The Asia Pacific Data Discovery Market would witness market growth of 16.1 % CAGR during the forecast period (2023-2030).
Integrating Natural Language Processing (NLP) in data discovery tools is gaining prominence. NLP enables users to interact with data using natural language queries, making the analysis process more intuitive and accessible. Users can ask queries in plain language, and the tools will react with relevant visualizations and insights. This trend adds to data analytics democratizing by allowing a greater range of individuals to interact with and extract insights from data. Cloud-based data discovery solutions offer scalability, flexibility, and accessibility, allowing organizations to efficiently manage and analyse vast datasets without needing extensive on-premises infrastructure. This trend aligns with the broader industry movement towards cloud adoption, enabling businesses to leverage the benefits of it in a more agile and cost-effective manner. The increasing use of AI and machine learning in data discovery has raised awareness of Explainable AI (XAI). Organizations seek transparency in AI models to understand how algorithms arrive at specific conclusions. XAI in its tools gives users insights into the logic and reasoning behind AI-generated recommendations, enhancing trust and facilitating more informed decision-making.
The DataOps methodology is gaining traction in data discovery. DataOps emphasizes collaboration and communication between engineers, scientists, and stakeholders to streamline the end-to-end data lifecycle. Agile data management practices, inspired by agile software development, are being applied to enhance the agility and efficiency of data-related processes, including data discovery. Continuous intelligence involves real-time streaming data analysis to provide insights and enable immediate action. In the market, there is a growing demand for solutions that support continuous intelligence, allowing organizations to make data-driven decisions in near real-time. This trend is particularly relevant in finance, healthcare, and IoT industries, where timely insights are critical.
Adopting Electronic Health Records (HER) systems in India is a key driver for data discovery. Healthcare providers in India generate significant data on patient vitals, health trends, and treatment adherence due to the growth of telemedicine and remote patient monitoring technologies. The tools help analyze remote monitoring data for proactive healthcare management. IoT devices and wearables in healthcare provide real-time patient data in India. As per Invest India, India's healthcare industry is expanding at a rapid rate due to its expanding coverage, services, and rising expenditures by both public and private players. In FY17, the hospital industry in India was worth $ 61.79 billion, and it is projected to reach $ 132 billion by 2023. Telemedicine is the eHealth industry with the greatest growth potential in India, with a projected value of $5.40 billion by 2025. Due to these aspects, the market will expand across the Asia Pacific region in upcoming years.
The China market dominated the Asia Pacific Data Discovery Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,087.9 million by 2030. The Japan market is exhibiting a CAGR of 15.4% during (2023 - 2030). Additionally, The India market would experience a CAGR of 16.9% during (2023 - 2030).
Based on Offering, the market is segmented into Solutions, and Services. Based on Deployment, the market is segmented into On-premises, and Cloud. Based on Application, the market is segmented into Security & Risk Management, Asset Management, Sales & Marketing Management, Supply Chain Management, and Others. Based on End-use, the market is segmented into BFSI, Retail & E-commerce, Media & Entertainment, IT & Telecommunication, Government, Healthcare & Lifesciences, Transportation & Logistics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Data Discovery Market is Predict to reach USD 29.4 Billion by 2030, at a CAGR of 15.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce, Inc., SAS Institute Inc., Google LLC (Alphabet Inc.), Amazon Web Services, Inc. (Amazon.Com, Inc.), Open Text Corporation, MicroStrategy, Inc. and Cloudera, Inc.
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