Augmentation In Cloud Processing Paired with The Rising Advancements In Artificial Intelligence Is Driving The Growth of Automated Data Platform Market In North America
- Himanshu Patni
- May 16, 2023
- NEWS, TELECOM & IT
- Automated Data Platform Market, Automated Data Platform Market Analysis, Automated Data Platform Market Forecast, Automated Data Platform Market Growth, Automated Data Platform Market Outlook, Automated Data Platform Market Share, Automated Data Platform Market Size
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Cloud processing and artificial intelligence (AI) have greatly enhanced data automation by enabling faster and more efficient processing, analysis, and decision-making capabilities. Cloud processing allows businesses and organizations to store and access vast amounts of data remotely through cloud-based services.. Artificial intelligence (AI) has been a rapidly growing field in North America, with the United States and Canada being major players in research and development. Canada has also been making significant strides in AI, with the country’s government investing heavily in the industry and universities like the University of Toronto and McGill University producing top talent in the field. The application of AI in various industries, such as healthcare, finance, and transportation, has also been on the rise in North America, leading to the development of new products and services that have the potential to transform the way we live and work.
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For instance, according to world Economic Forum Technological innovation is opening a new frontier in the development agenda for countries around the world. In recent years, artificial intelligence (AI) has had a profound impact on global issues in agriculture, healthcare, education and more. There is tremendous potential in harnessing the power of AI tools to increase economic growth, but the economic and social benefits of this technology remain geographically concentrated, primarily in the Global North. Cloud processing also offers scalability, allowing businesses to easily expand their data storage and processing capabilities as their needs grow. AI algorithms can analyze large amounts of data and identify patterns and insights that would be difficult or impossible for humans to detect. This allows businesses to automate data analysis and decision-making processes, freeing up valuable resources and increasing efficiency. Further, the Automated Data Platform Market is expected to grow at a strong CAGR of 21.6% during the forecast period (2022-2030). The North American region has seen significant growth in automated data platforms in recent years. As businesses increasingly rely on data to make strategic decisions, the need for automated data platforms has become more pressing. As businesses become more data-driven, those that are not able to effectively collect, process, and analyze data risk falling behind their competitors.
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Based on component, the market is segmented into platform, services, advisory, integration, support, and maintenance. Amongst these, the platform segment dominated the market in 2021. This segment accounted for the largest revenue 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. Moreover, the rising demand for autonomous data platforms from SMEs and the adoption of cloud technology are the determinants for the growth of this market.
On the basis of deployment, the market is bifurcated into on-premises 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 solutions is driving this segment. Its 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. The feature of uploading data to the connected devices over a network instead of storing it manually is also surging the demand of this segment.
Global Automated Data Platform Market Segmentation
Market Insight, by Component
· Services
o Platform
o Advisory
o Integration
o Support & Maintenance
Market Insights, by Deployment
· On-Premise
· Cloud
Market Insights, by Organisation Size
· Small & Medium Enterprises
· Large Enterprises
Market Insights, by Industries
· BSFI
· Healthcare
· Life Sciences
· Government
· Others
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o Japan
o India
o Rest of APAC
· Rest of the World
Top Company Profiles
· Oracle
· Amazon Web Services, Inc
· Teradata
· IBM
· Hewlett Packard Enterprise Development LP
· Cloudera, Inc.
· Qubole Inc.
· Ataccma
· Gemini Trust Company, LLC.
· Denodo Technologies
