Published on : Nov 23, 2017
Albany, New York, November 23, 2017: Market Research Hub (MRH) has included a new report in its database named “Industrial Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.” The report offers a detailed analysis and insights that are supported by data and vital statistics. According to the report, the industrial analytics market is predicted to collect a valuation of US$21.6 bn by the forecast period of 2022 and the market is estimated to grow at a CAGR of 11.3% during the forecast period, 2017-2022. However, industrial analytics market was valued at a US$12.6 bn in 2017.
Factors Determining Growth of the Industrial Analytics Market
Growing value of industrial application and data analytics are the factor responsible for upsurge in the growth of the Industrial analytics market. The progression could be supported by three chief facilitators such as, next-generation industrial infrastructure, connected products and machines and advanced data analytics techniques. The specific combination could put forward the new business branch and higher capabilities factors. Additionally, the industrial analytics will play significant role in all respective work.
Industrial Analytics Market: Segmental Analysis
The research report segments the industrial analytics market by application, by end-user, by component, by industry and by the region. The report confer the comprehensive projection of the various market.
- Based on application, the industrial analytics market is segmented into advanced materials, connected machines, advanced robotics, smart factories, smart and other applications.
- On the basis of end user, the industrial analytics market is segmented into large enterprise and small and medium enterprise.
- Based on component, the industrial analytics market is divided into managed services, software and other supported service. Among all the components, software is estimated to be the leading segment of the industrial analytics market with a US$10.0 bn anticipated to be acquire by the end of 2022. It is predicted to grow at a US$0.7 bn annually over the said period.
- By Industry, the industrial analytics market is segmented into manufacturing, automotive, energy and utilities, oil and gas, telecommunication, government and others.
- On the basis of region, the industrial analytics market is divided into North America, Japan, APEJ Europe, Latin America and MEA. Out of all the region, North America to dominate the industrial analytics segments. Also, this region is expected to grow at a 12.4% CAGR during the forecast period of 2017. Asia Pacific Excluding Japan (APEJ) and Europe is followed by other leading region. Whereas, APEJ could estimated to grow at an 11.3% CAGR over the forecast period of 2017 and 2022. Moreover, the Middle East & Africa (MEA) and Japan could grow at steady pace in the industrial analytics market and MEA is estimated to forfeit 60 basis points (BPS) over the said period.
Industrial Analytics Market: Key Players
Some of the prominent players in the industrial analytics market are profiled in this report includes, Hitachi Ltd., General Electric Company, SAP SE, TIBCO Software, Inc., Hewlett Packard Enterprise Company, Oracle Corp, Intel Corp., International Business Machines Corporation, Cisco Systems, Inc., and Microsoft Corporation.
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