DataOps Platform Market worth $10.9 billion by 2028 - Exclusive Report by MarketsandMarkets

CHICAGO, May 24, 2023 /PRNewswire/ -- The market for DataOps platforms appears to have a bright future as businesses increasingly value efficient data operations. With increasing automation, AI-driven capabilities, and better integration with cutting-edge technologies like cloud computing and edge computing, data operations platforms will continue to advance. In order to speed digital transformation activities across sectors and support data-driven decision-making, the market will see an increase in demand for scalable, secure, and agile DataOps solutions.

The global DataOps Platform Market is projected to grow from USD 3.9 billion in 2023 to USD 10.9 billion by 2028, at a CAGR of 23.0% during the forecast period, according to a new report by MarketsandMarkets™. As organizations continuously generate and accumulate vast volumes of data, DataOps platforms offer indispensable tools and processes to extract actionable insights and unlock the true value of data assets. DataOps platform empower teams with the necessary skills and capabilities to effectively manage critical business processes, enabling them to grasp the significance while eliminating data silos through centralized data management. This emerging paradigm seeks to achieve a delicate equilibrium between fostering innovation and upholding control over the data pipeline. By harmonizing innovation and control, DataOps platforms allow organizations to harness data as a strategic asset while ensuring data integrity and security are upheld without compromise.

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270 - Tables
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270 - Pages

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Scope of the Report

Healthcare & Life Sciences segment to account for higher CAGR during the forecast period

The market for DataOps Platform is bifurcated into BFSI, IT and ITeS, Retail & eCommerce, Healthcare & Life Sciences, Manufacturing, Government & Defense, Telecommunications, Transportation & Logistics, Media & Entertainment and Other verticals. The adoption of DataOps platforms has significantly transformed the healthcare & life sciences industry by facilitating streamlined data analytics and improving the accuracy of medical treatments. The platform offers an excellent opportunity to aggregate and analyse large volumes of complex and diverse healthcare data. By leveraging the power of machine learning and artificial intelligence, DataOps platforms enable healthcare professionals to provide more personalized and efficient healthcare services. These platforms provide real-time data insights that help healthcare professionals identify disease patterns, make early diagnoses, and prescribe the most effective treatment plans for their patients. As a result, the healthcare industry is witnessing a paradigm shift, with DataOps platforms being at the forefront of this transformation. During the forecast period, the Healthcare & Life Sciences segment is anticipated to grow at the highest CAGR.

Cloud segment to grow at the highest CAGR during the forecast period

The market for DataOps Platform is bifurcated based on deployment mode into Cloud and On-premises.  The adoption of cloud deployment offers enhanced flexibility and accessibility, enabling users to access the DataOps platform from anywhere with an internet connection. This increased accessibility empowers businesses to leverage the platform's capabilities without limitations of physical location. Additionally, cloud deployment expedites the implementation and deployment process of DataOps platforms by eliminating the requirement for businesses to establish and configure their own hardware and infrastructure. This streamlined approach saves valuable time and reduces the time to value, enabling businesses to swiftly extract insights and make data-driven decisions. Embracing cloud deployment allows organizations to harness the full potential of their data assets swiftly and efficiently, providing them with a competitive edge in the dynamic business landscape. During the forecast period, the cloud segment is expected to grow at the highest CAGR.

Asia Pacific to exhibit the highest CAGR during the forecast period

The CAGR of Asia Pacific is estimated to be highest during the forecast period. The Asia Pacific region is witnessing a rapid adoption of DataOps platforms driven by various factors such as the exponential growth of big data, the prevalence of cloud computing, and the advancements in artificial intelligence. With data volumes expanding at an unprecedented rate, businesses are seeking automated solutions to manage their data effectively, aiming to achieve cost savings, operational efficiency, and improved data quality. The business ecosystem for DataOps platforms in the Asia Pacific region is diverse and rapidly evolving. It encompasses a broad spectrum of technology vendors, service providers, and consulting firms that cater to businesses of all sizes, offering comprehensive end-to-end data management solutions. As the demand for efficient data management intensifies, the Asia Pacific region is witnessing significant growth and innovation in the field of DataOps platforms.

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Top Key Companies in DataOps Platform Market:

Major vendors in the global DataOps Platform Market are Microsoft (US), IBM (US), Oracle (US), AWS (US), Informatica (US), Teradata (US), Wipro (India), Accenture (Ireland), SAS Institute (US), Hitachi Vantara (US), DataKitchen (US),  Atlan (Singapore), Dataiku (US), Fosfor (India), Databricks (US), StreamSets (US), Talend (US), Collibra (US), Celonis (US),  BMC Software (US), Saagie (France), Composable Analytics (US), Tengu.io (Belgium), Unravel Data (US), Monte Carlo Data (US), Census (US), RightData (US), Zaloni (US), Datafold (US), DataOps.live (UK), K2view (Israel).

Recent Developments:

• In April 2023, DataOps.live partnered with AWS and joined the AWS Partner Network on the Software Path and obtained the AWS Qualified Software Certification after successfully completing the AWS Foundational Technical Review.
• In March 2023, Blechwarenfabrik Limburg GmbH collaborated with Hitachi Vantara and adopted its Lumada DataOps Platform which includes Pentaho, to achieve real-time, standardized, integrated data analysis for increased sustainability and accelerated production.
• In February 2023, Informatica announced the launch of Cloud Data Integration-Free and PayGo, which is the only free cloud data loading, integration, and ETL/ELT service. This new service targets data practitioners and non-technical users such as in marketing, sales, and revenue operations teams to build data pipelines within minutes.
• In November 2022, Wipro had announced the launch of Data Intelligence Suite speeding up the cloud modernization and data monetization, focused on modernizing data estates, including data stores, pipelines, and visualizations, running on Amazon Web Services. It also provides a dependable and safe way to migrate from existing platforms and fragmented legacy systems to the cloud.
• In June 2022, Teradata announced the general availability and integration of the Teradata Vantage multi-cloud data and analytics platform with Amazon SageMaker. It enables organizations to widely employ advanced analytics to fully leverage their data.

DataOps Platform Market Advantages:

• By utilising data validation rules, data profiling, and data cleaning processes, DataOps systems aid in the improvement of data quality. Organisations may make more precise and dependable judgements by assuring high-quality data.
• The amount of human work necessary is decreased by the automation of numerous data-related operations via DataOps platforms, including data ingestion, transformation, and integration. This automation boosts productivity frees up time, and enables data teams to concentrate on higher-value tasks.
• By fostering collaboration between various teams involved in data operations, such as data engineers, data scientists, and business analysts, data operations platforms enable agile data management practises. Through this partnership, cross-functional communication is improved, and the creation and implementation of data-driven solutions are sped up.
• Data governance elements built into DataOps platforms assist organisations in ensuring data privacy, security, and regulatory compliance. To maintain data integrity and adhere to regulatory requirements, these platforms frequently have capabilities for data lineage, data cataloguing, and access control.
• To handle massive volumes of data from many sources, DataOps platforms offer flexibility and scalability. Organisations can scale their data operations as necessary thanks to their ability to process structured and unstructured data efficiently, provide real-time data processing, and seamlessly interact with cloud platforms.

Report Objectives

• To define, describe, and predict the DataOps Platform Market, by offering (platform and services), type, deployment mode, organization size, vertical, and region
• To provide detailed information related to major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the market growth
• To analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total market
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the DataOps Platform Market
• To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
• To forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America
• To profile the key players and comprehensively analyze their market ranking and core competencies
• To analyze competitive developments, such as partnerships, product launches, and mergers and acquisitions, in the DataOps Platform Market
• To analyze the impact of recession on the DataOps Platform Market across all the regions

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