| A07576 | Pages: 446 | Sep 2021 | 4952 Views | ||
| Author(s) : Vikas Gaikwad & Kanhaiya Kathoke | Tables: 188 | Charts: 106 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Big Data Analytics In Semiconductor & Electronics Market
Request Now !The global big data analytics in semiconductor & electronics market was valued at $17,134.70 million in 2020, and is projected to reach $42,103.80 million by 2030, registering a CAGR of 9.7%. Big data analytics is a method by which companies examine large set of data for uncovering useful information such as market trends, customer preference, discover hidden patterns, and various unknown facts from the data to enhance their decision-making capability. Furthermore, multiple organizations are adopting big data analytics to enhance their profit, increase their analytics skills, increase & manage yield, and improve the risk management capability. Big data analytics further helps businesses to better understand the information that is important for organizations for fault detection, predictive maintenance, wafer testing, and yield management.
The big data analytics in semiconductor & electronics market has witnessed considerable growth in past few years; however, due to the outbreak of the COVID-19 pandemic, the market is projected to witness a sudden downfall in 2020. This is attributed to implementation of lockdown by governments in majority of the countries and the shutdown of travel across the world to prevent the transmission of virus. This has affected the supply chains of several electronics & semiconductor companies.
In addition, increase in demand for cloud-based big data analytics software among enterprises positively impacts the big data analytics in semiconductor & electronics market growth. However, high implementation cost and dearth of skilled workforce are expected to hamper the market gowth. On the contrary, increase in adoption of IoT devices coupled with the ongoing Industry 4.0 trend, use of big data analytics for semiconductor manufacturing, increase in need to gain better insights for business planning, and surge in adoption of social media analytics tools are expected to offer remunerative opportunities for the expansion of the market during the forecast period.
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Region wise, the big data analytics in semiconductor & electronics market was dominated by Asia-Pacific in 2020, and is expected to retain its position during the big data analytics in semiconductor & electronics market forecast period. This is attributed to surge in demand for digital transformation across numerous end users and increase in convergence of different technologies, such as big data & analytics and artificial intelligence (AI), which have created an impact on the region and managed to increase its IT budget. Moreover, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing increase in penetration of tablets and smartphones across countries such as China and India.
Furthermore, the dashboard & data visualization tools segment is expected to garner a significant share during the forecast period. This is attributed to rise in adoption of data visualization tools in various organizations to extract report from a diverse and rapid expansion of businesses. However, the reporting segment is expected to grow at the highest rate during the forecast period, owing to increase in complexity and size of financial data, limited capabilities of existing spreadsheet solutions, and rise in cost of compliance.
The report focuses on the growth prospects, restraints, and big data analytics in semiconductor & electronics market analysis. The study provides Porter’s five forces analysis of the big data analytics in semiconductor & electronics industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the big data analytics in semiconductor & electronics market trends.
The global big data analytics in semiconductor & electronics market is segmented into component, end user, analytics tool, application, usage, and region. In terms of component, the market is fragmented into software and services.
Depending on end user, it is bifurcated into semiconductor and electronics. On the basis of analytics tool, it is categorized into dashboard & data visualization, data mining & warehousing, self-service tools, reporting, and others. By application, it is segregated into customer analytics, supply chain analytics, marketing analytics, pricing analytics, workforce analytics, and others. By Usage, the market is segmented into sales & marketing, fault detection & classification, predictive maintenance, virtual meterology, process optimization, yield prediction, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global big data analytics in semiconductor & electronics market was valued at $17,134.70 million in 2020, and is projected to reach $42,103.80 million by 2030, registering a CAGR of 9.7%. The big data analytics in semiconductor & electronics market has witnessed considerable growth in past few years; however, due to the outbreak of the COVID-19 pandemic, the market is projected to witness a sudden downfall in 2020. This is attributed to implementation of lockdown by governments in majority of the countries and the shutdown of travel across the world to prevent the transmission of virus. This has affected the supply chains of several electronics & semiconductor companies. However, the big data analytics in semiconductor & electronics market is projected to prosper in the upcoming years after the recovery from the COVID-19 pandemic. In addition, various organizations have initiated adopting cloud-based big data analytics to manage critical information of organizations as well in semiconductor manufacturing processes, thus creating lucrative opportunity for the market expansion during the forecast period. Furthermore, increase in volume of data generated by different business processes and the need to manage this data are the key factors driving the growth of the market.
