USD 576.47 billion
Big Data In Manufacturing Industry Market Size, Share, Growth Analysis, By Offering(Solutions, Services), By Deployment mode(On-Premise, Cloud, Hybrid), By Application(Customer Analytics, Operational Analytics, Quality Assessment, Supply Chain Management), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2187 |
Region:
Global |
Published Date: October, 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.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
26.7% CAGR
Global Big Data In Manufacturing Industry Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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Big Data In Manufacturing Industry Market Segmental Analysis
Global Big Data in Manufacturing Industry Market is segmented by Offering, Deployment Mode, Application, and region. Based on Offering, the market is segmented into Solutions, and Services. Based on Deployment Mode, the market is segmented into On-premises, Cloud, and Hybrid. Based on Application the market is segmented into Customer Analytics, Operational Analytics, Quality Assessment, Supply Chain Management, Production Management, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Big Data in Manufacturing Industry Analysis by Type
Based on the Type, the global big data in manufacturing industry market is segmented into Software and Services. For the global manufacturing analytics Big Data in Manufacturing Industry Market to recover and overcome the effects of the imposed recession, a variety of services are needed. The segment of software has acquired the larger share from both of these due to the growing use of big data analytics tools for production forecasting and measuring business success. Due to the growing need for consulting to choose the best analytics platform, architecture evaluation, and prototyping, the service segment is anticipated to have stable growth in terms of revenue throughout the course of the forecast period.
Big Data in Manufacturing Industry Analysis by Deployment Type
Based on the Deployment type the big data in manufacturing industry market is segmented as, On-premises, Cloud based. Because of the increasing adoption of cloud technology in the manufacturing industry, the cloud-based category is likely to lead the global big data in the manufacturing market in terms of revenue contribution during the forecast period. Additionally, the growing use of cloud-based big data analytics software for easy data sharing is anticipated to further fuel market expansion over the course of the projected year. Providing the necessary help in all manufacturing sectors around the world is referred to as deployment. When analyzing the market's bifurcation for deployment, the region is crucial.
Big Data in Manufacturing Industry Analysis by Application
On the basis of Application, the Global Big data in manufacturing industry market is segmented as Predictive asset management, Inventory management, supply chain analysis, Power, and Energy. Each of these contributes in a distinctive and special way to the world's industrial sectors. In terms of revenue contribution to the global big data analytics in the manufacturing market, predictive maintenance is expected to perform better than other application segments throughout the forecast period. This is due to the growing need to reduce the number of failures that occur during production, as any system or machinery malfunction could result in supply chain disruptions. Due to the manufacturing sector's growing need to optimise supply chains, the supply chain management segment is anticipated to experience significant revenue growth during the projection period.
Global Big Data In Manufacturing Industry Market By Type , 2021(%)
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Big Data In Manufacturing Industry Market Regional Insights
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.
Given the wide variations in government policies, infrastructure, technical skills, and research and development (R&D) spending, the level of technological innovation among industrial facilities in the expanding Asia-Pacific area remains unequal.
In the upcoming years, North America is anticipated to hold the largest Big Data in Manufacturing Industry Market share for big data in the manufacturing sector. The manufacturing sectors in the US and Canada are developing quickly, which will help the market expand in this area. In addition to North America, the market in Europe will experience significant growth over the next few years due to the presence of large manufacturing facilities in a number of the countries in this region.
Global Big Data In Manufacturing Industry Market By Geography, 2021 - 2028
- Largest
- Fastest
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Big Data In Manufacturing Industry Market Dynamics
Big Data in Manufacturing Industry Driver
Increased Internet Penetration Will Boost the Market Growth
- 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.
Growing Enterprise Adoption to Provide Robust Opportunities
- The increasing adoption of big data across organizations is expected to provide major stakeholders with numerous opportunities. This technology is getting much-needed traction since it aids in the collecting and analysis of massive amounts of data that various businesses and governments deal with on a regular basis. This enables organizations to develop and upgrade their IT infrastructure, which is expected to increase market opportunities in the future, according to big data industry projections.
Big Data in Manufacturing Industry Restraint
Concerns About Privacy and Security Will Act as Market Restraints
- Growing privacy and information security concerns may limit market expansion during the projected period. Users keep sensitive information and data on big data platforms related with their commercial activity. However, there are potential weaknesses and liabilities in managing and storing the papers. As the popularity grows, so do security concerns about data loss, application vulnerabilities, unforeseen situations, and data breaches.
- To keep and maintain international standards, there is a requirement for legacy control system upgrades and modernization. Some of the significant constraints are the ongoing need for investment and capital, new talents, and adequate data security. These temporary constraints and problems can be overcome with improved technology and large investments.
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Big Data In Manufacturing Industry Market Competitive Landscape
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.
Big Data in Manufacturing Industry Top Player's Company Profiles
- 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.
Big Data in Manufacturing Industry Recent Developments
- In July 2022, Oracle Corporation officially completed the acquisition of Cerner, a major supplier of health information systems. Cerner is one of the oldest companies to develop electronic medical records, offering systems that handle the data storage chores for doctors’ offices, clinics and hospitals.
- In June 2022, IBM plans to acquire Randori. RSA Conference is underway. Booz Allen Hamilton awarded NASA contract.
Big Data In Manufacturing Industry Key Market Trends
- 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.
- The fundamental principle of what has come to be known as Industry 4.0 is condition monitoring, or the act of continuously monitoring an asset's state, primarily using real-time data points. Within the IoT ecosystem, supplying data for Predictive Maintenance (PdM) and smart industrial applications like Digital Twin is a crucial component of condition monitoring. The way that machine maintenance is done is changing thanks to the development of new methods for assessing the condition of bearings and gear. The present generation of maintenance professionals are challenged by low-cost mass production, and they turn to condition monitoring to flourish in this highly competitive environment.
Big Data In Manufacturing Industry Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Big Data In Manufacturing Industry Market Analysis, In 2021, the North America region led the global Big data in manufacturing industry market. The growth is attributed to the broad adoption of cutting-edge technologies like DevOps, SD-WAN, and intent-based networking. The market has grown as a result of the rising demand for deep learning AI algorithms for remotely controlling network equipment and growing investments in 5G projects. These algorithms assist market participants in providing improved automation technologies to their end consumers, such as image processing and speech recognition. According to the segmental analysis, the segment of On-premises segment acquired a larger share due to its offerings like annual service agreement and one-time license fee, which includes free installation and up-gradation of new functionalities. According to application, Telecom service providers were able to deploy more virtualization in their networks as a result of the growing adoption of NFV technologies.
| Report Metric | Details |
|---|---|
| Market size value in Manufacturing | USD 5.1 billion |
| Market size value in 2031 | USD 14.8 billion |
| Growth Rate | 12.5% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Big Data In Manufacturing Industry Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Big Data In Manufacturing Industry Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Big Data In Manufacturing Industry Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Big Data In Manufacturing Industry Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Big Data In Manufacturing Industry Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Big Data In Manufacturing Industry Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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