Global Data Fabric Market Size to grow by 5.4 Billion in 2030.

RELEASE DATE
June-2022

CATEGORY
Information-Technology-Communication-IoT

REGION
Global

Press Release

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.

Data Fabric Market 1

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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. 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.

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.

Data Fabric Market 2

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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.

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.

Data Fabric Market 3

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sia 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.

KEY INDUSTRY DEVELOPMENTS:

· In 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.

In 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.

In 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.