Manufacturing Analytics Software

Manufacturing is a process of constant improvement. Manufacturing analytics software enable companies to drill down on manufacturing data to find optimization opportunities.

Manufacturing Analytics and IIoT in factories is predicted to have $3.9T to $11.1T market size by 2025.

Software leaders such as IBM, SAP and industrial automation experts such as GE and Siemens have developed manufacturing analytics solutions. Additionally, startups are combining manufacturing domain expertise and software capabilities to build new solutions.

An important criteria in manufacturing analytics software is data integration capabilities. Industrial systems use a wide variety of data formats and communication standards, therefore it makes sense to check integration capabilities of your potential manufacturing analytics solution to ensure that your physical machines' data can be fed into the manufacturing analytics software.

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Compare Manufacturing Analytics Software
Results: 20

AIMultiple is data driven. Evaluate 20 products based on comprehensive, transparent and objective AIMultiple scores. For any of our scores, click the icon to learn how it is calculated based on objective data.

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Rockwell Automation
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2.5758371284973824
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Falkonry
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2.5076674260177407
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2.0038334255019574
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Sight Machine
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1.8878489068144335
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1.9995472428833656
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Element Analytics
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Element unlocks industrial data, enabling modern analytics systems to find insights that transform operational performance.

1.5893219299682015
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29.466833095577744
2.2946388670690707
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ptc
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1.4154426504633504
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2.4987457091144334
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Predictronics
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1.3492489154034186
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Konux
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1.3444344851132093
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Fero Labs
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1.3379951751461727
0.6305352627808855
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0.01783166904422254
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Predikto
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1.2168460319104195
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C Labs
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Market Presence Metrics

Popularity

Searches with brand name

These are the number of queries on search engines which include the brand name of the product. Compared to other product based solutions, manufacturing analytics software is more concentrated in terms of top 3 companies' share of search queries. Top 3 companies receive 80% (6% more than average) of search queries in this area.

Web Traffic

Manufacturing analytics software is a highly concentrated solution category in terms of web traffic. Top 3 companies receive 75% (2% more than average solution category) of the online visitors on manufacturing analytics software company websites.

Maturity

Rockwell Automation
ptc
Sight Machine
Foghorn

Number of Employees

Median number of employees that provide manufacturing analytics software is 60 which is 6 more than the median number of employees for the average solution category.

In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 11 companies (38 less than average solution category) with >10 employees are offering manufacturing analytics software. Top 3 products are developed by companies with a total of 10-50k employees. However, all of these top 3 companies have multiple products so only a portion of this workforce is actually working on these top 3 products.

Learn More About Manufacturing Analytics Software

What are the Challenges?

There are technical and organizational challenges ahead to implement successful manufacturing analytics software. First challenge comes with organizational; many production facilities have conservative mindset and have inertia to involve innovative tools for improvement through IT software systems. Second challenge is domain expertise; as all processes have unique set ups, one size fits all approach does not work. New vendors mush have a domain expertise and have a deep understanding of complicated processes of their clients. So considering the right vendor which has a domain expertise and involving right stakeholders and aligning them all for the manufacturing analytics benefits for the business is crucial.

What are Manufacturing Analytics Use Cases in Predictive Analysis?

Analytical insights that help to predict and prevent machine malfunction, machine learning algorithms analyses historical data to determine which indicators signal the malfunction so that these events can be predicted.

This requires collecting historical data from legacy machineries which is difficult for companies to do. Industrial Internet of Things (IIoT) solutions solve that challenge by combining machine to machine communications. IIoT brings industrial devises connected by communication technologies that results in the systems that can monitor, collect, exchange and deliver valuable insights.

What are the Benefits of Manufacturing Analytics?

Increase revenue;

Improving quality assurance have direct impact on the revenue streams, in addition to the quality, diminishing capacity constraints on the factory floor through data insights enable business to fulfill exceeding demand requests.

Reduce cost;

Decreasing inefficiency in every step of operations have accumulated impact on the cost reduction, potential cost benefits of manufacturing analytics software;

  • Reduce maintenance costs by 40%,
  • Reduce downtime by 50%
  • Reduce equipment capital investment by 3-5%
  • Reduce worker injuries by 10-25%, saving companies $225M collectively
  • Reduce energy use by 10-20%
  • Improve labor efficiency by 10-25%

What is Manufacturing Analytics?

Manufacturers collect everyday data from operational data, built in sensors, historian software, ERP systems and spreadsheets. However more than 90% of the collected data is thrown away.

Manufacturing analytics is about getting all the data from different variety of sources and using it for increase operational efficiencies and preventing slowdowns.

Manufacturing analytics is focused on collecting and analyzing data rather than process control, it helps to monitor operational equipment effectiveness of the facility and creates action-oriented dashboards to visualize the performance.

Primary manufacturing analytics used cases today are process optimization and predictive maintenance.

Q&A

What are Manufacturing Analytics Use Cases in Process Optimisation

Advanced analytics detects each step of inefficiency of operations which is measured by overall equipment effectiveness (OEE). Analytics software can improve three components of OEE;

Uptime: ensuring machines are running especially in complicated systems

Throughout & Performance: Maximizing throughput by preventing slowdowns that are not visible to conventional analysis

Quality: Scrap and low quality cost the manufacturer