Big Data Analytics in Manufacturing Market CAGR of 30.9%, Overview, Size, Top Industry Players, Growth, Share and Forecast to 2024 to 2032 | Taiwan News
“Big Data Analytics in Manufacturing Market ”, published by Report Ocean, presents a comprehensive analysis of the product’s/service industry, examining both historical patterns and future prospects from 2024 to 2032. This report serves as a valuable reference for businesses seeking to formulate effective strategies for the coming years, offering insights into the performance of organizations and the overall market in the previous year. ➤ Download Free Sample ➤
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Global Big Data Analytics in Manufacturing Market is valued at approximately USD 1.18 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 30.9% over the forecast period 2022-2029. Big data analytics in manufacturing assists businesses in improving supply chain planning, process defect tracking, and component defect tracking. One of the most important applications of big data analytics is predictive analytics, which is used to extract information from data and predict trends and behaviour patterns. The increasing automation across industries and growing demand for big data analytics in supply chain optimization are key factors driving market growth.
Big Data analytics stands as a transformative force, reshaping traditional paradigms and driving unprecedented efficiencies. This comprehensive report delves into the burgeoning realm of Big Data analytics within the manufacturing sector, offering invaluable insights into its evolution, current state, and future projections. By examining key market trends, technological advancements, and industry-specific applications, this report serves as a definitive guide for stakeholders navigating the complexities of modern manufacturing.
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Over the years the spending on automation from different industries including automobiles has significantly increased creating strong demand for Global Big Data Analytics Market. For instance – according to Statista – In 2020, the global industrial automation market is expected to be worth USD 175 billion.
The market is projected to grow at a compound annual growth rate (CAGR) of around nine percent until 2025. The global industrial automation market is expected to reach USD 265 billion by 2025. Also, rising usage of Predictive Analytics Tools as well as growing emergence of (Industrial Internet of Things) IIoT solutions would create lucrative growth opportunities for the market over the projected period. However, limited awareness and concern over data privacy hinder the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Big Data Analytics in Manufacturing Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products and the increasing number of strategic collaborative initiatives between leading market players in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing penetration of smart manufacturing as well as the region being one of the leading hubs for automotive manufacturing would offer lucrative opportunities for the market over the projected period.
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Major market players included in this report are:
IBM Corporation
SAP SE
Microsoft Corporation
Oracle Corporation
SAS Institute Inc.
OpenText Corporation
Microstrategy
Information Builders
Tableau Software Inc.
Qlik Technologies Inc.
Recent Developments in the Market:
In June 2020, in order to fulfil the expanding demand for process automation and predictive maintenance in the industrial and logistics sectors across Southeast Asia, Japan, and North America, Microsoft Corporation teamed up with Hitachi. Both businesses intend to broaden the collaboration’s application to additional industries.
In October 2019, Erbessd Instruments announced the launch of Phantom, a wireless vibration monitoring device that combines additional metrics including temperature, current, RPM, and speed into a single diagnosis system. Both a local database and a cloud-based system can receive data from it. With any gadget, whether a smartphone, computer, or tablet, the user can always keep tabs on their equipment.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
At its core, Big Data analytics in manufacturing empowers organizations to harness vast volumes of data generated across the production cycle. From supply chain management and production optimization to predictive maintenance and quality control, the strategic utilization of data analytics facilitates informed decision-making at every juncture. By leveraging advanced algorithms and machine learning techniques, manufacturers gain unparalleled visibility into operational processes, identifying patterns, anomalies, and opportunities for enhancement with precision and agility.
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Furthermore, the report elucidates the pivotal role of emerging technologies such as the Internet of Things (IoT) and artificial intelligence (AI) in driving the proliferation of Big Data analytics in manufacturing. Through interconnected sensors, smart devices, and intelligent systems, manufacturers can capture real-time data streams from disparate sources, fostering a connected ecosystem conducive to proactive decision-making and adaptive responses. The convergence of Big Data analytics with IoT and AI not only enhances operational efficiency but also facilitates the development of predictive models that anticipate market fluctuations, mitigate risks, and optimize resource allocation.
In addition to its operational benefits, Big Data analytics holds immense potential in catalyzing innovation and fostering a culture of continuous improvement within the manufacturing domain. By facilitating data-driven insights and cross-functional collaboration, organizations can expedite product development cycles, customize offerings to meet evolving consumer demands, and capitalize on emerging market trends with agility. Moreover, the integration of analytics-driven solutions cultivates a responsive manufacturing ecosystem capable of adapting to evolving regulatory frameworks, sustainability imperatives, and geopolitical dynamics.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Component
Software
Service
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By Application
Predictive Maintenance
Budget Monitoring
Product Lifecycle Management
Field Activity Management
Others
By Deployment Mode
Cloud
On-premise
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Table of Contents
- Market Summary
- Economic Impact Competition Analysis by Players
- Production, Revenue (Value) by geographical segmentation
- Market Size by Type and Application
- Regional Market Status and Outlook
- Market Analysis and Outlook
- Market Forecast by Region, Type, and Application
- Cost Investigation, Market Dynamics
- Marketing Strategy comprehension, Distributors and Traders
- Market Effect Factor Analysis
- Research Finding/ Conclusion
- Appendix
– Continue……
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The report addresses several critical inquiries:
- What are the primary drivers fueling market growth?
- What challenges and constraints are affecting the market?
- What opportunities are emerging within the market?
- What potential threats and risks could impact the market?
- What is the current market size and its growth rate?
- What are the market segments and their respective sizes?
- Which region(s) are expected to witness the highest growth and market share?
- What geographical variables are influencing the market?
- Who are the key market players and how do they rank?
- What recent partnerships, product/service launches, expansions, or acquisitions have occurred among the profiled companies?
- What are the comprehensive profiles of the top market players, including their business overview, insights, product benchmarking, and SWOT analysis?
- What is the current market outlook, considering recent changes and potential growth opportunities?
- What are the drivers, obstacles, and limitations in both developing and emerging regions?
- How does the market analysis leverage Porter’s five forces analysis?
- How does the Value Chain concept offer insights into market dynamics?
Why Purchasing the Market for the Following Reasons:
- Investigating emerging market trends and their potential impact on expansion.
- Discussing factors, challenges, and opportunities affecting the global industry significantly.
- Analyzing technological advancements and benchmarks indicative of the industry’s projected growth.
- Conducting a thorough examination of market statistics, historical data, and current growth conditions to offer futuristic growth estimates.
Highlights of the Market Report:
- Comprehensive overview of the market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Humanoid Robot market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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