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Big Data Analytics In Semiconductor And Electronics Market Report 2024 - Big Data Analytics Market Growth And Share
Big Data Analytics In Semiconductor And Electronics Market
According to The Business Research Company's, The big data analytics in semiconductor and electronics market size has grown strongly in recent years. It will grow from $20.01 billion in 2023 to $21.80 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to the increasing complexity of semiconductor designs, rapid growth in IoT, demand for faster time-to-market, quality control and yield optimization, energy efficiency, and sustainability.
The big data analytics in semiconductor and electronics market size is expected to see strong growth in the next few years. It will grow to $30.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to global semiconductor industry collaboration, customization and personalization demands, environmental and sustainability initiatives, digital twin technology adoption, and increased emphasis on cybersecurity. Major trends in the forecast period include blockchain for supply chain transparency, cross-domain collaboration platforms, edge AI chip development, predictive maintenance in manufacturing, and AI-driven design and optimization.
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Market Drivers and Trends:
An upsurge in penetration of wearable devices is expected to propel big data analytics in the semiconductor and electronics market going forward. Wearable devices are compact electronic gadgets designed to be worn on the body, often equipped with sensors and connectivity features for tracking health and fitness or providing personalized information. The penetration of wearable devices is attributed to technological advancements, health and wellness trends, lifestyle integration, personalization, connectivity needs, and fashion considerations. Wearable devices contribute significantly to big data analytics in the semiconductor and electronics industry by providing valuable data that can be analyzed for various purposes, including health monitoring, user behavior analysis, real-time monitoring, and predictive maintenance. For instance, in November 2022, according to Vicert, a US-based digital health solution software company, the number of wearable devices shipped in 2021 amounted to 533.6 million, including watches, hearing aids, and other assistive equipment. Further, by 2023, 105 million devices are expected to be in the wearables and earwear category. Therefore, an upsurge in the penetration of wearable devices is driving the growth of big data analytics in the semiconductor and electronics market.
Major companies operating in big data analytics in the semiconductor and electronics market are focused on developing innovative solutions, such as Amazon EC2 C7g, to gain competitive advantages in the market. Amazon EC2 C7g offers customers greater computing performance at a lower cost for a broad range of workloads. For instance, in November 2022, Amazon.com, Inc., a US-based company engaged in e-commerce, introduced the Amazon EC2 C7g, powered by New AWs-designed chips. Hpc7g instances, featuring the latest AWS Graviton3E chips, provide up to twice the floating-point performance of the current C6gn instances and up to 20% higher than the current Hpc6a instances. This results in optimal price performance for AWS high-performance computing (HPC) workloads.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Microsoft Corporation, Dell Inc, Amazon Web Services Inc, IBM Corporation, Cisco Systems Inc, Optimalplus Ltd, Broadcom Inc, SAP SE, Advanced Micro Devices Inc, ASML Holding NV, MediaTek Inc, Lam Research Corporation, Analog Devices Inc, KLA Corporation, Marvell Technology Group Ltd, Qualtera SAS, Synopsys Inc, Cadence Design Systems Inc, SAS Institute Inc, Splunk Inc, Silicon Laboratories Inc, Onto innovation Inc, TIBCO Software Inc, Rapidminer Inc, YieldHub, XDM technology co. Ltd, Mentor Graphics Corporation
Big Data Analytics In Semiconductor And Electronics Market 2024 Key Insights:
• The big data analytics in semiconductor and electronics market size is expected to see strong growth in the next few years. It will grow to $30.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• The Role Of Wearable Devices In Propelling Big Data Analytics In The Semiconductor And Electronics Market
• Innovative Horizons Exploring The Realm Of Product Evolution And Advancement
• North America was the largest region in the big data analytics in semiconductor and electronics market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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