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DataOps Platform Market Trends

Report ID: GMI5981
Published Date: Jun 2023
Report Format: PDF

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DataOps Platform Market Trends

The rising focus on data governance and compliance, driven by regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), plays a crucial role in propelling the adoption of DataOps platforms. These platforms provide the ability to define and manage data management policies across an organization. These policies provide data retention, data privacy, data management, and data lifecycle management. DataOps platforms, including data management tools that monitor data quality and integrity, facilitate the management of these policies through automation, data tracking, and responsibility management.

These tools identify and resolve issues with data accuracy, completeness, consistency, and timeliness. By maintaining data quality standards, organizations can comply with data management regulations and reduce the risk of non-compliance. In addition, the growing need for automation has prompted organizations to incorporate DataOps to achieve cost efficiency and leverage cloud computing.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of DataOps platform was reached USD 3.4 billion in 2022 and will record over 22% CAGR from 2023-2032, due to the rising adoption of cloud computing to offer efficient & effective ways to organizations to manage their data.

The on-premises deployment mode segment recorded 60% of the market share in 2022, owing to the surging need for greater customization and flexibility.

The BFSI end-use segment exceeded USD 650 million in 2022, driven by the increasing dependency of businesses to make risk-based decisions, customer segmentation, fraud detection, regulatory compliance, and investment strategies.

North America held more than 40% of the market share in 2022, attributed to the growing emphasis on data security & privacy in the region.