Manufacturing Intelligence Statistics


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Manufacturing Intelligence Statistics 2023: Facts about Manufacturing Intelligence outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Manufacturing Intelligence, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

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Top Manufacturing Intelligence Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 42 Manufacturing Intelligence Statistics on this page 🙂

Manufacturing Intelligence “Latest” Statistics

  • According to 360Suite’s Business Intelligence (BI) Survey, a BI adoption rate of over 80% was mainly found among companies with more than 5,000 employees.[1]
  • Microsoft Azure is crucial or extremely important to 84% of enterprises, according to a new survey on business intelligence trends.[1]
  • Business intelligence statistics show that the cloud analytics industry is growing at the quickest pace (23%).[1]
  • Business intelligence data indicate that China’s economic expansion will be reflected in the BI industry as well; the country’s BI market is anticipated to develop at a CAGR of 18.7% and reach $5.2 billion by 2027.[1]
  • Amazon Web Services comes in second with 33% critical importance and 66% of companies rating it critical or very important.[1]
  • According to data on business intelligence usage, 58% of manufacturing companies were using cloud BI products.[1]
  • Despite having more access to BI technologies, just 26% of people worldwide have adopted BI tools.[1]
  • In a survey conducted by Finances Online, 35.37% of companies said data preparation is very important, 24.15% stated it’s important, and 27.89% described it as critical for current and future initiatives.[1]
  • Business intelligence market statistics indicate that the mobile segment of the BI market is expected to grow at a CAGR of 18.9% in the forecasted period.[1]
  • 52% of software companies and 50% of finance companies use BI tools.[1]
  • According to forecasts, the market would increase with a CAGR of 8.7% and reach $43.03 billion by 2028.[1]
  • Data engineers were expected to be in demand in 2020 at a decent rate of 45%, according to Hired (2020).[2]
  • As of 2019, salaries for data engineers in the San Francisco Bay area increased by 6%, or by an average of $160,000 per year.[2]
  • In 2019, 64% of users reported that BI data and analytics helped improve their efficiency and productivity.[2]
  • Manufacturing has the greatest adoption rate of cloud BI in 2020 at 58%, followed by financial services and business services at 40%.[2]
  • According to New Vantage Partners (2020), just 37.8% of businesses report developing a data driven company, and only 26.8% believe they have successfully established a data culture.[2]
  • At a CAGR of 18.9%, the worldwide market for mobile business intelligence is projected to grow from its 2020 valuation of $8.8 billion to $29.6 billion by 2027.[2]
  • According to KPMG (2019), 46% of CIOs suffered from a skills shortage, followed by a shortage of AI skills (38%).[2]
  • About 62.5% of the 2019 business intelligence and analytics software market worldwide were controlled by the top 10 business intelligence software vendors, which had a combined revenue of almost $14.9 billion. (Apps Run the World, 2020).[2]
  • Cloud analytics is the fastest growing market sector, projected to increase at a CAGR of 23.0% from $23.2 billion in 2020 to $65.4 billion by 2025.[2]
  • With a 76% CAGR, it is expected that the worldwide business intelligence market would grow from $23.1 billion in 2020 to $33.3 billion by 2025.[2]
  • According to Allied Market Research (2020), the worldwide business intelligence and analytics software market was valued at $193.14 billion in 2019 and is predicted to reach $420.98 billion by 2027, growing at a projected CAGR of 10.9% from 2020 to 2027.[2]
  • Business intelligence adoption figures indicate that by 2021, the United States will produce $11,727 million.[3]
  • Nearly 50% of manufacturers believe that their spending for BI and analytics would increase in the next years, according to business intelligence data for 2022.[3]
  • Seven out of ten clients, according to business intelligence statistics, believe Microsoft Azure is one of the finest providers.[3]
  • Organizations in the United States lose upwards of $109 billion due to data inaccuracies, according to business intelligence statistics.[3]
  • According to business intelligence usage statistics, 89% of manufacturers with BI and analytics initiatives say they work.[3]
  • Business intelligence utilization data show that both financial and business services have a 40% share.[3]
  • Modern BI solutions are frequently used by organizations when business users want insight into dynamics that change rapidly, such as marketing events, when being quick is more important than having data that is 100% accurate.[4]
  • Poor data governance is cited by 21% of BI organizations as a serious concern for their clients.[5]
  • 34% of businesses in Canada and Mexico compared to 24% in Europe, Greenland and the U.S employ cloud BI completely or partly.[5]
  • A recent study conducted by Accenture found that only 32% of business executives were able to generate measurable value out of data.[5]
  • According to statistics on business intelligence, the market for cloud-based BI was worth $750 millions in 2013.[5]
  • In 2020, 54% of enterprises agreed that cloud-based BI was vital to their current and future initiatives.[5]
  • MnM predicts that the global Business Intelligence market will grow from $23.1 billion in 2020 to $33.3 billion by 2025 at a Compound Annual growth Rate (CAGR), of 7.6% over the forecast period.[5]
  • According to an Accenture research, just 27% of corporate leaders said their data and analytics initiatives gave them useful insights.[5]
  • Data engineers are expected to be in high demand, with demand expected to increase by 50% yearly, making this one of the fastest growing employment areas in the nation.[5]
  • According to the Accenture report, 21% of the worldwide workforce is confident in their ability to use data.[5]
  • 48% of workers experience overwhelming feelings while dealing with data at least once a week and 74% of workers experience stress or dissatisfaction while handling data.[5]
  • 93% of executives believe that data is critical to their success, only 38% are able to effectively use data analytics, according to Accenture.[5]
  • BI technologies are already used by around 50% of firms, and predictions indicate significant expansion in the next years.[6]
  • According to Bi-Survey.com (2021), 16% of BI customers believe slow query performance is a major issue and 11% of BI Vendors believe this to be an issue for their customers.[7]

