Report Code : A07576
The Semiconductor segment is expected to experience fastest growth in the coming years, owing to the advent of cloud computing, the computing power and storage infrastructure have become markedly easier. Furthermore, with effective big data analytics tools, it has become easier for semiconductor companies to incorporate data into actionable models, thus driving the growth of this market.
Shadaab Khan - Research Analyst
ICT and Media at Allied Market Research
According to a new report published by Allied Market Research, titled, “Big Data Analytics in Semiconductor & Electronics Market," The big data analytics in semiconductor & electronics market was valued at $18.7 billion in 2021, and is estimated to reach $47.2 billion by 2031, growing at a CAGR of 9.9% from 2022 to 2031.
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.
In addition, increase in demand for cloud-based big data analytics software among enterprises positively impacts the growth of the Big Data Analytics in Semiconductor & Electronics Market. However, high implementation cost and dearth of skilled workforce are expected to hamper the market growth. 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 Big Data Analytics in Semiconductor & Electronics Market during the forecast period.
On the basis of analytics Tool, the dashboard & data visualization tools segment dominate the Big Data Analytics in Semiconductor & Electronics Market Share in 2021. 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 Big Data Analytics in Semiconductor & Electronics Market Size 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.
Region-wise, the big data analytics in semiconductor & electronics market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to rapid penetration advanced technologies such as big data & analytics and AI that influencing the North America regional market share. However, Asia-Pacific is expected to grow at the highest big data analytics in semiconductor & electronics market forecast period. This is due to rapid adoption of emerging technologies among various businesses and industrial sector and rise in adoption of smart manufacturing propel the growth of this Big Data Analytics in Semiconductor & Electronics Market in this region.
Rise in number of COVID-19 patients across the globe has led to a significant decrease in the adoption of big data and business analytics and preplanned investments, owing to the closing of work places & industries such as manufacturing for some period. The outbreak of the COVID-19 pandemic and political unrest & social strife in the U.S., Europe, and Asia-Pacific could cause a decrease in corporate spending on enterprise software and negatively affect the rate of growth of big data analytics business.
However, the COVID-19 pandemic has led to increased adoption of cloud technology to help consumers across big data analytics in semiconductor & electronics industry to combat against the pandemic situation. Furthermore, many companies are providing free and open data set tools to researchers and scientists for helping them to develop COVID-19 solutions at a faster pace.
In addition, post COVID-19, it is expected that big data and cloud technology will be preferred by various electronics companies to fight against such pandemic situations in future and to predict the possible situations before it happens. Predictive maintenance is expected to gain traction across this industry. In addition, owing to the outbreak of the COVID-19 pandemic, demand for big data and business analytics for different applications such as customer analytics and pricing analytics is expected to propel across semiconductor & electronics industry.
KEY FINDINGS OF THE STUDY
The key players that operate in the Big Data Analytics in Semiconductor & Electronics Market Analysis are 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. These players have adopted various strategies to increase their market penetration and strengthen their position in the Big Data Analytics in Semiconductor & Electronics Industry.
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Big Data Analytics in Semiconductor & Electronics Market by Component (Software, Services), by End User (Semiconductor, Electronics), by Analytics Tool (Dashboard and Data Visualization, Reporting, Self Service Tools, Data Mining and Warehousing, Others), by Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Workforce Analytics, Others), by Usage (Sales and Marketing, Fault Detection and Classification, Predictive Maintenance, Virtual Meterology, Process Optimization, Yield Prediction, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
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