U.S. Manufacturing Analytics Market Growth, Demand & Opportunities

Posted by Devanshu Shrivastava on March 30th, 2021

The manufacturing sector of the U.S. is continuously adopting intelligent analytics tools to enhance productivity. The constant evolution in manufacturing technologies is helping in improving the present condition of the sector and enabling product innovation. As part of this technological development, the manufacturing industry is widely adopting digital twins to widen the scope of innovations. 

Manufacturers in the U.S. are showing great interest in adopting this simulation technique that uses the internet of things (IoT), artificial intelligence (AI), and machine learning (ML) for mirroring the intricate pieces of machinery, to predict how they respond in specific scenarios. Additionally, the surging demand for greater organizational and operational visibility through big data will fuel the U.S. manufacturing analytics industry at a high CAGR of 17.6% during 2020–2030. The market stood at .5 billion in 2019, and it is projected to reach .1 billion by 2030. 

Big data has revolutionized production operations, with real-time insights and data collection for analysis gaining exceptional interest among U.S.-based manufacturers. Industrialists can slice and dice the data in a way that enables them to procure a holistic understanding of their business activities. Additionally, manufacturers in the country are working on improving supply chain management, by deploying various analytics tools like big data and digital twins. 

Supply chain management solutions address production needs in the areas of sales and operations planning, network and inventory optimization, business intelligence, manufacturing and logistics optimization, product lifecycle management, raw material procurement, and radio-frequency identification (RFID) of assets. Analytical tools power autonomous and intelligent systems, which can be leveraged to streamline the process in various stages of a supply chain.

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

U.S. Manufacturing Analytics Market Segmentation

Based on Solution

• Software
• Service
  • Professional
  • Managed

Based on Deployment

• On-Premises
• Cloud

Based on Application

• Asset Management
• Inventory Management
• Supply Chain Management (SCM)
• Predictive Maintenance
• Energy Management
• Customer Management
• Emergency Management

Based on Industry

• Consumer Products
• Food & Beverages (F&B)
• Electronics
• Chemical
• Automotive & Aerospace
• Oil & Gas
• Pharmaceutical