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The Global Industrial Analytics Market was valued at USD 9.63 billion in 2016 and is projected to reach USD 42.3 billion by 2025, growing at a CAGR of 17.89% from 2017 to 2025.
Industrial Analytics is the collection, analysis and usage of data generated in industrial operations and throughout the entire product lifecycle, applicable to any company that is manufacturing and selling physical products. It involves traditional methods of data capture and statistical modeling. With an industrial analytics solution, organizations can gain insights into their assets and processes, have high level of performance monitoring to the most granular investigations, provides safety and efficiency, objective performance prediction, automated monitoring and knowledge retention, and helps in better decision making.
1. Market Drivers
1.1 Rising smart data-driven organizations
1.2 Reduced costs
1.3 Emergence of advanced data analytics techniques
1.4 Introduction of fourth industrial revolution, Industry 4.0
2. Market Restraints
2.1 Lack of technical expertise
2.2 Concerns for data quality and security
2.3 Analytical process complexities
2.4 Poor integration with enterprises
The Global Industrial Analytics Market is segmented on the analytics type, organization size, component, deployment model, vertical, and region.
1. Analytics Type:
2. Organization Size:
2.1 Large Enterprises
2.2 Small and Medium Organizations
3. By Component:
3.2.1 Managed services
3.2.2 Professional services
188.8.131.52 Support and maintenance services
184.108.40.206 Consulting services
4. By Deployment Mode:
5. By Vertical:
5.1 IT and Telecom
5.2 Energy and Utilities
5.3 Transportation and Logistics
5.4 Retail and Consumer Goods
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Hewlett Packard Enterprise
2. SAP SE
3. Microsoft Corporation
4. Hitachi, Ltd.
5. Tibco Software, Inc.
6. PTC, Inc.
7. AGT International GmbH
8. IBM Corporation
9. SAS Institute, Inc
10. General Electric Company
11. Intel Corporation
12. Bridgei2i Analytics Solutions
13. Cisco Systems, Inc.
14. Oracle Corporation
15. Alteryx, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Industrial Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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