Dublin, Nov. 08, 2019 (GLOBE NEWSWIRE) -- The "Autonomous Data Platform Market by Component (Platform and Services), Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), Deployment Type (On-Premises and Cloud), Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global autonomous data platform market is expected to grow from US$810 million in 2019 to US$2.21 billion by 2024, at a CAGR of 22.2%.
The rise in adoption of cognitive computing technology and advanced analytics, increasing volume of unstructured data (due to the phenomenal growth of interconnected devices and social media), and increasing volume of complex data are the major factors driving the growth of the autonomous data platform market.
The autonomous data platform market includes various major vendors, such as Oracle (US), Teradata (US), IBM (US), AWS (US), MapR (US), Cloudera (US), Qubole (US), Ataccama (Canada), Gemini Data (US), DvSum (US), Denodo (US), Zaloni (US), Datrium (US), Paxata (US), and Alteryx (US).
By component, the platform segment expected to hold a higher market share than the services segment during the forecast period
Increasing demand amongst enterprises to handle complex data formats is expected to draw the demand for autonomous data platforms. Enterprises are adopting autonomous data platforms to effectively and efficiently manage the growing volumes of data in order to enhance productivity and maintain business continuity. Autonomous data platforms not only improve the quality of data-driven insights but also help enterprises enhance their data management capabilities. The proliferation of data has forced the autonomous data platform vendors, such as Oracle, MapR, IBM, and AWS, to develop and design autonomous data platforms to help IT teams simplify and manage processes.
Cloud-based deployment expected to have significant growth during the forecast period
Scalability, enhanced collaboration, and cost-effectiveness offered by the cloud platform are expected to boost the demand for cloud-based autonomous data platforms. Enterprises are looking forward to having their solution deployed on the cloud, as the cloud deployment offers various advantages, such as scalability, flexibility in capacity, and enhanced collaboration. The cloud-based autonomous data platform delivers benefits such as reduced cost, as enterprises do not need to build and manage the infrastructure; all the required infrastructure is provided and managed by third parties (CSPs), leading to a reduced upfront cost.
The implementation of cloud-based autonomous data platforms enables SMEs and large enterprises to focus on their core competencies, rather than IT processes. The cloud-based data management platform offers a centralized way to integrate the system and its components with web and mobile applications, thus helping organizations boost their efficiency. As a result, a majority of organizations are switching to cloud-based autonomous data platforms. Security concerns remain a critical issue that restricts cloud adoption. However, the security issues are gradually being eliminated through rigorous security tests of the highest standards by third parties.
North America expected to have the largest market size during the forecast period
The extensive use of mobile devices and social media platforms to connect with business partners and customers for delivering customized content as per business requirements of clients has encouraged organizations to adopt autonomous data platforms and services in North America. Autonomous data platforms are marketer-managed systems that provide unified and persistent customer profiles, which are used for segmentation and marketing automation across channels. With the advent of autonomous data platforms, marketers can centralize customers' data from different sources at one platform, thereby saving hours of integration work.
The US and Canada are major contributors to the North America autonomous data platform market. BFSI, retail, and manufacturing are the most promising verticals in the region. The largest retail chains in the region are contributing to the autonomous data platform market growth. The reason for North America's dominance of the autonomous data platform market is its well-established economy, which facilitates investments in new technologies, including the autonomous data platform technology. In addition to this, the presence of autonomous data platform vendors and tech companies engaged in delivering innovative platforms and services are also boosting the demand for autonomous data platforms and services across the region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Autonomous Data Platform Market
4.2 Market in North America, By Vertical and Country
4.3 Market Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Adoption of Cognitive Computing Technology and Advanced Analytics
5.2.1.2 Increasing Volume of Unstructured Data Due to the Phenomenal Growth of Interconnected Devices and Social Media
5.2.1.3 Increasing Volume of Complex Data
5.2.2 Restraints
5.2.2.1 Complex Analytical Process
5.2.3 Opportunities
5.2.3.1 Growing Demand From SMEs
5.2.3.2 Increasing Adoption of Cloud Technology
