Datafication Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

The Business Research Company’s Datafication Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 18, 2024 /EINPresswire.com/ -- The datafication market, which involves converting various aspects of human activities and business operations into data for analysis and decision-making, has experienced rapid expansion in recent years. Starting at $347.03 billion in 2023, the market size is expected to grow to $392.39 billion in 2024, marking a compound annual growth rate (CAGR) of 13%. This growth is attributed to factors such as the proliferation of internet connectivity, exponential data volume growth, advancements in analytics tools, emergence of cloud computing, and increasing digitization across industries.

Rapid Growth Driven by Technological Advancements and Regulatory Emphasis
Looking ahead, the datafication market is forecasted to continue its robust growth trajectory, reaching $636.07 billion by 2028, with a CAGR of 12.8%. This growth will be fueled by heightened focus on data privacy and security, accelerated deployment of 5G networks, advancements in quantum computing, stricter data regulation and compliance measures, and the expanding use of IoT devices. Key trends in this period will include augmented analytics, personalized customer experiences, smart cities development, enhanced cybersecurity solutions, and sustainable data practices.
Increasing Data Generation Powers Market Expansion

A significant driver of the datafication market is the escalating volume of data generation. This refers to the creation of new data through various methods, including data collection from sources, surveys, experiments, and algorithms. Digital technologies and global economic interconnectedness play crucial roles in this phenomenon, enabling businesses to transform diverse aspects into actionable data for analysis and utilization.

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Leading Players and Innovations
Major companies shaping the datafication landscape include Amazon Web Services Inc., Alphabet Inc., Microsoft Corporation, Dell EMC, IBM Corporation, Oracle Corporation, SAP SE, ABB Group, Hewlett-Packard Enterprise (HPE), and others. These companies are focusing on developing advanced solutions to maintain a competitive edge. For example, IBM recently launched new business analytics enterprise software designed to break down data silos and enhance planning and analytics capabilities. Such innovations underscore the industry's commitment to enhancing data accessibility and decision-making processes.

Segmentation and Regional Insights
The datafication market is segmented based on type, component, deployment, application, and verticals. Types include Behavioral Datafication, Social Datafication, Geospatial Datafication, Transactional Datafication, and Sensor Datafication. Components comprise Solutions and Services, while deployment options include Cloud and On-Premises. Applications span Blockchain, AI for IT operations (AIOps), Cognitive Computing, Edge Computing, FinOps, and others. Verticals covered include BFSI, Healthcare, IT & Telecom, Retail, Government & Defense, Manufacturing, Media & Entertainment, and others.

Geographical Insights: Asia-Pacific Leads Growth
In 2023, North America held the largest share of the datafication market, while Asia-Pacific is expected to witness the fastest growth during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Datafication Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Datafication Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on datafication market size, datafication market drivers and trends, datafication market major players, competitors' revenues, market positioning, and market growth across geographies. The datafication market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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