According to the new market research report by IndustryARC titled “
”, the market is driven by the use of advanced analytics, safe delivery of products, and systems that respond based on the live data or current market happenings. Also, new channel programs such as E-commerce and social media programs provide new opportunities.
Browse 09 Market Tables, 17 Figures spread through 110 slides and an in-depth TOC on “
Global 3D Scanning Market (2012 - 2018)”
Americas held the largest market share in the Big Data Market with Supply Chain Management
The North American region holds the largest market share and growth in the Big Data Market with focus on Supply Chain Management and is anticipated to reach $30.57 billion by 2023 at a CAGR of 21.5%. However, Latin America witnessed highest growth rate during the forecast period and is expected to reach $2.9 billion by 2023 at a CAGR of 37.40%. Different cases of use of the systems are order management, demand planning, warehouse management, price management, production planning, tactical supply planning, transportation planning, product life cycle management, and Manufacturing Execution Systems (MES).
The North American Market has the highest revenue share of around 52% due to the higher concentration of big data solution providers and also due to the noticeable trend of using analytics in SCM and other areas by companies like Walmart, Amazon for efficiency. According to Mind Commerce, though the North American and European regions are the highest revenue contributors, they do not have the highest growth rates. APAC, Latin America, Middle East and Africa are the highest growing regions. The size and scale of operations of companies in these regions and the opportunities for innovation in many developing countries present, provide opportunities to big data companies to produce targeted and custom solutions to the clients present here.
Excerpts on Market Growth Factors
- The market is currently in a high growth phase and market needs are being mapped, catered to by the solutions present – big data or otherwise.
- The degree of competition in the big data market is medium and is growing. This is because a lot of start-ups as well as established companies like IBM and Dell are offering big data solutions currently.
- Retail, energy and utilities, manufacturing and telecommunications are the top growing industry segments with growth rates more than 30% in each case.
- Big Data growth in an organization depends on three key reasons: business needs, technical requirements, and financial capabilities. With the increase in Big Data, organizations had to deal with complex issues such as increase in infrastructure costs, lack of skilled IT staff to understand Big Data applications and analytics, structure and format of the data. The emergence of Big Data analytics contributed towards the growth of the Big Data market research.
- The field is entirely ripe for innovation and start-ups, offering targeted and better products.
Key players of Big Data Market with Focus on Supply Chain Management
Apple holds the top position in the supply chain rankings followed by McDonald’s and Amazon. Each company faces unique challenges in their respective industries of electronics and retail due to the sheer scale of their operations. While Apple ships millions of iPhones, iPads to its customers across the world through retailers and its own stores, it needs to keep track of demand and fluctuations so that its third party manufacturing can keep up with the supply. McDonald’s and Amazon also operate on a huge scale to make sure their customers get their products on time and in good quality.
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