DataOps Platform Market to Grow at CAGR of 25% through 2033

Newark, June 11, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4 billion in 2023 global dataOps platform market will reach USD 37.25 billion in 2033. DataOps stands for Data Operations. It is a collection of strategies, methods, and technology designed to improve data analytics’ speed, quality, and reliability. DataOps emphasizes collaboration among data scientists, engineers, and operations teams to improve data flow from source to analysis. The primary goals include ensuring data quality, enabling the rapid deployment of data-driven applications, and supporting effective data administration. A DataOps platform is a collection of technologies that facilitates the deployment of DataOps techniques. Unique features of these systems include data workflow automation, complicated process orchestration, comprehensive data quality and governance measures, monitoring and logging capabilities, enhanced collaboration tools, scalability, version control, and strong security features. The necessity for DataOps stems from the increasing complexity. DataOps is driven by the increasing complexity and volume of data, necessitating more efficient, high-quality, and flexible data management operations. It solves the issues of maintaining data accuracy, compliance, and quick response to changing business requirements. DataOps is critical for better decision-making, cost savings, creating a competitive advantage, and ensuring regulatory compliance. DataOps applications include data integration to advanced analytics, corporate intelligence, data warehousing, real-time data processing, and data governance.

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Key Insight of the Global DataOps Platform Market

North America will dominate the market during the forecast period.

The region is home to several top technology companies, startups, and research institutions that are driving improvements in data management and analytics and supporting the development and acceptance of complex data operations platforms. Abundant venture capital financing promotes innovation and prosperity in the region. Many of the world’s largest organizations across multiple industries are headquartered in North America and are early adopters of DataOps platforms, indicating a strong market need for them. A favourable regulatory environment encourages innovation and adoption of DataOps systems by offering greater freedom and fewer limits than other locations. Furthermore, North American businesses increasingly rely on data analytics to support decision-making and drive growth, accelerating the adoption of DataOps platforms for effective data management and analysis.

In 2023, the agile development segment dominated the market, with a 45% market share and revenue of 1.80 billion.

The type segment is divided into agile development, DevOps, and lean manufacturing. In 2023, the agile development segment dominated the market with a 45% market share and revenue of 1.80 billion.

In 2023, the cloud segment dominated the market, with a 75% market share and revenue of 3 billion.

The deployment type segment is divided into cloud and on-premises. In 2023, the cloud segment dominated the market, with a 75% market share and revenue of 3 billion.

In 2023, the IT and telecommunications segment dominated the market, with a 38% market share and revenue of 1.52 billion.

The application segment is divided into BFSI, healthcare, retail, manufacturing, government, IT and telecommunications, energy and utilities, media and entertainment, and others. In 2023, the IT and telecommunications segment dominated the market with a 38% market share and revenue of 1.52 billion.

Report Scope and Segmentation –

pe, Application, Regions
Regions Covered The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
DataOps Platform Market Growth Drivers The rapid digital transformation across industries

Advancement in market

DataOps.live, an eponymous firm, raised a round of funding following high demand for its services. The London business has raised $17.5 million from new backer Notion Capital, as well as former backers Anthos Capital and Snowflake, the data cloud computing behemoth. DataOps.live was designed to operate directly with data stored in Snowflake. The objective is to use some of this new funding to continue developing innovations for that service and invest in interacting with unstructured data and other data warehousing providers.

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Market Dynamics

Driver: Rapid digital change throughout industries.

Digital transformation activities involving integrating digital technology across all business domains greatly raise the demand for DataOps platforms. Organizations that prioritize data-driven decision-making require data that is dependable, of high quality, and timely. DataOps platforms address this demand by ensuring effective data management and analytics. DataOps technologies provide real-time collecting and analysis of consumer data, allowing businesses to adapt their services and increase customer happiness. Furthermore, DataOps systems’ automation and streamlined workflows improve operational efficiency and save costs, aligning with digital transformation’s aims. Innovation and adaptability are essential as firms adopt new technologies and procedures. DataOps enables quick experimentation and implementation of data-driven solutions while enabling the integration and management of emerging technologies such as AI, machine learning, IoT, and big data analytics. DataOps platforms’ scalability and flexibility allow them to handle increasing data quantities and changing analytical requirements. Thus, digital transformation projects create demand for DataOps solutions.

Restraints: Cost considerations.

Adopting and maintaining a DataOps platform includes licensing costs for accessing platform features and services, which make up a considerable amount of the cost. Furthermore, the first implementation necessitates an investment in infrastructure, software deployment, and setup, which may include hardware procurement and customization fees. Training and skill development are critical for optimal platform utilization, demanding investment in personnel education. Ongoing maintenance and support are required for the platform to function as data. As data volumes increase, scalability becomes critical, potentially incurring additional expenditures for licencing, infrastructure improvements, and consulting services. As a result, pricing considerations render dataOps systems pricey and inaccessible to small, micro, and medium-sized industrial participants, limiting market expansion.

Opportunities: Technological progress in emerging technologies.

The rise of sophisticated analytics, artificial intelligence (AI), and machine learning (ML) are pushing up the need for dependable DataOps systems. These platforms are critical for handling and processing the enormous datasets and complex workflows that characterize AI/ML applications. DataOps systems manage complex AI/ML workflows from data collection to model deployment, minimizing manual effort and speeding up development cycles through automation. Ensuring excellent data quality is crucial for the reliability of AI/ML models. DataOps platforms enforce stringent data. Ensuring good data quality is crucial for the reliability of AI/ML models. DataOps solutions enforce strict data quality, resulting in cleaner and more consistent datasets and, thus, more accurate models. Many AI/ML applications rely on real-time data processing. DataOps solutions facilitate real-time data pipelines, resulting in rapid and actionable insights. As data volumes and model complexity increase, these platforms provide the essential scalability to meet rising demand without sacrificing performance. As a result, integrating sophisticated analytics and AI/ML into corporate operations emphasizes the importance of DataOps platforms, which will drive market expansion throughout the projection period.

Challenges: Data security and privacy concerns

Security concerns associated with DataOps may limit its adoption, particularly in industries handling sensitive or regulated data. These concerns include data privacy, data breaches, compliance risks, data governance, insider threats, cloud security, third-party integration risks, and data residency and sovereignty issues. DataOps involves centralizing and processing large volumes of data, raising concerns about data privacy and confidentiality. Centralized data repositories and pipelines in DataOps platforms present attractive cyberattack targets, leading to financial losses, reputational damage, and regulatory penalties. Malicious or negligent insiders pose a significant security risk to DataOps platforms. Data residency and sovereignty concerns may limit DataOps adoption in regions with strict data localization requirements or geopolitical tensions. Therefore, data security and privacy concerns will challenge the market’s growth.

Some of the major players operating in the global dataOps platform market are:

• Accenture PLC
• Amazon Web Services, Inc.
• Hitachi Vantara LLC
• IBM Corporation
• Informatica, LLC
• Microsoft Corporation
• Oracle Corporation
• SAS Institute, Inc.
• Teradata Corporation
• Wipro Limited

Key Segments covered in the market:

By Type

• Agile Development
• DevOps
• Lean Manufacturing

By Deployment Type

• Cloud
• On-premises

By Application

• BFSI
• Healthcare
• Retail
• Manufacturing
• Government
• IT and Telecommunications
• Energy and Utilities
• Media and Entertainment
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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