AI in Data Management Market Report 2024

This AI In Data Management market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The AI in data management market size has grown exponentially in recent years. It will grow from $27.64 billion in 2023 to $34.76 billion in 2024 at a compound annual growth rate (CAGR) of 25.8%. The growth during the historic period can be attributed to several factors such as the rising generation of data, advancements in machine learning technologies, widespread adoption of cloud computing, ongoing digital transformation, and heightened concerns about data privacy and security.

The AI in data management market size is expected to see exponential growth in the next few years. It will grow to $87.33 billion in 2028 at a compound annual growth rate (CAGR) of 25.9%. The anticipated growth in the forecast period can be attributed to several factors such as the expansion of the healthcare sector, increased use of AI in automation, integration of AI into business processes, and a growing emphasis on data analytics for strategic business insights. Key trends expected during this period include the adoption of data fabric for seamless integration, advancements in AI and automation, the rise of low-code/no-code platforms, and a heightened focus on data security and privacy.

The anticipated growth in the AI in data management market is expected to be driven by the shift towards cloud-based platforms. Cloud services encompass a wide range of computing resources and applications delivered over the internet on a subscription basis. Their rise is attributed to their capacity to facilitate remote work, enable digital transformation, and meet the scalability and agility needs of modern businesses. In cloud-based data management platforms, artificial intelligence (AI) automates data integration, analysis, and governance, leading to efficient, scalable, and intelligent data processing and decision-making. For example, in December 2023, Eurostat, a Luxembourg-based intergovernmental organization, reported that 45.2% of enterprises in the European Union had adopted cloud computing services for purposes such as hosting email systems, storing electronic files, and performing various tasks. Cloud service purchases among EU enterprises increased by 4% in 2023 compared to 2021. Notably, large enterprises showed a significant adoption rate, with 77.6% utilizing such services in 2023, marking a 6% rise from 2021. Thus, the shift towards cloud-based platforms is propelling the growth of the AI in data management market.

Key companies in the AI in data management market are concentrating on developing advanced solutions, such as AI-powered intelligent data management cloud platforms, to gain a competitive advantage. These platforms leverage artificial intelligence (AI) to enhance and automate various aspects of data management. For instance, in April 2024, Informatica Inc., a US-based software company, launched Saudi Arabia's first AI-powered Intelligent Data Management Cloud (IDMC). This platform uses Informatica's CLAIRE AI technology to automate data management tasks, improve data integration, and enhance business outcomes. IDMC is a comprehensive cloud-native solution that connects, unifies, and democratizes data, allowing organizations to manage their data effectively across multi-cloud and hybrid environments. The platform aims to support data-led transformations by utilizing AI and machine learning to streamline processes and improve decision-making.

In December 2023, Qlik, a US-based software company, acquired Mozaic Data for an undisclosed amount. This acquisition is a strategic move for Qlik, reinforcing its commitment to delivering comprehensive, AI-driven data management solutions that align with current market demands. Mozaic Data is a US-based provider of software services for AI-driven data management technology.

Major companies operating in the AI in data management market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Hewlett Packard Enterprise, SAS Institute, Hitachi Vantara Corporation, Snowflake Inc., Palantir Technologies Inc., Databricks Inc., Teradata Corporation, Informatica Inc., TIBCO Software, Alteryx Inc., Qlik, Talend S.A., Sumo Logic Inc., Dataiku, TheMathCompany, Civis Analytics, Sisense.

North America was the largest region in the AI in data management market in 2023. The regions covered in the AI in data management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the AI in data management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Artificial intelligence (AI) in data management involves the use of AI technologies and techniques to effectively manage, analyze, and utilize data. This includes activities such as data collection, processing, storage, and analysis, employing AI tools such as machine learning, natural language processing, and computer vision.

The primary components of AI in data management are solutions and services. Solutions in this field consist of software and tools designed to assist with data management, processing, and analysis. These solutions can be deployed either on cloud-based platforms or on-premises and utilize technologies such as machine learning, natural language processing, and computer vision. Applications of AI in data management cover areas such as data search and retrieval, data analytics, data classification, data integration, and data security, and are used across various industry sectors including banking, financial services, and insurance (BFSI), information technology (IT) and telecommunications, healthcare, retail and e-commerce, manufacturing, media and entertainment, government and public sector, and others.

The AI in data management market research report is one of a series of new reports that provides AI in data management market statistics, including AI in data management industry global market size, regional shares, competitors with a AI in data management market share, detailed AI in data management market segments, market trends and opportunities, and any further data you may need to thrive in the AI in data management industry. This AI in data management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The AI in data management market includes revenues earned by entities by providing services such as data collection and integration, data cleaning and quality management, data governance, consulting, and implementation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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