What Fueled The Previous Growth In The AI In Data Management Market?
The ai in data management market has seen considerable growth due to a variety of factors.
• The market for AI in data management has seen significant expansion in the past few years. It's predicted to increase from $34.76 billion in 2024 to $43.85 billion by 2025, demonstrating a compound annual growth rate (CAGR) of 26.2%.
The notable growth during the historical period can be linked to the rise in data production, the advancements in machine learning technology, the widespread move towards cloud computing, digital transformations, and mounting issues concerning data privacy and security.
How Does the Forecast Look for the AI In Data Management Market Size In The Coming Years?
The ai in data management market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions suggest the AI in data management market size is set to undergo remarkable growth in the coming years. Its value is projected to ascend to $109.82 billion in 2029, with a compound annual growth rate (CAGR) of 25.8%.
This growth during the forecast period can be linked to the burgeoning healthcare sector, increased adoption of AI in automation, incorporation of AI into business procedures, and a heightened emphasis on data analytics for crucial business insights. Key trends to watch during this forecast period encompass data fabric for effortless integration, AI and automation, low-code/No-Code platforms, as well as a focus on data security and privacy.
What Are The Leading Drivers Of Growth In The AI In Data Management Market?
The move towards cloud-based solutions is anticipated to spur the expansion of the AI in data management market. Cloud services, which include a wide range of applications and computing resources provided over the internet on a subscription basis, are seeing increased popularity due to their capacity to boost remote work, promote digital transformation, and satisfy modern businesses' demand for scalability and agility. AI in cloud-based data management systems automates data integration, analysis, and rule-setting, promoting efficient, scalable, and intelligent data processing and decision-making. As reported by Eurostat, a Luxembourg-based intergovernmental organization, in December 2023, 45.2% of businesses in the European Union utilized cloud computing services primarily for hosting email systems, storing electronic files, and performing diverse tasks. This represented a 4% increase in cloud computing service acquisition among EU businesses compared to 2021. Large enterprises, in particular, recorded a substantial uptake, with 77.6% reporting the purchase of such services in 2023, reflecting a growth of 6% from 2021. Hence, the transition towards cloud-based solutions is propelling the AI in data management market's growth.
How Are The Segments Defined Within The Global AI In Data Management Market?
The AI in data managementmarket 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
Subsegments:
1) By Solution: Data Integration Solutions, Data Analytics Solutions, Data Governance Solutions, Data Visualization Solutions, Data Quality Management Solutions, Data Security And Privacy Solutions, Cloud-Based Data Management Solutions, AI-Powered Data Warehousing Solutions
2) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services, Training And Education Services, Integration Services, Data Migration Services
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How Are New Trends Expected To Influence The Growth Of The AI In Data Management Market?
Leading businesses in the AI in data management market are shifting their attention toward the creation of cutting-edge solutions like AI-based intelligent data management cloud platforms to gain a market advantage. These AI-powered platforms are innovative, cloud-dependent systems that use artificial intelligence (AI) to improve and automate several data management functions. To illustrate, in April 2024, the US software firm Informatica Inc. introduced the first AI-driven Intelligent Data Management Cloud (IDMC) in Saudi Arabia. The IDMC, which uses Informatica's CLAIRE AI technology, automates data management activities, enhances data integration, and improves overall business results. Being a complete cloud-native solution, IDMC integrates, unites, and democratizes data, helping organizations adequately manage their data across multiple cloud and hybrid environments. The platform is designed to support data-driven transformations by employing AI and machine learning to streamline procedures and enhance decision-making.
Who Are the Key Players In The AI In Data Management Market?
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
What Is The Most Dominant Region In The AI In Data Management Market?
North America was the largest region in the AI in data management market in 2024. 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.
