Big Data Analytics in Manufacturing Industry Market

Global Big Data Analytics in Manufacturing Industry Market Size (2024 to 2029)

The global big data analytics in manufacturing industry market is predicted to reach USD 1.54 billion in 2024 and USD 5.94 billion by 2029, growing at a CAGR of 30.9% during the forecast period.

The market value of big data analytics in the manufacturing industry is expected to increase more with the increasing investments in R&D in the coming years.

A large volume of structured and unstructured data stored daily is generally known as Big Data. Companies implement this technique to examine market trends, hidden patterns, and other useful information that helps them make effective business decisions.

Global Big Data Analytics in Manufacturing Industry Market Drivers:

The rising demand for big data across various industry verticals is one of the major driving factors of the global Big Data Analytics market growth rate in the manufacturing industry. Another major driving factor was the increase in the need for big data in manufacturing to reduce production defects and optimize supply chain management.

The adoption of manufacturing analytics by various automobile manufacturers is one of the growth-supporting factors of the market for Big Data Analytics in the Manufacturing Industry in terms of revenue rate. Increasing investments by companies from emerging economies such as India, Brazil, and China in new product innovation boosts the growth of the market for Big Data Analytics in the Manufacturing Industry.

Global Big Data Analytics in Manufacturing Industry Market Restraints:

The high cost of equipment hinders the growth of the worldwide market for big data analytics in the manufacturing industry. Another major restraint affecting the growth of the market is the integration of big data in this industry.

Impact of COVID-19 on the global big data analytics in the manufacturing industry market:

The market of Big Data Analytics in the Manufacturing Industry is expected to increase the revenue rate in the next few months with all the industries starting their manufacturing of the products that, in turn, are going to increase the revenue rate of the Big Data Analytics in the Manufacturing Industry. Coronavirus has impacted global industries in three ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets due to the strict lockdown imposed by government authorities all around the world.

GLOBAL BIG DATA ANALYTICS IN MANUFACTURING INDUSTRY MARKET REPORT COVERAGE:

The global Big Data Analytics in the Manufacturing Industry market is segmented and sub-segmented based on the component, application, deployment mode, end-user industry, and region.

Global Big Data Analytics in the Manufacturing Industry Market - By Component:

• Software

• Services

Among these, the services segment holds the major share of the market among the others.

Global Big Data Analytics in the Manufacturing Industry Market - By Application:

• Field Activity Management

• Predictive Maintenance

• Budget Monitoring

• Product Life Cycle Management and Other Applications

Among these, the product life cycle management tower segments hold the major share of the market.

Global Big Data Analytics in the Manufacturing Industry Market - By Deployment Mode:

• Cloud

• On-Premises

Among these, the cloud segment holds the major share of the market as it is becoming more popular worldwide.

Global Big Data Analytics in Manufacturing Industry Market - End User Industry:

• Semiconductor

• Aerospace

• Automotive

• Others

Among these, the semiconductor segment holds a substantial share of the market compared to the other segments.

Global Big Data Analytics in Manufacturing Industry Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

Asia Pacific region holds the major share of the market due to the presence of some of the key industry players in the area, which is also a major driving factor that helps the growth of the market of Big Data Analytics in the Manufacturing Industry in the Asia Pacific. Also, increasing investments and development in some of the emerging economies such as China and India are major driving factors that propel the growth of the market of Big Data Analytics in the manufacturing industry in the Asia Pacific area.

North American region holds the second largest share of the market of Big Data Analytics in the Manufacturing Industry owing to the increase in ground in local business operations. These are some of the factors that are helping the Big Data Analytics market in the manufacturing industry to grow further in the North American region.

The European region is anticipated to increase the market value of Big Data Analytics in the Manufacturing Industry owing to the surge in funding by the major key players in the market in European nations.

Key Market Players:

Some of the key players of the global Big Data Analytics in the Manufacturing Industry market are:

1. IBM Corporation

2. SAP SE

3. SAS Institute Inc.

4. OpenText Corporation

5. Microsoft Corporation

6. Oracle Corporation

7. Microstrategy

8. Information Builders

9. Tableau Software Inc.

10. Qlik Technologies Inc. and Others

Recent Developments:

• In June 2020, Microsoft Corporation collaborated with Hitachi to meet the growing demand for predictive maintenance and process automation in the manufacturing and logistics industries across Southeast Asia, North America, and Japan.

• In October 2019, Erbessd Instruments introduced a wireless vibration monitoring system known as Phantom that can integrate parameters like temperature, RPM, power, and speed into a single diagnosis system.