Dublin, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The "Datafication Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Datafication Market is expected to grow at a healthy CAGR to 2028
Datafication has witnessed a surge in prominence, primarily driven by technological advancements, especially in the realms of data collection, storage, and analysis. The proliferation of digital devices, sensors, and online platforms has given rise to a continuous stream of vast data volumes.
This data originates from diverse sources, including social media interactions, online transactions, IoT devices, sensors, and various other digital channels. The phenomenon of datafication holds the potential to bring about revolutionary changes across industries, facilitating data-centric decision-making and ushering in transformative shifts in various facets of society.
In recent years, the datafication market has experienced remarkable growth, with an increasing number of companies endeavoring to harness data for gaining a competitive edge. This market encompasses a wide spectrum of participants, ranging from data analytics firms and software companies to data brokers and consulting entities.
Several key factors are propelling the global datafication market. These include the growing availability of data, the rising significance of data-driven decision-making, and the emergence of advanced analytics technologies such as artificial intelligence and machine learning.
As these trends continue to shape the business landscape, it is highly likely that the datafication market will persistently expand and evolve, presenting fresh opportunities and challenges to businesses across all scales.
Increasing Availability of Data is Fueling the Market Growth
The availability of large amounts of data is one of the key drivers of the growth of datafication. With the rise of the internet and digital technologies, more and more data is being generated every day. This data can come from a variety of sources, such as social media, sensors, connected devices, and more.
As more and more data become available, businesses are increasingly turning to datafication to gain a competitive advantage. The market for datafication and data-driven decision making is growing rapidly, with companies investing heavily in technologies and tools that can help them extract insights from their data.
Growing Importance of Data-Driven Decision-Making Leads to a Higher Demand for Datafication
The demand for datafication has grown exponentially in recent years as data-driven decision-making has become a fundamental part of many industries, including finance, healthcare, retail, and manufacturing.
With the advent of big data and advanced analytics tools, businesses now have access to vast amounts of data that can be used to drive insights and make informed decisions. As a result, the ability to collect, store, and analyze data has become a critical skill for organizations looking to remain competitive in today's fast-paced, data-driven world.
Increasing demand for high-speed and low-latency wireless connectivity for various applications
The rise of advanced analytics technologies such as artificial intelligence (AI) and machine learning (ML) has played a significant role in the growth of datafication. These technologies have made it possible to process and analyze large amounts of data more quickly and accurately than ever before.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global datafication market.
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- SAP SE
- Google Inc.
- Amazon Web Services
- Hewlett-Packard Enterprise (HPE)
- SAS Institute Inc.
- Teradata Corporation
- Dell EMC
Report Scope:
Datafication Market, By Type:
- Behavioral Datafication
- Social Datafication
- Geospatial Datafication
- Transactional Datafication
- Sensor Datafication
Datafication Market, By Application:
- Blockchain
- AIOps
- Cognitive Computing
- Edge Computing
- FinOps
- Others
Datafication Market, By Vertical:
- BFSI
- Healthcare
- IT and Telecom
- Retail
- Government and Defense
- Manufacturing
- Media and Entertainment
- Others
Datafication Market, By Region:
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Middle East & Africa
- Israel
- Turkey
- Saudi Arabia
- UAE
- South Africa
- South America
- Brazil
- Argentina
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/xfii8e
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