Industry 4.0 and Sensor Technology Innovations Power Transformational Growth
The global Big Data analytics software for the test and measurement market is estimated to experience a 7.8% compound annual growth rate from 2021 to 2026. It generated $70.8 million in revenue in 2021, with a base year growth rate of 4.9%. Its growth is attributed to the adoption of Industry 4.0 practices and advanced technologies for improved operational performance.
This study identifies key market trends and the factors that drive and restrain the market growth of Big Data analytics software. It discusses industry verticals and regions that bolster market growth during the forecast period (from 2022 to 2026). With 2021 as the base year, the research provides market size estimates and future growth prospects for up to 2026. The specific methodology followed in the study included discussions with senior management of Big Data analytics software for test and measurement manufacturers supported by secondary research. The market is set to grow further once the global semiconductor chip shortage is resolved and the adoption of advanced vehicles (electric, connected, autonomous) accelerates.
Research Highlights
- Regional demand patterns in North America, Europe, Asia-Pacific, and the rest of the world
- Analysis of end-use industries, namely automotive, aerospace and defense, semiconductor, and energy and utilities
- Market share forecast and analysis, including revenue share of key competitors
- Growth opportunities for market stakeholders
Key Features
- APAC will maintain its dominance in the global Big Data analytics software for test and measurement market during the forecast period
- Semiconductors will be a lucrative end-use industry in the global Big Data analytics software for test and measurement market during the forecast period
- The Big Data analytics software for test and measurement market will witness accelerated growth in the last 3 years of the forecast period
- R&D focus in businesses will continue to boost the demand for advanced technologies; vendors will try to differentiate their products through features and functionalities
