast period of 2019-2025 to reach $42.23 billion by 2025. The major factors propelling the growth of industrial analytics market are emerging advanced analytics techniques, development of IIoT, increasing quality of the product, growth in emerging companies, enhancing customer satisfaction and the beginning of the fourth industrial revolution, industry 4.0. However, a breakdown in organisation culture, the involvement of a complex analytical process, high cost for initial setup, lack of skilled expertise and maintaining conventional data quality are the factors that would restrain the growth of the market. Advancements in connected devices, developing analysing techniques, cost reduction and smart data driven organisation are expected to boost demand for industrial analytics market.
Global Industrial Analytics Market Segments Share:
Regarding component, customer analytics from software segment is estimated to increase demand in coming years owing to the rising need of customer experience, ad campaign effectiveness among verticals and RoI. Based on deployment
Global Industrial analytics Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
mode, industrial analytics market is classified into the cloud, and on premises. By organisation size industrial analytics market is segmented into small and medium sized enterprises, large enterprises. From the segment of analytics type, descriptive analytics type is expected to grow over the forecast period owing to increasing adoption of digital technologies and improving efficiencies by gaining insights. Based on tools, business intelligence tools are estimated to grow extremely important from a manufacturing perspective. In the end user segment, energy and utilities are anticipated to grow significantly in the forecasted period due to the increased demand for real time data.
By Geography, North America accounted for the major share in the global industrial analytics market as the region is having a large presence of analytics organisations, progressive innovation and rising investments in R&D. The Asia Pacific is expected to witness tremendous growth over the forecast period based on factors includes implementation of motivated polices by the government, rapid development in digitalisation and emerging major players in the IT sector.
Global Industrial Analytics Market Segments Trends:
- In April 2018, Oracle Corporation in AI announced a series of innovations regarding reaching expectations of today’s empowered customers through their latest experience of Oracle customer experience (CX).
- In April 2018, IBM Corporation collaborated with primary
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Global Industrial analytics Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
level startups to enhance quantum computing, and this membership on startups allows to run experiments, algorithms via cloud based access.
Global Industrial Analytics Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.
Expertise investment opportunities by an analyst to the individual and organization to have a better foothold in the market.
The major key industrial analytics market leaders are:
- SAP SE
- Oracle Corporation
- Cisco Systems, Inc.
- Microsoft Corporation
- Intel Corporation
Along with these companies, there were many other companies considered/cited in the report while analyzing the global industrial analytics market size. These companies hold substantial share is owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
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