The global big data in manufacturing Industry size is projected to reach USD 9.11 billion by the end of 2026. Applications of the concept across diverse industries will have a positive impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Big Data in Manufacturing Industry Size, Share & Industry Analysis, By Offering (Solution and Services), By Deployment (On-Premise, Cloud and Hybrid), By Application (Customer Analytics, Operational Analytics, Quality Assessment, Supply chain management, Production Management, and Others) and Regional Forecast, 2019 – 2026,” the market was worth USD 3.22 billion in 2018 and will exhibit a CAGR of 14.0% during the forecast period, 2019-2026.
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Big data is a collection of huge complex data sets of unstructured data through means of data sources such as IoT among others. The applications of big data in the manufacturing industry have created several growth opportunities for the companies operating in the market. Big data help users explore the untapped potential across various industries, including manufacturing, healthcare, ICT, automotive, and food and beverages. The role of big data in enterprise resource planning (ERP) will fuel the demand for the product in the forthcoming years. The use of automated concepts has allowed higher product efficacies. Improving product efficacies will have a direct impact on the growth of the market in the coming years.
The report provides an in-depth analysis of the global big data in manufacturing industry. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. It highlights the latest product launches and labels major innovations in the market. In addition to this, it states the impact of these products on the growth of the market. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
IBM, Microsoft, and Accenture are Among the Leading Companies in the Market
Due to the high potential held by the market, several companies are looking to invest more towards incorporating advanced concepts in manufacturing. A few of the other companies that are operating in the global big data in manufacturing market are:
- Alteryx, Inc.
- Angoss Software Corporation
- Fair Isaac Corporation
- Oracle Corporation
- SAP SE
- SAS Institute, Inc.
- Tibco Software, Inc. (Alpine Data)
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North America to Account for the Highest Market Share; Rapid Advances in Manufacturing Industry to Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, North America is projected to account for the highest big data in manufacturing Industry share in the coming years. Rapid advancements in the manufacturing industry in the U.S. and Canada will aid the growth of the market in this region. Besides North America, the market in Europe will witness considerable growth in the coming years driven by the presence of large manufacturing units in several countries across this region. As of 2018, the market in Europe was worth USD 0.86 billion and this value is projected to grow at a rapid pace.
- June 2016 – Accenture Plc. announced the launch of seven advanced analytics applications, each of which will help detect frauds across diverse industries including banking, government agencies, manufacturing, and telecommunication.
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