Big Data in Manufacturing Industry Size, Share & Industry Analysis, By Offering (Solution and Services), By Deployment (On Premise, Cloud-based and Hybrid), By Application (Customer Analytics, Operational Analytics, Quality Assessment, Supply chain management, Production Management, and Others) and Regional Forecast, 2019 - 2032

The global big data in manufacturing industry size was valued at USD 3.22 billion in 2018 and is projected to reach USD 21.51 billion by 2032, exhibiting a CAGR of 12.6% during the forecast period. Europe dominated the Big Data in Manufacturing Industry with a market share of 26.70% in 2018.

With the rapidly changing business environment and advancements in technology, manufacturers are investing in automation of manufacturing operations. In addition, manufacturers are focusing on increasing productivity and lowering the costs by deploying advanced technologies such as big data, artificial intelligence (AI), and the internet of things (IoT), among others. Big data technology is supporting the manufacturing industry to improve production process and help to extract data from various devices to improve production, quality, automated operational workflow, and reduce maintenance costs.

Big data analytics software helps to analyze risk patterns, maintain workflows, improve the quality of the processes, production, and others. Big data solutions analyze, collect, and monitor a large volume of unstructured and structured data generated from a variety of sources such as production unit, product quality, factory floor, etc. Big data technology helps to uncover newer trends and patterns and provides actionable insights to businesses. Furthermore, big data is becoming one of the important elements in the manufacturing industry, as it is playing a major role in the fourth generation of enterprise resource planning (ERP) systems. ERP technology is supporting to transform outdated manufacturing facilities into highly automated and efficient powerhouses. The big data technology is set to create a new era for manufacturing as it possesses the ability to engage the process, data, and people. Rising technological advancements is expected to augur well for the big data in manufacturing industry.

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In the manufacturing industry, data is being collected from the traditional maintenance survey-based process or with the help of advanced technology devices such as sensors, RFID, etc. This collected data helps to track resources and analyze the generated data (such as captured machine readings, supply chain management, etc.) through sensors and other devices. Due to the huge database required to collect, maintain, and analyze the large amount of the data generated by these devices, big data help manufacturers to track and analyze production process, risk, quality, and other parameters of the operations. Moreover, big data is helping the manufacturing industry to attain full automation of the operations. Further, in the expansion of the internet of things and advancement in connectivity technologies, big data is offering an opportunity for a new breed of intelligent manufacturing technology.

MARKET DRIVERS

“Optimizing Supply chain management and Production Process is likely to Drive Market”

With the rising adoption of interconnected environment, supply chain management in manufacturing operations is becoming more complex and time-consuming. To optimize the supply chain and streamline its operations, there is a need to examine the process at a granular level. Big data technology provides manufacturers the ability to track, trace, analyze, and streamline the entire supply chain process. Furthermore, the supply chain can be considered more vital for the manufacturers than the production process, as it can result in losses due to inefficiencies in the operations. Big data support manufacturers in understanding the processes and errors associated with it to complete a task or operation. Considering this, the big data in manufacturing industry is likely to expand in the forthcoming years.

Further, in supply chain management, big data has helped some of the companies to overcome the issues and complete the process. For instance, with the help of big data technology, John Deere (Deere & Company) was able to save USD 900 million in inventory control over a period of two years. Also, the Coca-Cola Company was able to save around USD 45 million annually by following big data analysis for vehicle routing systems. Such significant developments will help the big data in manufacturing industry flourish by 2026.

 “Rising Adoption of Automation in Manufacturing Industry will Facilitate Market Growth ”

The current industrial revolution aims to supports industry to offer advanced platform to improve existing procedures with an automated process. Owing to the rising adoption of automated services and government initiatives towards the deployment of advanced automation technologies in the manufacturing, thereby boosting the big data in manufacturing industry. These automated services are anticipated to create vast opportunities for the big data market. In addition to this, trending technologies such as machine-to-machine (M2M) communication, big data, IoT, and machine learning are collectively expected to drive unprecedented effectiveness, productivity, and performance levels in the manufacturing operations. The manufacturing industry is also increasing investment for business analytics solutions and big data across professional services, process manufacturing, discrete manufacturing and others. Furthermore, robotic process automation (RPA) technologies are cost-effective and able to digitize manual processes in the industry along with creating valuable process data. RPA with data analytics tools offers the ability to predict process changes, workflows as well as identify process improvement and optimization opportunities. The increasing adoption of advanced technologies in the manufacturing industry will drive the big data in manufacturing industry growth in the near future.

SEGMENTATION

By Offering Analysis

 “Rising Demand for Big Data Solutions in Manufacturing Industry Aid to Boost the Market Growth”

Based on the offering, the market is classified into solutions and services. In the global big data in manufacturing industry, the solutions segment is expected to grow with the highest CAGR in the coming year. Big data solution provides a platform to analyze the large volume of structured and unstructured data gathered from different sources such as IoT devices, sensors, social networks, and among others. Big data solutions support the manufacturing industry to improvise end-to-end supply chain visibility as well as accelerate information sharing and decision making with the help of cognitive technology. Moreover, predictive analytics is also used for more accurate requirements, forecasts, and reduce buffer inventory. Further, big data analytics in manufacturing help manufacturers to reduced labor-intensive workload, improve operational visibility and gain profound analytics by establishing a single source for all inventory data and reports.

By Deployment Analysis

“Cloud Offerings is Projected to Exhibit a Healthy CAGR during the Forecast Period”

The report focusses on several big data in manufacturing industry trends covering deployment solutions that include on premise, cloud-based, and hybrid solutions. Rising adoption of cloud-based software solutions among the organizations is expected to create lucrative market opportunities for big data solution providers in the coming years. Cloud-based big data analytics in manufacturing operations also help to process and analyze the database to improve the production process and inventory management in the manufacturing industry.

