Market Size – USD 1.11 Billion in 2020, Market Growth – at a CAGR of 33.1%, Market Trends – Rising adoption of automation in manufacturing industry.
Vancouver, B.C., January 27, 2021 -The global big data analytics in manufacturing market is expected to reach a market size of USD 11.03 Billion by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. A key driving factor includes increasing application of big data analytics in manufacturing industry for demand forecasting. Increasing demand for asset optimization solutions is expected to further fuel growth of the global big data analytics in manufacturing market growth during the forecast period. Rising adoption of automation in manufacturing industry is also expected to propel global big data analytics in manufacturing market growth.
The high cost of big data analytics solutions is expected to hamper growth of the global big data analytics in manufacturing market to a certain extent during the forecast period.
Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.
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Key Highlights of Report:
- Increasing adoption of big data analytics software for production forecasting and business performance measurement is driving revenue growth of the solution segment currently, which is expected to register a significantly high CAGR of 33.2% over the forecast period.
- In terms of market share, the cloud-based segment is expected to lead among the other deployment segments in the global big data analytics in manufacturing market during the forecast period due to increasing implementation of cloud technology in manufacturing industry.
- Increasing need to reduce the number of failures during production is expected to contribute to revenue growth of the predictive maintenance segment in the global big data analytics in manufacturing market during the forecast period.
- Factors such as robust 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 North America, are resulting in the market in the region accounting for comparatively larger revenue share than other regional markets.
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The key companies studied in the report are:
- Microsoft Corporation
- International Business Machines Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- TIBCO Software Inc.
- Alteryx Inc.
- Fair Isaac Corporation
- MicroStrategy Incorporated
- Angoss Software Corporation
On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the RD sector.
Emergen Research has segmented the global big data analytics in manufacturing market on the basis of component, deployment, application:
Component Outlook (Revenue, USD Billion; 2021–2028)
Deployment Outlook (Revenue, USD Billion; 2021–2028)
Application Outlook (Revenue, USD Billion; 2021–2028)
- Predictive Quality
- Predictive Maintenance
- Anomaly Detection
- Tool Life-cycle Optimization
- Computer Vision
- Supply Chain Management
- Production Forecasting
- Work Cell Optimization
- Product Lifecycle Management (PLM)
Browse the complete Global big data analytics in manufacturing Market Research Report – Industry Analysis, Size, Share, Growth, Trends @ https://www.emergenresearch.com/industry-report/big-data-analytics-in-manufacturing-market
The report addresses the following key points:
- The report estimates the expected market size from 2020-2028
- The report provides a forecast of market drivers, restraints, and future opportunities for the big data analytics in manufacturing market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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