Businesses today generate more data than ever before. The analysis of massive amounts of information provides companies with insights on processes, product development, quality control, and resource utilization. Innovations in the Industrial Internet of Things (IIoT) enable real-time advanced analytics in industry 4.0. This makes manufacturing processes safer, faster, cheaper, more predictable, and more efficient. Combining big data and artificial intelligence (AI) facilitates the data economy, where advanced analytics help businesses save time and resources.
While data is often available in abundance, the success of advanced analytics solutions hinges on the algorithms that interpret them. This creates demand for machine learning (ML) and deep learning technologies that decipher even previously unusable data. Moreover, much of the advanced analytics talent is available only in a handful of cities, making it quite difficult for others to find suitable expertise.
Top 5 Global Advanced Analytics Startup Hubs
Using our Innovation Intelligence Platform, we analyzed the geographic distribution of global activity in advanced analytics for Industry 4.0. We identified 23 regional hubs (a hub is defined as the regional geographic center of activity for this topic. It covers the center point with a radius of 100km) that see high activity in developing advanced analytics solutions for Industry 4.0.
According to our data, Silicon Valley, New York City, London, Boston, and Bangalore are home to 282 startups (we define startups as those founded after 2010) and account for nearly 24% of global startup activity. Let us have a look at some of the advanced analytics startups from these 5 top hubs.
According to our data, three-fourths of all activity in advanced analytics for Industry 4.0 occurs in the US and in Europe. Recent developments in analytics, combined with hubs for innovations in artificial intelligence, create ideal conditions for advanced analytics to transform manufacturing and take Industry 4.0 to the next level.
Even though the rest of the world sees comparatively lower activity, India, Singapore, and Canada have significant examples of advanced analytics solutions. As analytics influences manufacturing in multiple industries and as more manufacturers adopt the IIoT, smart, safe, and informed manufacturing is set to expand and become a staple for the industry.
#1 Silicon Valley | 113 Startups & Emerging Companies
Facebook, Google, and other industry giants are pouring millions of dollars into data-driven analytics. Even among startups, data analysts are the most sought after roles. The great diversity of industries in the area translates into the massive potential for advanced analytics solutions.
Drishti is a startup based out of Mountain View, California, that employs computer vision to create industrial analytics solutions. They use deep learning algorithms for video streams to analyze workers’ movements in real-time. This provides actionable insights for operators, supervisors, and engineers, as well as enables them to boost production efficiency. Their technology applies to a wide range of manufacturers, including electronics, medical parts, and automotive.
#2 New York City | 50 Startups & Emerging Companies
New York City boasts one of the largest advanced analytics talents in the US, next to Silicon Valley. Started in 2014, NYC Tech Talent Pipeline trains thousands of New Yorkers for tech roles every year. As part of the NYC Open Data project, the city administration recognizes the need for advanced analytics by encouraging city agencies to make public data openly available.
Based in New York City, Fero Labs develops machine learning software to optimize industrial processes. Their platform helps companies improve key performance indicators. It predicts production quality in real-time, identifies production inputs and settings that influence critical quality metrics, and determines which products are likely to have flaws.
#3 London | 48 Startups & Emerging Companies
The UK is a pioneer in making public datasets openly available to transform public services and public engagement using innovations in analytics. Public initiatives, such as the Offices of Data Analytics and the Data Science Accelerator program provide opportunities for analysts to capitalize on publicly available datasets to solve pressing challenges in the industry. Another example, the Alan Turing Institute, founded in 2015, is a joint venture among top universities in the UK that aims at training a new generation of leaders in data science and artificial intelligence.
Monolith AI is a London-based startup that creates simulation tools to make manufacturing more effective. Their solutions use machine learning to simulate prototypes from complex product and engineering data. This includes unusable file formats like computer-aided design (CAD), engineering (CAE), and manufacturing (CAM) files. Their platform is available both as a desktop application and a private or public cloud offering. It reduces the number of tests that need to be performed before bringing products to the market.
#4 Boston | 36 Startups & Emerging Companies
Home to several prestigious universities, such as the Massachusetts Institute of Technology, Harvard University, Brandeis University, and Northeastern University, Boston benefits from a steady stream of elite tech talent. As there is a lot of activity in artificial intelligence in the area, technologies like computer vision and deep learning stay trending among the advanced analytics startups and companies.
Oxys is a startup from Cambridge, Massachusetts, that provides Industrial Internet of Things (IIoT) solutions for diverse applications. They create reconfigurable hardware architecture, use open source software, and develop powerful edge computing algorithms to generate insights from massive data streams. These insights assist managers in improving asset reliability, machine uptime, and machine utilization. Other than smart manufacturing and smart infrastructure, they also enhance operational efficiency for biotech, pharma, and medical devices industries.
#5 Bangalore | 35 Startups & Emerging Companies
Often called the IT capital of India, Bangalore houses a large number of Indian engineering graduates, many of whom serve in a variety of analyst roles. India already plays a major role in outsourcing analytics services, but now local companies are actively investing in advanced analytics capabilities. Government policies and investments also hint at making the most of the big data challenges that India’s large population poses.
Hailing from Bangalore, Thingstel is an IIoT startup that implements solutions for Industry 4.0. They provide real-time data analytics using sensors that remotely monitor parameters, such as temperature, pH, moisture, light, pressure, and dust to maintain a controlled environment. They also offer other smart solutions like workplace occupancy, security monitoring, and waste bin level monitoring to enable the digital transformation of factory spaces.
Analytics has long found various applications in businesses, such as simulating manufacturing processes to predicting sales. As we move into a data-centric economy, the major challenge lies in advanced analytics that can make sense of big data to drive businesses. The potential of artificial intelligence and the internet of things is set to expand the scope of advanced analytics in Industry 4.0. Get in touch with us to know more about the technologies and industries that interest you!