July 16, 2020
As per the report titled ’Global Data Fabric Market Analysis, 2020’, available with Market Study Report LLC, global data fabric market is poised to register remunerative growth, registering an exceptionally high CAGR of 25.5% over 2020-2025.
Increasing digitalization, and widespread adoption of technologies like IoT, AI, and ML are positively influencing the growth of global data fabric market. Additionally, need for data visibility, accessibility, management, and real-time data analytics are adding further momentum to this industry space.
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However, to curb the spread of COVID-19 various organizations and industries had to halt their production which may hamper the market growth. Also, little awareness about data fabrics among end users may hinder the growth of the market during the analysis timeframe.
Global data fabric market is fragmented based on type, organization type, deployment model, components, business application, industry verticals, and regional landscape.
Based on business application, fraud detection and security management segment held notable market share in the year 2019 owing to increasing business data. Also, rapid digitalization across banking and financial services, education, healthcare, and retail and e-commerce, where confidential data is stored and used for analytics purpose, is adding significant traction to the market scenario.
Based on industry verticals, banking, financial services, and insurance segment accounted for substantial market share in 2019 owing to increasing e-banking services. Also, complexity and importance of data generated, and increasing customer focus on risk and compliance management are slated to augment the segmental growth.
By data fabric type, disk-based segment captured the largest fragment of the market in 2019 due to increasing demand for data simplification and integration to expedite digital transformation.
Based on organization type, large enterprises segment held majority of the market share owing to constant spiking-up of data volume.
Based on deployment model, on-premises deployment segment contributed substantially to the market size owing to surging globalization and expansion of industries, which in turn, needs increased data accessibility from any region.
Speaking of the regional landscape, North America held majority of the market share in 2019 owing to surging presence of medium and large enterprises inclining towards digitalization. Also, local and foreign solutions providers influence the market growth. Meanwhile, Asia-Pacific is slated to register notable growth rate due to increasing industrial automation, increasing popularity of smart homes and city projects.
The key players operating in global data fabric market are Denodo Technologies, IBM Corporation, Global IDS, Teradata Corporation, NetApp Inc, Informatics, SAP SE, Oracle Corporation, Splunk, Inc., Software AG, Talend S.A, Syncsort, HP Enterprise Company, VMware Inc, and K2View among others.