Enjoy complimentary customisation on priority with our Enterprise License!
The Big Data in Manufacturing Industry size is estimated to grow at a CAGR of 20.63% between 2022 and 2027. The market size is forecast to increase by USD 10.53 billion. The growth of the market depends on several factors, including the rising adoption of Industry 4.0, the increasing data generation, and the emergence of advanced analytics and AI. Big data refers to extremely large and complex sets of data that cannot be easily managed, processed, or analyzed with traditional data processing tools or methods.
This big data market in the manufacturing sector report extensively covers market segmentation by type (services and solutions), deployment (on-premises, cloud-based, and hybrid), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
One of the key factors driving the big data market in the manufacturing sector growth is the rising adoption of Industry 4.0. Some of the main Industry 4.0 initiatives include the deployment of IoT sensors, connected machines, and smart devices across the manufacturing environment. As a result, it leads to the generation of a huge volume of real-time data, which forms the foundation for big data analytics. The main advantage of Industry 4.0 is that it enables the real-time monitoring of manufacturing processes, equipment performance, and product quality.
Moreover, there is an increasing adoption of big data analytics in order to process this data and offer instant insights for decision-making. Predictive maintenance is one of the key elements of Industry 4.0, where equipment failures are predicted by leveraging data analytics and machine learning, and maintenance is proactively scheduled. Hence, such factors are positively impacting the big data in the manufacturing industry. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the big data market in the manufacturing sector growth is the emergence of AI and machine learning (ML). There is an increasing adoption of AI and ML algorithms to analyze historical equipment data and predict when there is a high chance of failure of machines. The main advantage of this predictive maintenance is that it enables manufacturers to minimize downtime, lower maintenance costs, and extend equipment lifespan.
Moreover, there is a growing adoption of AI-powered image recognition and ML algorithms to recognize defects and anomalies in real time during the manufacturing process. As a result, it helps to improve product quality and minimize waste. Hence, such factors are positively impacting big data in the manufacturing industry. Therefore, it is expected to drive the market growth during the forecast period.
The complexity of big data analytics is one of the key challenges hindering the big data market in the manufacturing sector growth. Big data analytics comprises the processing, analysis, and interpretation of vast and diverse datasets to extract valuable insights. Several manufacturers collect data from various sources such as sensors, machinery, production lines, supply chain systems, and external sources.
However, the integration and consolidation of these data from various sources can be complex. Furthermore, it is essential to have advanced infrastructure and processing capabilities in order to handle these data. Furthermore, inaccurate or incomplete data can result in incorrect conclusions and decisions. Hence, such factors are negatively impacting the big data in the manufacturing industry. Therefore, it is expected to hinder the market growth during the forecast period.
The services segment is estimated to witness significant growth during the forecast period. There is a significant generation of data in the manufacturing sector from various sources including sensors, machines, production lines, and supply chain operations. This availability of data forms the basis of analytics and insights. The main advantage of big data analytics is that it allows manufacturers to identify cost-saving opportunities, optimize resource allocation, and minimize operational inefficiencies, resulting in improved profitability.
Get a glance at the market contribution of various segments View Free PDF Sample
The services segment was the largest segment and was valued at USD 2.17 billion in 2017. In addition, there is an increasing adoption of big data analytics by several manufacturers to predict equipment failures and maintenance needs, reducing downtime and minimizing costly unplanned repairs. Furthermore, the main advantage of using big data analytics is that it enables manufacturers to monitor and control product quality in real-time, minimizing defects, scrap, and rework, which can lead to substantial savings. Factors such as the increasing consumer expectations for product quality, customization, and delivery speed are fuelling the adoption of big data services by manufacturers in order to meet these demands efficiently. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.
The increasing need for data security will fuel the on-premise segment which will increase the market growth during the forecast period. Some of the main factors that are fuelling the adoption of big data solutions by manufacturers include increasing consumer expectations for product quality, customization, and delivery speed. The main advantage of the on-premise segment is that it provides greater control over data security and compliance with industry regulations, addressing data breaches and privacy concerns. Additionally, the main factor that fuels the adoption of this segment is that it enables manufacturers with direct control over their big data infrastructure, allowing customization, and fine-tuning to align with specific production processes and business requirements. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that are significantly contributing to the growth of the big data market in the manufacturing sector 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. As a result, there is an increasing adoption of big data analytics by several manufacturers in order to optimize their supply chains by gaining visibility into inventory, demand forecasts, supplier performance, and logistics, resulting in cost savings and improved efficiency. Hence, such factors are driving the market growth in this region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global big data market in manufacturing witnessed a significant slowdown due to the temporary suspension of manufacturing facilities in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in manufacturing units. Such factors are expected to drive the market during the forecast period.
The big data market in the manufacturing sector report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Big Data Market in the Manufacturing Sector Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd: The company offers big data solutions which is focused mostly on internal structured data and processed occurring cycles in the manufacturing sector.
Cisco Systems Inc: The company offers Cisco big data and analytics solutions that uniquely integrate server, network, and storage resources in the manufacturing sector.
Dell Technologies Inc: The company offers big data services such as Dell EMC Ready solutions for big data in manufacturing sector.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The big data market in the manufacturing sector report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Big Data Market In The Manufacturing Sector Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.63% |
Market growth 2023-2027 |
USD 10.53 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
18.34 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 45% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Alteryx Inc., Cisco Systems Inc., Cloudera Inc., Dell Technologies Inc., Emerson Electric Co., Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., International Business Machines Corp., Oracle Corp., PTC Inc., Rockwell Automation Inc., Salesforce Inc., SAP SE, SAS Institute Inc., Siemens AG, Splunk Inc., Teradata Corp., and Zensar Technologies Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.