NEWARK, Del, Feb. 12, 2024 (GLOBE NEWSWIRE) -- It is projected that the size of the global DataOps platform market will reach US$ 4.0 billion by 2024. The market is anticipated to expand at a CAGR of 23.3% between 2024 and 2034. By 2034, the market is expected to be valued at US$ 32.7 billion.
In the past, businesses frequently depended on traditional data management methods. These mostly focused on compartmentalized methods of data processing, analysis, and storage. These methods were labor-intensive, manual, and lacked scalability.
Early in the new millennium, there was a demand for a better, more cooperative software solution development and deployment process. The DevOps movement, which aims to continuously integrate automation and data, was born out of this.
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When businesses started implementing DevOps principles in the middle of the 2010s, data quality management in DataOps started to gain traction. The new platform made it easier to apply agile, collaborative, and automated approaches to data management and storage procedures. This further made it possible for firms to avoid problems like data silos, poor data quality, and slow time to insights.
DataOps platform demand is expected to soar in tandem with the government's growing expenditures on cutting-edge technologies. It is anticipated that the government's funding will spur the growth of infrastructure and data analytics skills, which will increase demand for DataOps platforms.
Key Takeaways from the DataOps Platform Market Study:
- In terms of components, the platform segment is projected to showcase a CAGR of around 8% from 2024 to 2034.
- Based on type, the agile development category is anticipated to rise at a CAGR of 1% in the forecast period.
- China’s DataOps platform market is expected to showcase a CAGR of 9% through 2034.
- The United Kingdom is anticipated to attain a value of about US$ 1.3 billion by 2034.
- Japan’s DataOps platform market is expected to rise at a CAGR of 4% from 2024 to 2034.
“The increasing need for workflow management, data processing automation, and predictive analytics is anticipated to drive the integration of machine learning and artificial intelligence (AI) capabilities. Organizations are searching for sophisticated technologies like DataOps platforms to handle a variety of data quantities, formats, and sources as they frequently work with complicated data environments,” - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Leading Key Players:
- Microsoft
- IBM
- Oracle
- AWS
- Informatica
- Teradata
- Wipro
Competitive Landscape:
Top players in the DataOps platform space are concentrating on continuously innovating their internal platforms to offer new functionalities, such as AI tools, automated workflows, real-time monitoring, machine learning capabilities, and big data volume management. In order to offer clients specialized solutions and assistance in utilizing complementary technologies, they are also collaborating with consulting firms and technology vendors. Simultaneously, they are investing in customer assistance in order to provide seamless troubleshooting, customization, and onboarding processes to clients.
For instance,
- The Tantor Data Platform was introduced by Bengaluru-based software business Translab Technologies Pvt Ltd in December 2023. The organization wants to change how businesses use, evolve, and manage data.
- During the Big Data London conference in September 2023, live released a new book titled ‘Data Products for Dummies.’ It is anticipated that those seeking to increase the value of their data assets on a personal and professional level will turn to the book as their go-to source.
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Get More Valuable Insights into the DataOps Platform Market:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the DataOps platform market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on solution type (agile development, DevOps, and lean manufacturing), component (platform and services), application (cloud and on-premises), and region.
DataOps Platform Market Outlook by Category:
By Type:
- Agile Development
- DevOps
- Lean Manufacturing
By Component:
- Platform
- Services
By Application:
- Cloud
- On-premises
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Authored By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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