The key factors impacting the growth of the global big data analytics and semiconductor & electronics market include surge in adoption of big data analytics software by various organizations to facilitate enhanced & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner. In addition, numerous benefits provided by big data and business analytics such as faster data processing positively impacts the growth of the market.
Moreover, high implementation cost and dearth of skilled workforce are expected to affect the market growth. Increase in need to gain better insights for business planning and emerging trends such as social media analytics are further expected to impact the expansion of the market during the forecast period. However, each of these factors is projected to have a definite impact on the growth of the big data analytics in semiconductor & electronics industry.
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Cloud-based big data analytics does not involve capital cost as well as is low on maintenance requirements, and hence can be most preferred by mid-sized institutions. In addition, rise has been witnessed in adoption of cloud-based big data analytics among both large and mid-sized enterprises. This is attributed to the fact that these cloud-based big data analytics & security solutions allow enterprises to have superior control over access to application and sensitive information from distant locations. For instance, in October 2019, SAP HANA developed cloud-based big data analytics, which provides instant access to critical data and increases the performance of organizations by providing real-time analytics solutions.
Moreover, increase in availability of accessible cheap data centers delivered by cloud vendors has brought down the costs of upfront investment for small- & medium-sized businesses, which eases the market entry barrier. This has led to increased demand for cloud-based big data analytics software among small- & medium-sized enterprises. Furthermore, cloud services have solved the complexity of storing and accessing data for companies to simplify the use of their big data analytics solutions. By using cloud-based big data analytics, organizations can store all their data in a single platform that extends consistency of information to all the devices by reducing the investment cost in different sources for every device. Thus, upsurge in for cloud-based big data analytics software augments the growth of the market, globally.
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Big data analytics is in high demand as electronics devices manufacturers (EDMs) are seeking to use information assets to improve customer relationships, business outcomes, and operational efficiency. However, it has become more challenging to keep up with the changing demands and expectations of users. Conversely, emerging trends in big data analytics such as social media analytics & text analytics are anticipated to create numerous opportunities for this market. Social media sentiment analysis can help EDMs to identify key problem areas, build product roadmaps to generate new revenue streams, and modify online marketing strategies based on both the positive & negative reactions of customers.
Furthermore, many organizations have targeted social media as their key source for various advertising campaigns, promotions of different products, and events, as it is more effective than traditional way of advertising. In addition, rise in use of mobile phones and tablets with access to the internet coupled with ever-growing user volume on social media platforms fuels the demand for social media analytics tools, which, in turn, is anticipated to provide lucrative opportunity for the expansion of the big data analytics in semiconductor & electronics market size during the forecast period.
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Key Benefits For Stakeholders
Key Market Segments
Key Market Players
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As per the insights of industry executives of the leading companies, the adoption of big data and business analytics software has increased over the time to boost the decision-making capability and improve the business insights of organizations. In addition, the ability of the big data analytics software to provide potential opportunities for business and gain new insights to run the business efficiently is increasing its popularity among end users. Furthermore, many banking and manufacturing industries are investing in big data analytics to increase security and reduce compliances issues in organizations.
Presently, every organization, regardless of its size, is shifting its focus toward data analytics capability and is deploying data analytics tools and platforms to manage disparate data sets with higher volume to develop deeper insights from the data. This is attributed to the adoption of technology to sustain in a saturated and competitive market and to gain competitive advantages over the other players. Moreover, increase in economic strength of the developing nations such as China, India, Indonesia, and Thailand is expected to provide lucrative opportunities for the market growth. North America and emerging countries in Asia-Pacific are projected to offer significant growth opportunities during the forecast period. The CXOs further added that the global players are focusing toward product development and to increase their geographical presence, owing to rise in competition among local vendors in terms of features, quality, and price. In addition, these players are adopting various business strategies to enhance their product offerings and strengthen their foothold in the market.
For instance, in April 2020, Amazon introduced new Appflow, which is a fully managed service that provides an easy, secure way for customers to create and automate bidirectional data flows between Amazon Web Services (AWS) and software-as-a-service (SaaS) applications without writing custom integration code. Furthermore, these players are adopting various business strategies to strengthen their foothold in the market and enhance their product offerings. For instance, in April 2019, US-based Alteryx, one of the leading data science and analytics firms, opened its Middle East and Africa office in Dubai. This expansion is expected to tackle surge of interest in advanced data analytics across the Middle East and Africa (MEA).
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