Global Data Fabric Market Size, Share, and COVID-19 Impact Analysis, By Type (Disk-based, In-memory), By Deployment (On-premises, Cloud), By Application (Fraud Detection & Security Management, Governance, Risk & Compliance Management, Customer Experience Management, Sales & Marketing Management, Business Process Management, Others), By Enterprise Size (SMEs, Large Enterprise), By End User (BFSI, IT & Telecom, Retail & E-Commerce, Healthcare & Life Sciences, Manufacturing, Government, Energy & Utilities, Media & Entertainment, Education, Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The Global Data Fabric Market is projected to grow from USD 1.14 billion in 2021 to USD 5.4 billion by 2030 at a CAGR of 26.3% during the forecast period. The term "data fabric" refers to a set of data services that provide resources to a variety of endpoints. These assets are spread over numerous cloud environments, and on-premises cloud infrastructure. Data fabric brings together data placement, data management, file data analysis, and service-level definition in one place. The service delivers a uniform and integrated cloud data service for data access, data insights, security, and visibility. It's a robust architecture that harmonizes data management standards and procedures across on-premises, cloud, and edge devices. A data fabric delivers various benefits, including data access and management, data visibility and insights, data security and protection.
The Data Fabric Market is growing due to the increasing volume and variety of enterprise data, as well as the growing demand for business accessibility and agility. The rise in demand for real-time streaming analytics could propel the market growth. In addition, the market is being driven by a rise in cloud-based technology usage since it allows apps and tools to access data through a variety of interfaces that a company has established. A significant growth in data volume and complexity as a result of growing mobile data and cloud computing traffic, as well as greater research and use of technologies such as IoT and AI, are driving demand for big data analytics technology.
Due to the pandemic, the rapid push to digitalization created volatile and new data sources. This wreaked havoc on businesses' ability to manage massive amounts of data. For example, as students throughout the world migrated to online learning tools in 2020, Blackboard Inc. saw an overnight increase in daily log volumes. As a result, several companies built data management architecture into their workflow systems to deal with the exponential influx of data during pandemics. As a result, organizations all over the world began aggressively implementing technologies to expedite digital transformation.
Boosting Market Growth with Improved Data Security with Data Management Solutions
Secure and robust data is required for effective business operations and successful outcomes. Businesses can obtain secure data by adhering to international rules that protect the sensitive data of their clients or customers. According to the Consumer Intelligence Series: Trusted Tech Report, 80 percent to 90 percent of customers in nations including the United States, Canada, China, India, the United Kingdom, and others want their data to be protected by more trusted organizations. As a result, more secure data management technologies have become essential for enterprises all over the world. Data fabric is a well-structured architecture that adds an extra layer of protection against illegal data access and exploitation. Its ecosystem offers a secure-by-design platform for dependable data handling.
Rising Volume and Variety of Corporate Data Boost Market Growth
The number of connected devices has expanded, which has resulted in a growth in the volume and variety of business data generated by these devices. Cameras and sensors are used to continuously monitor the premises and collect location data. As a result, the requirement for businesses to get useful insights from obtained data has grown dramatically, fueling business adoption of data analytics. Data fabric is a commonly utilized intrusion into analytics framework that is responsible for data integration and management from various sources within a single environment. As a result, rising adoption of big data analytics and need for analytics will propel the global market forward throughout the forecast period.
Lack of Awareness Associated To Data Fabric Restrain Market Growth
Data is a significant component of data-driven organizations that serve a variety of applications. The architecture connects data to corporate functions such as human resources, sales, finance, and operations, among others. On the other hand, these connections do not keep track of previous data transactions. Data scientists, machine learning developers, business analysts, and other users could benefit from this transaction. Its architecture lacks the necessary unit to incorporate this information. Similarly, the lack of sight into data stored in the cloud restricts direct management over the data. The lack of visibility is expected to have an impact on the data protection and governance, stifling market expansion.
