DUBLIN–(BUSINESS WIRE)–The “Autonomous Data Platform Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)” report has been added to ResearchAndMarkets.com’s offering.
The Global Autonomous Data Platform Market is expected to register a CAGR of 21.7% over the period 2021-2026. The growing adoption of cognitive computing technology and advanced analytics as well as the rising volume of complex and unstructured data drive market growth.
Across the world, people are swapping information that is going to develop in the coming years. Domo Inc. estimated that 1.7MB of data will be created every second for every person on earth by 2020 end. Additionally, rising demand for autonomous data platforms from SMEs and accelerating adoption of cloud technology are the determinants for the growth of this market.
- Big Data has turned out to be one of the widespread technologies being utilized by companies today. An autonomous data platform controls and optimizes the big data infrastructure. According to the most contemporary Shopping Index of Salesforce, digital commerce grew at a rate of 13% year-over-year in Q4 2018, and projected retail e-commerce sales exceeding USD 4 trillion through 2020. The US Census Bureau reported that 87% of the US customers began their hunt in digital channels in 2019, up from 71% the previous year. This calls for enhanced use of big data services for the cloud.
- Owing to the advantages the technology grants, cloud computing is witnessing an accelerated development in its adoption. According to Forbes, the market for cloud computing will increase to USD 160 billion by 2020, achieving a growth rate of 19%. Cloud-based deployment anticipated to have meaningful growth during the forecast period. Enhanced collaboration, Scalability, and cost-effectiveness offered by the cloud platform are expected to encourage the demand for cloud-based autonomous data platforms.
- The propagation of the Internet will feed this increase in the number of devices and autonomous data tool. The Internet happens to the principal reason for this growth in data. According to the Cisco VNI report, there will be about 4.8 billion internet subscribers in 2022, 60% of the global population. According to Cisco VNI Global IP Traffic Forecast, the other significant factor for the increase in consumption of data will be the rise in global average Wi-Fi speeds that are exacted to more than double in Asia-Pacific in 2022 as compared to 2017.
- However, complicated analytical process, lack of skilled and trained professional, and problem associated with the maintaining sync between quality and safety acts as a restricting factor for this market growth. Moreover, growing popularity of cognitive computing technology and the increasing need for advanced analytics will provide adequate opportunities for the growth of the market.
- The principal factors driving the growth of COVID-19 impact on the Big Data Analytics industry and hence Autonomous Data Platform Market are increasing demand for digital transformation, increased investments in analytics, growing demand for remote services and location data, and increasing need for real-time information track and monitor the COVID-19 spread.
- Especially during the COVID-19 pandemic – including efforts to contain its spread and help businesses stay afloat – the need to extract, visualize, and execute this intelligence in near-real-time is increasingly becoming a mission-critical objective, thus giving a boost to the Autonomous Data Platform Market.
Key Market Trends
- Retail Vertical Expected to Register Significant Growth
- North America to Hold the Largest Market Share
The Autonomous Data Platform Market is concentrated with major legacy players dominating the market like IBM, Microsoft, and Teradata Corporation. Since companies are concerned regarding the privacy and management of their employee/customer data, they trust established vendors more rather than new entrants. The proliferation of data has pushed data management platform vendors, such as Oracle, MapR, and AWS, to develop and design autonomous data platforms that help IT teams simplify and manage processes. The autonomous data platform providers are competing with each other to expand their market coverage and increase their presence in newer markets.
- June 2020 – Anaconda, Inc. provider of the leading Python data science platform and IBM Watson announced a new collaboration to help simplify enterprise adoption of AI open-source technologies. By working together, the two companies plan to help fuel innovation and address the AI and data science skills gap that many enterprises face. Anaconda Team Edition repository will be integrated with IBM Watson Studio on IBM Cloud Pak for Data, enabling organizations to better govern and speed the deployment of AI open-source technologies across any cloud.
- Feb 2020 – Oracle announced the availability of the Oracle Cloud Data Science Platform. At the core is Oracle Cloud Infrastructure Data Science, helping enterprises to collaboratively build, train, manage and deploy machine learning models to increase the success of data science projects, helping improve the effectiveness of data science teams with capabilities like shared projects, model catalogs, team security policies, reproducibility and auditability.
Key Topics Covered
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Adoption of Cognitive Computing Technology and Advanced Analytics
4.2.2 Expanding Volume of Unstructured Data due to the Phenomenal Growth of Interconnected Devices and Social Media
4.3 Market Restraints
4.3.1 Complex Analytical Process Requiring Skilled Professionals Services
4.4 Industry Attractiveness – Porter’s Five Force Analysis
4.5 Industry Value Chain Analysis
4.6 Analysis on the impact of COVID-19 on the Autonomous Data Platform Market
5 MARKET SEGMENTATION
5.1 By Organization Size
5.1.1 Large Enterprises
5.1.2 Small and Medium-Sized Enterprise
5.2 By Deployment Type
5.2.1 Public Cloud
5.2.2 Private Cloud
5.2.3 Hybrid Cloud
5.3 By End-user Vertical
5.3.2 Healthcare and Life Sciences
5.3.3 Retail and Consumer Goods
5.3.4 Media and Telecommunication
5.3.5 Other End-user Verticals (Government, Manufacturing)
5.4.1 North America
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Oracle Corporation
6.1.2 International Business Machines Corporation
6.1.3 Amazon Web Services
6.1.4 Teradata Corporation
6.1.5 Qubole Inc.
6.1.6 MapR Technologies, Inc.
6.1.7 Alteryx Inc.
6.1.8 Ataccama Corporation
6.1.9 Cloudera, Inc.
6.1.10 Gemini Data Inc.
6.1.11 Datrium, Inc.
6.1.12 Denodo Technologies
6.1.13 Paxata, Inc.
6.1.14 Zaloni Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/zgeqiw
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