Autonomous Data Platform Market Size, Share, Growth Analysis, By Component(Platform, Services [Advisory, Integration, Support & Maintenance]), By Organization Size(Small and Medium Enterprises (SME), Large Enterprises), By Deployment(On-Premises, Cloud), By Vertical(BFSI, Healthcare and Life Sciences, Retail, Manufacturing), By Region - Industry Forecast 2024-2031

Global Autonomous Data Platform Market size was valued at USD 1.57 Billion in 2022 and is poised to grow from USD 1.93 Billion in 2023 to USD 10.12 billion in 2031, at a CAGR 23.0% during the forecast period (2024-2031).

The growing popularity of cutting-edge technologies including artificial intelligence (AI) and machine learning, as well as the increasing automation & digitization across industries, are anticipated to have a substantial impact on the industry's growth. The market has been impacted by the COVID-19 pandemic, and as a result, after the pandemic growth will likely be hindered. This is due to the increased rate of COVID-19 transmission from around the world and the use of work-from-home policies by businesses to protect their staff from viral diseases. As a result, many businesses have invested heavily in autonomous information system solutions to speed up and increase efficiency across all company processes. These elements are influencing the market for autonomous data platforms, which is expanding quickly.

According to the growing use of autonomous systems of information in cloud-based businesses, there is significant growth potential over the course of the forecast period. This is due to the emerging trends of cloud platforms in emerging organizations and the retention of company information primarily in the hybrid & public clouds.

An autonomous data platform offers extraordinary flexibility, allowing businesses to adjust capacity based on convenience and needs. Autonomous data platforms furthermore provide a number of techniques to examine, disseminate, and include crucial data as compared to conventional business database systems. As a result, companies can improve and increase their data management capabilities. These are the elements that are anticipated to fuel industry growth.

The industry is anticipated to expand as a result of the rising use of mental computing and cutting-edge analytical technology. Due to the quick growth of the internet and associated technologies, many organizations are producing a sizable volume of unstructured data. Due to this expanding data volume, small and medium-sized organizations are expected to have a growing demand for autonomous database platforms.

Autonomous databases' automation decreases the amount of human installation and data processing, providing decision-makers with useful insights earlier. Machine learning is used by the independent data platform to ensure that it is always running smoothly and in the way that business decision-makers want it to. For instance, machine learning can continuously and automatically patch, upgrade, adapt, and backup the system while it is in use, with little to no operator involvement. Automation reduces the likelihood that malicious or careless human action will jeopardize the safety of databases or operations.

The growing pace of technological development has increased the expectations of enterprises. These companies regularly update the cloud-based services they offer to customers to fulfill the demands of data collection, analysis, and organization for their clients. To enable automated operations & continuous software delivery pipelines, the autonomous cloud uses DevOps techniques, AI, ML, and advanced automation for native cloud settings. The use of cloud-based autonomously data platforms by enterprises also requires sizable investments, which could increase demand for this industry during the forecast period.

US Autonomous Data Platform Market is poised to grow at sustainable CAGR for the next forecast year