The enterprise manufacturing intelligence market is expected to register a CAGR of 16% during the forecast period. With the usage of data analytics, manufacturing intelligence software can monitor the factory’s entire infrastructure, which enables the users to better understand which machines are not working up to the specifications and also to improve the overall resource effectiveness and efficiency.
– As businesses are accelerating their pace, there is a greater need for industries to see their plant floor activity throughout the enterprise, primarily to make faster and more informed decisions. However, the complex supply chains, the distributed operations, and the data that is being captured in different formats are making it difficult to gain access to such critical operational parameters, which is one of the major reasons driving the market forward.
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– With the advent of Industry 4.0 in the manufacturing industry, multiple plants are adopting digital technologies to enhance, automate, and modernize their whole process. The integration of different digital transformation technologies, such as the internet of Things (IoT), is significantly becoming prevalent, as it provides exceptional benefits.
– The manufacturing companies are modernizing their supply chain through Big Data and GPS tracking, which not only helps in data-driven planning to address the supply, demand, and logistics issues, but also provides a competitive advantage over competitors and stay ahead in the market.
– Moreover, the emergence of Big Data is expected to play a major role in the development of the market, as it can be extensively used in automotive, aerospace and defense, and other sectors. The integration of Big Data with the enterprise manufacturing intelligence software will help enterprises to identify, analyze, and mitigate the issues and faults in their manufacturing unit that could increase the productivity.
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