Published: March 2020 | Report Code: 11877 | Available Format: PDF | Pages: 155
The U.S. manufacturing analytics market generated the revenue of $2.5 billion in 2019 and is expected to reach $14.1 billion by 2030, advancing at a CAGR of 17.6% during the forecast period (2020–2030). Increasing demand for greater operational and organizational visibility through big data as well as growing focus on simplifying supply chain management are the key factors driving the growth of the market across the country.
Factors Governing U.S. Manufacturing Analytics Market
Adoption of digital twins is one of the key trends observed in the U.S. manufacturing analytics market. Manufacturing technologies are evolving continually, thereby creating new opportunity areas that have the potential to improve the current state of the manufacturing industry and enable innovation in products. Digital twins offer such potential to the industry, with a number of U.S. manufacturers gradually gaining interest in adopting this simulation technique, which uses artificial intelligence (AI), machine learning (ML), and internet of things (IoT), for mirroring complex pieces of machinery to predict how they respond in certain scenarios. In addition, these enable manufacturers in attaining robust research and development (R&D) cycles and creating innovative and safe products, along with facilitating better decision making.
Increasing demand for greater operational and organizational visibility through big data is one of the key factors driving the growth of the U.S. manufacturing analytics market. Big data has transformed manufacturing operations, with data collection and real-time insights for analysis gaining special interest among the U.S.-based manufacturers. Manufacturers can slice and dice the data in a manner that allows them to attain a holistic understanding of their business activities. It also allows them to improve production, optimize operations, and address probable issues before the occurrence. Hence, manufacturing organizations are increasingly relying on intelligent analytics tools for improving their business outcomes.
U.S. Manufacturing Analytics Market Segmentation Analysis
The service category under the solution segment is expected to witness faster growth in the U.S. manufacturing analytics market during the forecast period. With the growing adoption of manufacturing analytics solutions, the demand for consulting, implementation, training, and maintenance services is expected to increase, thus driving the market growth in this category.
The cloud deployment category is expected to witness faster growth in the market during the forecast period. This can be due to the enhanced scalability and flexibility offered by cloud-based manufacturing analytics solutions, which can be customized as per business requirements. In addition, cloud-based solutions help reduce operational and infrastructure costs. These factors are, thus, encouraging manufacturers in the country to prefer the cloud-based deployment model.
The asset management category under the application segment held the largest share in the U.S. manufacturing analytics market in 2019. At present, improving performance and safety tops the priority list for industrial plants. Since manufacturing analytics solutions help these companies achieve asset optimization, extend asset life, and identify underperforming assets while facilitating operational efficiency at a lower cost, these are highly demanded for asset management in the U.S., which is further driving the market in this category.
The electronics industry category held the largest share in the U.S. manufacturing analytics market in 2019. The U.S. is one of the largest electronics markets across the world and currently witnessing a strong competition among the players operating within. Thus, electronics manufacturing companies in this industry are increasingly adopting manufacturing analytics solutions to achieve operational efficiency and gain a competitive edge in the market. Using manufacturing analytics, these companies can adapt to the changing business conditions, such as new product designs and product variations.
Market Size by Segments
Solution, Deployment, Application, Industry
Explore more about this report - Request free sample pages
Regional Analysis of U.S. Manufacturing Analytics Market
The South region is expected to hold over 30% share in the U.S. manufacturing analytics market in 2030. This can be primarily attributed to the presence of a large number of manufacturing companies in the region. The availability of abundant land for manufacturing and highly skilled workforce to support operations, complemented by improved infrastructure and pro-business laws, drives the growth of the manufacturing industry in the region.
Competitive Landscape of U.S. Manufacturing Analytics Market
The U.S. manufacturing analytics market is highly competitive in nature, due to the presence of a large number of players. Some of the prominent market players include SAP SE, SAS Institute Inc., Salesforce.com Inc., Oracle Corporation, IBM Corporation, TIBCO Software Inc., Alteryx Inc., Sisense Inc., DXC Technology Company, and General Electric Company.
Recent Strategic Developments of Major U.S. Manufacturing Analytics Market Players
In recent years, major players in the U.S. manufacturing analytics market have taken several strategic measures to ensure their foothold. For instance, in April 2019, Alteryx Inc. announced the acquisition of a U.S.-based provider of data analytics solutions, ClearStory Data Inc. With this acquisition, the company aims to strengthen its presence in the data science and analytics market within the U.S. Additionally, the company would also be able to meet the demand for advanced analytics, thereby supporting customers in digital transformation initiatives.
Furthermore, in April 2018, SAP SE announced the launch of a digital manufacturing solution, SAP Digital Manufacturing Cloud. The solution helps companies to optimize machine performance, maintain production quality and efficiency, and ensure worker safety. The solution can be utilized for execution, insights, predictive quality, and manufacturing network.
Market Size Breakdown by Segment
The U.S. manufacturing analytics market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Solution
Based on Deployment
Based on Application
Based on Industry
Get a bespoke market intelligence solution
Want a report tailored exactly to your business strategy?Request Customization
Want an insight-rich discussion with the report author?Speak to Analyst
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws