The global data fabric market size 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, customers 360 self-service analytics. Moreover, the growing digital transformations in businesses escalate market demand.
According to Market Research Future (MRFR), the global data fabric market is poised to grow at 18% CAGR throughout the forecast period (2017 – 2023). 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.
Additionally, rapid adoption of disruptive technologies such as wearable, mobile, big data, virtual reality, sensors, and robotics in retail sectors worldwide, accelerate market growth. The rapid adoption of cloud-based services and advanced algorithms deployment in BFSI and retail & manufacturing sectors drive the data fabric industry.
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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.
The data fabric market in the Asia Pacific region is growing rapidly. Factors such as the proliferation of digitization in businesses drive the growth of the regional market. The rising adoption of robotic process automation in enterprises to enhance operational performance influences the growth of the regional market.
Augmenting demand for automation tools from increasing numbers of retailers and businesses acts as a major tailwind for the regional market growth. Substantial investments made by key players for the improvements in services positively impact the growth of the regional market. India and China are major markets for data fabric solutions & services in the region. The APAC data fabric market is expected to grow at a significant rate during the forecast 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.
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), and Teradata Corporation (US), among others.
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September 29, 2020 —- Denodo (the US), a global leader in data virtualization, announced that its new Denodo Platform version 8.0 that 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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