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Many market aspects affect the autonomous data platform industry's growth and development. Executives want cutting-edge data due to the growing volume of data created by firms and people. As organizations grapple with big data, autonomous data platforms that can efficiently handle large and complicated data sets are essential. Distributed computing and the Web of Things (IoT) generate massive amounts of data that require careful management and analysis, increasing demand for autonomous data platforms.
Increasing focus on data security and protection also shapes the autonomous data platform industry. GDPR and CCPA require companies to invest in data systems with improved security and consistency. This focus on data security leads the market toward autonomous systems that ensure data integrity, privacy, and administrative consistency, fostering client confidence.
The increasing complexity of data analysis and the need for continual experience also affect autonomous data platform markets. Organizations want data platforms that can autonomously manage complicated investigative procedures to quickly and efficiently infer important insights. Organizations need autonomous data platforms to automate data processing, foresight analysis, and dynamic cycles to stay competitive in the data-driven world.
The autonomous data platform industry is also affected by the serious scene and mechanical advances. Central members supplying advanced autonomous data platform arrangements boost development and market competition. As firms separate their contributions, they focus on autonomous platforms with increased AI, AI-driven capacities, and constant integration with new breakthroughs. This competitive environment drives the development of autonomous data platforms, resulting in more complicated and comprehensive solutions for various business needs.
Market considerations that affect autonomous data platform adoption include cost and flexibility. Companies want cost-effective, scalable data processing and storage solutions, making autonomous data platforms appealing. The ability to handle growing data quantities without compromising performance and offer a flexible valuation model makes autonomous platforms a compelling choice for enterprises looking to improve their data board operations.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Component, Services, Deployment, Enterprise, End Use, and Region |
Autonomous Data Platform Market Highlights:
Autonomous Data Platform Market Overview
Autonomous Data Platform Market Size was valued at USD 1.5 Billion in 2022. The Autonomous Data Platform market is projected to grow from USD 1.8 Billion in 2023 to USD 9.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.20% during the forecast period (2023 - 2032). The increase in the demand for real-time information, increased digitization and automation across industries, are the key market drivers enhancing the market growth.
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Autonomous Data Platform Market Trends
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The growing digitization and automation across industries is driving the market growth
The emergence of cutting-edge technologies like Machine Learning (ML) and Artificial Intelligence (AI), as well as the expanding digitalization and automation across industries, are anticipated to have a substantial impact on the industry's growth. The use of autonomous data platforms in cloud-based businesses is steadily expanding, which will present growth opportunities over the forecast period. This is due to the emerging trends of cloud platforms in new business organisations and the retention of enterprise data primarily in the hybrid & public clouds. With the great flexibility that an autonomous data platform offers, businesses can modify capacity according to their convenience and requirements. Additionally, autonomous data platforms provide a number of options to assess, share, and incorporate crucial data more rapidly and securely than standard business database solutions. As a result, firms can improve and increase their data management capabilities. These are the elements that are anticipated to fuel industrial expansion.
Because of the rising use of cognitive computing and cutting-edge analytical technologies, the sector is predicted to expand. Several firms are producing a sizable volume of unstructured data as a result of the quick development of social media and related technologies. The growing amount of data is expected to enhance the demand for autonomous database platforms from small and medium-sized organisations. The autonomous data platforms can watch every entity seeking to access the data and can track workloads and encrypt data. Any entity can research the big data environment of a single customer using an autonomous data platform to handle critical business concerns and enable the optimal use of the database.
Autonomous databases' automation decreases the amount of human installation and data processing, providing decision-makers with useful insights earlier. Machine learning is used by the autonomous data platform to ensure that it is always running smoothly and in the way that business decision-makers want it to. For instance, machine learning can automatically and continuously patch, upgrade, adapt, and backup the system while it is in use, with little to no operator involvement. Automation reduces the likelihood that malicious or careless human action will jeopardise database security or operations. Thus, driving the Autonomous Data Platform market revenue.
Autonomous Data Platform Market Segment Insights
Autonomous Data Platform Component Insights
The Autonomous Data Platform Market segmentation, based on component, includes platform and services. Platform segment dominated the global market in 2022. This is due to both a rise in the need for analytics, which is expected to drive the segment's growth, and expanding technological improvements, such as the emergence of digital and cloud-based platforms.
Autonomous Data Platform Services Insights
The Autonomous Data Platform Market segmentation, based on services, includes advisory, integration, and support & maintenance. The integration segment dominated the global market in 2022. File corruption can lead to data loss because of various infections and the extremely sensitive information the organisation handles. The development of the database backup and restore service is being fueled by businesses' focus on installing a data backup and restore platform to address this problem.
Autonomous Data Platform Deployment Insights
The Autonomous Data Platform Market segmentation, based on deployment, includes on-premises and cloud. On premises segment dominated the global market in 2022. Since on-premises implementation is thought to be safer than cloud deployment, it is used in firms where identity and privacy are crucial components of corporate operations.
