Market Size And Forecast: Industrial Data Management Software 2023-2029 (Global)

Executive Summary

The report helps executives at industrial data management software firms, current and prospective investors, and digital service providers active in the broader industrial software ecosystem understand the current size and forecast growth of the industrial data management software market. Based on a bottom-up analysis of revenues, interviews with software suppliers and survey data from 304 decision-makers at industrial firms, Verdantix finds that the industrial data management software market will grow from $2.1 billion in 2023 to $6.1 billion in 2029, at a CAGR of 19.9%. Growth will be driven largely by increasing awareness of the return on investment (ROI) delivered by AI-driven analytics from industrial data; expanding applications of large language models (LLMs) and graph modelling to improve discoverability and access to data; and the need for strong data quality management and lineage visibility for AI governance. Conversely, low digital maturity and a lack of awareness of the value delivered by industrial DataOps solutions will slow investment.