Big Data Analytics in Semiconductor & Electronics Market Value is Projected to Reach $42,103.80 million by 2030
Rise in adoption of big data analytics software by multiple organizations, growth in demand for cloud-based big data analytics software drives the market growth
PORTLAND, PORTLAND, OR, UNITED STATES, March 4, 2022 /EINPresswire.com/ — The global big data analytics in semiconductor & electronics industry garnered $16.70 billion in 2019, and is projected to generate $31.80 billion by 2027, growing at a CAGR of 8.6% from 2020 to 2027.
Emerging trends such as social media analytics, surge in need to gain insights for business planning, and advanced process control analytics applications and trends in semiconductor manufacturing create new opportunities in the next few years.
Key industry players – 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.
By region, Asia-Pacific, followed by North America, is projected to witness the largest CAGR of 9.2% from 2020 to 2027. In addition, this region also held the largest share in terms of revenue in 2019, accounting for more than two-fifth of the global big data analytics in semiconductor & electronics , and will maintain its lead position by 2027. Increase in adoption of big data analytics across electronics & semiconductor industry to improve productivity and strong presence of electronics manufacturing organizations in Asia-Pacific is boost the growth of the big data analytics in semiconductor & electronics market in this province.
Based on analytics tools, the dashboard and data visualization segment contributed to the largest share in 2019, accounting for more than one-fourth of the global big data analytics in semiconductor & electronics market, and is projected to maintain its dominant share throughout the forecast period. Organizations are largely investing in dashboard & data visualization tools to manage different unstructured data produced and left unused, which in turn is driving the demand for data visualization tools. However, the reporting segment is expected to manifest the fastest CAGR of 10.4% during the forecast period. This is attributed to increase in complexity and size of financial data, limited capabilities of existing spreadsheet solutions, and rise in cost of compliance.
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Based on component, the solution segment held the highest market share, accounting for nearly two-thirds of the total market share of the global big data analytics in semiconductor & electronics market in 2019, and will maintain its lead position during the forecast period. Most of the organizations have started adopting big data and business analytics software to manage the massive volume of data generated for meaningful insights and better informed decisions. This drives the growth of the segment. However, the services segment is estimated to grow at the highest CAGR of 10.4% from 2020 to 2027. This is attributed its adoption to ensure effective functioning of software and platforms throughout the predictive analysis process.
Covid-19 Scenario
• Increase in number of COVID-19 patients all over the globe and closing of workplaces and industries have decreased the adoption of big data and business analytics and preplanned investments.
• At the same time, the industry has witnessed an increase in the adoption of cloud technology to assist the consumers across semiconductor & electronics industry to fight against the pandemic.
• Several companies are also offering free and open data set tools to researchers and scientists for aiding them to develop COVID-19 solutions.
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