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Industrial Analytics Market  - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022

Industrial Analytics Industry: Forecasts to 2022

  • October 2017
  • 170 pages
  • ID: 5207204
In this report:
There is a drastic shift in industrial analytics deployed on various types of projects, where descriptive analytics is expected to fade away and more importance could be given to prescriptive, predictive, and real-time analytics.
However, the Middle East and Africa (MEA) and Japan are expected to struggle with their growth in the coming years.

Summary

Table of Contents

Global Industrial Analytics Market: Summary

The overall industrial analytics market is envisaged to receive bankable business prospects due to growing applications in industrial firms looking to increase their revenue through the creation of additional business models, changing existing ones, or updating current products. There is a drastic shift in industrial analytics deployed on different types of projects, where descriptive analytics is forecast to fade away and more importance could be given to prescriptive, predictive, and real-time analytics. For example, a sharp increase in the application of advanced analytics tools and business intelligence could be witnessed over the importance of spreadsheets in the foreseeable future.

The market research offered herewith is a exhaustive compilation of factors affecting the increase of the global industrial analytics market. Seasoned analysts have authored this publication in the best interest of industry players planning to gain a strong foothold in the sector.

Global Industrial Analytics Market: Dynamics

Industrial analytics plays a critical role in reshaping some vital industrial principles and changing paradigms long held in rather conservative industrial environments. Apart from enabling select additional business cases, industrial analytics has a crucial part in the decision-making process of industrial firms operating today. Different industrial companies have a dedicated organizational unit for data analytics and devise company-wide data analytics strategies for improved business decisions. Industrial analytics could be highly demanded on the lines of three principal applications, i.e. analysis of product usage in fields, marketing or customer-related analytics, and prescriptive and predictive maintenance of machines.

Global Industrial Analytics Market: Segmentation

The worldwide industrial analytics market is foreseen to be broken down as per four categories, viz. component, end user, application, and industry. According to a segmentation by component, the industry could be divided into software, professional services, managed services, and other support services. Amongst these, the software segment is foretold to secure a stronger share in the sector in the upcoming future. In 2017, it recorded a share of 48.00 percent.

In respect of end user, the worldwide industrial analytics market could be segregated into big enterprise and small and medium enterprise. By application, advanced robotics, advanced materials, clever factories, clever, connected machines, and other applications are anticipated to be main segments of the market. As per industry, there could be segments including oil and gas, energy and utilities, government, manufacturing, telecommunication, automotive, and others.

Regionally, the worldwide industrial analytics market is predicted to be classified into North America continent as a main region accounting for a leading share. Asia Pacific Excluding Japan and Europe (EU) could be among the markets with superior revenue growth. Nevertheless, the Middle East (ME) and African continent and Japan (JP) are anticipated to struggle with their growth in the next years. Latin America area could be another crucial region to consider.

Global Industrial Analytics Market: Competition

Some of the crucial players of the worldwide industrial analytics market are estimated to be General Electric Company, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, SAP SE, Cisco Systems, Incorporated, Intel Corp., Oracle Corp, TIBCO Software, Incorporated, and Hitachi Ltd.

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