Big data in Manufacturing Industry Market is anticipated to rise at a value CAGR of 22% over 2019-2028. According to a study published by Insure Insights on the Big data in Manufacturing Industry Market. Big data by the name indicates it consists of a large data, Big Data in Manufacturing includes the data that is collected at every stage of production, it includes data from machines, devices, and operators. This form of data can be either structured or unstructured. The rise in the need and demand for Big data in various manufacturing units have driven the market growth.
Top Driver: The rise in demand for Big data Manufacturing in the supply chain activities are driving the market growth
The rise in supply chain management activities in the manufacturing unit has primarily boosted the market. Big data helps in tracking, analyzing, tracing the entire supply chain process, and the supply chain is considered as one of the most important activities in manufacturing processes, and thus have boosted the market revenue. Big data also helps in understanding and minimizing the errors caused by any task or operation and therefore has further enhanced its demand in the market
Solutions segment in the Offering analysis have dominated the market growth the Big data in Manufacturing Industry Market
In terms of the Offering analysis segment, the Solutions has obtained the highest growth, Big data as a solution helps in the analysis of the large volume of structured and unstructured data that is gathered together by IoT devices social networks, etc., They also support the manufacturing industry by improving end to end supply chain visibility and have further accelerated the information sharing and decision making with the help of cognitive technologies and thus have boosted the market growth.
Based on the Deployment segment, Cloud-based deployment has obtained the most significant growth due to the rise in the use of cloud-based software and solutions in big data analytics. Moreover, the Cloud-based big data analytics in manufacturing operations have also assisted in the process and analysis of the databases so as to improve the production process and inventory management in the manufacturing companies. Based on the End-user segment, IT and telecommunication have obtained the most remarkable growth as it helps in increasing the profitability by helping optimize network usage and services, and hence enhance customer experience, and is boosting the overall market
North America to Rule the Global Big data in Manufacturing Industry Market owing to use of Big data analytics in manufacturing
The adoption of big data analytics in the manufacturing sector and the rise in the growth in the development and initiatives taken by countries like the U.S and Canada in the manufacturing industry are primarily driving the market revenue of the region. Technological advances in the region for big data analytics and favorable government initiatives have escalated the growth of the regional market. Asia Pacific region is expected to rise at a higher rate in the forecast period
Strategic collaborations, Mergers, Partnerships are the major strategies of the competitors
The competitors of the Big data in Manufacturing Industry Market are fragmented. The competitors focus on Mergers, collaborations, Partnerships; these are the strategies used by them for the overall growth. The key competitors of the Big data in Manufacturing Industry Market are Accenture, Alteryx, Fair Isaac Corporation, IBM Corporation, Microsoft, Oracle, SAP SE, SAS Institute, INC., Tibco Software, Inc., and Angoss Software Corporation
Alteryx: Alteryx, Inc is a giant competitor of the Big data in Manufacturing Industry Market; for instance, in October 2019, Alteryx, had announced the acquisition of Feature Labs. It is a data science software company that automates feature engineering for machine learning and artificial intelligence (AI) applications. This acquisition was made by Alteryx, to strengthen its product portfolio.
SAP SE: SAP SE was one of the Key Competitors of the Big data in Manufacturing Industry Market in November 2018, SAP SE had announced the acquisition of Qualtrics International Inc. The deal was done for USD 8 billion. This acquisition as made by SAP SE to strengthen their business.
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By Offering Analysis
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