Report Title: “Global Big Data Analytics in Manufacturing Industry Market – Segmented by End User, Application (Condition Monitoring, Quality Management, Inventory Management), and Region – Growth, Trends, and Forecast (2018 – 2023)”
Global “Big Data Analytics in Manufacturing Industry Market” is expected to register a CAGR of approximately 38.62% during the forecast period of (2018 – 2023). Also, Big Data Analytics in Manufacturing Industry Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Big Data Analytics in Manufacturing Industry Analysis.
Big Data Analytics in Manufacturing Industry market Report provides a 360-degree overview of the global Big Data Analytics in Manufacturing Industry market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Big Data Analytics in Manufacturing Industry Market Report Covers Leading Manufacturers:Alteryx, Inc., Angoss Software Corporation, Fair Isaac Corporation, IBM Corp., Knime AG, Microsoft Corporation, MicroStrategy Incorporated., Oracle Corporation, RapidMiner, Inc., SAP, SAS Institute Inc., Tibco Software Inc. (Alpine Data)
Get Sample PDF of Report – https://www.360marketupdates.com/enquiry/request-sample/12886340
The global Big Data analytics in manufacturing industry market is expected to register a CAGR of 38.62 %, over the forecast period (2018 – 2023).
It is estimated that the data generated in a day in current global scenario is equivalent to the data generated in last decade. To handle such huge amounts of data, Big Data has often proved to be a useful tool. With the concept of Industry 4.0 shaping the production establishments in the modern manufacturing industry, the amount of data produced from the manufacturing sector grew rapidly.
Many application in the field of semiconductor, pharmaceutical, and automotive industry where manufacturers have to monitor several variables to ensure the quality of end products, Big Data analytics proved to be more fruitful than the traditional methods. Although the results of Big Data analytics are encouraging, the manufacturing industry has not yet realized the complete potential of the technology. This provides good scope to the Big Data analytics in the manufacturing industry to expand in the future.
Evolving Value Chains to Drive Demand in Manufacturing
The manufacturing industry has evolved since the last industrial revolution. Technology has played a critical role in shaping the modern manufacturing industry. With the introduction of Industry 4.0, the production establishments took a step forward and implemented many IoT and IIoT solutions to get live feedback from factories and working environments. With the implementation of Machine to Machine services and telematics solutions in production establishments, the industry has moved from traditional value chain to technology, asset, and engineering-oriented value chain.
This shift forced manufacturers to monitor multiple variables to gain a competitive edge over rivals. This led to the data being generated from the modern manufacturing environments to double in the past four years. Since the traditional applications or software are proving to be obsolete to handle or analyze such large amounts of data, Big Data analytics are becoming more popular in the manufacturing industry. According to a study conducted by Forbes, 89% of business leaders in the world believe that Big Data will revolutionize business operations in the same way the internet did and are pursuing Big Data projects in order to seize a competitive edge.
Condition Monitoring Stands to be Top Priority
Among all the different applications that Big Data analytics is used for in the manufacturing industry, condition monitoring proves to be growing at a faster pace. Before the era of Industry 4.0, the Big Data analytics were more popular with the product quality management applications in the manufacturing industry. However, with pre proven machine efficiencies, industrial standards, and government regulation the modern industrial machinery are estimated to perform to their maximum capacity if they are in good condition.
This is encouraging manufacturing companies, especially in the automotive, energy and metal processing sectors, to invest more on machine condition monitoring applications of Big Data analytics to detect the risk of any potential failure of the machines. According to a recent study conducted by Enterprise Irregulars, a diverse group of practitioners, consultants, investors, and analysts who are specialized in enterprise technology and its application to business, more than 65% of manufacturing enterprises are focused on monitoring assets to identify operating issues. It is estimated that already 58% of the respondents have capabilities to collect operating data and analyzing the data to produce insights, which create huge opportunities for the Big Data analytics in the manufacturing industry market.
Order a Copy Of Big Data Analytics in Manufacturing Industry Market Report –https://www.360marketupdates.com/purchase/12886340
Reasons to Purchase Big Data Analytics in Manufacturing Industry Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
About 360 Market Updates:
360 Market Updates is the credible source for gaining the market reports that will provide you with the lead your business needs. At 360 Market Updates, our objective is providing a platform for many top-notch market research firms worldwide to publish their research reports, as well as helping the decision makers in finding most suitable market research solutions under one roof. Our aim is to provide the best solution that matches the exact customer requirements. This drives us to provide you with custom or syndicated research reports.
Name: Mr. Ajay More
Email: [email protected]
Organization: 360 Market Updates
Phone: +14242530807/+44 203 239 8187
Tagged:- Google News, Big Data Analytics in Manufacturing Industry Market, Big Data Analytics in Manufacturing Industry Europe Market, Big Data Analytics in Manufacturing Industry APAC Market, Big Data Analytics in Manufacturing Industry Market By Application, Big Data Analytics in Manufacturing Industry Market By Rising Trends, Big Data Analytics in Manufacturing Industry Market Development, Big Data Analytics in Manufacturing Industry Market Forecast, Big Data Analytics in Manufacturing Industry Market Future, Big Data Analytics in Manufacturing Industry Market Growth, Big Data Analytics in Manufacturing Industry Market In Key Countries, Big Data Analytics in Manufacturing Industry Market Latest Report, Big Data Analytics in Manufacturing Industry Market Swot Analysis, Big Data Analytics in Manufacturing Industry Market Top Manufacturers, Big Data Analytics in Manufacturing Industry Sales Market, Big Data Analytics in Manufacturing Industry United States Market