Big Data Analytics in Manufacturing Market Size Forecasted to be Worth USD 11.03 Billion by 2028

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According to a recent analysis, the global big data analytics in manufacturing market is expected to reach a USD 11.03 Billion from USD 1.11 Billion in 2020, delivering a growth rate of 33.1% through 2028. Extensive application of big data analytics in manufacturing industry for demand forecasting is one of the key factors stimulating market growth.

Increasing focus on adoption of solutions to reduce downtime is favoring the growth of the global big data analytics in manufacturing market. In addition, surging demand for faster integration of automation will offer lucrative opportunities the big data analytics in manufacturing market growth through 2028. However, high cost associated with big data analytics may restraint market growth to a certain extent.

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Key Highlights of Report

• Based on component, the software segment is expected to observe a growth rate of 33.2% during the analysis period. The segmental growth can be attributed to the extensive adoption of big data analytics software for business performance measurement and production forecasting.
• Based on deployment, the cloud-based segment is forecast to lead the global big data analytics in manufacturing market in terms of revenue share over the analysis period. The robust growth can be attributed to the increasing implementation of cloud technology in manufacturing industry.
• Based on application, the predictive maintenance segment is expected to gain traction through 2028 on account of increasing need to reduce the number of failures during production processes.
• In the regional landscape, North America is forecast to be a major revenue contributor to the global big data analytics in manufacturing market owing to robust presence of domestic and international market players such as IBM Corporation, Microsoft Corporation, Oracle Corporation, SAS Institute Inc., and others in region.
• Key participants in the market include International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, TIBCO Software Inc., Fair Isaac Corporation, Alteryx Inc., Angoss Software Corporation, and MicroStrategy Incorporated, among others.
• In January 2021, International Business Machines Corporation acquired Taos Mountain, Inc., an information technology service providing company. Through this acquisition, International Business Machines Corporation will enhance hybrid cloud consultancy expertise to aid companies shift solutions and data online.

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)
  • Solution
  • Service
• Deployment Outlook (Revenue, USD Billion; 2021–2028)
  • On-Premises
  • Cloud-Based
• 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)
  • Others
• Regional Outlook (Revenue, USD Billion; 2021–2028)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/big-data-analytics-in-manufacturing-market