Global Big Data In Manufacturing Industry Market

Big Data in Manufacturing Industry Market Size, Share, Growth Analysis, By Offering (Solutions, and Services), By Deployment mode (On-premises, Cloud, and Hybrid), By Application (Customer Analytics, Operational Analytics, Quality Assessment, Supply Chain Management, Production Management, and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45A2187 | Region: Global | Published Date: April, 2024
Pages: 264 | Tables: 90 | Figures: 76

Big Data In Manufacturing Industry Market Insights

Global Big Data in Manufacturing Industry Market size was valued at around USD 5.1 billion in 2022 and is expected to rise from USD 5.8 billion in 2023 to reach a value of USD 14.8 billion by 2031, at a CAGR of 12.5% over the forecast period (2024–2031).

Big data analytics is a framework for accumulating a lot of data for trend analysis and data mining. The industrialization has advanced quickly over time, and manufacturing output has been rising steadily. As a result, the manufacturing sector's enormous change in data generation is driving the global Big Data in Manufacturing Industry Market for big data analytics in this sector.

The idea of a "smart industry," where data creation and visualization occur in real-time, is being aggressively adopted by industries. The industry is now aware of the advantages that may be gained from this data volume thanks to the progression of analytics from descriptive to predictive analytics. The industrial sector is transitioning to a metrics-based industry, which can enhance decisions made using data.

Strong processing power is needed at the edge of networks due to the rise in connected devices, industrial digitalization, and the need to satisfy rising workplace demands for simple and efficient operations. Furthermore, IT teams require flexibility, consistency, and quick provisioning of both on-premises and cloud-based apps. By automating and monitoring network configuration, automatically identifying devices on the network, and troubleshooting network faults, big data in manufacturing industry systems can achieve these objectives. Big data, artificial intelligence, and machine learning are used in more advanced big data in the manufacturing industry to configure and manage networks. In addition to this, there are many open-source initiatives devoted to creating norms for virtualization-based big data in the manufacturing industry.

Despite optimistic Big Data analytics outcomes, the manufacturing sector has not yet fully tapped into the technology's potential. Big Data analytics in the manufacturing sector now have a lot of room to grow in the future. According to estimates, the manufacturing sector has varied efficiency among verticals that are similar and has a variety of factors at play. For instance, an automaker might work with a large number of suppliers and vendors to get the various parts needed to put a car together.

US Big Data In Manufacturing Industry is poised to grow at a sustainable CAGR for the next forecast year.

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Global Big Data in Manufacturing Industry Market size was valued at around USD 5.1 billion in 2022 and is expected to rise from USD 5.8 billion in 2023 to reach a value of USD 14.8 billion by 2031, at a CAGR of 12.5% over the forecast period (2024–2031).

Global big data in manufacturing industry market is has some major and medium size enterprises, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability. 'IBM Corporation ', 'Intel Corporation ', 'Microsoft Corporation ', 'Oracle Corporation ', 'SAP SE ', 'Cisco Systems, Inc. ', 'Hewlett Packard Enterprise ', 'Siemens AG ', 'Dell Technologies ', 'Hitachi, Ltd. ', 'Fujitsu Limited ', 'PTC, Inc. ', 'Teradata Corporation ', 'Cloudera, Inc. ', 'Alteryx, Inc. ', 'Splunk Inc. ', 'RapidMiner, Inc. ', 'TIBCO Software Inc. ', 'Accenture Plc ', 'SAS Institute, Inc.'

Increased internet usage, such as the increasing popularity of social media and the advent of virtual online offices, could boost the market growth. The World Wide Web is widely used because of the numerous benefits it provides, such as boundless communication, easy sharing, plentiful resources and information, and online services that generate massive amounts of data in daily life. Other reasons contributing to the rise of the big data business include increased organizational awareness of IoT devices, increased demand for cloud big data technologies, increased demand for big data tools, increased government investments to advance digital technologies, and increased data accessibility across organizations for getting deeper insights and remaining competitive.

The market for manufacturing analytics has been exposed to various competitions and energy and raw material supply challenges. The operational expenses are also included. As a result, they are searching for methods to cut costs and create businesses that can quickly and efficiently deliver the appropriate level of quality to customers. Along with advancements and improvements in the automation and connectivity fields, the application of smart industrial solutions is expanding significantly.

In 2021, Asia Pacific held the largest global big data in manufacturing industry market share. The manufacturing industry in the Asia-Pacific is undergoing a shift as smart manufacturing gains traction in local corporate operations. This is especially true for nations like China, India, South Korea, and Japan, which serve as the primary manufacturing centers in the area and are therefore major big data analytics adopters.

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Global Big Data In Manufacturing Industry Market

Report ID: SQMIG45A2187

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