Autonomous Data Platform Market Expected to Reach $4.79 Billion by 2030

According to a recent report published by Allied Market Research, titled, “Autonomous Data Platform Market by Component, Organization Size, Deployment and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2030,” the global autonomous data platform market size was valued at $622 million in 2020, and is projected to reach $4,797 million by 2030, registering a CAGR of 22.8 % from 2020 to 2030.

Today, digital data production and collection are on an all-time high, with loads of data being recorded and exchanged every second of the day. Modern businesses are heavily reliant on this data as they may contain important information about their customers like their payment details, addresses, likes and dislikes, orders, and shopping lists, and others, which help businesses to profile their customers accordingly.

Compiling all this data at a larger scale requires enterprises to employ autonomous data platform solutions to collect, sort, store, and extract such data whenever it is needed. Traditional enterprise warehouses and on-premises data centers might take a significant amount of time analyzing, locating, and giving out said data right on command, but an artificial intelligence powered, and completely autonomous data platform can get through much faster and accurately, thus, increasing the efficiency, and overall speed of modern business enterprises.

In 2019, the global autonomous data platform market share was dominated by the platform segment, and is expected to maintain its dominance in the upcoming years, as developments in technology such as the deployment of web and cloud-based platforms increased the need for analytics has contributed to the growth of the market. In addition, the introduction of actionable intelligence to reduce data loss, and the prioritization of network-based paradigms are some of the other factors that are bringing a positive outlook on autonomous data platform market analysis.

The importance of services is equal to the amount of data to be created and stored. The organization has very sensitive data and viruses, and corruption of files can cause loss of data. To mitigate this phenomenon, enterprises are focusing on adopting a data backup and recovery platform, which drives the growth of the data backup and recovery market. A growing number of large and medium-sized enterprises have very large data, they need to store, backup, and recover, and so there is a growing demand for the autonomous data platform market growth.

The worldwide COVID-19 pandemic has had a massively beneficial influence on the global autonomous data platform industry, which is projected to increase following the COVID-19 pandemic. This is due to the rapid spread of coronavirus throughout the world, as well as work-from-home regulations created to prevent the virus's spread by reducing interactions. As a result, many firms invested in autonomous data platform solutions to simplify and speed-up productivity in business enterprises.

Furthermore, increasing network dependence and network load during the pandemic also paved the way for further growth of the autonomous data platform trend during the period.

Key Findings of the Study

• By component, in 2020, the platform segment was the major shareholder. However, services segment is expected to witness highest growth rate during the forecast period.
• On the basis of deployment, the local (on-premise) segment accounted for the highest revenue in 2020, however, the cloud segment is expected to witness highest growth rate during the forecast period.
• On the basis of industry vertical, the telecommunication and media segment accounted for the highest revenue in 2020, however, the healthcare and life science segment is expected to witness highest growth rate during the forecast period.
• Region wise, the autonomous data platform market trends was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

Some of the key companies mentioned within the autonomous data platform market report are Oracle Corporation, AWS, Teradata, IBM Corporation, MAPR, Cloudera, Qubole, Inc., Ataccama, Gemini Data, and Denodo.