Automated Data Platform Market: Current Analysis and Forecast (2022-2030)

An automated data platform is a system that uses software and other technologies to streamline and automate the process of collecting, processing, analyzing, and managing data. It can be designed to handle large volumes of data from different sources and formats, and use artificial intelligence and machine learning algorithms to extract insights and generate reports automatically. An automated data platform can help organizations save time and resources, reduce errors and increase efficiency in data management and analysis.

The Automated Data Platform Market is expected to grow at a strong CAGR of 21.6% during the forecast period owing to the increasing implementation of cognitive computing and advanced analytic technology. Moreover, the increasing growth of digitization and automation across industries, the increasing demand for real-time information, and the arrival of cutting-edge technologies such as Machine Learning (ML) and Artificial Intelligence (AI) are such factors that are driving the growth of the market. Moreover, the companies are adopting strategies like investments , merge and acquisitions to help the market grow and expand the business opportunities. For instance, In May 2022, Oracle and Informatica, a company that offers cloud-based tools for managing corporate data, joined forces to provide top-of-the-line cloud information management, connectivity, and regulatory solutions, as well as databases, database servers, big data solutions, data lake houses, business analytics, and data science tools.

Based on component, the market is segmented into services that are subsegmented into platform, , advisory, integration, support, and maintenance. Amongst these, the platform segment held significant market share in 2021, owing to the increase in growth of technical developments, such as the growth of digital and cloud-based platforms, as well as an increase in the demand for analytics, which is predicted to increase the segment's expansion.

On the basis of deployment, the market is bifurcated into on-premise and cloud deployment. The cloud segment holds the higher growth in the market and is expected to growth with a significant CAGR over the forecast period. The flexibility and cost-effectiveness of cloud-based , virtual environment enables enterprises to access information across interconnected devices at any time, and the implementation of cloud-based solutions boosts the simplicity of delivery of services which are the major factors driving the growth of the segment. Moreover, there is large increase in the spending for cloud deployments products. For instance, According to the International Data Corporation (IDC) Worldwide Quarterly Enterprise Infrastructure Tracker: Buyer and Cloud Deployment, spending on compute and storage infrastructure products for cloud deployments, including dedicated and shared environments, increased 17.2% year over year in the first quarter of 2022 (1Q22) to $18.3 billion.

Based on organization size, the market is segmented into small & medium enterprises and large enterprises. Among these, the large enterprise's platform segment will lead in the forecast period. This is because small & medium enterprises prefer manual power over automated data platforms. Whereas large enterprises deal with a huge amount of structured and unstructured data, therefore, they are largely dependent on data automation. Furthermore, automated data platforms provide long-term sustainability of data programs.

Based on industries, the market is segmented into BSFI, healthcare, retail, government and others. Among these BFSI held a considerable share of the market in 2021. The autonomous data infrastructure has been substantially embraced by the BFSI industry. In order to provide customized one-on-one client encounters, businesses use analytics technologies to extract information. Which helps them to drive the growth of the segment.

For a better understanding of the market adoption of the automated data platform industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Rest of World. North America had the greatest revenue share. The region is thought to be the most advanced region in terms of adopting the newest technology and cloud-based solutions because it is home to most developed economies, including the United States and Canada. The extensive use of mobile phones and the internet in North America is fueling a huge market boom.

Some of the major players operating in the market include: Oracle; Amazon Web Services, Inc ; Teradata; IBM; Hewlett Packard Enterprise Development LP; Cloudera, Inc.; Qubole Inc.; Ataccma; Gemini Trust Company, LLC.; Denodo Technologies