How Has the Datafication Market Size Evolved in Recent Years?
The datafication market has seen considerable growth due to a variety of factors.
• The growth in the market size for datafication has been swift over the past few years. It's estimated to expand from $392.39 billion in 2024, reaching $443.24 billion in 2025, with a compound annual growth rate (CAGR) of 13.0%.
The surge in growth during the historical period can largely be credited to the widespread availability of internet connectivity, the astronomical expansion of data volume, the development of sophisticated analytics tools, the rise of cloud computing, and the escalated digitization of businesses.
What Are The Predictions for The Datafication Market in the Coming Years?
The datafication market is expected to maintain its strong growth trajectory in upcoming years.
• It is projected that the market size for datafication will experience significant expansion in the coming years, reaching $718.75 billion by 2029, with a compound annual growth rate (CAGR) of 12.8%.
The anticipated growth during the forecast period can be attributed to factors such as increasing focus on data security and privacy, the acceleration of 5G networks, the evolution of quantum computing, the rise in data regulation and compliance measures, and the expansion of internet of things (IoT) devices. Trends expected to dominate the forecast period include augmented analytics, personalized customer experiences, the rise of smart cities and urban planning, improved cybersecurity solutions, and the adoption of sustainable and ethical data practices.
Which Drivers Are Accelerating Growth In The Datafication Market?
The growth of the datafication market is anticipated to surge due to the escalating volume of data being created. The term data generation encompasses the creation or production of new data via different methods such as data collection from various sources, implementing surveys, performing experiments, or generating data through algorithms and simulations. The accelerating influence of digital technologies and the expanding globalization of the economy leads to data generation. In the realm of data generation, datafication plays a crucial role as it converts multiple facets of businesses, consumers, and users into measurable, applicable, and purposeful data. This enables the gathering, analysis, and use of tremendous amounts of information. For instance, The Linux Foundation unveiled in a December 2022 report that the average end-user organizations have seen a massive spike in data growth, hitting 2,208 TB, which is a 215.43% jump from the 700 TB logged in 2021. Thus, the surge in data generation volume is propelling the datafication market's expansion.
What Are The Core Segments Of The Global Datafication Market?
The datafication market covered in this report is segmented –
1) By Type: Behavioral Datafication, Social Datafication, Geospatial Datafication, Transactional Datafication, Sensor Datafication
2) By Component: Solutions, Services
3) By Deployment: Cloud, On-Premises
4) By Application: Blockchain, AIops, Cognitive Computing, Edge Computing, FinOps, Other Applications
5) By Vertical: Banking Financial Services And Insurance (BFSI), Healthcare, IT And Telecom, Retail, Government And Defense, Manufacturing, Media And Entertainment, Other Verticals
Subsegments:
1) By Behavioral Datafication: User Interaction Tracking, Engagement Analytics, Preference And Habit Analysis
2) By Social Datafication: Social Media Data Analysis, Network And Relationship Mapping, Sentiment Analysis
3) By Geospatial Datafication: Location Tracking And Analytics, Geographic Information Systems (GIS), Mapping And Spatial Analysis
4) By Transactional Datafication: Sales And Purchase Data Analysis, Customer Transaction Tracking, Financial Transaction Analysis
5) By Sensor Datafication: IoT Sensor Data Collection, Environmental Monitoring, Smart Device Data Analytics
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What Trends Are Shaping The Datafication Market?
Leading organizations in the datafication market are focusing on creating cutting-edge solutions like novel business analytics enterprise software to dismantle data silos and gain a competitive advantage. This software allows companies to merge data from various sources and remove data silos, thus enhancing their ability to make fast, data-informed decisions amidst unanticipated disturbances. For example, in November 2023, IBM, a multinational technology corporation based in the US, introduced the IBM business analytics enterprise software, a new tool designed to dismantle data silos and facilitate smooth planning and analytics. This platform encompasses features such as data silo destruction and business intelligence capabilities, in addition to tech advancements like AI-driven planning and multidimensional analysis. Its crucial function in the datafication market includes allowing businesses to evolve into more data-dependent entities by providing extensive access to analytic instruments and getting rid of data and analytics silos, thus promoting organized planning and data-informed decision-making.
Who Are the Key Players In The Datafication Market?
Major companies operating in the datafication market are:
• Amazon Web Services Inc.
• Alphabet Inc
• Microsoft Corporation
• Dell EMC
• The International Business Machines Corporation
• Oracle Corporation
• SAP SE
• ABB Group
• Hewlett-Packard Enterprise (HPE)
• Emerson Electric Co.
• SAS Institute Inc.
• Teradata Corporation
• Workiva Inc.
• DataRobot Inc.
• Xceptor
• Matillion Limited
• Dbt Labs Inc.
• mParticle
• Veryfi Inc.
• Coalesce.io
• Search Discovery Inc.
• Crosser Technologies
• Decodable
• Osmos
• Precog
• Flatfile Inc.
What Are The Regional Insights Into The Datafication Market?
North America was the largest region in the datafication market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the datafication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
