New York, USA, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Autonomous Data Platform Market Analysis
Market Research Future (MRFR) 's report highlights, “Autonomous Data Platform Market Information by Component, by Services, by Deployment, by Enterprise, by End Use, and by Region - Forecast till 2032"; the market will touch USD 9.1 billion at a 22.20% CAGR by 2032.
Key Players
Eminent industry players profiled in the global autonomous data platform market report include
- Oracle Corporation,
- Teradata,
- IBM,
- Hewlett Packard Enterprise Development LP,
- Amazon Web Services, Inc.,
- Qubole, Inc.,
- Cloudera, Inc.,
- Gemini Data,
- Denodo Technologies,
- Alteryx, Inc.
- Among others.
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Scope of the Report – Autonomous Data Platform Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 9.1 Billion |
| CAGR during 2023-2032 | 22.20% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Growing demand for SMEs |
| Key Market Dynamics | The growing digitization and automation across industries and the rise in demand for real-time information |
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Drivers
Burgeoning Growth in Cloud Computing to Boost Market Growth
Cloud computing and artificial intelligence are constantly improving. These technological developments have increased the opportunity for businesses to maximize their production and efficiency. With powerful artificial intelligence supporting workflow and processes, automation speed may go to new heights, and with stronger AI in place, more tasks may be automated. Thanks to the increasing expansion of cloud computing, it is now easier for organizations to access faster, more dependable, and more effective storage and computing solutions.
Opportunities
Increasing Awareness about Autonomous Data Platform Benefits to offer Robust Opportunities
The autonomous data systems are capable to encrypt data, monitor any entity attempting to access the data, and track workloads. These platforms allow the businesses to use the data in this way without having to worry about regulatory or reputational damage from an incorrect setting. Additionally, these systems provide exceptional flexibility that enables businesses to alter capacity in accordance with convenience and needs.
Restraints and Challenges
Costlier Integration to act as Market Restraint
The costlier and complex integration coupled with limited customization & support may act as market restraints over the forecast period.
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Autonomous Data Platform Market Segmentation
The global autonomous data platform market is bifurcated based on end use, enterprise, deployment, services, and component.
- By component, platform will lead the market over the forecast period.
- By services, integration will domineer the market over the forecast period.
- By deployment, on-premises will spearhead the market over the forecast period.
- By enterprise, large enterprise will have the lions share in the market over the forecast period.
- By end use, BFSI will head the market over the forecast period.
COVID-19 Analysis
The COVID-19 pandemic has had an influence on the market for autonomous data platforms, and it is anticipated that this industry will continue to develop once the epidemic has passed. This is because more and more people are getting COVID-19 over the world, and because businesses are using work-from-home policies to protect their staff from this deadly virus. Thus, in order to simplify and increase efficiency throughout their company processes, several firms have made large investments in the autonomous data platform solutions. Additionally, the rise in network reliance and network traffic throughout the pandemic era would boost the expansion of autonomous data platform industry. Due to the low availability of staff and the network privileges granted to them during their work-from-home time during the pandemic, the uses of the autonomous data platform solutions went up significantly. Sophisticated analytical tools were used, and autonomous operations were performed on a priority basis.
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Regional Analysis
North America to Head Autonomous Data Platform Market
In 2022, this market was headed by North America (45.80%). Because it is home to the majority of developed economies, which also includes the United States & Canada, the area is considered to be the most advanced in terms of embracing cutting-edge technology and cloud-based solutions. An enormous market expansion is being fueled by the widespread usage of cellphones and the internet in North America. Additionally, in the North American area, the U.S. Autonomous Data Platform market had the greatest market share and the Canada market had the quickest rate of growth. The area is seen to be the most advanced region in terms of embracing the newest technology and cloud-based solutions because it is home to some developed economies, including the United States and Canada. The extensive use of mobile phones & the internet within North America is fueling a huge market boom. The growing use of cellphones and social networking sites to communicate with customers and business partners is another factor contributing towards the market expansion in the area. The regional supply of solutions that provide consumers multifunctional analytics on any cloud while maintaining continuing management and security is creating strong development possibilities for autonomous data platform market in North America.
APAC to Have Admirable Growth in Autonomous Data Platform Market
From 2023 to 2032, the APAC market is anticipated to develop significantly. Since AI & machine learning are being used more and more to assist in decision-making, the sector is expected to continue growing significantly. Additionally, the Indian market had the Asia-Pacific region's fastest growing market and China's Autonomous Data Platform market had the greatest market share. The sector is predicted to continue expanding quickly since decision-making is increasingly aided by AI and machine learning. Additionally, the capacity of businesses to merge client data from myriad sources onto a sole platform, cutting down on hours of computational effort, is facilitating the need for autonomous data platforms. Due to large expenditures made in R&D efforts to provide these platforms improved capabilities, autonomous data platform business is anticipated to see new growth prospects. As a result, over the projection period, the Asia Pacific region will have significant momentum for the autonomous database platforms.
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