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Market Overview:
The AI Data Management Market size is estimated to reach $105.8 billion by 2030, growing at a CAGR of 22.8% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “AI Data Management Market – By Type (Platform, Software, Services), By Deployment Type (Cloud, On-Premises), By Data Type (Audio, Video, Image, Text), By Technology (Machine Learning, Natural Language Processing, Computer Vision, Context Awareness), By Application (Data Augmentation, Data Anonymization and Compression, Exploratory Data Analysis, Imputation Predictive Modelling, Data Validation and Noice Reduction, Process Automation, Other Applications), By Industry Vertical (BFSI, Retail & eCommerce, Government, Healthcare & Life Sciences, Manufacturing, Energy & Utilities, Telecommunications, Media & Entertainment, Transportation & Logistics and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Rapid growth in the fields of AI and ML and the growing demand from the end-use industries are fueling the growth of the AI Data Management industry during the forecast period.
North America Dominated the Market in 2023:
North America held the largest share in the global AI Data Management Market due to its cutting-edge technological infrastructure and strong ecosystem of tech companies, startups, and academic institutions. The region's leadership in the AI Data Management Market is further cemented by its proactive attitude to integrating AI technology to spur innovation, improve operational efficiency, and gain competitive benefits. For instance, in July 2023, Lenovo introduced its new ThinkSystem DG Enterprise Storage Arrays and ThinkSystem DM3010H Enterprise Storage Arrays, representing the company's next wave of innovation in data management, designed to simplify the process for businesses enabling AI workloads and extracting value from their data.
AI Data Management Market: Key Takeaways
Rapid Advancements in Artificial Intelligence and Machine Learning:
The rapid advancements in AI and ML significantly shape AI Data Management systems. As these technologies evolve, businesses adopt increasingly sophisticated algorithms for data processing and predictive modeling. In April 2024, Informatica launched Saudi Arabia's first Intelligent Data Management CloudTM, marking a historic milestone. This surge in AI and ML applications necessitates robust data management systems to handle complex data volumes. Effective AI Data Management solutions are crucial for organizations to derive actionable insights, enhance innovation, and optimize AI workflows. By integrating AI capabilities, businesses can leverage their data assets, improve decision-making, and gain a competitive advantage in a data-driven landscape.
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Growing Demand from the End-use Industries:
The AI data management market is poised for significant growth due to rising demand across various sectors. Industries such as healthcare, banking, retail, and manufacturing increasingly rely on AI-powered data management systems. In healthcare, AI facilitates patient data analysis, clinical decision support, and drug discovery, improving outcomes and operational efficiency. In banking, AI enhances regulatory compliance and competitive positioning through risk assessment and fraud detection. Additionally, AI-driven data management optimizes supply chain processes, demand forecasting, and customer insights in retail and manufacturing. As organizations recognize data as a strategic asset, the need for AI Data Management solutions becomes essential for sustainable growth.
Scope of the Report:
Recent Developments:
- In February 2024, A solution based on Informatica's 2023 acquisition of Privitar, a market leader in comprehensive data access management technologies, is being launched by Informatica as Informatica® Cloud Data Access Management (CDAM). This AI-powered solution is now incorporated into IDMC, the premier data management platform from Informatica. Utilizing IDMC's shared metadata basis, plays a crucial role in data access governance.
- In October 2023, the Leading operational data management company in the world, K2view, launched the first end-to-end synthetic data management solution on the market. To produce synthetic data with unmatched accuracy and compliance, this all-inclusive offering combines generative AI and rule-based synthetic data creation techniques with a patented business-entity data model approach.
- In May 2023, Leader in enterprise cloud data management Informatica, at Informatica World, its annual conference taking place in Las Vegas, unveiled important product developments for its Intelligent Data Management Cloud (IDMC).
AI Data Management Market: Competitive Landscape
Key companies profiled in the AI Data Management Market are Microsoft Corporation, IBM, AWS Inc., Oracle Corporation, Google Inc., SAP SE, Informatica Inc, Hewlett Packard Enterprise Company, Databricks Inc, Teradata Corporation and others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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Mr. Venkat Reddy
IndustryARC
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