Global Industrial Analytics Market is expected to reach US$ 36.44 Bn by 2026 from US$ XX Bn in 2018 at a CAGR of XX%.
The report of global industrial analytics market is segmented into component, analytics type, organization size, deployment mode, industry vertical, and region. In terms of component, the global industrial analytics market is classified into service and software. Based on analytics type, the global industrial analytics market is categorized into descriptive, diagnostic, predictive, and prescriptive. On the basis of organization size, the global industrial analytics market is segregated into large enterprises, small & medium enterprises. Based on deployment mode, the global industrial analytics market is segmented into on-premises, hosted/on-cloud. In terms of industry vertical, the global industrial analytics market is classified into retail and consumer goods, telecommunications and IT, transportation and logistics, manufacturing, energy and utilities, others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The key driving factors for this market include the advent of Industrial Internet of Things (IIoT), market includes the beginning of the fourth industrial revolution – industry 4.0, and the introduction of advanced data analytics techniques. Furthermore, the introduction of advanced data analytics such as big data in the manufacturing process is further anticipated to boost the demand for industrial analytics on the global level. Security concerns in the industrial internet of things (IIoT) data may restrain the industrial analytics market growth on the global level. Most critical and massive IIoT data needs security from hackers, DOS attacks, device breaches and viruses. Cost reduction and the organizations adopting smart data-driven technologies are the major growth opportunity factors in this market.
In terms of vertical, manufacturing vertical is expected to have the largest market size in 2017. The industrial analytics market is also segmented into various industry verticals. Out of them, the adoption of industrial analytics is anticipated to be the highest in the manufacturing vertical.
In terms of region, North America is expected to hold the largest share of the industrial analytics market in 2017, due to technological advancements and early adoption of analytics solutions in the region. The market in Asia Pacific is estimated to grow at the highest CAGR between 2017 and 2022. The primary driving forces for this growth are rising technological adoption and huge opportunities across industry verticals in Asia Pacific countries, especially India, China, and Japan.
Some of the key players in the global industrial analytics market are Hewlett Packard Enterprise Company, General Electric Company, Microsoft Corporation, International Business Machines Corporation, SAP SE, Cisco Systems, Inc., Oracle Corp, Intel Corp., Hitachi Ltd., TIBCO Software, Inc., and among others.
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The scope of the Global Industrial Analytics Market
Global Industrial Analytics Market by Component
Global Industrial Analytics Market by Analytics Type
Global Industrial Analytics Market by Organization Size
• Large Enterprises
• Small & Medium Enterprises
Global Industrial Analytics Market by Deployment Model
Global Industrial Analytics Market by Vertical
• Energy and utilities
• Retail and consumer goods
• Transportation and logistics
• Telecommunications and IT
Global Industrial Analytics Market by Geography
• North America
• Middle East & Africa
• Latin America
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