Market Size of Autonomous Data Platform Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.77 Billion |
Market Size (2029) | USD 4.46 Billion |
CAGR (2024 - 2029) | 20.33 % |
Fastest Growing Market | Europe |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Autonomous Data Platform Market Analysis
The Autonomous Data Platform Market size is estimated at USD 1.77 billion in 2024, and is expected to reach USD 4.46 billion by 2029, growing at a CAGR of 20.33% during the forecast period (2024-2029).
The growing adoption of cognitive computing technology and advanced analytics as well as the rising volume of complex and unstructured data drive market growth. Across the world, people are swapping information that is going to develop in the coming years. Domo Inc. estimated that 1.7MB of data will be created every second for every person on earth by 2020 end. Additionally, rising demand for autonomous data platforms from SMEs and accelerating adoption of cloud technology are the determinants for the growth of this market.
- Big Data has turned out to be one of the widespread technologies being utilized by companies today. An autonomous data platform controls and optimizes the big data infrastructure. According to the most contemporary Shopping Index of Salesforce, digital commerce grew at a rate of 13% year-over-year in Q4 2018, and projected retail e-commerce sales exceeding USD 4 trillion through 2020. The US Census Bureau reported that 87% of the US customers began their hunt in digital channels in 2019, up from 71% the previous year. This calls for enhanced use of big data services for the cloud.
- Owing to the advantages the technology grants, cloud computing is witnessing an accelerated development in its adoption. According to Forbes, the market for cloud computing will increase to USD 160 billion by 2020, achieving a growth rate of 19%. Cloud-based deployment anticipated to have meaningful growth during the forecast period. Enhanced collaboration, Scalability, and cost-effectiveness offered by the cloud platform are expected to encourage the demand for cloud-based autonomous data platforms.
- The propagation of the Internet will feed this increase in the number of devices and autonomous data tool. The Internet happens to the principal reason for this growth in data. According to the Cisco VNI report, there will be about 4.8 billion internet subscribers in 2022, 60% of the global population. According to Cisco VNI Global IP Traffic Forecast, the other significant factor for the increase in consumption of data will be the rise in global average Wi-Fi speeds that are exacted to more than double in Asia-Pacific in 2022 as compared to 2017.
- However, complicated analytical process, lack of skilled and trained professional, and problem associated with the maintaining sync between quality and safety acts as a restricting factor for this market growth. Moreover, growing popularity of cognitive computing technology and the increasing need for advanced analytics will provide adequate opportunities for the growth of the market.
- The principal factors driving the growth of COVID-19 impact on the Big Data Analytics industry and hence Autonomous Data Platform Market are increasing demand for digital transformation, increased investments in analytics, growing demand for remote services and location data, and increasing need for real-time information track and monitor the COVID-19 spread.
- Especially during the COVID-19 pandemic - including efforts to contain its spread and help businesses stay afloat - the need to extract, visualize, and execute this intelligence in near-real-time is increasingly becoming a mission-critical objective, thus giving a boost to the Autonomous Data Platform Market.
Autonomous Data Platform Industry Segmentation
An autonomous data tool analyzes a specific customer's big data infrastructure to address essential business problems and assure optimal database usage. This supports businesses to develop and enhance their data management abilities. They are specifically created to control and optimize big data infrastructure. Many firms are embracing this platform because it encourages the IT professional to manage processes more efficiently.
By Organization Size | |
Large Enterprises | |
Small and Medium-Sized Enterprise |
By Deployment Type | |
Public Cloud | |
Private Cloud | |
Hybrid Cloud |
By End-user Vertical | |
BFSI | |
Healthcare and Life Sciences | |
Retail and Consumer Goods | |
Media and Telecommunication | |
Other End-User Verticals (Government, Manufacturing) |
Geography | |
North America | |
Europe | |
Asia Pacific | |
Latin America | |
Middle East & Africa |
Autonomous Data Platform Market Size Summary
The Autonomous Data Platform Market is poised for significant growth, driven by the increasing adoption of cognitive computing and advanced analytics, alongside the rising volume of complex and unstructured data. This market is experiencing a surge in demand from small and medium enterprises (SMEs) and is benefiting from the accelerated adoption of cloud technology. The proliferation of the Internet and mobile devices has further fueled this growth, as businesses seek to leverage big data to enhance customer engagement and streamline operations. The retail sector, in particular, is witnessing a transformation as autonomous data platforms enable retailers to track customer journeys in real-time, thereby improving customer loyalty and competitive advantage. The integration of big data with artificial intelligence is also playing a crucial role in personalizing customer interactions and optimizing inventory management.
Despite the promising growth prospects, the market faces challenges such as complex analytical processes and a shortage of skilled professionals. However, the demand for digital transformation and real-time information, especially highlighted during the COVID-19 pandemic, has underscored the importance of autonomous data platforms. Major players like IBM, Microsoft, and Teradata Corporation dominate the market, with established vendors gaining trust due to concerns over data privacy and management. The competitive landscape is marked by efforts to expand market coverage and enhance presence in new regions. Collaborations, such as those between Anaconda, Inc. and IBM Watson, aim to simplify the adoption of AI and open-source technologies, further driving innovation in the autonomous data platform space.
Autonomous Data Platform Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Adoption of Cognitive Computing Technology and Advanced Analytics
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1.2.2 Expanding Volume of Unstructured Data Due to the Phenomenal Growth of Interconnected Devices and Social Media
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1.3 Market Restraints
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1.3.1 Complex Analytical Process Requiring Skilled Professionals Services
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1.4 Industry Attractiveness - Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Industry Value Chain Analysis
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1.6 Analysis on the impact of COVID-19 on the Autonomous Data Platform Market
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2. MARKET SEGMENTATION
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2.1 By Organization Size
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2.1.1 Large Enterprises
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2.1.2 Small and Medium-Sized Enterprise
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2.2 By Deployment Type
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2.2.1 Public Cloud
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2.2.2 Private Cloud
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2.2.3 Hybrid Cloud
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2.3 By End-user Vertical
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2.3.1 BFSI
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2.3.2 Healthcare and Life Sciences
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2.3.3 Retail and Consumer Goods
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2.3.4 Media and Telecommunication
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2.3.5 Other End-User Verticals (Government, Manufacturing)
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2.4 Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia Pacific
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2.4.4 Latin America
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2.4.5 Middle East & Africa
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Autonomous Data Platform Market Size FAQs
How big is the Autonomous Data Platform Market?
The Autonomous Data Platform Market size is expected to reach USD 1.77 billion in 2024 and grow at a CAGR of 20.33% to reach USD 4.46 billion by 2029.
What is the current Autonomous Data Platform Market size?
In 2024, the Autonomous Data Platform Market size is expected to reach USD 1.77 billion.