Press release
AI in Data Management Market Growth Accelerates: Strategic Forecast Predicts $109.81 Billion by 2029
AI in Data Management
What Will the AI in Data Management Industry Market Size Be by 2025?
The market size of AI in data management has seen a significant rise in the past few years. The growth is predicted to amplify from $34.76 billion in 2024 to $43.85 billion in 2025 with a compound annual growth rate (CAGR) of 26.2%. This surge during the historic period can be linked to the surge in data production, advancements in machine learning technologies, the broad adoption of cloud computing, the digital transformation, and concerns about data privacy and security.
What's the Long-Term Growth Forecast for the AI in Data Management Market Size Through 2029?
The market size for AI in data management is projected to witness significant surge in the years to come. By 2029, it is set to expand to $109.82 billion, with a CAGR of 25.8%. The acceleration during this forecast timeframe can be tied back to the burgeoning healthcare sector, increased adoption of AI in automation, the integration of AI into business procedures, and a growing emphasis on data analytics to derive strategic business insights. The key trends during this forecast period will be data fabric for smooth integration, AI and automation, low-code/no-code platforms, and a focus on data protection and privacy.
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What Are the Key Growth Drivers Fueling the AI in Data Management Market Expansion?
The transition towards cloud-based platforms is predicted to accelerate the expansion of the AI in data management market. Falling under a general category of internet-delivered computing resources and applications on a subscription model, cloud services are gaining prominence due to their abilities to enhance remote work, catalyze digital transformation, and meet the scaling and agility demands of contemporary businesses. AI in cloud-based data management platforms facilitates automated data integration, analysis, and governance, which promotes effective, expandable, and smart data analysis and decision-making. For example, in December 2023, Eurostat, an intergovernmental organization based in Luxembourg, cited that 45.2% of businesses across the European Union procured cloud computing services bespoke for the hosting of email systems, electronic file storage, and numerous other tasks. Between 2021 and 2023, the buying of cloud computing services by EU businesses surged by 4%. Most noteworthy, larger corporations showed remarkable uptake rates, with 77.6% reporting purchasing such services in 2023, symbolizing a 6% rise from 2021. Therefore, the pivot towards cloud-based platforms is indeed powering the progress of the AI in data management market.
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What Are the Key Trends Driving AI in Data Management Market Growth?
Leading organizations in the AI in data management market are intensifying their efforts to create top-tier solutions such as AI-supported intelligent data management cloud platforms for a prominent standing in the industry. These superior cloud-based technologies use Artificial Intelligence (AI) to magnify and mechanize diverse elements of data management. For example, Informatica Inc., a US-based software firm, introduced the first AI-driven Intelligent Data Management Cloud (IDMC) in Saudi Arabia in April 2024. The platform employs CLAIRE, Informatica's proprietary AI technology, to mechanize data management activities, augment data integration and boost overall business results. The IDMC serves as an all-encompassing cloud-native tool that connects, unifies, and democratizes data, thus supporting companies in efficiently managing data across multi-cloud and hybrid settings. The platform's goal is to assist data-driven transformations by utilizing AI and machine learning capabilities for better process efficiency and decision-making.
How Is the AI in Data Management Market Segmented?
The AI in data managementmarket covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Other Technologies
4) By Application: Data Search And Retrieval, Data Analytics, Data Classification, Data Integration, Data Security, Other Applications
5) By Industry Vertical: Banking Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Healthcare, Retail And E-commerce, Manufacturing, Media And Entertainment, Government And Public Sector, Other Industry Verticals
Subsegments:
1) By Solution: Data Integration Solutions, Data Analytics Solutions, Data Governance Solutions, Data Visualization Solutions, Data Quality Management Solutions, Data Security And Privacy Solutions, Cloud-Based Data Management Solutions, AI-Powered Data Warehousing Solutions
2) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services, Training And Education Services, Integration Services, Data Migration Services
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Which Companies Are Leading the Charge in AI in Data Management Market Innovation?
Major companies operating in the AI in data management market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Hewlett Packard Enterprise, SAS Institute, Hitachi Vantara Corporation, Snowflake Inc., Palantir Technologies Inc., Databricks Inc., Teradata Corporation, Informatica Inc., TIBCO Software, Alteryx Inc., Qlik, Talend S.A., Sumo Logic Inc., Dataiku, TheMathCompany, Civis Analytics, Sisense
Which Regions Are Leading the Global AI in Data Management Market in Revenue?
North America was the largest region in the AI in data management market in 2024. The regions covered in the AI in data management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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