The global big data analytics in manufacturing market size of USD 1.11 Billion in 2022 and is expected to register a CAGR of 31.1% during the forecast period.
Big Data Analytics in Manufacturing Market Overview
Big data analytics is a background of gathering a large volume of data for data mining, trend analysis. Over the years, industrialization is taking place at a fast pace and the volume of manufacturing is growing day by day. Therefore, the massive shift in data generation by the manufacturing industry is pushing the global big data analytics in the industrial industry market.
Growing focus on the adoption of solutions to reduce downtime is favoring the development of global big data analytics in the manufacturing market. In addition, surging demand for faster integration of automation will offer lucrative prospects the big data analytics in manufacturing market growth through 2028. However, the high costs associated with big data analytics may restraint market growth to a certain scope. Although Big Data analytics results are heartening, the manufacturing industry has not yet grasped the full potential of the technology. This affords good scope to the Big Data analytics in the manufacturing industry to expand in the future. It is estimated that the manufacturing industry has variable efficiency among similar verticals, which has multiple variables to work. For instance, an automotive manufacturer may deal with numerous vendors and suppliers for the different parts mandatory to assemble an automobile.
Industries are aggressively trying to adopt the impression of the “smart industry,” where the data generation and visualization become real-time. The evolution of analytics from expressive to projecting analytics has made the industry aware of the benefits it can reap from this data volume. The motto of the manufacturing industry is moving toward a metrics-based sector, which can progress the decision based on the data-driven use of numbers.
Who are the Major Players in Big Data Analytics in Manufacturing Market?
The Global Big Data Analytics in Manufacturing Market study report will provide a valuable insight with an emphasis on the global market including some of the major players such as VIS Networks, IBM, SAP, Microsoft, Oracle, SAS Institute, OpenText, Microstrategy, Information Builders, Tableau Software, Qlik Technologies
Industry News and Update
Strategy Analytics findings cite IBM, SAS, and SAP as the traditional market leaders but claim many powerful challengers now exist including Bosch, Cisco, Dell, General Electric, Intel, Microsoft, Oracle, and others who are coming on strong.
Big Data analytics is the difference between being proactive and reactive, adds Andrew Brown, Executive Director of the Enterprise and IoT Research, Strategy Analytics.
Accelerating digital transformation with Big Data and analytics solutions enables organizations to gain faster and more accurate insights into their business while implementing new processes and applications based on those insights. Big Data and Analytics in combination with SAP delivers the flexibility to use technologies such as storing big data, predictive analysis, and in-memory computing to manage and visualize data and to get the insights at the right time and right way.
What are the major Applications, Types, and Regions for Big Data Analytics in Manufacturing Market?
The market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
By Application, it is segmented into
- Predictive Quality
- Predictive Maintenance
- Anomaly Detection
- Tool Life-cycle Optimization
- Computer Vision
- Supply Chain Management
- Production Forecasting
- Work Cell Optimization
- Product Lifecycle Management (PLM)
- Others
Big Data Analytics in Manufacturing Market Regional Analysis
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Among all regions, North America is projected to account for the highest big data in the industrial Industry share in the coming years. Rapid growth in the manufacturing industry in the U.S. and Canada will aid the growth of the market in this region. Besides North America, the market in Europe will witness considerable growth in the coming years driven by the presence of large manufacturing units in several countries across this region. As of 2018, the market in Europe was worth USD 0.86 billion and this value is projected to grow at a rapid pace.
North American market is predicted to account for higher market share among other regional markets during the forecast period due to high presence of domestic and international market players such as Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, and SAS Institute Inc., among others in countries in the region. The European market is projected to register steady growth in terms of revenue during the forecast period owing to the existence of well-established industrial industry in countries like Germany, Spain, the U.K, Italy, and the Netherlands.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
What is our Big Data Analytics in Manufacturing Market report scope?
Scope of the Report covers Big Data Analytics in Manufacturing Market with detailed analysis of the overall scenario for the market. It also highlights the business participants' environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this {Product Name} Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2028. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.
Key Takeaways from this Big Data Analytics in Manufacturing Market Report
- Evaluate Big Data Analytics in Manufacturing Market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level - for product types, end-use applications, and by different industries verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.
- Get in-depth insights on your competitor's performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Big Data Analytics in Manufacturing Market entropy - M&A's, deals, partnerships, product launches of all key players for the past 5 years.
- Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
