Published Date : 19 Apr 2023
The global automated data platform market revenue was estimated at USD 1.3 billion in 2022 and it is expected to increase around USD 7.5 billion by 2032 with a CAGR of 19.15% between 2022 and 2030.
The automated data platform market growth is driven by the increasing adoption of AI and ML, growing digitization across industries, the increase in demand for real-time information, and the growing trend of cloud computing technology.
For all of an organization’s data, a data platform serves as a primary storage and processing facility. To produce business ideas, data must be collected, cleaned, transformed, and applied. The fact that the data platform frequently consists of numerous integrated tools provided by various vendors leads to the term "modern data stack" being occasionally used to describe it. Data platforms have been adopted by data-first businesses as a successful means of aggregating, operationalizing, and democratizing data at scale throughout the business.
Data teams must take into account the data platform as the system that creates, manages, surfaces, and governs data products as more organizations adopt data mesh design and principles like data products. Unparalleled flexibility is provided by autonomous data platforms, which allow businesses to modify capacity according to ease and requirements.
A significant amount of unstructured information is being produced as a result of the rapid adoption of social media and the devices that go along with it, which is expected to lead to an increase in the demand from small and medium-sized companies for autonomous database platforms. Data is encrypted, workloads are monitored, and any entity trying to access the data is stopped by autonomous data platforms.
Automated Data Platform Market Report Scope:
|Market Size in 2022||USD 1.3 Billion|
|Projected Forecast Value in 2032||USD 7.5 Billion|
|Growth Rate||19.15% from 2023 to 2032|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
North America is expected to dominate the market during the forecast period. The widespread use of mobile devices and the Internet in North America has made it possible for businesses to connect with customers, channel partners, and other regional stakeholders. Businesses have adopted autonomous data platforms and services as a result of the widespread use of mobile devices and social media platforms to interact with clients and business partners and provide customised content to client business needs. Moreover, the global American company Intel is discovering the significant value in big data. Big data is used by the company to identify manufacturing flaws, accelerate chip development, and alert customers to security risks.
The company has been able to enable predictive analysis and save close to USD 30 million on its Quality Assurance expenditures while still improving quality by implementing Big Data. The White House has also contributed close to USD 200 million to big data initiatives. The nation also has a sizable professional population in the market under study, which presents a sizable opportunity for growth over the forecast period. Furthermore, the expansion of the US store is anticipated to encourage their investment in supply chain management, and they are actively working to improve the customer experience. They can accomplish both goals with the aid of big data apps and automated data platforms.
According to the U.S. Department of Commerce's quarterly e-commerce statistics, customers spent USD 601.75 billion online with American merchants in 2019, up 14.9% from USD 523.64 billion the previous year. This growth rate was higher than that of 2018 when online sales as reported by the Commerce Department increased by 13.6% annually. As a result, it is anticipated that US merchants will increasingly use big data and, as a result, automated data platforms.
The Asia Pacific is expected to grow at the highest CAGR over the forecast period. The industry is predicted to continue expanding quickly because decision-making is increasingly aided by AI and machine learning. Additionally, the ability of businesses to combine client data from various sources onto a single platform, cutting down on hours of computational work, is facilitating the demand for autonomous data platforms. Due to significant investments made in R&D activities to offer these platforms improved capabilities, the autonomous data platform business is likely to see new growth opportunities. As a result, throughout the forecast period, the Asia Pacific region is anticipated to experience positive momentum for automated database systems.
Modern businesses are using private and mixed clouds more frequently
Due to the growing popularity of cloud apps in new-age businesses and the growing trend of storing corporate data primarily in hybrid and public clouds, the use of autonomous data platforms in cloud-based businesses is continuously expanding. In addition, compared to traditional corporate data warehouse solutions, autonomous data platforms are offering a variety of ways to examine, share, and integrate crucial data more securely and quickly. Thus, this is expected to drive the growth of the market during the forecast period.
The expectations of businesses increase as a result of the expanding technological advancements. To meet the demands of gathering, analyzing, and sorting their customers' data, these businesses frequently update their cloud-based and customer-centric solutions. Additionally, businesses must make significant investments to implement cloud-based and autonomous data platforms, which could reduce demand for these platforms during the forecast period.
Increasing knowledge of the advantages of autonomous data systems
Autonomous data platforms can encrypt data, monitor every entity attempting to access the data, and measure workloads. These tools allow businesses to use the data in this way without having to worry about compliance or reputational risk from an inappropriate setting. Additionally, these platforms provide exceptional flexibility that enables businesses to alter capacity by comfort and needs.
Major Key Players:
By Enterprise Size
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