Data Fabric Market Scope and Overview
The Data Fabric Market size was valued at USD 2.20 billion in 2023, with a projected CAGR of 29.9% to reach USD 17.83 billion by 2031, as per SNS Insider report. The emergence of online platforms and the digital revolution has raised data generation boosting the market growth. The organizations keep the data and the knowledge derived from diverse remote sources. Hence, offering rapid access to the data across diverse landscapes presents various challenges for data management providers. The dispersion and variety of business data assets accelerate data management and data integration complexes, thus raising the likeliness of data fabric adoption in organizations.
Big data analytics has grabbed much attention from researchers. Global investments in big data analytics have raised a million dollars from private as well as public forums. The demand for big data analytics technologies is propelled by a rapid rise in data volume and complexes owing to rising cloud computing and mobile data traffic, along with the development and adoption of technologies such as AI and the IoT. Companies are estimated to build a data fabric to power enterprise-wide data and analytics and automate multiple tasks involved in data integration, ingestion, exploration, and preparation.
In addition to this, banks have started digital outreach to customers and switched to remote sales to deliver flexible payment terms for loans and mortgages. Grocery businesses majorly emphasize online ordering and delivery, while numerous schools currently utilize digital classrooms and online learning. The quantity of corporate data has increased owing to these strategies. Thus, the rising necessities for corporate agility, and data accessibility, & real-time streaming analytics, among other things, are flourishing the expansion of the market growth.
Some of the Major Key Players Studied in this Report are:
- Denodo Technologies
- Global IDs
- Hewlett Packard Enterprise Development LP
- International Business Machines Corporation
- NetApp
- Oracle Corporation
- SAP SE Software AG
- Splunk Inc
- Talend S.A.
- Others
Data Fabric Market Segmentation Analysis
The solution segment is dominating the market. The segment is witnessed to achieve the majority of the market share throughout the forecast period. Data fabric platforms are achieving recognition owing to optimization in business data management. The services sub-segment is expected to grow at a fastest rate during the forecast period. The key players deliver professional services to their customers. With self-service, real-time connectivity, and universal transformations in business, automation, and traditional data integration cannot meet the requirements of today’s businesses. Although most of the organizations collect data from multiple sources, they struggle with integrating, curating, processing, and transforming it. Thus, the services segment in the data fabric market is witnessed to increase.
Market Segmentation and Sub-Segmentation Included Are:
By Component:
- Solutions
- Services
By Organization Size
- Large Enterprises
- SME’s
By Type
- In-Memory
- Disk-based
By Deployment Mode
- On-premises
- On-cloud
By Application
- Fraud Detection & Security Management
- Government, Risk & Compliance Management
- Sales & Marketing Management
- Business Process Management
- Customer Intelligence
- Preventative Maintenance Analysis
- Others
By Verticals
- BFSI
- Government, Defense & Public Agencies
- Manufacturing
- Healthcare & Life Sciences
- Energy & Mining
- Telecom
- Media & Entertainment
- Retail & eCommerce
- Others
Competition in the data fabric market is revolving around innovation and product pipeline upgradation. For example, Atlan’s data fabric offers Metadata began as an internal project. The product showcases its commercial potential owing to its ability to catalog the organization’s Big Data. The system acts as a layer on top of a company’s disparate data infrastructure.
Companies globally are rising focus on making confident business decisions on the basis of consistent, contextual & accurate data. For example, in March 2021, Precisely has announced Clearlake and TA Associates that acquires majority of its stakes in the organization. Centerbridge Partners, only hold a minority equity stake. The deal is witnessed to solve complicated business issues via merger and acquisitions.
Recent Developments
In January 2022, SAP set the standard for enterprise resource planning software with the release of SAP R/2 and SAP R/3. With SAP S/4HANA, ERP is taken to a new level by processing large amounts of data in memory and supporting advanced technologies like AI and machine learning.
The company’s all applications connect overall business areas into an intelligent suite on a digital platform, replacing the process-driven architecture of the legacy platform. Today, SAP has the largest cloud portfolio among providers, with over 230 million cloud users and more than 100 solutions covering all business functions.
Regional Outlook
North America has the highest revenue in 2023. Due to lump-sum data management solution players in the U.S., the North American region dominates the market. Also, the region is considered one of the early adopters of advanced applications & solutions. The presence of most of the data centers and the increase in data collection from unstructured sources are the major complicated propelling for the U.S. market.
Asia Pacific is projected to be the fastest-growing region. A rapid shift towards digitization and the increasing number of data centers are key forces responsible for the adoption of the data fabric solutions in this region. The U.S. is the leading country in the globe, the second being China, for data center adoption. As per the global analysis, the big data industry in China is expected to continue to achieve steady expansion in the upcoming predicted timeframe.
Key Takeaways
- The on-premises segment dominated with a major market share in 2023. On-premises deployment seems to grab less market share than cloud based at the end of the forecast period as it includes vast upfront capital costs alongwith operating costs support costs.
- The BFSI segment is largest revenue contributor in 2023. Majority of state regulations motivates swapping consumer data with an agreement to enhance the customer experience, drive innovation, and to enhance efficiency. Data fabric is a solution to open banking that assist in data management across multiple businesses.
- The large enterprise segment represented the largest revenue share of in 2023. The utilization of vast digital data is predominant in larger enterprises. Additionally, data integration & management is a basic practice in such enterprises.
Table of Contents
- Introduction
- Industry Flowchart
- Research Methodology
- Market Dynamics
- Impact Analysis
- Impact of Ukraine-Russia war
- Impact of Economic Slowdown on Major Economies
- Value Chain Analysis
- Porter’s 5 Forces Model
- PEST Analysis
- Data Fabric Market Segmentation, by Deployment
- Data Fabric Market Segmentation, by Organization Size
- Data Fabric Market Segmentation, by Type
- Data Fabric Market Segmentation, by Deployment Mode
- Data Fabric Market Segmentation, by Application
- Data Fabric Market Segmentation, by Verticals
- Regional Analysis
- Company Profile
- Competitive Landscape
- USE Cases and Best Practices
- Conclusion
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