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Data Pipeline Tools Market to Reach USD 45.6 Billion by 2030: Fueled by the Data Deluge and Digital Transformation

04-05-2024 03:06 PM CET | IT, New Media & Software

Press release from: SNS Insider

Data Pipeline Tools Market to Reach USD 45.6 Billion by 2030:

The SNS Insider report indicates that the Data Pipeline Tools Market Size was valued at USD 7.8 billion in 2022, and is expected to reach USD 45.6 billion by 2030 and grow at a CAGR of 24.7% over the forecast period 2023-2030, encompasses software solutions designed to automate the movement and transformation of data between various systems. These tools play a vital role in data analytics, data science, AI, and machine learning initiatives by ensuring data is readily available in a usable format for analysis. As businesses increasingly embrace cloud storage and grapple with the ever-growing volume of data (an estimated 2.5 quintillion bytes generated daily!), data pipeline tools offer a crucial solution for efficient data management and utilization.

Market Analysis:
The rise of cloud computing and big data is a key driver of the data pipeline tools market. Cloud storage provides a flexible and budget-friendly solution for data, while data pipelines act as a smooth bridge to transfer it seamlessly to the cloud. Additionally, data pipeline tools empower businesses to extract data from diverse sources, clean and transform it, and deliver it to the right analytics or AI application, ensuring data quality and timely insights. By reducing data latency and improving data quality, data pipelines are essential for organizations seeking to unlock the true value of their data.

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Major The Key Players of Data Pipeline Tools Market
 Google LLC
IBM
Microsoft Corporation
Software AG
Actian Corporation
Oracle
Amazon Web Services, Inc
 Hevo Data Inc
K2VIEW
Snap Logic Inc

Segment Analysis:
The data pipeline tools market caters to a wide range of industries. The healthcare and life sciences vertical is projected to witness the highest CAGR during the forecast period. With the healthcare industry embracing digital transformation, data pipelines are key to unlocking the power of data. This empowers healthcare providers to make informed decisions based on real-world evidence, ultimately leading to better patient care and improved operational efficiency.
On the other hand, the IT and ITeS (Information Technology Enabled Services) segment holds a significant market share due to the inherent need for data management within these industries. Across industries, IT teams are grappling with a data deluge. Data pipeline tools are their secret weapon, automating data transfers, handling processing tasks automatically, and ensuring data quality. With data complexity only increasing, the IT sector's reliance on these tools will continue to soar.

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Key Market Segments
By Product Type
Batch Data Pipeline
ETL Data Pipeline
Streaming Data Pipeline
Others

By Deployment Mode
On-Premises
Cloud Based

By Application
Big Data Analytics
Customer Relationship Management
Real Time Analytics
Sales and Marketing Management
Others

By Component
Tools
Services

Impact of the Russia-Ukraine War:
The ongoing conflict between Russia and Ukraine has disrupted global supply chains, leading to increased costs and uncertainty for businesses. This has impacted the data pipeline tools market, with some companies experiencing a decline in sales, profits, and employee morale. For instance, financial services companies and retail businesses have been particularly affected by the war, facing rising compliance costs and market volatility. This has translated into decreased sales for some data pipeline tool vendors catering to these sectors. Informatica, a leading data integration and data quality solutions provider, reported a 10% revenue decline in the first quarter of 2023, and its stock price has plummeted significantly.

Impact of the Ongoing Recession:
The global recession is casting a shadow on the data pipeline tools market. As businesses tighten their budgets and delay or cancel projects, the demand for data pipeline tools has softened. Technology companies have been particularly affected, leading to decreased sales and profits for some data pipeline tool vendors in this sector.

Regional Analysis:
North America is expected to remain the dominant region in the data pipeline tools market, holding a market share exceeding 34.7% in 2022. This dominance can be attributed to several factors, including, large investments in cutting-edge technologies like AI and machine learning. Data pipelines are crucial for fueling AI algorithms, as they provide the clean and transformed data required for these applications to function effectively and High concentration of leading technology companies and a strong focus on digital transformation initiatives across industries.
The Asia Pacific region is expected to have the highest compound annual growth rates of 25.7% over the forecast period. The Asia Pacific is expected to be the fastest growing region over the next few years, due to a variety of measures undertaken by various companies in order to reduce its latency. For instance, in November 2022, Nokia and Optus, an Australian telecommunications company, announced that they would build a network between Melbourne and Sydney which was ultra-low latency.

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Key Takeaways from the Data Pipeline Tools Market Study:
Data Surge Fuels Growth: Ever-increasing data volumes drive demand for data pipeline tools to manage and analyze information effectively.
Cloud Adoption and Data Quality: Cloud storage and data pipelines work together for seamless data movement and improved data quality, unlocking valuable insights.
Healthcare and IT Lead the Way: The healthcare sector leverages data pipelines for better patient care, while the IT sector utilizes them for efficient data management.
Geopolitical Issues Cause Disruptions: The Russia-Ukraine war and global recession create uncertainty, impacting sales and employee morale in some data pipeline tool companies.

Recent Developments:
Snap Logic: Snap Logic announced the launch of the Snap Logic Accelerator for Amazon Health Lake in June 2022. It's going to give healthcare companies an insight into the health care sector. In addition, it is expected that it will contribute to the automation of processes and improve the overall healthcare experience for healthcare organisations.
Hevo: Hevo announced in March 2023 that it was integrating its platform with Google Cloud Dataproc, allowing businesses to build and manage data pipelines that process data on Google Cloud Platform.

Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US)

About Us
SNS Insider stands out as a distinguished market research and insights firm, boasting numerous accolades and a sterling reputation for excellence in service and strategy. Serving as your strategic ally, we specialize in reshaping challenges and uncovering solutions to even the most complex business dilemmas. Harnessing the power of expertise and interpersonal connections, we drive profound consumer insights and elevate client experiences. When you engage our services, you embark on a journey with seasoned and adept professionals. We prioritize collaboration with our clients, recognizing the paramount importance of tailoring each project to their unique requirements. After all, nobody comprehends your customers or community better than you do. Hence, our team adeptly crafts the right inquiries that resonate with your audience, ensuring the collection of unparalleled information

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