Report ID: SQMIG45A2187
Report ID:
SQMIG45A2187 |
Region:
Global |
Published Date: October, 2024
Pages:
264
|
Tables:
90 |
Figures:
76
As per the big data in manufacturing industry market outlook, North America is estimated to contribute 45% to the growth of the market during the forecast period. One of the main factors that are significantly contributing to the growth of the market in North America is that the region is a significant hub for manufacturing innovation and technology adoption. Several manufacturers in North America are encouraging digital transformation to remain competitive. Additionally, big data analytics play a crucial role in the modernization of operations, optimizing supply chains, and enhancing overall efficiency. Furthermore, there is a significant generation of data by several manufacturing processes in North America from various sources including IoT sensors, machinery, production lines, and other sources.
Asia Pacific region is anticipated to grow in terms of CAGR during the forecast period. Many regulatory bodies of the Asia Pacific countries are taking initiatives to deploy advanced technology solutions in the industry. In India, manufacturing has emerged as a high growth sector and is expected to support in growth of the country in the coming years. This growth of the industry in India is likely due to the rising focus of government towards the manufacturing sector along with increasing investments in manufacturing. For instance, the Make in India program initiated by the government of India as well as strategic partnerships are expected to increase the development of the manufacturing sector soon. Furthermore, in China, “Made in China 2025” initiative is anticipated to boost the development of the Chinese manufacturing sector in the coming years.
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Report ID: SQMIG45A2187