Industrial Analytics Market Growth Outlook Through 2024-2033

Overview and Scope
Industrial analytics refer to the collection, analysis (using R programming), and use of data (Big Data) generated throughout industrial activities and over the course of a product’s entire lifespan. It includes data collection methods as well as statistical and dynamic modelling methods (Vensim). It requires multiple tools and techniques for data collection and statistical and dynamic modeling.

Sizing and Forecast
The industrial analytics market size has grown rapidly in recent years. It will grow from $26.27 billion in 2023 to $30.47 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to efficiency and optimization, predictive maintenance, cost reduction strategies, globalization and supply chain optimization, regulatory compliance.

The industrial analytics market size is expected to see rapid growth in the next few years. It will grow to $57.52 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to cybersecurity focus, edge computing integration, customization for industry-specific needs. Major trends in the forecast period include integration of sensor technologies, industry 4.0 adoption, digital twins integration, integration of IoT sensors, cybersecurity for industrial systems.

Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/industrial-analytics-global-market-report

Segmentation & Regional Insights
The industrial analytics market covered in this report is segmented –

1) By Analytics Type: Predictive Analytics, Prescriptive Analytics, Descriptive Analytics, Diagnostic Analytics
2) By Organization Size: Large Organizations, Small And Medium Organizations
3) By Deployment Mode: Cloud-Based, On-Premises
4) By Component: Software, Services
5) By Vertical: Information Technology (IT) And Telecom, Energy And Utilities, Transportation And Logistics, Retail And Consumer Goods, Manufacturing, Other Verticals

North America was the largest region in the industrial analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7041&type=smp

Major Driver Impacting Market Growth
The rising demand from the e-commerce sector is expected to drive the growth of the industrial analytics market. The increasing adoption of smartphones, easy and affordable access to technology, and the convenience of purchasing from anywhere, at any time are the driving factors of online commerce’s recent surge. Furthermore, due to COVID-19 pandemic, carrying out all the operations at home or remotely is seen, so people tend to use e-commerce platforms to purchase goods and services. For instance, in November 2023, according to The United States Census Bureau, a US-based government agency, during the third quarter of 2023, retail e-commerce sales reached an estimated $284.1 billion, reflecting a notable growth of 7.8% compared to the same period in 2022. Therefore, the rise in demand for E-commerce is driving the industrial analytics market growth.

Key Industry Players
Major companies operating in the industrial analytics market report are Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Hewlett Packard Enterprise Company, Emerson Electric Co., Rockwell Automation Inc., Yokogawa Electric Corporation, SAS Institute Inc., Splunk Inc., PTC Inc., TIBCO Software Inc., Fair Isaac Corporation, Software AG, Altair Engineering Inc., Aspen Technology Inc., OSIsoft LLC, Telit Communications PLC, Cognite AS, Seeq Corporation, Uptake Technologies Inc.

The industrial analytics market report table of contents includes:

1. Executive Summary
2. Industrial Analytics Market Characteristics
3. Industrial Analytics Market Trends And Strategies
4. Industrial Analytics Market – Macro Economic Scenario
5. Global Industrial Analytics Market Size and Growth
.
.
.
32. Global Industrial Analytics Market Competitive Benchmarking
33. Global Industrial Analytics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Analytics Market
35. Industrial Analytics Market Future Outlook and Potential Analysis
36. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model