The ai in data management global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
AI In Data Management Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The AI in data management market size has grown exponentially in recent years. It will grow from $27.64 billion in 2023 to $34.76 billion in 2024 at a compound annual growth rate (CAGR) of 25.8%. The growth in the historic period can be attributed to increasing data generation, developments in machine learning technologies, widespread adoption of cloud computing, digital transformation, and data privacy and security concerns.
The AI in data management market size is expected to see exponential growth in the next few years. It will grow to $87.33 billion in 2028 at a compound annual growth rate (CAGR) of 25.9%. The growth in the forecast period can be attributed to the expansion of the healthcare sector, rising use of AI in automation, integration of AI in business processes, and rising focus on data analytics for strategic business insights. Major trends in the forecast period include data fabric for seamless integration, AI and automation, low-code/No-Code platforms, and a focus on data security and privacy.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
A shift towards cloud-based platforms is expected to propel the growth of the AI in data management market going forward. Cloud services refer to a broad category of computing resources and applications delivered over the internet on a subscription basis. Cloud services are rising due to their ability to facilitate remote work, enable digital transformation, and support the scalability and agility needs of modern businesses. Artificial intelligence (AI) in cloud-based data management platforms automates data integration, analysis, and governance, enabling efficient, scalable, and intelligent data processing and decision-making. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of enterprises within the European Union procured cloud computing services, primarily for hosting email systems, storing electronic files, and performing various tasks. Compared to 2021, purchases of cloud computing services among EU enterprises rose by 4% in 2023. Notably, large enterprises exhibited a significant adoption rate, with 77.6% reporting the purchase of such services in 2023, marking a 6% increase from 2021. Therefore, the shift towards cloud-based platforms is driving the growth of the AI in data management market.
Market Trends –
Major companies operating in the AI in data management market are increasing their focus on developing advanced solutions such as AI-powered intelligent data management cloud platforms to gain a competitive edge in the market. AI-powered intelligent data management cloud platforms are advanced cloud-based systems that leverage artificial intelligence (AI) to enhance and automate various aspects of data management. For instance, in April 2024, Informatica Inc., a US-based software company, launched Saudi Arabia’s first AI-powered Intelligent Data Management Cloud (IDMC). The platform utilizes Informatica’s CLAIRE AI technology to automate data management tasks, improve data integration, and enhance overall business outcomes. IDMC is a comprehensive cloud-native solution that connects, unifies, and democratizes data, enabling organizations to effectively manage their data across multi-cloud and hybrid environments. The platform aims to support data-led transformations by leveraging AI and machine learning capabilities to streamline processes and improve decision-making.
The AI in data management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Other Technologies
4) By Application: Data Search And Retrieval, Data Analytics, Data Classification, Data Integration, Data Security, Other Applications
5) By Industry Vertical: Banking Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Healthcare, Retail And E-commerce, Manufacturing, Media And Entertainment, Government And Public Sector, Other Industry Verticals
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Regional Insights –
North America was the largest region in the AI in data management market in 2023. The regions covered in the AI in data management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the AI in data management market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Hewlett Packard Enterprise, SAS Institute, Hitachi Vantara Corporation, Snowflake Inc., Palantir Technologies Inc., Databricks Inc., Teradata Corporation, Informatica Inc., TIBCO Software, Alteryx Inc., Qlik, Talend S.A., Sumo Logic Inc., Dataiku, TheMathCompany, Civis Analytics, Sisense< /b>
Table of Contents
1. Executive Summary
2. AI In Data Management Market Report Structure
3. AI In Data Management Market Trends And Strategies
4. AI In Data Management Market – Macro Economic Scenario
5. AI In Data Management Market Size And Growth
…..
27. AI In Data Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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