Leading into 2023, I see a significant shift toward the use of data for real-time decision-making becoming a reality for all sizes of companies, as technology in this space has innovated and matured over the past few years.
A phrase I heard many times in 2022 from vendors and customers is "data is the business." This emphasizes the importance organizations are putting on using internal and external data for decision-making, innovating for a competitive advantage and increased profitability.
As we start the new year, we already see the first database mega acquisition of MarkLogic by Progress for $355 million. I assess that this acquisition will increase data management capabilities to address the needs of data-driven organizations, which require a higher level of database functionality to achieve their goals.
2023 will likely be a year where organizations getting real-time data insights for business and consumer decision-making accelerates in growth and becomes more prolific in midsize companies. Only 4% of organizations said they get immediate data insights, according to the 2022 "Cloud Analytics Trends" research report from TechTarget's Enterprise Strategy Group. In comparison, an additional 45% of organizations reported a week or longer to get quality insights into their data. New technology is driving costs down to where midmarket companies can implement the same technology as Fortune 500 companies -- available in public clouds and at cloud scale -- to better use their data for decision-making. We predict a high adoption rate in 2023 of these technologies and for real-time data insights to improve significantly.
Related to this trend, cloud consolidation for data management should continue as the ecosystem of cloud-enabled technologies becomes more tightly integrated into the cloud fabric to deliver an end-to-end modern data platform. This includes data collection, management -- such as databases, data lakes and data warehouses -- quality, analytics and more to empower faster and more accurate business and consumer decisions. The vendor ecosystem will become more integrated and succinct in 2023 to make it easy for any size of company to use data to compete, increase profitability and innovate.
DataOps will also become more widespread in organizations, as data is driving the business. DataOps as a methodology aims to improve the speed, quality and collaboration of data processing and management by automating and integrating the various stages of the data pipeline. Its importance is increasing as organizations seek to use data to drive business decisions and gain a competitive advantage. The DataOps methodology oversees the ecosystem of vendors and products across the data platform and data pipeline.
We expect the DataOps market to continue growing in the coming years as more organizations adopt this methodology to improve their data processes. The increasing volume and complexity of data, the need for real-time data analytics, and the growing importance of data governance and compliance are among the key drivers of this growth.
However, some challenges must be overcome to realize the benefits of DataOps fully. Some of these challenges include the lack of standardization and best practices, the need for skilled personnel and the need to integrate DataOps with existing IT systems and processes.
Overall, the DataOps market should continue to evolve and mature in the coming years, with new products and vendors entering the market and existing ones expanding their offerings. As organizations increasingly recognize the importance of data, the demand for DataOps solutions is likely to continue to grow.
We will be updating our research on the topic of DataOps in early 2023.