According to a recent report published by Allied Market Research, titled, “Big Data Analytics in Semiconductor & Electronics Market by Component, Deployment, Enterprise Size, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027,” the global market was valued at $16.70 billion in 2019, and is projected to reach $31.80 billion by 2027, growing at a CAGR of 8.6% from 2020 to 2027.
Big data and business analytics refer to the process of gathering useful information from large set of structured and unstructured data to discover hidden patterns and analyze real-time information. In addition, big data analytics is majorly adopted by analysts and business users for faster and better decision-making using data that is unstructured & previously inaccessible to improve operational efficiencies & productivity, yield management, and reduce costs in semiconductor & electronics industry. Thus, all these factors collectively contribute toward the growth of the big data analytics in semiconductor & electronics market.
Many semiconductor & electronics sector’s 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. In addition, increase in demand for cloud-based big data analytics software among enterprises positively impacts the growth of the market.
According to component, the software segment holds majority of the big data analytics in semiconductor & electronics market share in 2019 due to the factors such as the need for getting insights regarding customer preferences, smart maintenance, growing focus on productivity and yield management, need to reduce the operational costs, and get actionable insights from real time data across manufacturing supply chain.
By end user, the electronics segment accounted for the highest share in big data analytics in semiconductor & electronics market in 2019, owing to its numerous benefits such as manage operations & maintenance (O&M) and other projects from the same platform, getting better insight into energy spending, increasing productivity at all facilities, and complying with regulatory and governance requirements. In addition, the need for data-driven facility and asset management, tracking and analyzing facility utilization is further boosting the growth of big data analytics in semiconductor & electronics market.
As per region, the global big data analytics in semiconductor & electronics market size was dominated by Asia-Pacific in 2019. Factors such as major presence of leading market vendors in electronics and semiconductor manufacturing sector in the China, Japan, South Korea, and growing adoption of advanced technologies such IoT and AI in this region are the major drivers for the big data analytics in semiconductor & electronics market growth. In addition, rise in number of smart devices will further propel the big data analytics in semiconductor & electronics market growth in this region.
The outbreak of COVID-19 is anticipated to have a significant impact on the growth of the big data analytics in semiconductor & electronics market. With alarming increase in cases of coronavirus in 2020, many players adopted various business strategies. Companies continue to monitor the situation and have adjusted the current policies as per the public health guidance. Furthermore, precautionary measures such as proper sanitization at workplace and social distance maintenance have been adopted across the industry; however, they could negatively affect customer success efforts, sales & marketing efforts, may delay & lengthen sales cycles, or create operational challenges, any of which could harm the semiconductor & electronics business and results of operations.
Key Findings Of The Study
- By component, the services segment is expected to witness the highest CAGR during the forecast period.
- On the basis of end user, the semiconductor segment is expected to witness highest growth rate during the big data analytics in semiconductor & electronics market forecast period.
- Depending on application, the customer analytics segment exhibited the highest market size in 2019.
- As per analytics tools segment, the dashboard and data visualization held the highest market share in 2019.
- Region wise, Asia-Pacific accounted for the highest revenue in 2019, and is expected to continue this trend in the near future.
The global big data analytics in semiconductor & electronics market analysis includes some of the key market players such as Amazon Web Services, Cisco Systems, Inc., Dell EMC, Dr Yield Software & Solutions GmbH, Galaxy Semiconductor Inc., IBM Corporation, Kx Systems, Microsoft Corporation, Onto Innovation Inc., Optimalplus Ltd., Qualtera (Synopsys, Inc.), Rapidminer Inc., SAP SE, SAS Institute Inc., Splunk Inc., TIBCO Software Inc., XDM Technology co., Ltd., and YieldHub.