Market Overview:
According to Market Research Future (MRFR), the global data fabric market is poised to grow at 18.40% CAGR throughout the forecast period (2023 - 2032). Advances in cloud computing provide key capabilities to help the healthcare industry redesign storage systems to keep pace with tremendous data growth in clinical data. The rising awareness for the benefits of digitalized automation in workflow increases the data fabric solution adoption for automation.
The global data fabric market is growing rapidly. The market growth attributes to the rising adoption of automation and digitization across the industries. Besides, increasing demand for data fabric solutions in BFSI, automotive, retail, healthcare, and e-commerce sectors, substantiate market growth. Data fabric solution delivers a unified, intelligent, and integrated end-to-end platform to support new & emerging use cases.
Data fabric software integrates key data management components, including data ingestion, data integration, data transformation, data governance & security, supporting new & emerging use cases, including real-time & on-demand analytics, IoT analytics, and customers 360 self-service analytics. Moreover, the growing digital transformations in businesses escalate market demand.
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Global Data Fabric Market - Segments
The report is segmented into five dynamics;
By Type: Disk-based and In-memory.
By Application: Business Process Management, GRC (Governance, risk management, and compliance) Management, Customer Experience Management, Fraud Detection, Security Management, and others.
By Service: Managed and Professional Services.
By Vertical: Healthcare, BFSI, Automotive, Retail & E-Commerce, Media & Entertainment, Energy & Utilities, and others.
By Regions: Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global Data Fabric Market - Regional Analysis
North America dominates the global data fabric market. The largest market share attributes to the strong presence of notable players and well-established development centers, allowing the early adoption of advanced technologies and digital transformation. Besides, increasing R&D investments to develop automation technologies and services drive the growth of the regional market.
Moreover, the increasing adoption of digital automation process across the end-user industries boosts the regional market growth. The North American data fabric market is projected to retain its dominance throughout the forecast period.
Europe stands second in the global data fabric market. The market rise attributes to the presence of many notable service providers and large deployments of automation platforms. Additionally, the rising numbers of businesses act as a major tailwind for the growth of the regional market. The high adoption of data fabric tools pushes the development of the regional market. The European data fabric market is predicted to create a substantial revenue pocket during the assessment period.
Global Data Fabric Market - Competitive Analysis
Highly competitive, the data fabric market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products.
Major Players:
Players leading the data fabric market include
- Informatica (US)
- SAP SE (Germany)
- Splunk Inc. (US)
- Syncsort Inc. (US)
- Denodo (US)
- IBM Corporation (US)
- Global DS (US)
- Oracle Corporation (US)
- K2 View (US)
- Teradata Corporation (US)
Industry/Innovation/Related News:
September 29, 2020 ---- Denodo (the US), a global leader in data virtualization, announced that its new Denodo Platform version 8.0 can accelerate hybrid/multi-cloud integration automates data management with artificial intelligence (AI)/machine learning (ML), and boosts performance with smart query acceleration.
Denodo’s already advanced data integration Platform, management, and delivery capabilities with intelligent recommendations, hyper-performance, and PaaS support, Denodo Platform 8.0 advances data virtualization into a logical data fabric.
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