North America AI Data Management Market
No. of Pages: 111 | Report Code: BMIRE00030773 | Category: Technology, Media and Telecommunications
No. of Pages: 111 | Report Code: BMIRE00030773 | Category: Technology, Media and Telecommunications
The North America AI data management market was valued at US$ 8,249.57 million in 2023 and is expected to reach US$ 41,979.87 million by 2031; it is estimated to register a CAGR of 22.6% from 2023 to 2031.
An ongoing evolution of AI and ML technologies increases the demand among consumers to manage their organizational data effectively. The sophisticated capabilities of AI provide businesses with power tools to generate detailed insights from collected data. The integration of AI and ML into data management procedures is perceived as a revolutionary factor in managing and addressing complexities associated with data analysis, handling, and decision-making. In May 2023, International Business Machines Corp introduced the Watsonx Platform, which helps businesses manage and fully control their data. Watsonx Platform is integrated with ML algorithms that allow organizations to collect and clean data. Al and ML algorithms help automate and optimize data management operations. These technologies are used to optimize large datasets at a faster speed beyond human capacity, which improves productivity for data management tasks such as data integration, categorization, and cleansing. Al-powered automated data management helps businesses significantly minimize the chance of error, reducing the workload associated with manual processes and ensuring the reliability and accuracy of data-driven insights. Thus, advancements in AI and ML-based data management software drive the market.
In 2022, North America led the global AI data management market. Factors such as increasing adoption of innovative technologies in numerous industries such as BFSI, IT & telecom, retail & e-commerce, and healthcare are driving the market. The presence of major players, such as Microsoft Corp, Amazon Web Services Inc, Alphabet Inc, Oracle Corp, International Business Machines Corp, Salesforce Inc, Hewlett Packard Enterprise Development LP, SAS Institute Inc, and Snowflake Inc, is also benefitting the market growth in the US. These players are engaged in developing new innovative technologies to support enterprises in managing customers' information and business data. For instance, in March 2024, Oracle Corp. announced the general availability of Oracle Analytics Server. Oracle Analytics Server is an Oracle Autonomous Database, having capabilities of AutoML and Oracle Cloud Infrastructure AI Services that help organizations hide sensitive data and potentially improve data privacy by using the OCI Language service. This provides businesses with new opportunities for growth by improving their operations.
The growing adoption of advanced technologies has also encouraged market players to implement AI technology in data management solutions and services to improve customer satisfaction.
Strategic insights for the North America AI Data Management provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 8,249.57 Million |
| Market Size by 2031 | US$ 41,979.87 Million |
| Global CAGR (2023 - 2031) | 22.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America AI Data Management refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America AI data management market is categorized into offering, deployment, technology, industry vertical, and country.
Based on offering, the North America AI data management market is bifurcated into solution and service. The solution segment held a larger North America AI data management market share in 2023.
In terms of deployment, the North America AI data management market is segmented into on-premise and cloud. The cloud segment held a larger North America AI data management market share in 2023.
By technology, the North America AI data management market is divided into machine learning, natural language processing (NLP), computer vision, and context awareness computing. The machine learning segment held the largest North America AI data management market share in 2023.
Based on industry vertical, the North America AI data management market is categorized into BFSI, retail & e-commerce, IT & telecom, healthcare, government, and others. The BFSI segment held the largest North America AI data management market share in 2023.
Based on country, the North America AI data management market is categorized into the US, Canada, and Mexico. The US dominated the North America AI data management market share in 2023.
Microsoft Corp, Alphabet Inc, Oracle Corp, International Business Machines Corp, Salesforce Inc, SAP SE, Hewlett Packard Enterprise Co, SAS Institute Inc, Snowflake Inc, and Amazon com Inc. are some of the leading companies operating in the North America AI data management market.
The North America AI Data Management Market is valued at US$ 8,249.57 Million in 2023, it is projected to reach US$ 41,979.87 Million by 2031.
As per our report North America AI Data Management Market, the market size is valued at US$ 8,249.57 Million in 2023, projecting it to reach US$ 41,979.87 Million by 2031. This translates to a CAGR of approximately 22.6% during the forecast period.
The North America AI Data Management Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America AI Data Management Market report:
The North America AI Data Management Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America AI Data Management Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America AI Data Management Market value chain can benefit from the information contained in a comprehensive market report.
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