Vancouver, BC, Jan. 25, 2022 /PRNewswire/ -- The global data fabric market size reached USD 1.14 Billion in 2020 and is expected to register a steady revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing need for reducing data inconsistency and improving data quality is one of the major factors expected to continue to drive market revenue growth.
Rising need for real-time streaming analytics is another key factor expected to continue to drive market revenue growth. Big data analytics has been a prominent research topic amongst professionals and academics in recent years. Globally, private and government investments in the adoption of big data analytics have been increasing significantly. Rapid increase in data complexity and volume as a result of expanding cellular data and cloud-computing usage and increased use of technologies including Artificial Intelligence (AI) and Internet Of Things (IoT) are driving demand for real-time streaming analytics, which in turn is expected to propel revenue growth of the market.
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Lack of awareness regarding data fabric and shortage of skilled professionals are major factors hampering revenue growth of the market. Additionally, integration issues with legacy systems, and unwillingness to invest in newer technologies are some key factors expected to restrain market revenue growth over the forecast period.
Global data fabric market is expected to register a CAGR of 27.2% over the forecast period and revenue is projected to increase from USD 1.14 Billion in 2020 to USD 7.72 Billion in 2028. Rising adoption of cloud services is boosting market revenue growth.
COVID-19 Impact Analysis:
The COVID-19 outbreak compelled enterprises to seek innovative solutions for rapid recovery while also focusing on the important requirement to access adequate data in times of disaster. Additionally, financial institutions have shifted to remote service and marketing employees and introduced digital outreach to clients in order to offer customizable financing options for loans and mortgages. Majority of universities have implemented online educational and virtual classrooms. Such approaches are resulting in increase in the number and diversity of corporate data, which has been boosting market revenue growth during the pandemic, and is expected to fuel revenue growth of the market in the near future.
Current Trends and Innovations:
The trend in the market is focus on reducing data inconsistency and improving data quality, which will supporting market growth. Data fabric solutions enable self-service data consumption while also incorporating controls and automating the data integration process. Companies are customizing data for better insights, as this also aids in reduction of data inconsistency and improvement of data quality.
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Europe data fabric market is expected to register a significantly steady revenue CAGR over the forecast period. Europe market revenue growth is expected to be driven by rapid adoption of data management systems and cloud solutions across end-users in countries in the region.
Some major companies included in the market report are SAP SE, Informatica, Inc., Global Ids, Inc., International Business Machines Corporation, NetApp, Inc., Oracle Corporation, Splunk, Inc., Teradata Corporation, Idera, Inc., and TIBCO Software, Inc.
- In December 2021, NetApp, Inc. launched the NetApp AFF A900, driven by NetApp ONTAP Enterprise Edition, as the newest development of its all-flash storage system arrays offering. The new AFF A900 provides organizations with the best data storage efficiency to boost business-critical enterprise dataset and application needs, as well as the reliability and security to maintain customer data highly accessible and safe, as well as ease and flexibility which agile organizations' needs.
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Emergen Research has segmented global data fabric on the basis of component, type, deployment, organization size, application, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Professional Services
- Managed Services
- Type Outlook (Revenue, USD Billion; 2018–2028)
- In-Memory Data Fabric
- Disk-based Data Fabric
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Small and Medium-sized Enterprises
- Large Enterprises
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Customer Experience Management
- Fraud Detection and Security Management
- Sales and Marketing Management
- Risk and Compliance Management
- Business Process Management
- Asset Management
- Supply Chain Management
- Workforce Management
- End-Use Outlook (Revenue, USD Billion; 2018–2028)
- IT & Telecom
- Transportation & Logistics
- Media & Entertainment
- Retail & E-Commerce
- Energy & Utilities
- Travel & Hospitality
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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