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

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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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