According to
market research report "Data Fabric Market by Type (Disk-Based,
In-Memory), Business Applications (Fraud Detection and Security Management,
Customer Experience Management, Business Process Management, GRC Management),
Service, Vertical and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Data Fabric Market size to grow from USD 1.0 billion
in 2020 to USD 4.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of
26.3% during the forecast period.
Various factors such as increasing volume and variety of business data,
emerging need for business agility and accessibility, and growing demand for
real-time streaming analytics are expected to drive the adoption of the data
fabric solutions and services.
Browse and in-depth TOC on
“Data Fabric Market”
144 –
Tables
52 - Figures
211 – Pages
The COVID-19 pandemic has forced businesses to find new alternatives for
speedy recovery and attention to the urgent need to access enough data in
crisis times. Disparate data stores hamper the efforts of business leaders to
make fully informed decisions. Using a modern data architecture approach called
data fabric, Ernst & Young (EY) developed Business Resiliency Data Fabric
that enables access to data wherever it lives. Data fabric supports rapid
technological change while increasing data entropy. To help alleviate the
consequences of COVID-19, Denodo launched the Coronavirus Data Portal (CDP), a
collaborative initiative that leverages data virtualization to unify critical
datasets originally exposed in different formats from multiple sources and
countries and make the unified data open to everyone. Using the CDP and the
data virtualization capabilities of the Denodo Platform, pmOne created detailed
reports and AI analysis, seamlessly orchestrating all the information streams
in the pmOne Share Cockpit. The collaboration of Denodo and pmOne provided the
global community with trustworthy, up-to-date data about COVID-19 that can be
used to develop new intelligence about COVID-19 and reduce its impact. Banks
have transitioned to remote sales and service teams and launched digital
outreach to customers to make flexible payment arrangements for loans and
mortgages. Grocery stores have shifted to online ordering and delivery as their
primary business. Schools in many locales have pivoted to 100% online learning
and digital classrooms. Doctors have begun delivering telemedicine, aided by
more flexible regulation. These approaches have resulted in the rise of volume
and variety of business data, the rise in need for business agility and data
accessibility, and increasing demand for real-time streaming analytics,
contributing to the growth of the Data Fabric Market
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The services segment to hold higher CAGR during the
forecast period
Based on components, the Data Fabric Market is segmented into
software and services. Data fabric makes the movement of data between cloud,
storage systems, and data centers smoother, with low latency contributing to
the adoption of data fabric software. The services segment, on the other hand,
has been bifurcated into consulting services, support and maintenance, and education
and training services. The services segment is expected to account for higher
CAGR during the forecast as services are required by organizations to bring
about effective data fabric implementation strategies that can be handled by
third-party companies, and the organizations can concentrate on their core
businesses.
The large enterprises segment to hold largest market size during
the forecast period
The Data Fabric Market has been segmented by organization size
into large enterprises and SMEs. The market share of large enterprises is
higher; however, the market for SMEs is expected to register a higher CAGR
during the forecast period. The demand for data fabric is accelerating due to
its cost-effective and time-efficient feature; its growth is specifically high
in large enterprises, where low-cost solutions are in demand.
The cloudsegment to have higher CAGR during the forecst period
Based on deployment mode, the market has been segmented into
on-premises and cloud. The on-premises segment is expected to hold largest
market size while the cloud segment is expected to account for higher CAGR
during the forecast period due to the ease of using only the functionalities
without knowing the implementation. The cloud deployment mode is being widely
adopted by enterprises in all regions where data security is a major concern.
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Banking, Financial services, and Insurance segment to have
the largest marketsize during the forecast period
The Data Fabric Market by vertical has been categorized into 9
different verticals, namely, BFSI, telecommunications and IT, retail and
e-commerce, healthcare and life sciences, manufacturing, government, energy and
utilities, media and entertainment, and others. The other verticals comprise
transportation and logistics, travel and hospitality, and education. The market
size of BFSI segment is expected to be the largest as data fabric can help
financial institutions by providing a flexible means for ingesting data from
enterprise and external systems, storing data securely, generating insights,
and providing access through data services (APIs) while maintaining cost
efficiency. This leads to its adoption in the BFSI sector.
North America to hold largest market size during the forecast
period
North America has been at the forefront in driving the major
portion of the revenue generated by the data management and analytics vendors.
State-of-the-art infrastructure, high funding opportunities, widespread
customer base across several industries, and availability of a highly-skilled
workforce have been major contributors to the innovation and early adoption of
various technologies such as big data and related technologies, analytics, and
IoT. Rapid digitalization across industry verticals, increasing adoption of
IoT-enabled technologies, and technological advancements are fueling the
adoption of data fabric in North America.
Major vendors in the global Data
Fabric Market include Denodo Technologies (US), Global IDs (US), IBM
Corporation (US), Informatica (US), NetApp (US), Oracle Corporation (US), SAP
SE (Germany), Software AG (Germany), Splunk (US), Talend (US), Dell
Technologies (US), HP Enterprise (US), Teradata Corporation (US), TIBCO
Software (US), Precisely (US), Idera (US), Nexla (US), Stardog (US), Gluent
(US), Starburst Data (US), HEXstream (US), QOMPLX (US), CluedIn (Denmark),
Iguazio (Israel), and Cinchy (Canada).
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