The Global Big Data Analytics in Manufacturing Market is expected to be valued at USD 11.03 Billion in 2028 from USD 1.11 Billion in 2020, registering a CAGR of 33.1% through the forecast period. The augmenting application of big data analytics in the manufacturing and production sector and the rapidly accelerating automation in the sector are the primary factors driving the industry’s growth. Moreover, the growing need for asset optimization solutions and services is further projected to fuel the industry’s expansion.
The augmenting requirement to decrease the downtime in the manufacturing sector is further adding traction to the market growth. The escalating requirement for accelerated integration of automation is forecast to boost the industry’s expansion in the projected timeframe. However, the high costs linked with the implementation of big data analytics and the escalating concerns surrounding the growing incidences of data breaches of the big data analytics solutions are estimated to impede the growth of the market on a global scale in the forthcoming years.
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Key Highlights from the Report:
- The solution segment is foreseen to register the highest CAGR in the projected timeframe owing to the surging incorporation of the big data analytics software for production estimations and measurement of business performance. The segment is predicted to proliferate at a CAGR of 33.2% over the estimated period.
- The cloud-based segment is projected to lead the market growth, contributing significantly to revenue generation. The growth can be accredited to the augmenting implementation of cloud technology in the manufacturing and production market.
- The Predictive Maintenance segment is projected to account for a significant market share in the coming years owing to the growing requirement for the reduction in the frequency of failures in the manufacturing and production process.
- The North American market is estimated to exhibit robust growth during the projected timeline owing to the strong and widespread presence of key manufacturers of the market such as IBM, Microsoft, Corporation, and Oracle Corporation, among others.
- The Asia Pacific and European markets are projected to record significant growth during the estimated timeline owing to the rapidly accelerating expansion of the manufacturing industry in the regions.
- Key players of the industry include Microsoft Corporation, Angoss Software Corporation, Oracle Corporation, SAS Institute Inc., TIBCO Software Inc., International Business Machines Corporation, Alteryx Inc., MicroStrategy Incorporated, Fair Isaac Corporation, and SAP SE.
- International Business Machines Corporation gained a controlling stake in Toas Mountain, Inc., in January 2021. Under the acquisition agreement, IBM will augment its hybrid cloud consultancy expertise to assist the companies in transitioning their businesses and data solutions to an online mode.
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For the purpose of this report, Emergen Research has segmented the Global Big Data Analytics in Manufacturing Market on the basis of component, deployment, application, and region:
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)
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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