Why is U.S. Manufacturing Analytics Market Expected to Boom in Southern U.S. during 2020–2030?

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The rising focus on improving supply chain management is one of the biggest factors fuelling the rise in the adoption of manufacturing analytics in the U.S. The main factors responsible for the increasing focus toward enhanced supply chain management are soaring awareness about supply chain management, rising need for higher customer satisfaction and reduced operational costs, and increasing demand for improved inventory control. The manufacturing analytics tools help in powering the intelligent and autonomous systems for streamlining the various supply chain processes. In addition to this, the analytics solutions help the manufacturing companies in improving supply chain communications.

The burgeoning need for higher organizational and operational visibility through big data is another important factor propelling the demand for manufacturing analytics in the U.S. Big data is being increasingly adopted by several manufacturing companies in the U.S. for data collection and attaining real-time insights. This data helps the companies in attaining a holistic understanding about their business operations and activities, which, in turn, help them optimize operations, improve production, and address potential issues before their occurrence. 

Due to the above-mentioned factors, U.S. manufacturing analytics market value is predicted to increase from $2.5 billion in 2019 to $14.1 billion by 2030. The market is expected to progress at a CAGR of 17.6% during the forecast period (2020–2030). There are two methods by which the manufacturing analytics solutions are commonly deployed — cloud and on-premises. Of these two, cloud-based manufacturing analytics solutions are predicted to observe faster growth in implementation during the forecast period, owing to the enhanced flexibility and scalability offered by these solutions.

One of the major trends presently being witnessed in the U.S. manufacturing analytics market is the rising adoption of digital twins. Since the last few years, there have been huge advancements in manufacturing technologies and this has massively improved the state of the manufacturing industry in the U.S. Moreover, these technological advancements are expected to enable innovation in products in the coming years. Digital twins is one such advanced technology, which uses internet of things (IoT), machine learning, and artificial intelligence (AI) for mirroring the complex pieces of machinery in order to predict their behavior in certain situations. 

In the U.S., the manufacturing analytics solutions are widely adopted by the pharmaceutical, automotive & aerospace, consumer products, food & beverages, oil & gas, electronics, and chemical industries. Amongst these, the electronics industry recorded the highest adoption of manufacturing analytics solutions in 2019, owing to increasing industry competition. Southern U.S. is expected to observe large-scale adoption of manufacturing analytics solutions during the forecast period. This is mainly credited to the existence of a large number of manufacturing companies, the presence of a highly-skilled workforce, pro-business laws, improving manufacturing infrastructure, and availability of huge areas of land for manufacturing, in the region. 

Therefore, the demand for manufacturing analytics solutions is certain to rise in the U.S. in the coming years, due to the increasing need for enhanced supply chain management and the rising incorporation of advanced technologies by the manufacturing companies in the country.

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