Also Read

How Useful is Manufacturing Intelligence

One of the key benefits of manufacturing intelligence is its ability to provide real-time visibility into the entire production process. This visibility allows companies to monitor and analyze various aspects of their operations, such as equipment performance, downtime, inventory levels, and production output. By having access to this information in real-time, organizations can quickly identify any issues or bottlenecks in their production flow and take appropriate actions to address them. This proactive approach helps to minimize disruptions and maximize efficiency, ultimately leading to improved overall efficiency.

Manufacturing intelligence also enables organizations to optimize their production processes by providing insights into the performance of individual machines and production lines. By analyzing historical data and trends, companies can identify opportunities to streamline processes, reduce waste, and increase throughput. This data-driven approach helps organizations make informed decisions about resource allocation, scheduling, and maintenance, leading to increased productivity and cost savings.

Furthermore, manufacturing intelligence plays a crucial role in helping companies identify and respond to changing market dynamics and customer demands. By analyzing market trends, demand forecasts, and customer feedback, organizations can quickly adapt their production processes and offerings to meet evolving needs. This agility allows companies to stay ahead of the competition and capitalize on emerging opportunities, leading to increased market share and business growth.

In addition to operational benefits, manufacturing intelligence also offers significant strategic advantages. By analyzing historical data and trends, companies can gain valuable insights into their performance, strengths, and weaknesses. This information can help organizations develop long-term strategies and make informed decisions about investments, product development, and market expansion. By leveraging this intelligence, companies can stay ahead of market trends, anticipate future challenges, and position themselves for sustainable growth and success.

Overall, manufacturing intelligence is a valuable tool that offers numerous benefits to organizations in the manufacturing industry. By providing real-time visibility, optimizing production processes, responding to market dynamics, and informing strategic decisions, manufacturing intelligence enables companies to improve efficiency, reduce costs, increase productivity, and enhance overall performance. As technology continues to advance and data becomes increasingly important, manufacturing intelligence will only become more critical in helping organizations stay competitive and thrive in the modern business landscape.

Reference

  1. dataprot – https://dataprot.net/statistics/business-intelligence-statistics/
  2. financesonline – https://financesonline.com/20-essential-business-intelligence-statistics-analysis-of-trends-data-and-market-share/
  3. techjury – https://techjury.net/blog/business-intelligence-statistics/
  4. cio – https://www.cio.com/article/272364/business-intelligence-definition-and-solutions.html
  5. enterpriseappstoday – https://www.enterpriseappstoday.com/stats/business-intelligence-statistics.html
  6. tableau – https://www.tableau.com/learn/articles/business-intelligence
  7. trustradius – https://www.trustradius.com/vendor-blog/business-intelligence-statistics-and-trends

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