ARC Advisory Group’s recently published research reveals that the market for industrial analytics is experiencing double-digit growth across various geographies and industries. This surge is attributed to the pivotal role that analytics and AI plays in aiding companies with their smart factory/digital transformation initiatives. Key areas of impact include predictive and prescriptive analytics, quality control, process optimization, supply chain optimization, safety and risk management, and energy management. Industrial analytics are rapidly gaining traction across nearly every vertical market. The automotive industry, an early adopter of analytics, maintains a substantial market share and is projected to sustain this position moving forward. The oil & gas industry is clearly in transition, trying to determine how to move away from fossil fuels and deal with climate change pressures. Driven by necessity, analytics remains a mission-critical tool for navigating rapid change, managing workforce reductions, and meeting pressures to enhance sustainable operations and address rising fuel consumption.
"Today, the potential of industrial analytics is clearer than ever, sparking a laser-sharp focus on achieving business outcomes. This clarity is driving users to adopt technologies that can propel them toward their smart factory/digital transformation goals. As manufacturing, energy, and infrastructure companies adapt to a digitally interconnected world, the demand for advanced analytics solutions is projected to accelerate significantly in the coming years,” according to Marianne D'Aquila, Director of Research and key author of ARC's Industrial Analytics Market Research.
Industrial Analytics Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Knowledge Capture
- Sustainability
- Regulatory Compliance
- Data Proliferation and Increase in IoT Devices
- The Integration of AI
- Increased Adoption of Smart Manufacturing and Industry 4.0
- Boosting Operational Resilience with Industrial Analytics Amid Global Disruptions
Leading Suppliers to the Industrial Analytics Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: AWS, Microsoft, Palantir, SAS, Symphony AI Industrial.
About the Industrial Analytics Research
The Industrial Analytics research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, five-year market forecasts, and one year of historical analysis. The report segmentation includes Industry, World Region, Deployment Model, Application, Overall Scope.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. ARC's Market Data Service (MDS) is an annual subscription service that provides a unique online environment to each customer, together with all the necessary user interface apps and datasets. MDS unlocks the full benefits of ARC’s time-tested market intelligence by leveraging the latest analytical tools and technologies to allow you to make more actionable, real-time business decisions. Interactive access to ARC’s qualitative analysis is displayed in context with up-to-date market data, allowing clients to develop customized views of the market to best suit their needs. ARC continues to offer our traditional static Market Reports as a PDF.
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