Data Fabric Market size is expected to grow USD 10,166.0 Mn by 2030

Description

According to the Market Statsville Group (MSG), the global data fabric market size is expected to grow from USD 1,261.2 million in 2021 to USD 10,166.0 million by 2030 at a CAGR of 26.1% from 2022 to 2030. Data fabric is a mixed data management platform that effectively combines real-time and historical data. It is a software-enabled approach that helps businesses connect substantial storage resources (such as on-premises and cloud storage) with data management. The recent development of organized and unstructured business data across various industry verticals is likely to be an essential driver of the data fabric market over the forecast period. Execution of data fabric solutions in various sectors such as retail & e-commerce, telecommunication & banking, health care, and financial services & insurances and the growing demand for real-time running analytics are driving factors for the data fabric market. The deficiency of concern among customers is likely to drive the data fabric market over the next few years. The adoption of software-based technologies is predicted to create additional scope for the market's growth over the forecast period. Big Data Fabrics is predicted to ease and remote the analysis process, thereby stemming valuable insights out of the vast volume of data.

COVID-19 Impact on the Global Data Fabric Market

COVID-19 pandemic has badly impacted industries across nations. Industries such as banking, financial services, and insurance (BFSI), retail, manufacturing, healthcare, and education are facing crucial challenges due to the disturbance in the supply chain, production plants, limitations on in-house staff capacity, and delayed customer service. Thus, there is a considerable shift in remote working solutions and digital transformation amid pandemic crises. Banks have switched to remote sales and service teams and launched digital outreach to users to make flexible payment arrangements for mortgages and loans. Grocery stores have transferred to online ordering and home delivering as their main business. Schools have moved to 100% online learning and digital classrooms in many locales. Doctors have started delivering telemedicine, aided by elastic regulation. These approaches have appeared in the increase in volume and types of business data, the increase in requirement for data accessibility, business agility, and rising demand for real-time streaming analytics, contributing to the growth of the data fabric market.

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Scope of the Global Data Fabric Market

The study categorizes the Data Fabric Market based on deployment, type, enterprise size, and industry verticals at regional and global levels.

By Deployment Outlook (Revenue, USD Million, 2017-2030)

• On-Premises
• Cloud

By Type Outlook (Revenue, USD Million, 2017-2030)

• Disk-based Data Fabric
• In-memory Data Fabric

By Enterprise Size Outlook (Revenue, USD Million, 2017-2030)

• Small and Medium Enterprises
• Large Enterprises

By Industry Vertical Outlook (Revenue, USD Million, 2017-2030)

• BFSI
• Telecommunications & IT
• Retail & Ecommerce
• Healthcare
• Manufacturing
• Government
• Energy & Utilities
• Media & Entertainment
• Others

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By Region Outlook (Revenue, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• The Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • the Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The cloud-based deployment segment is accounted for the highest market share, by deployment

Based on the deployment, the market is divided into on-premises and cloud. The cloud segment dominated the data fabric market in 2021 and is expected to carry on with this trend during the forecast period. Data fabric architecture holds data sources that reside at disparate locations; therefore, it is broadly used to integrate cloud-based data sources. This is one of the main factors that is predicted to drive the growth of the global market during the forecast period.

Asia Pacific accounts for the highest CAGR during the forecast period

Asia Pacific is the fastest growing region in the data fabric market. The growth in IT spending capability of the developing countries in the Asia-Pacific to stay competitive in the global market has significantly increased the region's growth. Further, the growing adoption of advanced technologies across the region boosts the market’s growth. The major countries in APAC that are technology-driven and present great opportunities in terms of investments and revenue include India, Australia, Japan, China, and South Korea. This is the major driving factor for adopting Data fabric software in APAC.

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Key Market Players in the Global Data Fabric Market

• Denodo Technologies
• Global IDs Inc.
• Hewlett Packard Enterprise Development LP
• International Business Machines Corporation
• NetApp, Inc.
• Oracle Corporation
• SAP SE
• Software AG
• Splunk Inc.
• Talend S.A.

Article source: https://article-realm.com/article/Finance/22961-Data-Fabric-Market-size-is-expected-to-grow-USD-10-166-0-Mn-by-2030.html