Data Pipeline Tools Market Growth & Trends
The global data pipeline tools market size is anticipated to reach USD 48.3 billion by 2030, registering a CAGR of 24.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing adoption of various technologies, such as AI-based applications, the Internet of Things (IoT), cloud computing, and initiatives for ultra-low latency are expected to create growth opportunities for data pipeline tools and services globally. According to the IBM Global Adoption AI Index 2022 report, 35.0% of the firms reported that they have been using AI in their business operations.
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The COVID-19 outbreak had a positive impact on the data pipeline tools market. One of the factors that can be attributed to the growth in the usage of data pipeline tools can be the implementation of the Internet of Things (IoT). It involves collecting large volumes of unstructured data through sensors which are transformed and transferred with the help of data pipelines to databases for analysis and presentation on the dashboard.
There are various use cases of the Internet of Things (IoT) in the healthcare industry; for instance, South African Gauteng health services, introduced an electronic Bed Management System (eBMS) to track bed availability across various facilities. The IoT sensors installed in the beds provided medical employees the opportunity to instantly determine the availability of the beds using cloud-based technologies. Moreover, the electronic Bed Management System (eBMS) also helped in a significant reduction of wait time resulting in quick access to emergency rooms and other medical facilities.
Data Pipeline Tools Market Report Highlights
- In terms of component, tools dominated the market with a share of 78.3% in 2021. The growth of this segment is attributed to the increase in initiatives taken by key industry players. For instance, in March 2022, K2View announced the launch of its Data Product Platform to build, deliver, and manage data products at a vast scale in real-time
- In terms of type, the ETL data pipeline segment dominated the market with a share of 39.5% in 2021. The increasing demand from businesses to enhance their productivity is fueling the growth of this segment
- In terms of deployment, the cloud segment dominated the market with a share of 70.5% in 2021. In 2021, Cybersecurity Ventures estimated that by 2025 more than 100 zettabytes of data would be stored in the cloud
- In terms of enterprise size, small and medium enterprises are expected to register the highest CAGR of over 25.4% owing to the increasing adoption of cloud computing services
- In terms of application, the real-time analytics segment dominated the market with a share of 22.4% in 2021
- In terms of end users, the healthcare sector witnessed the highest CAGR of 27.5% during the forecast period of 2030
- The market was dominated by the North America region with a share of 34.5% in 2021; the rise in IoT investments is one of the key reasons driving the market in the region
Data Pipeline Tools Market Segmentation
Grand View Research has segmented the global data pipeline tools market by component, type, deployment, enterprise size, application, end-user, and region:
Data Pipeline Tools Component Outlook (Revenue, USD Million, 2017 – 2030)
- Tools
- Services
Data Pipeline Tools Type Outlook (Revenue, USD Million, 2017 – 2030)
- ETL Data Pipeline
- ELT Data Pipeline
- Real-time Data Pipeline
- Batch Data Pipeline
Data Pipeline Tools Deployment Outlook (Revenue, USD Million, 2017 – 2030)
- On-premise
- Cloud-based
Data Pipeline Tools Enterprise Size Outlook (Revenue, USD Million, 2017 – 2030)
- Large Enterprise
- Small And Medium Enterprise
Data Pipeline Tools Application Outlook (Revenue, USD Million, 2017 – 2030)
- Real-Time Analytics
- Predictive Maintenance
- Sales And Marketing Data
- Customer Relationship Management
- Data Traffic Management
- Data Migration
- Others
Data Pipeline Tools End-user Outlook (Revenue, USD Million, 2017 – 2030)
- BFSI
- Retail & E-commerce
- IT & Telecom
- Healthcare
- Transportation And Logistics
- Manufacturing
- Others
Regional Insights
North America dominated the market with a share of 34.5%in 2021. One of the reasons for North America being a leading market is its large investments in AI and other advanced technologies. Moreover, this would increase the usage of data pipeline tools as the transformed data from pipelines are used for performing AI algorithms. For instance, according to the Artificial Intelligence Index Report published in 2022, the amount of newly funded AI companies in the U.S. is two times higher than in China.
Furthermore, the market in the Asia Pacific region is expected to register the highest CAGR of 25.7% during the forecast period. The Asia Pacific is expected to witness the highest growth in the upcoming years owing to the various initiatives taken by a range of industries to reduce latency in this region. For instance, in November 2022, Nokia in collaboration with Australia-based telecommunication company, Optus, announced to launch ultra-low-latency and high-speed network between Melbourne and Sydney.
List of Prominent Players in the Data Pipeline Tools Market
- GoogleLLC
- IBM
- Microsoft Corporation
- Software AG
- Actian Corporation
- Oracle
- Amazon Web Services, Inc.
- Hevo Data Inc.
- K2VIEW
- SnapLogic Inc.
Authoritative Research: https://www.grandviewresearch.com/industry-analysis/data-pipeline-tools-market-report