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Rise In Cloud Computing Adoption Fueling The Growth Of The Market Due To Enhancing Data Governance And Automation Through Artificial Intelligence (AI) In Data Quality: An Emerging Driver Transforming The Artificial Intelligence (AI) In Data Quality Market
Artificial Intelligence (AI) In Data Quality
What Is the Projected Growth of the Artificial Intelligence (AI) In Data Quality Market?
The market size of artificial intelligence (AI) in data quality has seen a dramatic expansion in the last few years. It is predicted to escalate from a worth of $1.19 billion in 2024 to reach $1.49 billion in 2025, marking a compound annual growth rate (CAGR) of 25.4%. Factors contributing to this upward trend in the historic period include an upsurge in data across businesses, heightened demand for business intelligence, the uptake of cloud-based data tools, preliminary investments in AI technologies, along with rising requirements for data compliance.
Projected trends indicate a substantial expansion in the size of the AI in data quality market, with an expectation of it soaring to $3.65 billion in 2029, boasting a CAGR of 25.2%. This projected growth in the forthcoming period is linked to a surge in real-time data processing needs, seamless integration with cloud-native platforms, an increased demand for automated data quality tools, and widespread adoption of AI in data governance. A growing emphasis on predictive analytics also contributes to this meteoric rise. The forecast period will witness key trends such as the integration of generative AI for data synthesis, a shift towards self-service data quality platforms, usage of AI in master data management, a merger between AI and data fabric architecture, along with an emphasis on explainable AI in terms of data quality.
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What Are the Different Artificial Intelligence (AI) In Data Quality Market Segments?
The artificial intelligence (AI) in data quality market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Mode: Cloud-Based, On-premise
3) By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises
4) By Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Information Technology (IT) And Telecommunications, Healthcare, Retail And E-commerce, Manufacturing, Government And Public Sector, Other Industry Verticals
Subsegments:
1) By Software: Data Profiling Tools, Data Cleansing Tools, Data Monitoring And Validation Tools, Data Integration Software, Master Data Management (MDM) Solutions, Metadata Management Tools, Predictive Data Quality Analytics
2) By Services: Professional Services, Managed Services, Consulting Services, Implementation And Integration Services, Training And Support Services
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What Are the Primary Drivers Shaping the Artificial Intelligence (AI) In Data Quality Market?
The data quality market's growth is likely to be driven by an increase in the adoption of cloud computing, which facilitates the use of artificial intelligence (AI). The transition from traditional, on-premises IT infrastructure to cloud platforms, which are scalable, cost-effective, and can be accessed from anywhere, is what constitutes cloud computing adoption. This shift is primarily fueled by the digital transformation initiatives across various sectors and the demand for flexible, and agile data management. AI improves the quality of data in the cloud by automating processes such as data profiling, cleansing, and validation, thereby ensuring the accuracy and integrity of data for real-time decision-making. For instance, in December 2023, Eurostat, the statistical office of the European Union based in Luxembourg, reported that 45.2% of EU enterprises used cloud computing in 2023, an increase of 4.2 points from 2021. This was primarily used for email, file storage, and office tools. As such, the growth of AI in the data quality market is being pushed by the increase in cloud computing adoption.
Which Companies Are Leading in the Artificial Intelligence (AI) In Data Quality Market?
Major companies operating in the artificial intelligence (AI) in data quality market are Alphabet Inc., Microsoft Corporation, Amazon Web Services, accenture* plc, International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, Salesforce.com Inc., Experian plc., Collibra, Dataiku, Sas Institute Inc., Teradata, Informatica Inc., Snowflake Inc., Alteryx Inc., QlikTech International AB, Precisely Corporation, TIBCO Software Inc., Databricks Inc., Ataccama Corporation.
What Are the Major Trends Shaping the Artificial Intelligence (AI) In Data Quality Market?
Significant players in the AI in data quality market are turning their attention towards the implementation of generative artificial intelligence to boost data precision and operational effectiveness. GenAI, in essence, pertains to AI systems that have been programmed to create new content such as text, video, audio, or code by extrapolating patterns from existing data. For example, in September 2023, a software company based in the US, Saama Technologies Inc., unveiled a Data Quality (DQ) Co-Pilot within its Smart Data Quality (SDQ) platform. This breakthrough feature employs GenAI to automate data quality inspections. The system allows users to casually specify the type of data quality validation they want, after which it automatically produces and scrutinizes the relevant code. This greatly reduces the need for manual intervention and speeds up clinical trial processes.
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What Are the Top Revenue-Generating Geographies in the Artificial Intelligence (AI) In Data Quality Market?
North America was the largest region in the artificial intelligence (AI) in data quality market in 2024. The regions covered in the artificial intelligence (AI) in data quality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI) In Data Quality Market?
2. What is the CAGR expected in the Artificial Intelligence (AI) In Data Quality Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI) In Data Quality Industry?
4. Which Region Is Leading the Artificial Intelligence (AI) In Data Quality Market?
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