AI Data Management Market

AI Data Management Market Growth Factors: AI, Real-time Insights, Scalability

The AI data management market is set to explode, reaching a whopping $70.2 billion by 2028. This impressive growth (over 22% per year) is fueled by smarter data tools and the cloud. AI-powered data fabrics and automation are simplifying data handling, while advancements in AI and cloud technology are making businesses eager to adopt these innovative solutions.

The AI Data Management market is experiencing significant growth, driven by several key factors:

  • Rise of AI-powered Data Fabric Solutions and Automation
  • Evolution in Cloud Technology
  • Advancements in AI and Machine Learning (ML)
  • Growing Need for Data Governance and Security
  • Integration with MLOps and Explainable AI (XAI):

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1. Rise of AI-powered Data Fabric Solutions and Automation:

  • Traditional data management can be complex and time-consuming. AI-powered data fabric solutions offer a more intelligent and automated approach.
  • These solutions can automatically locate, integrate, and prepare data from various sources, streamlining the process and reducing manual effort.
  • Additionally, automation in data labeling (a crucial step in training AI models) and data quality checks further improves efficiency.

2. Evolution in Cloud Technology:

  • The widespread adoption of cloud computing provides a scalable and cost-effective platform for managing massive datasets required for AI applications.
  • Cloud-based AI data management solutions offer greater flexibility, allowing businesses to easily scale their data storage and processing capabilities as their needs evolve.
  • Cloud providers are also heavily invested in developing comprehensive AI data management tools within their cloud ecosystems.

3. Advancements in AI and Machine Learning (ML):

  • The rapid progress in AI and ML is creating a growing demand for robust data management solutions.
  • As AI applications become more sophisticated, they require larger and more complex datasets for training and inference.
  • Effective AI data management ensures the quality, organization, and accessibility of this data, which is crucial for the success of AI projects.

4. Growing Need for Data Governance and Security:

  • With the increasing use of AI, concerns around data privacy, security, and compliance are paramount.
  • AI data management solutions are incorporating features for data governance, allowing businesses to control access, ensure data quality, and comply with relevant regulations.
  • Techniques like data anonymization and encryption are becoming essential for secure AI data handling.

5. Integration with MLOps and Explainable AI (XAI):

  • The gap between data management and AI development is narrowing.
  • AI data management platforms are integrating with MLOps tools to create streamlined data pipelines for deploying AI models.
  • Additionally, Explainable AI (XAI) techniques are being incorporated to help understand and interpret the decisions made by AI models, fostering trust and transparency.

These factors, combined with the increasing adoption of AI across various industries, are propelling the growth of the AI Data Management market. As AI continues to evolve, we can expect even more innovative solutions and advancements in this critical field.

AI Data Management Market Share - Global Industry Landscape

Some of the leading companies in the AI Data Management industry include:

  • Oracle (US)
  • Salesforce (US)
  • SAP (Germany)
  • SAS Institute (US)
  • HPE (US)
  • Snowflake (US)

Oracle (US):

Key Offering: Oracle offers a comprehensive suite of big data solutions, including Oracle Big Data Cloud Service and Oracle Analytics Cloud, for data management, analytics, and business intelligence.

Salesforce (US):

Key Offering: Salesforce provides Einstein Analytics, an AI-powered analytics platform, along with Salesforce Customer 360, a unified CRM platform, enabling businesses to gain insights and personalize customer experiences.

SAP (Germany):

Key Offering: SAP offers SAP HANA, an in-memory data platform, and SAP Analytics Cloud, a cloud-based analytics solution, for real-time data processing, advanced analytics, and predictive modeling.

SAS Institute (US):

Key Offering: SAS provides SAS Viya, an AI and analytics platform, offering capabilities for data visualization, machine learning, and advanced analytics, empowering organizations to derive insights from their data.

HPE (US):

Key Offering: HPE offers HPE Ezmeral Data Fabric, a distributed file and object storage platform, and HPE Ezmeral Container Platform, for running containerized big data workloads at scale.

Snowflake (US):

Key Offering: Snowflake provides a cloud-based data platform for data warehousing, data lakes, and data engineering, offering features like instant elasticity, data sharing, and support for diverse data types.

These companies offer a wide range of big data solutions and services, catering to the diverse needs of organizations in leveraging their data for insights and decision-making.

Related Reports:

AI Data Management Market by Offering (Platform, Software tools, and Services), Data Type, Technology (ML, NLP, Computer Vision, Context Awareness), Application (Process Automation, Data Augmentation), Vertical and Region - Global Forecast to 2028

AI Data Management Market Size,  Share & Growth Report
Report Code
TC 8905
RI Published ON
4/8/2024
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