Cloud-based big data solutions help organizations gain an in-depth understanding of the improvements, trends, and preferences. This understanding is utilized for effective and efficient supply chain management and operational decisions based on analytical outputs.

By Applications Analysis

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“Operational Analytics and Quality Assessment Application to Account for the Highest Market Share”

Based on application, the market is bifurcated into customer analytics, operational analytics, quality assessment, supply chain management, production management, and others. In the manufacturing industry, there is a continuous requirement to maintain the quality of the product and manage the operations. Big data technology helps in analyzing the operational activity, errors, and product quality assessment. Among the applications covered in the scope of the study, in 2018, operational analytics covered a majority of the big data in manufacturing market revenue in the market. Further, the supply chain management segment is expected to experience significant growth during the forecast period. In supply chain management, big data solutions have enabled several companies to reduce working capital and logistics costs, which has led to the growing adoption of big data technology in the manufacturing industry. Rising demand for such applications across the world is expected to spur growth opportunities for the big data in manufacturing industry.

REGIONAL ANALYSIS

Under the scope of the study, the regional segment is divided into five major regions including North America, Asia Pacific (APAC), Europe, Middle East & Africa, and Latin America. North America is estimated to capture the highest big data in manufacturing market share during the forecast period. North America generated a notable revenue in the global market in 2018. This growth is due to rising development and initiative in the U.S. and Canada manufacturing industry.

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APAC big data in manufacturing industry is anticipated to grow in terms of CAGR during the forecast period. Many regulatory bodies of the Asia Pacific countries are taking initiatives to deploy advanced technology solutions in the manufacturing industry. In India, manufacturing has emerged as a high growth sector and is expected to support in growth of the country in the coming years. This growth of the manufacturing industry in India is likely due to the rising focus of government towards the manufacturing sector along with increasing investments in manufacturing. For instance, the Make in India program initiated by the government of India as well as strategic partnerships are expected to increase the development of the manufacturing sector in the near future. Furthermore, in China, “Made in China 2025” initiative is anticipated to boost the development of the Chinese manufacturing sector in the coming years.

Besides this, Latin America and Middle East & Africa regions are projected to grow at a steady CAGR rate during the forecast period. For the initial years (2015 - 2018) growth for Latin America and MEA is slow, it will grow at a steady rate during the forecast period (2019- 2026). This growth is primarily attributable to rising government initiatives and the entry of emerging players as well as the presence of established players in Latin America and MEA. Furthermore, Brazil has taken the initiative towards the implementation of Industry 4.0, which in turn, is shaping up the big data in manufacturing industry. Several companies have also started implementing advanced technologies for smart connected networks, digitalization, automated process and among others in Brazil.

Whereas in Europe, the market trend is significantly driven by increasing expansion undertakings by major companies in developed countries such as the U.K., Germany, France, and others. Scandinavia is also playing a major role in big data technology for the manufacturing sector and investing in automation of manufacturing operations. Among the Scandinavian countries, Sweden has a strong presence of manufacturing units which also contributes a major percentage in the country's GDP growth. Additionally, the Swedish government has launched a strategy for smart industrialization in 2016, which emphasizes automation of the manufacturing operations and adoption of advanced industrial equipment & and machinery among others. The market in Europe is expected to rise at a substantial rate owing to the rising demand for big data across manufacturing industries, including automotive, discrete manufacturing, and industrial purposes.

KEY INDUSTRY PLAYERS

“Major Players including IBM Corporation, Microsoft Corporation, Fair Isaac Corporation, and Accenture are Aiming towards Enhancing Their Big Data Business Unit”

Some of the key players in the big data in manufacturing industry are SAS Institute Inc., IBM Corporation, Tibco Software Inc., SAP SE, Oracle Corporation, Accenture Plc., Microsoft Corporation, and others. These companies have covered a majority of the share in the market. Moreover, big data solutions providers are also investing in innovative technologies to provide advanced solutions and services to their customers. The players operating in the big data in manufacturing industry are also acquiring start-ups working on analytics to strengthen their product capabilities.

Further, prominent players are introducing advance platforms for big data analytics in manufacturing industry specific to the shop floor, factory automation, supply chain management, and others which is expected to supplement the demand for big data solutions in manufacturing industry.

LIST OF KEY COMPANIES PROFILED:

• Accenture Plc.


• Alteryx, Inc.


• Angoss Software Corporation


• Fair Isaac Corporation


• IBM Corporation


• Microsoft Corporation


• Oracle Corporation


• SAP SE


• SAS Institute, Inc.


• Tibco Software, Inc. (Alpine Data)

REPORT COVERAGE

An Infographic Representation of Big Data in Manufacturing Industry

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The report offers an elaborative analysis of numerous factors affecting the global big data in manufacturing industry. These include opportunities, growth drivers, threats, key developments, and restraints. In addition to this, it further helps in analysing, segmenting, and defining the market based on different segments such as by offering, deployment and application. It strategically analyses several strategies such as product innovations, mergers, alliances, joint ventures, and acquisitions adopted by players in the industry.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT:

• June 2016 – Accenture Plc. launched seven advanced analytics applications, which will support in detecting fraud, and it was designed for banking, government agencies, manufacturing, and telecommunication companies.


• January 2018 – Datawatch Corporation acquired Angoss Software Corporation to expand the product portfolio to offer extensive predictive and prescriptive analytics for every application and it will help a business to discover valuable insights.