Big data in manufacturing: Key market research findings
- Emergence of cloud-based solutions
- Increased adoption of IoT
Technavio has released a new market research report on the global big data in the manufacturing sector, which is expected to grow at a CAGR of 17% between 2016 and 2020. Big data solutions in the manufacturing sector provide a faster consolidated view of organization-wide information. Organizations in the manufacturing sector need big data analytics to automatically track the performance and behavior of the information stored in their IT systems. Big data solutions help in identifying the risks and opportunities, enabling organizations to plan and perform accordingly. The Americas is the largest market for big data in the manufacturing sector, occupying around 46% of the total market revenue. Big data in the manufacturing sector is gaining prominence in Brazil, Mexico, and Argentina for better visibility and improvement of the manufacturing processes.
Major benefits of big data in manufacturing
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Cloud computing is one of the latest trends in the big data market in the manufacturing segment. The cloud-based solutions increase organizational efficiency and reduce the cost of deploying valuable big data solutions. The cloud computing technology enables organizations to access this information at any time and from any location. Moreover, the exponential growth of enterprise data has necessitated the application of cloud-based solutions,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research
IoT uses technologies such as radio-frequency identification (RFID), sensors, barcodes, and global positioning system (GPS). These technologies can be used to monitor and manage the physical assets in an organization. For instance, RFID-tagged goods are easier to track in supply chain of manufacturing and retail companies. Enterprises are witnessing significant improvement in their business processes with the help of IoT as it is helps them monitor and control their business processes closely, thus leading to more effective decision-making in real-time.
The key vendors in the global big data in the manufacturing sector are EMC, IBM, HP, and Oracle Large vendors dominate the market due to their widespread operations and established customer bases. They are acquiring small vendors to expand their product portfolios and boost their market shares. Several vendors are entering the market and providing solutions to meet the global demand.
A more detailed analysis is available in the Technavio report, Global Big Data in the Manufacturing Sector 2016-2020.
We can customize reports by other regions and specific segments upon request.
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