In 2020, the global market for autonomous data platforms at $622.56 million, with a CAGR of 22.8% between 2021 to 2027. Advancement is being made in artificial intelligence and cloud computing every day. Enterprises have more opportunities to optimize productivity and efficiency because of these advancements in technology. Automation speed may increase to new levels with strong artificial intelligence supporting processes and workflow, and more tasks may be automated with a stronger AI in place. Faster, more reliable, and more efficient storage and computing solutions are now becoming easier for businesses to access thanks to the rapid growth of cloud computing.
Key Highlights of the Autonomous Data Platform Market
- The platform segment held the majority of the global market share for autonomous data platforms in 2020.
- As web and cloud platforms become more prevalent, the necessity for analytics will increase. It will maintain the market's dominance in the upcoming years.
- Other factors make market development more positive, like actionable intelligence to reduce data loss and prioritize network-based paradigms.
Regional Outlook for Autonomous Data Platform Market
A growing number of organizations in several European countries combined with inconsistent data has resulted in autonomous data platforms and services. As European companies compete worldwide and worry about regulatory compliance, they face data-related challenges. Electronic control unit (ECU) manufacturers are introducing new technologies and business models to match the dynamic business needs of enterprises. Due to constant technological advances in the region, customers' preferences changed, and, as a result, most of the latest technologies evolved, changing business models for data-driven industries. To extract value from data repositories, large enterprises in this region implement autonomous data platforms and services.
The three countries with the highest contribution to the Europe market growth will be Germany, France, and the United Kingdom. There is often an increase in inconsistency across enterprises that contributes to this trend. This region has also seen the growth of the Autonomous Data Platform market attributed to the introduction of the latest technologies and changes in businesses models.
Aim of the Report
The autonomous data platform market can be classified into components, deployments, organization sizes, industry verticals, and regions.
Segmentation based on Component
- Integration and support
Segmentation based on Deployment
Segmentation based on Organization Size
- Small enterprise
- Medium enterprise
- Large enterprise
Segmentation based on Industry Vertical
- Healthcare and life sciences
- Telecommunication and media
Segmentation based on Region
- North America
- Asia Pacific
COVID-19 Impact of Autonomous Data Platform Market-
A worldwide COVID-19 pandemic could significantly impact the global autonomous data platform industry, which stands to gain a lot of market share with the epidemic. As a result of the rapid spread of Coronavirus worldwide and the safety regulations created to reduce interactions, work-from-home has become more common. In order to simplify their operations and increase productivity, many businesses have invested in autonomous data platforms.
Due to the government's restrictions intended to stop COVID from spreading, organizations used cloud platforms more frequently for sharing, processing, and analysing their internal data. It made the autonomous data platform market more competitive as individuals who work remotely became required to do so. Due to restricted staff availability and network rights granted to them during work-from-home hours, autonomous data platform solutions proved increasingly useful during the pandemics as advanced analytical tools were employed and autonomous operations substantially prioritized.
Beneficial Effects for Stakeholders
- A detailed analysis of the autonomous data platform market is provided and looks at current trends and future estimates to identify investment pockets.
- This report provides an overview of the key drivers, restraints, and opportunities for the Autonomous Data Platform Market and their impact analysis.
- It emphasizes how powerful buyers and suppliers are within an industry through Porter's five forces analysis.
- Gemini Data
- Qubole Inc.