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Increasing Volume Of Data Generation Propels Datafication Market Growth: A Key Factor Shaping the Future of the Datafication Market in 2025
Datafication Market
The surge in data creation is anticipated to fuel the expansion of the datafication market. The term data generation involves the creation of new data via various methods, such as data gathering from different sources, carrying out surveys, conducting experiments, or creating data through algorithms and simulations. This trend emerges from the impact of digital technologies and the rising global economic interconnectedness. Datafication plays a vital role in data generation as it metamorphoses different facets of businesses, customers, and users into measurable, functional, and actionable data, aiding in gathering, analyzing, and using large volumes of data. For example, The Linux Foundation's report in December 2022 showcased a significant data growth in average end-user organizations, hitting 2,208 TB, marking a 215.43% surge from the 700 TB noted in 2021. Consequently, the escalation in data production is stimulating the expansion of the datafication market.
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What growth opportunities are expected to drive the datafication market's CAGR through 2034?
The rapid expansion of the datafication market is evident in recent years. The market, standing at $392.39 billion in 2024, will shoot up to $443.24 billion in 2025, marking a compound annual growth rate (CAGR) of 13.0%. This surge in the historic phase can be traced back to the enhancement of Internet connectivity, the meteoric rise of data volumes, the advent of cutting-edge analytical tools, the onset of cloud computing, and the escalating digital transformation of businesses.
The market size for datafication is anticipated to witness substantial growth in the coming years, expanding to $718.75 billion by 2029 with a compound annual growth rate (CAGR) of 12.8%. The growth projection for this period can be credited to factors such as an increased focus on data privacy and security, the speed up of 5G networks, advancements in quantum computing, the proliferation of data regulation and compliance measures, as well as the increase in internet of things (IoT) devices. Looking ahead, the forecast period is expected to see trends such as augmented analytics, personalized customer experiences, the rise of smart cities and urban planning, improved cybersecurity solutions, in addition to sustainable and ethical data practices.
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What are the emerging trends shaping the future of the datafication market?
Prominent entities in the datafication market are focusing on the creation of cutting-edge solutions, like novel business analytics enterprise software aimed at dismantling data silos, so as to secure a strategic advantage within the marketplace. This type of software is designed to assist organizations in merging data from various sources and eliminating data silos, thereby facilitating quick data-led choices and efficient navigation of unexpected disruptions. To illustrate, the International Business Machines Corporation (IBM), an American multinational technology firm, introduced IBM business analytics enterprise software in November 2023. This new software can dismantle data silos and streamline planning and analytics. The platform includes features like data silo disruption and business intelligence functions, paired with state-of-the-art technologies such as AI-driven planning and multidimensional analysis. Its relevance in the datafication market stems from its role in helping businesses become more reliant on data by offering all-inclusive access to analytics tools, disrupting data and analytics silos, and promoting well-organized planning and data-informed decision-making processes.
Which growth-oriented segments of the datafication market are leading the industry's development?
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 regions are leading the charge in 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.
What companies are at the forefront of innovation 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.
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What Is Covered In The Datafication Global Market Report?
• Market Size Forecast: Examine the datafication market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the datafication market for a structured understanding.
• Key Players Overview: Analyze major players in the datafication market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the datafication market.
• Segment Contributions: Evaluate how different segments drive overall growth in the datafication market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the datafication market.
• Industry Challenges: Identify potential risks and obstacles affecting the datafication market.
• Competitive Landscape: Review strategic developments in the datafication market, including expansions, agreements, and new product launches.
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