Rise in adoption of big data analytics software by multiple organizations drive the market growth.
PORTLAND, PORTLAND, OR , UNITED STATES, October 13, 2021 /EINPresswire.com/ — Rise in penetration of tablets and smartphones across countries such as China, India, and Indonesia drives the growth of the market. In addition, governments in Asia-Pacific countries are actively investing in big data analytics solutions and services, which is expected to significantly contribute toward the growth of the market.
The key objective of big data analytics in semiconductor & electronics is to help organizations get better understanding of their customers, business processes, and help organizations to narrow down their targeted audience, thus improving the marketing campaign of companies. Numerous benefits are associated with big data and business analytics such, as it allows customers to capture & process different services, modify existing orders, and process customer moves.
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% from 2020 to 2030.
By end user, the global big data analytics in semiconductor & electronics market share was dominated by the electronics segment in 2020 and is expected to maintain its dominance in the upcoming years as in response to the growing competition in the electronics industry, electronics manufacturing service (EMS) providers are progressively adopting advanced and strategic business models. However, the semiconductor segment is expected to witness the highest growth. Semiconductor companies have been influential in generating and analyzing data. Few companies have effectively applied big data analytics to fab operations, where they could improve predictive maintenance & yield, advance R&D, sales & marketing for enhanced pricing, market entry strategies, workforce effectiveness, cross-selling, and portfolio optimization.
In 2020, the software segment exhibited the highest growth in big data analytics in semiconductor & electronics market and is expected to maintain its dominance in the upcoming years. Most of organizations have started adopting big data and business analytics software to manage the massive volume of data being generated for meaningful insights and better informed decisions. Moreover, companies majorly focus on creating novel opportunities for growth and revenue generation, thereby increasing the preference for big data analytics across industries. However, the services segment is expected to witness the highest growth. Over the past few years, increase has been witnessed in the adoption of services among end users, as this service ensures effective functioning of software and platforms throughout the process.
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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 big data analytics in semiconductor & electronics market size.
Profiling Key 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.
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