Research Nester released a report titled “Industrial Operational Intelligence Solutions Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global industrial operational intelligence solutions market in terms of market segmentation by product type, application, type of deployment, management services, end user industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Industrial operational intelligence solutions deal with real-time dynamic data and delivers proper framework to understand the streams of data and help in business operations. Owing to their various applications and added advantages to the industries the global industrial operational intelligence solutions market is anticipated to record a significant CAGR over the forecast period, i.e., 2021-2029. The global industrial operational intelligence solutions market is segmented by application into production optimization, maintenance, supply chain & logistics management, quality control systems and others, out of which, the supply chain & logistics management segment registered the largest market share in the year 2020 on account of the growing need amongst the organizations in the supply chain & logistics industry to optimize their process, reduce delivery time and inventory costs, which can be achieved by adopting industrial operational intelligence solutions.
Based on the regional analysis, the global industrial operational intelligence solutions market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for industrial operational intelligence solutions in North America is predicted to hold the leading share in the market on account of the presence of leading market players in the region, coupled with the growing requirements amongst organizations for continuously improving the overall process efficiency.
Focus of Organizations to Optimize Work Processes and Adoption of Industrial IoT to Drive the Market Growth
Organizations are focusing increasingly to reduce their cost of operations so that they can maximize their business profits. By adopting to industrial internet of things (IIoT), businesses can now automate their business processes and collect information, which are then monitored for enhancing the work processes. As with the help of industrial operational intelligence solutions, businesses can easily analyze the raw data collected from the automated systems, such a factor is therefore anticipated to drive the growth of the market during the forecast period.
However, the factor of high cost of industrial operational intelligence solutions, lack of trained personnel and fear of cyber threats of these OI systems is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global industrial operational intelligence solutions market which includes company profiling of Data Axle, Siemens (ETR: SIE), Splunk Inc. (NASDAQ: SPLK), Vitria Technology, Inc., Dassault Systèmes (EPA: DSY), Rockwell Automation, Inc. (NYSE: ROK), Bentley Systems, Inc. (NASDAQ: BSY), KOFAX INC., Feedzai Inc., and Guavus, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial operational intelligence solutions market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.