Autonomous Data Platform Enterprise Insights
The Autonomous Data Platform Market segmentation, based on enterprise, includes large enterprise and small and medium enterprise (SME). Large enterprise segment dominated the Autonomous Data Platform Market in 2022. Due to the advancement towards digitalization and the effective use of technology to automate and accelerate business processes, it is anticipated that the large enterprise segment would grow over the course of the projected period.
Autonomous Data Platform End Use Insights
The Autonomous Data Platform Market segmentation, based on end use, includes BFSI, healthcare, retail, manufacturing, it and telecom, government, and others (travel & hospitality, transportation & logistics, and energy & utilities). BFSI segment dominated the Autonomous Data Platform Market in 2022. The BFSI sector has mostly embraced the autonomous data platform. Due to changing consumer behaviour, financial institutions are having trouble providing specialised services while protecting customer data.
Figure 1: Autonomous Data Platform Market, by End Use, 2022 & 2032 (USD Billion)
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Autonomous Data Platform Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Autonomous Data Platform Market dominated this market in 2022 (45.80%). The region is thought to be the most advanced region in terms of adopting the newest technology and cloud-based solutions because it is home to most developed economies, including the United States and Canada. The extensive use of mobile phones and the internet in North America is fueling a huge market boom. Further, the U.S. Autonomous Data Platform market held the largest market share, and the Canada Autonomous Data Platform market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AUTONOMOUS DATA PLATFORM MARKET SHARE BY REGION 2022 (USD Billion)
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Europe Autonomous Data Platform market accounted for the healthy market share in 2022. Due to large expenditures made in R&D activities to give these platforms improved capabilities, the regional autonomous data platform business is anticipated to see new growth prospects. Additionally, the capacity of businesses to merge client data from several sources onto a single platform, cutting down on hours of computational work, is facilitating the demand for autonomous data platforms. Further, the German Autonomous Data Platform market held the largest market share, and the U.K Autonomous Data Platform market was the fastest growing market in the European region
The Asia Pacific Autonomous Data Platform market is expected to register significant growth from 2023 to 2032. The industry is predicted to continue expanding quickly since decision-making is increasingly aided by AI and machine learning. Moreover, China’s Autonomous Data Platform market held the largest market share, and the Indian Autonomous Data Platform market was the fastest growing market in the Asia-Pacific region.
Autonomous Data Platform Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Autonomous Data Platform market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Autonomous Data Platform industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Autonomous Data Platform industry to benefit clients and increase the market sector. In recent years, the Autonomous Data Platform industry has offered some of the most significant advantages to medicine. Major players in the Autonomous Data Platform market, including Oracle Corporation, Teradata, IBM, Amazon Web Services, Inc., Hewlett Packard Enterprise Development LP, Qubole, Inc., Cloudera, Inc., Gemini Data, Denodo Technologies, and Alteryx, Inc., are attempting to increase market demand by investing in research and development operations.
Enterprises can get cloud-based solutions from Oracle Corp (Oracle). The business provides hardware systems, application software, cloud infrastructure software, database and middleware software, and hardware. Additionally, it provides integrated cloud solutions, such as Software as a Service (SaaS) and Infrastructure as a Service (IaaS). Oracle offers licence updates, new licences, and solutions for related support for new on-premises applications. Oracle and Informatica, a developer of cloud-based enterprise data management software, partnered in May 2022.
Information technology (IT) goods and services are offered by International Business Machines Corp (IBM). The business creates and markets software and hardware for computers, in addition to providing infrastructure, hosting, and consulting services. Analytics, automation, blockchain, cloud computing, IT infrastructure, IT management, cybersecurity, and software development tools are all part of IBM's product range. The business also provides services in the areas of cloud computing, networking, security, technology consulting, application services, business resilience services, and tech support services. IBM Watson and Anaconda, Inc., the premier Python data science platform provider, announced a new partnership in June 2020 to facilitate the adoption of open-source AI technology in businesses.
Key Companies in the Autonomous Data Platform market include
- Oracle Corporation
- Gemini Data
- Teradata
- IBM
- Qubole, Inc.
- Amazon Web Services, Inc.
- Hewlett Packard Enterprise Development LP
- Cloudera, Inc.
- Denodo Technologies
- Alteryx, Inc.
Autonomous Data Platform Industry Developments
Feb 2020Â The Oracle Cloud Data Science Platform's launch was announced by Oracle. With features like shared projects, model catalogues, team security policies, reproducibility, and auditability, Oracle Cloud Infrastructure Data Science, which is at the centre of the system, enables businesses to jointly develop, train, manage, and deploy machine learning models to increase the success of data science projects.
Autonomous Data Platform Market Segmentation
Autonomous Data Platform Component Outlook
- Platform
- Services
Autonomous Data Platform Services Outlook
- Advisory
- Integration
- Support & Maintenance
Autonomous Data Platform Deployment Outlook
- On-premises
- Cloud
Autonomous Data Platform Enterprise Outlook
- Large Enterprise
- Small and Medium Enterprise (SME)
Autonomous Data Platform End Use Outlook
- BFSI
- Healthcare
- Retail
- Manufacturing
- IT and Telecom
- Government
- Others (Travel & Hospitality, Transportation & Logistics, and Energy & Utilities)
Autonomous Data Platform Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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