5.2.4 Challenges
5.2.4.1 Managing Data Quality and Safety
5.2.4.2 Lack of Skilled Workforce
5.2.4.3 Data Privacy Laws and Compliance
5.3 Use Cases
5.3.1 Introduction
5.3.1.1 Use Case 1
5.3.1.2 Use Case 2
5.3.1.3 Use Case 3
5.3.1.4 Use Case 4
5.4 Regulatory Implications
5.4.1 Introduction
5.4.2 General Data Protection Regulation (GDPR)
5.4.3 Health Insurance Portability and Accountability Act (HIPAA)
5.4.4 Federal Trade Commission (FTC)
5.4.5 ISO/IEC JTC 1/SC 42
6 Autonomous Data Platform Market By Component
6.1 Introduction
6.2 Platform
6.2.1 Increasing Need From Enterprises to Handle Complex Data Formats is Expected to Draw the Demand for Autonomous Data Platforms
6.3 Services
6.3.1 Advisory
6.3.1.1 Increasing Adoption of Complex Data Management Platform is Expected to Drive the Demand for Advisory Services
6.3.2 Integration
6.3.2.1 Growing Demand Amongst Enterprises for Hassle-Free Installation and Integration of Autonomous Data Platforms is Expected to Drive the Market for Integration Services
6.3.3 Support and Maintenance
6.3.3.1 Growing Need to Increase the Uptime of Data Management Platform to Spur the Demand for Support and Maintenance Services
7 Autonomous Data Platform Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Increasing Need to Analyze the Huge Volumes of Data Generated From Various Enterprise Systems to Drive the Demand for Autonomous Data Platforms Among Large Enterprises
7.3 Small and Medium-Sized Enterprises
7.3.1 Focus Amongst Enterprises to Improve the Quality of Data-Driven Insights to Boost the Adoption of Autonomous Data Platforms in Small and Medium-Sized Enterprises
8 Autonomous Data Platform Market By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Concerns Over the Security of Sensitive Data to Drive the Adoption of On-Premises Autonomous Data Platforms
8.3 Cloud
8.3.1 Scalability, Enhanced Collaboration, and Cost-Effectiveness Offed By the Cloud Platform are Expected to Boost the Demand for Cloud-Based Autonomous Data Platforms
9 Autonomous Data Platform Market By Vertical
9.1 Introduction
9.2 BFSI
9.2.1 Growing Demand to Improves Customer Service and to Enhance Know Your Customer (KYC) Capabilities to Drive Demand for Autonomous Data Platform
9.3 Healthcare and Life Sciences
9.3.1 Growing Demand to Comply With Regulations in Healthcare Industry to Drive the Demand for Autonomous Data Platform and Services
9.4 Retail
9.4.1 Growing Demand to Manage Diverse Products and Items Across Multiple Departments and Portfolios is Expected to Drive the Demand for Autonomous Data Platform
9.5 Manufacturing
9.5.1 Autonomous Data Platform Enable Manufacturers to Manage Products, Inventories, and Assets Across All Channels
9.6 Telecommunication and Media
9.6.1 Growing Demand to Enables Consolidation of Information Into A Single Reference Frame and Centralization of Different Services is Expected to Drive Demand for Autonomous Data Platform
9.7 Government
9.7.1 Need to Manage Fragmented Critical Data From Heterogeneous Systems Propels Demand for Autonomous Data Platform
9.8 Others
10 Autonomous Data Platform Market By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Presence of Leading Global Technology Players is One of the Factors Driving the US Market
10.2.2 Canada
10.2.2.1 Rising Adoption of Data Compliance Practices is Driving the Growth of Market in Canada
10.3 Europe
10.3.1 UK
10.3.1.1 Strategic Partnerships and Supportive Government Initiatives to Drive the Demand for Autonomous Data Platform
10.3.2 Germany
10.3.2.1 Emergence of Industry 4.0 is Expected to Drive the Market in Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 Australia and New Zealand (ANZ)
10.4.1.1 Rising Need to Handle Large Volumes of Data Supporting the Adoption of Autonomous Data Platform and Services in ANZ
10.4.2 China
10.4.2.1 Increasing Adoption of Advanced Enterprise Application Amongst Chinese Organizations is Expected to Drive the Autonomous Data Platform Market
10.4.3 Rest of Asia Pacific
10.5 Middle East and Africa (MEA)
10.5.1 UAE
10.5.1.1 Increasing Adoption of Emerging Technologies is Expected to Drive the Adoption of Autonomous Data Platform and Services
10.5.2 South Africa
10.5.2.1 Supportive Government Initiatives are Expected to Drive Market Growth in South Africa
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Supportive Government Initiatives are Expected to Drive Market Growth in South Africa
10.6.2 Mexico
10.6.2.1 Rising Awareness About Autonomous Data Platform is Expected to Drive Growth of the Market in Mexico
10.6.3 Rest of Latin America
11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
11.2 Competitive Landscape Overview
11.3 Competitive Scenario
11.3.1 New Product Launches/Product Enhancements
11.3.2 Partnerships, Agreements, and Collaborations
11.3.3 Mergers and Acquisitions
12 Company Profiles
(Business Overview, Products, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis)
12.1 Oracle
12.2 AWS
12.3 Teradata
12.4 IBM
12.5 MAPR
12.6 Cloudera
12.7 Qubole Inc.
12.8 Ataccama
12.9 Gemini Data
12.10 Denodo
12.11 Datrium
12.12 Dvsum
12.13 Alteryx
12.14 Zaloni
12.15 Paxata
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