The report includes growth prospects considering current AI data management market trends and driving factors influencing the market growth. The rising adoption of advanced technologies such as AI, ML, NLP, deep learning, and cloud is facilitating the expansion of the AI data management market share. Increasing investment in AI technologies and the expansion of the BFSI and e-commerce industries are also expected to boost the AI data management market growth during the forecast period. Advancements in AI and ML for the adoption of transformative data management solutions are propelling the market. Moreover, the rising adoption of personalized and adaptive systems among consumers across the globe is likely to open growth opportunities for the AI data management market growth.
AI data management is strategically and methodically using AI technology to manage a business’s data assets. AI data management software encompasses all guidelines, procedures, and technical methods employed to collect, organize, utilize, and store data efficiently. The technology is used to enhance data quality, analysis, and decision-making, which increases its demand among businesses and drives the global AI data management market.
An ongoing evolution of AI and ML technologies increases the demand among consumers to manage their organizational data effectively. The sophisticated capabilities of AI provide businesses with power tools to generate detailed insights from collected data. The integration of AI and ML into data management procedures is perceived as a revolutionary factor in managing and addressing complexities associated with data analysis, handling, and decision-making. In May 2023, International Business Machines Corp introduced the Watsonx Platform, which helps businesses manage and fully control their data. Watsonx Platform is integrated with ML algorithms that allow organizations to collect and clean data. Al and ML algorithms help automate and optimize data management operations. These technologies are used to optimize large datasets at a faster speed beyond human capacity, which improves productivity for data management tasks such as data integration, categorization, and cleansing. Al-powered automated data management helps businesses significantly minimize the chance of error, reducing the workload associated with manual processes and ensuring the reliability and accuracy of data-driven insights. Thus, advancements in AI and ML-based data management software drive the market.
Key segments that contributed to the derivation of the AI data management market analysis are offering, deployment, technology, and industry verticals.
The geographic scope of the AI data management Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The Europe AI data management market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The market in Germany is anticipated to expand during the forecast period due to the growing digitalization and increasing demand for advanced technologies such as AL, ML, deep learning, and NLP. For instance, according to the ifo Institute, in August 2023, 13.3% of companies in Germany have deployed AI technology in their business, and 9.2% are planning to use it in their business to streamline the data management process. The AI-based system supports companies to process large amounts of data and make quick decisions through automated data analysis. These factors are anticipated to generate lucrative opportunities for the AI data management market growth in Europe during the forecast period.
The AI data management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for AI data management and strategies:
The regional trends and factors influencing the AI Data Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses AI Data Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 23.03 Billion |
| Market Size by 2031 | US$ 114.99 Billion |
| Global CAGR (2023 - 2031) | 22.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The AI Data Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the AI Data Management Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The “AI Data Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies - AI Data Management Market
The estimated global market size for the AI data management market in 2023 is expected to be around US$ 23,030.62 million.
BFSI segment is expected to hold a major market share of AI data management market in 2023.
The global market size of AI data management market by 2031 will be around US$ US$ 114,986.49 million.
Japan, China, and India expected to register high growth rate during the forecast period.
The US is expected to hold a major market share of AI data management market in 2023.
Real-time Data Processing are anticipated to play a significant role in the AI data management market in the coming years.
Asia Pacific is expected to register highest CAGR in the AI data management market during the forecast period (2024-2031)
Microsoft Corp, Amazon Web Services Inc, Alphabet Inc, Oracle Corp, International Business Machines Corp, Salesforce Inc, SAP SE, Hewlett Packard Enterprise Development LP, SAS Institute Inc, and Snowflake Inc. are the key market players expected to hold a major market share of AI data management market in 2023.
The AI data management market is expected to register an incremental growth value of US$ 91,956.49 million during the forecast period.