Big Data Analytics In Semiconductor & Electronics Market In APAC – A High Potential For Growth Expected
October 14, 2021
Increase in demand for cloud-based big data analytics software among enterprises positively impacts the growth of the market.PORTLAND, PORTLAND, OR , UNITED STATES, October 14, 2021 /EINPresswire.com/ -- Surge in need to manage the massive volume of data generated by organizations due to technological advancements in data collection, visualization, and analytics drives the growth of big data analytics in semiconductor & electronics market.
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 Asia-Pacific big data analytics in semiconductor & electronics market size was valued at $7,486.00 million in 2019, and is projected to reach $14,839.00 million by 2027, growing at a CAGR of 9.2% from 2020 to 2027.
On the basis of deployment model, on-premise deployment model dominated the Asia-Pacific big data analytics in semiconductor & electronics market in 2019, and is expected to maintain its dominance in the upcoming years as this type of deployment mode is used to gather, display, and organize important business data using company’s own IT infrastructure, which allows them to keep the data secure. For instance, in May 2019, Microsoft Corporation released new edition of its big data analytics solution, which is a Microsoft Power BI-embedded platform for on-premise deployment mode. This solution will help manufacturing companies as well as electronic manufacturers review huge data generated from various processing. However, the cloud-based deployment segment is expected to witness highest growth during the Asia-Pacific big data analytics in semiconductor & electronics market forecast period attributed to rise in adoption of cloud-based big data analytics among both large as well as mid-sized enterprises as they facilitate enterprises with superior control over access to application and sensitive information from distant locations.
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Post COVID-19, the Asia-Pacific big data analytics in semiconductor & electronics market size was valued at $8,032 million in 2019, and is projected to reach $14,839 million by 2027, growing at a CAGR of 9.2% from 2020 to 2027. 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 Asia-Pacific big data analytics in semiconductor & electronics industry
Major industry players - Amazon Web Services, Cisco systems, Inc., Dell EMC, International Business Machines Corporation, KX Systems, Inc., Microsoft Corporation, SAP SE, SAS Institute Inc., Splunk Inc., and TIBCO Software Inc.
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