Press release
2025-2034 Datafication Market Roadmap: Insights for Competitive Advantage
Datafication Market
How Large Will the Datafication Market Size By 2025?
In recent times, there has been a swift expansion in the size of the datafication market. The projection is for it to increase from $392.39 billion in 2024 to $443.24 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 13.0%. Factors contributing to this growth during the historic period include the surge of internet connectivity, the dramatic increase in data volumes, the formulation of sophisticated analytics tools, the rise of cloud computing, and the escalating digital transformation of businesses.
How Big Is the Datafication Market Size Expected to Grow by 2029?
The market size of datafication is predicted to undergo substantial growth in the coming years, expanding to a value of $718.75 billion by 2029, with a CAGR of 12.8%. The growth projection for this period can be ascribed to increased focus on data protection and privacy, the fast-paced development of 5G networks, advances in quantum computing, the rise in data regulation and compliance requirements, and the growth of the Internet of Things (IoT) devices. Key trends expected during this forecast period include the rise of augmented analytics, customization of customer experiences, smart city development and urban planning strategies, improvement in cybersecurity solutions, and the adoption of both sustainable and ethical data procedures.
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Which Key Market Drivers Powering Datafication Market Expansion and Growth?
The surge in data production is predicted to fuel the expansion of the datafication market. Data production encompasses the creation of fresh data from numerous sources, such as data collection, surveys, experiments, or algorithm- and simulation-based data generation. This surge is directly linked to the impact of digital technologies and the escalating global economic interconnectivity. Datafication, a tool used in data production, transforms various business, customer, and user aspects into measurable, beneficial, and actionable data, making it easier to gather, analyze, and use large volumes of data. An example of this is a report from The Linux Foundation in December 2022, which revealed a significant boost in data growth for average end-user organizations, attaining 2,208 TB. This is a 215.43% increase from the 700 TB noted in 2021. As such, the burgeoning production of data is stimulating the expansion of the datafication market.
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Which Fast-Growing Trends Are Poised to Disrupt the Datafication Market?
Prominent corporations within the datafication market are focusing on creating superior solutions, like innovative business analytics enterprise software designed for the elimination of data silos, in order to obtain a leading position in the market. This software serves to aid companies in collecting data from varied sources and eradicating data silos, allowing them to make swift, data-driven decisions and handle unforeseeable disturbances. An example being, in November 2023, International Business Machines Corporation (IBM), an American multinational tech firm, introduced IBM business analytics enterprise, a fresh software for dissolving data silos and streamlining planning and analytics. This platform provides functionalities such as data silo dissolution and business intelligence abilities, along with tech advancements like AI-empowered planning and multidimensional analysis. In the datafication market, it holds importance in helping businesses to enhance their data-centric approach by offering comprehensive access to analytical tools while breaking down data and analytical silos, thereby promoting organized planning and data-fuelled decision making.
What Are the Emerging Segments in the 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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Datafication Industry?
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.
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