-- The global data fabric market size reached USD 1.14 Billion in 2020 and is expected to register a revenue CAGR of 27.2%, during the forecast period, according to latest analysis by Emergen Research. The management and use of data by organisations across several industries is being revolutionised by the rapidly expanding data fabric market. Data fabric is a platform that unifies many data sources and applications into a single fabric to provide seamless enterprise-wide data access and management. Over the coming years, the demand for real-time data analytics, rising adoption of cloud-based technologies, and the necessity to handle intricate data structures will all contribute to a major growth in the data fabric industry.
The market for data fabrics is being primarily stimulated by the growing use of cloud-based technologies. The use of cloud-based applications and services has increased significantly over the past few years, and cloud computing has become a critical component of the IT infrastructure of many organisations. Data fabric solutions give organisations more flexibility and control over their data by allowing them to combine and manage data across various cloud platforms and apps.
The rising demand for real-time data analytics is another major factor driving the data fabric industry. Real-time data analytics are now crucial for businesses to obtain insights and make wise decisions due to the growing volume and complexity of data generated by organisations. Data fabric solutions make it possible to access and analyse data in real time across numerous systems and applications, assisting businesses in making better decisions by utilising their data.
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The data fabric market does, however, also confront some obstacles and limitations. The complexity of data structures and the requirement to combine data from various sources and applications are one of the main obstacles. For organisations that lack the resources or knowledge necessary to efficiently manage large data architectures, this can be a major obstacle.
The growing worries about data security and privacy are another hindrance to the expansion of the data fabric market. Data breaches and cyber attacks are more likely now that organisations are producing and storing a larger number of data. Because of this, many businesses are reluctant to implement new data management technologies without first putting strong security protocols in place.
Despite these difficulties, the data fabric market is anticipated to expand significantly over the next few years. Growth in the market is anticipated to be fueled by the rising demand for real-time data analytics and the expanding use of cloud-based technologies.
Data Fabric Market Segmentation:
The global data fabric market has been segmented by Emergen Research based on various factors, including component, type, deployment, organization size, application, and end-use, and region. In terms of component, the market has been divided into solutions and services, with services further segmented into professional services and managed services. The demand for managed services and professional services is expected to increase during the forecast period owing to the growing need for support and maintenance for data fabric solutions and consulting and implementation services.
On the basis of type, the market has been segmented into in-memory data fabric and disk-based data fabric. The deployment outlook of the data fabric market includes on-premises and on-cloud solutions. On-cloud data fabric solutions are expected to register a steady revenue growth rate during the forecast period owing to their cost-effectiveness and scalability.
The organization size outlook of the data fabric market includes small and medium-sized enterprises and large enterprises. Small and medium-sized enterprises are expected to register a robust revenue growth rate over the forecast period due to the increasing adoption of cloud-based technologies and the need to manage complex data architectures.
In terms of application, the data fabric market has been segmented into 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, and others. The increasing demand for data analytics and management solutions for improving business performance is expected to drive the growth of the data fabric market in these applications.
The end-use outlook of the data fabric market includes IT and telecom, manufacturing, BFSI, government, healthcare, transportation and logistics, media and entertainment, retail and e-commerce, energy and utilities, education, travel and hospitality, and others. The demand for data fabric solutions is expected to increase across various industries owing to the need for efficient data management and analysis for improving business operations and customer experience.
The report also provides a regional analysis of the market, with a focus on North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Some Key Highlights From the Report
- Service segment revenue is expected to expand at a significantly steady CAGR during the forecast period owing to the increasing demand for managed services and professional services in the data fabric market. Managed services provide organizations with support and maintenance for their data fabric solutions, helping them to manage complex data architectures more efficiently. Professional services, such as consulting and implementation services, help organizations to deploy and optimize data fabric solutions to meet their specific business needs.
- Small and medium-sized enterprise segment is expected to register a significantly robust revenue growth rate over the forecast period owing to the increasing adoption of data fabric solutions by small and medium-sized enterprises (SMEs). Data fabric solutions provide SMEs with a cost-effective and efficient way to manage their data architectures and gain insights into their business operations.
- On-cloud segment is expected to register a steady revenue growth rate due to the growing adoption of cloud-based technologies and the need for scalable and flexible data management solutions. On-cloud data fabric solutions provide organizations with the ability to store, manage, and analyze large volumes of data on cloud-based platforms, such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform.
- North America market is expected to register considerably fast revenue CAGR than other regional markets due to factors such as the increasing adoption of cloud-based technologies, the presence of major players in the region, and the growing demand for data analytics and management solutions across various industries such as BFSI, healthcare, and retail.
- Some major companies included in the global 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.
- NetApp, Inc. announced new features and improvements to its hybrid cloud portfolio in October 2021 to assist organisations in modernising their current IT infrastructure and accelerating digitalization. With new and secure ways to consume and manage data services both on-premises and in the cloud, NetApp hybrid cloud-based solutions make it simpler for corporate clients to use the data whenever businesses need it.
About Us: Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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