Global Industrial Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global industrial analytics market in its upcoming report titled, “Global Industrial Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global industrial analytics market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global industrial analytics market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global industrial analytics market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global industrial analytics market report has been segmented on the basis of deployment type, organization size, end-user, and region.

Industrial analytics is the process of collection, analysis, and usage of data generated during industrial operations. Industrial analytics is used to identify and address faults in assets, increase uptime, and reduce repair cost. Results of analytics are used to support human decisions. Industrial analytics primarily includes traditional methods such as statistical modelling and data gathering. Major applications of industrial analytics across the industrial value chain includes research & development, manufacturing process, supply chain, and marketing.

Increasing penetration of Internet of Things (IoT) is a key factor driving growth of the global industrial analytics market. In addition, developments in data mining methods & data warehousing, increasing use of real time applications across the globe, and growing adoption of big data analytics in business process are other factors expected to boost growth of the global industrial analytics market over the forecast period.

However, issues related to data security is a key factor restraining growth of the global industrial analytics market. Additionally, high deployment cost, and lack of skilled workforce are other factors expected to hamper growth of the global industrial analytics market over the forecast period. Complex analytical process and lack of organization culture integration are some other factors expected to challenge growth of the global industrial analytics market.

North America market accounted for dominant revenue share contribution in the global industrial analytics market. This dominance can be attributed to presence of key analytics organizations, and technological advancements in countries in the region. The market in Asia Pacific is projected to register highest growth rate over the forecast period, owing to growing awareness about benefits of industrial analytics, and increasing adoption of Internet of Things (IoT) in business process in emerging economies such as China and India.

Global Industrial Analytics Market Segmentation:

Global industrial analytics market segmentation by deployment market:

• On-premises
• Cloud based

Global industrial analytics market segmentation by organization size:

• Small and medium-sized enterprises
• Large enterprises

Global industrial analytics market segmentation by end-user:

• Energy
• Automotive
• Telecommunication
• Others

Global industrial analytics market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa