Data Management and Analytics Market Report 2024–2030
The Data Management and Analytics Market Report 2024–2030 is part of IoT Analytics’ ongoing coverage of software/analytics topics. The content presented in this report is based on a compilation of primary research, including surveys and interviews with 30+ industry experts from data management and analytics vendors and end users conducted between July 2023 and February 2024. The report encompasses a holistic overview of the current state of the data management and analytics market and its intersection with adjacent markets, such as Generative AI (Gen AI) and IoT, including market projections, factors driving adoption, the competitive landscape, a technology and process implementation overview, notable trends and developments, and insightful case studies.
The primary objective of this document is to provide our readers with a comprehensive understanding of the current data management and analytics landscape, offering in-depth analysis, market sizing, and valuable insights to facilitate informed decision-making and strategic planning.
How IoT Analytics defines Data Management
Data management is the systematic approach to handling data, which includes the collection, storage, processing, utilization, and safeguarding of information.
This process is integral to facilitating informed decision-making and supporting an organization’s strategic goals. By doing so, data management becomes a cornerstone in driving operational improvements, enhancing customer satisfaction, and achieving a competitive advantage in the marketplace.
Challenges faced by industry leaders
- The ever-increasing growth of data presents a key data management challenge. To tackle this, companies are deploying data management platforms that enhance data ingestion and analytics capabilities, helping to maintain clarity and control over their sprawling data assets.
- The evolving regulatory landscape complicates compliance and increases risk. A streamlined data management process with embedded compliance checks as part of the data governance framework, ensuring that data are processed in line with current laws, reduces the risk of breaches and non-compliance penalties.
- The cost and complexity associated with data security and privacy are rising. Well-managed data pipelines, equipped with proper security measures such as access controls, can enhance data protection mechanisms, making privacy management more methodical and reducing the financial burden on organizations.
The challenges mentioned above are just the tip of the iceberg. The right data management tools are thus critical in addressing these issues, enabling efficient data access and analysis that supports proactive and informed decision-making in a rapidly evolving market.
About the data management market
According to the Data Management and Analytics Market Report 2024–2030 by IoT Analytics, the market is predicted to grow at a compound annual growth rate (CAGR) of 16%. By 2030, it’s expected to be worth $513.3 billion.
The rising relevance of database technologies, data architectures, analytics, and data governance tools in fulfilling business needs has been instrumental in the recent expansion of the data management market.
Over the next six years, data analytics is predicted to contribute significantly to the growth of the data management market. Notably, data science is seeing an uptick, surpassing the overall market growth due to the increased demand for AI and ML tools, such as predictive analytics and generative AI.