The Global Data Fabric Market is segmented by Type, Deployment, Application, Enterprise Size, End User, and Region. Based on the Type, the market is categorized into Disk-based, In-memory. Based on Deployment, the market is categorized into On-premises, Cloud. Based on Application, the market is categorized into Fraud Detection & Security Management, Governance, Risk & Compliance Management, Customer Experience Management, Sales & Marketing Management, Business Process Management, Others. Based on the Enterprise Size, the market is categorized into SMEs, Large Enterprise. Based on the End User, the market is categorized into BFSI, IT & Telecom, Retail & E-Commerce, Healthcare & Life Sciences, Manufacturing, Government, Energy & Utilities, Media & Entertainment, Education, Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
The Global data Fabric Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
North America dominates the data fabric market due to the vast number of data management solution suppliers in the United States. In addition, the region is known for being one of the first to adopt modern technologies. The presence of most data centers and the increase in data collecting from unstructured sources are the primary driving drivers for the industry in the United States.
Europe region is anticipated to the second largest market for data fabric due to the increasing adoption of data management tools and big data technologies. The growing usage of electronic devices and networks, developments in information and communication technology, and the digitization of manufacturing processes are all creating large amounts of data on a daily basis. Europe's major countries include the United Kingdom, France, Germany, Russia, the Nordic countries, and Italy.
Asia Pacific is expected to be the fastest-growing region during the projection period. A growing number of data centers, as well as a rapid shift toward digitalization, are two reasons that could drive the solution's adoption throughout Asia Pacific. China is the world's second-largest data center adopter, trailing only the United States. According to the research, China's big data business is expected to continue to grow steadily in the future years. However, the adoption of cloud and IoT, as well as forthcoming mobile business intelligence and domain-specific solutions, are driving product demand in the Middle East and Africa market. Similarly, increased demand for Software-as-a-Service (SaaS) and quick adoption of analytical solutions by organizations of all kinds are driving the growth of the South American industry.
KEY INDUSTRY PLAYERS
The data fabric firms are collaborating to combine their technological skills in cloud integration, analytics, and AI to provide superior insights to customers based on their requirements. Similarly, these firms are investing in innovations and advancements in order to extend their market presence. A new product, new service, or enhancement of an existing product can be used to generate market demand and provide a solution to the demands of customers or partners. For instance, NetApp Inc. introduced ONTAP data management software in October 2021 to create a hybrid multi-cloud data management platform. On the public cloud, it provides high-performance storage and accelerated integration.
KEY INDUSTRY DEVELOPMENTS:
September 2021, TIBCO Software Inc. released TIBCO DQ, a new solution, as well as updates to existing Data Virtualization and Unify products. The product aids businesses in putting together agile tools on any cloud. It also has artificial intelligence (AI) and machine learning (ML) capabilities for automated detection and monitoring.
December 2021, NetApp Inc. and Kyndryl announced an agreement with BMW Group to offer data infrastructure to the automobile company. NetApp's fabric aids in the speeding up of the company's new ideas.
March 2021, Hewlett Packard Enterprise Company announced enhancements to its HPE Ezmeral software portfolio to support the company's ongoing digital transformation. HPE Ezmeral is a standalone platform that has integrated capabilities like ML Ops and HPE Ezmeral Container Platform.
LIST OF KEY COMPANIES PROFILED:
- IBM Corporation
- Hewlett Packard Enterprise Development LP
- TIBCO Software Inc.
- Denodo Technologies
- Neo4j, Inc.
- Fraud Detection & Security Management
- Risk & Compliance Management
- Customer Experience Management
- Sales & Marketing Management
- Business Process Management
By Enterprise Size
- Large Enterprise
By End User
- IT & Telecom
- Retail & E-Commerce
- Healthcare & Life Sciences
- Energy & Utilities
- Media & Entertainment
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy, Spain, Rest of Europe
- Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
- South America- Brazil, Argentina, Colombia, Rest of South America
- The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa