Autonomous Data Platform Market Statistics: 2030
The global autonomous data platform market size was valued at $622.56 million in 2020, and is projected to reach $4,797.20 million by 2030, registering a CAGR of 22.8% from 2020 to 2030.
Growing advancements in the field of cloud computing are enabling businesses to enjoy faster, reliable, and more efficient storage and computing solutions for their businesses. These advances are building a strong foundation for the growth of the global autonomous data platform market.
Fields of artificial intelligence and cloud computing and are advancing day by day, and with these advancements in technology and capabilities, enterprises are getting more and more options to enhance their productivity and efficiency. With faster Artificial Intelligence capabilities process and workflow, automation speeds can be ramped-up to new levels, more processes can be automated with support from a stronger artificial intelligence.
In 2020, the global autonomous data platform market share was dominated by the platform segment, and is expected to maintain its dominance in the upcoming years, as developments in technology such as the deployment of web and cloud-based platforms, increased the need for analytics has contributed to the growth of the market. In addition, the introduction of actionable intelligence to reduce data loss, and the prioritization of network-based paradigms are some of the other factors that are bringing a positive outlook on market development.
The importance of services is equal to the amount of data to be created and stored. The organization has very sensitive data due to viruses, and corruption of files can cause data to be lost. To mitigate this phenomenon, enterprises are focusing on adopting a data backup and recovery platform, which drives the growth of the data backup and recovery market. A growing number of large and medium-sized enterprises have very large data, they need to store, backup, and recover, and so there is a growing demand for the data platform market.
An increase in inconsistent data generated across organizations in several European countries has led to the rise in adoption of autonomous data platforms and services within the region. Enterprises in Europe face data-related challenges in meeting the stress of worldwide businesses and simultaneously handling regulatory requirements. New technologies and business models are being rapidly introduced to the electronic control unit (ECU) market for the dynamic business needs of enterprises.
Constant technological innovation within the region resulted in changing customer preferences and therefore, the evolution of latest technologies, which, in turn, change the business models in data-driven industries. Large enterprises during this region are deploying autonomous data platforms and services to extract valuable insights from data repositories.
Germany, France, and the UK are expected to form the very best contribution to the market’s growth during this region. The rationale for this is often due to increase in inconsistent data generated across enterprises. Introduction of latest technologies and therefore the changes in business-models of industries have also driven the autonomous data platform market growth during this region.
The report focuses on the growth prospects, restraints, and autonomous data platform market analysis. The study provides Porter’s five forces analysis of the network security industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the autonomous data platform market trends.
Top Impacting Factors
Factors such as increasing adoption of private and hybrid cloud in modern business enterprises and growing digital production is primarily driving the market growth. However, complex and costlier integration and limited support and customization is mainly restraining the market growth. Further, data heavy fast-paced business world and its growing need for quicker analysis and advancements in the field of AI and cloud computing is estimated to create a lucrative opportunity for the market growth.
Increasing Adoption of Private and Hybrid Cloud in Modern Business Enterprises
As cloud application trends become more and more common in modern-day businesses, and enterprise data being primarily stored in hybrid and public clouds, autonomous data platforms are increasing their applications in such cloud-based businesses. Autonomous data platforms are offering ways to analyze, share, and combine crucial data more securely and with much more speed than traditional enterprise data warehouse solutions
By Component
Advisory segment is projected as one of the most lucrative segments.
As per a survey published by IDG, more than 90% of the participants reported having some part of their business operating through the cloud, with 9% of them having business completely on the cloud and 29% with most of their business operations based on cloud environments. This study showcases the cloud trends in the business world today, and with the growth of the cloud, the need for autonomous data platforms also increases for a faster data exchange and extraction.
Advancements in the Field of AI and Cloud Computing
Fields of Artificial Intelligence and cloud computing and are advancing day by day, and with these advancements in technology and capabilities, enterprises are getting more options to enhance their productivity and efficiency. With faster Artificial Intelligence capabilities process and workflow, automation speeds can be ramped up to new levels, more processes can be automated with support from a stronger artificial intelligence. Moreover, growing advancements in the field of cloud computing are enabling businesses to enjoy faster, reliable, and more efficient storage and computing solutions for their businesses. These advances are building a strong foundation for the growth of the global autonomous data platform market.
By Region
APAC is projected as one of the most significant region.
Segment Review
The autonomous data platform market is mainly segmented into component, deployment, organization size, industry vertical and region. Based on component, the market is segmented into platform, services, advisory, integration and support and maintenance. Based on deployment, the market is segmented into on-premise and cloud. Based on organization size the market is segmented into small and medium enterprise and large enterprise. By industry vertical, the market is segmented into BFSI, healthcare and life sciences, retail, manufacturing, telecommunication and media, government and others. By region, it is analyzed across North America, Europe, Asia Pacific and LAMEA.
Impact of COVID-19
Post COVID-19, the size of the global autonomous data platform market forecast is estimated to be $754.5 million in 2021, and is projected to reach $4,797 million by 2030.
The worldwide COVID-19 pandemic has had a massively beneficial influence on the global autonomous data platform industry, which is projected to increase following the COVID-19 pandemic. This is due to rapid spread of coronavirus throughout the world as well as work-from-home regulations created to prevent the virus's spread by reducing interactions. As a result, many firms invested in autonomous data platform solutions to simplify and speed-up productivity in business enterprises.
Furthermore, increasing network dependence and network load during the pandemic also paved the way for further growth of autonomous data platform industry during the period.
As the number of COVID cases increased during the pandemic, organizations became more reliant on cloud environments to process, analyze, and share internal data to employees who were now working remotely, due to restrictions imposed by various governments to stop the spread of the coronavirus, which benefited the autonomous data platform market. During the pandemic, applications of autonomous data platform solutions rose in relevance as advanced analytical tools were put to use and autonomous operations were substantially prioritized, due to restricted staff availability and network rights granted to them during their work-from-home time.
Furthermore, during the COVID-19 epidemic, many firms' client services had to be moved online, either entirely or partially. This enhanced the importance of the IT departments of these companies. During the pandemic, autonomous data platforms were relieving the burden in such companies, contributing to the growth of the worldwide autonomous data platform market.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the autonomous data platform market along with current trends and future estimations to elucidate imminent investment pockets.
- Information about key drivers, restraints, and Autonomous Data Platform Market opportunity and their impact analysis on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of autonomous data platform market for the period 2020–2030 is provided to determine the market potential.
Autonomous Data Platform Market Report Highlights
| Aspects | Details |
 By Component |
|
 By Deployment |
|
 By Organization Size |
|
 By Industry Vertical |
|
 By Region |
|
 Key Market Players | DENODO TECHNOLOGIES, ATACCAMA, .INTERNATIONAL BUSINESS MACHINES CORPORATION, GEMINI DATA INC., ORACLE CORPORATION, TERADATA CORPORATION, MAPR TECHNOLOGIES, INC, QUBOLE, INC., AMAZON WEB SERVICES, INC, CLOUDERA, INC. |
Analyst Review
According to CXOs of the major companies, the network security market is experiencing a rapid growth, owing to increasing adoption of private and hybrid cloud in modern business enterprises. As cloud application trends become more common in modern-day businesses, and enterprise data being primarily stored on hybrid and public clouds, autonomous data platforms are increasing their applications in such cloud-based businesses. Autonomous data platforms are offering ways to analyze, share, and combine crucial data more securely and with much more speed than traditional enterprise data warehouse solutions
As per a survey published by IDG, more than 90% of the participants reported having some part of their business operating through the cloud, with 9% of them having business completely on the cloud and 29% with most of their business operations based on cloud environments. This study showcases the cloud trends in the business world today, and with the growth of the cloud, the need for autonomous data platforms also increases for a faster data exchange and extraction.
Automation of business operations is offering top management and businesses executives’ new options to reduce losses while improving efficiency and maximizing workflow processes in ordinary day-to-day business operations. The whole process may be automated with the aid of Artificial Intelligence boosting a corporate organization's regular IT operations, allowing businesses to reallocate their human capital to things that are more reliant on manual processing and functioning. Furthermore, large-scale automation in businesses can decrease the risks of mistakes introduced by manual human processes. These reasons are getting more concrete as the capabilities of the autonomous data platforms develop, implying a significant market growth in the next years.
The autonomous data platform market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of solutions & services, reliability, efficiency of products, and support services. The market is concentrated with major players consuming 45-50% of the share. The degree of concentration is expected to remain same during the forecast period. Furthermore, powerful processing units and storage solutions that are being developed and launched are also widening the market scope for autonomous data platform solutions to widen their reach in the modern business operations architecture.
Loading Table Of Content...
