Data Fabric Market Growth & Trends
The global data fabric market size is expected to reach USD 8.49 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 21.2% from 2022 to 2030. In an extensive data system, data fabric is one of the most significant architectures, providing seamless, real-time integration and access across diversified data silos. There is a considerable growth opportunity in the market that will revolutionize how data is collected, analyzed, and managed.
Data analytics and big data play a more significant role in driving the growth of the global market since they integrate disparate sources of data and provide analytics on them. As data accessibility and business agility become more critical, there is an increase in the adoption of data fabric platforms, which give tools access to data through a wide range of interfaces. However, a lack of data fabric awareness and the absence of a skilled workforce are some factors that hamper the market's growth to a certain extent. In addition, digitalization is a lucrative opportunity for the market growth of data fabrics in emerging economies worldwide.
Traditional programs could be replaced by experiences powered by metadata owing to an accurate data fabric. Although the end user may not recognize the distinction between such experiences and APIs, developing the architecture is easy. The data fabric's network effects, such as data catalog, data integration, and data management, are its most promising feature. A genuine data fabric improves efficiency as it is used more frequently.
The COVID-19 epidemic has only accelerated the market for data fabric's strategic orientation. Data and analytics executives understand that they require automation help rather than continuing to invest in human data integration. Teams that integrate data are constantly changing. The volume of data and, thus, the number of requirements for data integration are increasing exponentially even as team sizes are decreasing. This disparity between supply and demand shows that automation and augmentation must be urgently prioritized. The data fabric architectural design, a crucial use case for this year, must be given increased attention to supporting augmented data integration.
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Data Fabric Market Report Highlights
Europe is expected to witness significant growth over the forecast period. The significant factors contributing to the market's development include increasing volume and variety of business data
Government regulations and data security abiding laws are expected to act as a catalyst in driving the fraud detection and security management segment
Data fabric utilizes ML capabilities of data integration, knowledge graphs, and active metadata enabling faster access to trusted data across distributed landscapes
Asia Pacific is anticipated to witness the highest CAGR during the forecast period. Growing AI and ML adoption across the industries in the region is expected to support the growth
Access Press Release@ https://www.grandviewresearch.com/press-release/global-data-fabric-market
Data Fabric Market Segmentation
Grand View Research has segmented the global data fabric market based on component, deployment, type, enterprise size, business applications, industry, and region:
Data Fabric Component Outlook (Revenue, USD Million, 2017 - 2030)
Solution
Services
Data Fabric Deployment Outlook (Revenue, USD Million, 2017 - 2030)
On-premise
Cloud
Data Fabric Type Outlook (Revenue, USD Million, 2017 - 2030)
Disk-based Data Fabric
In-memory Data Fabric
Data Fabric Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
Small and Medium Enterprise
Large Enterprise
Data Fabric Business Applications Outlook (Revenue, USD Million, 2017 - 2030)
Fraud Detection and Security Management
Governance, Risk and Compliance Management
Customer Experience Management
Sales and Marketing Management
Business Process Management
Other Applications
Data Fabric Industry Outlook (Revenue, USD Million, 2017 - 2030)
BFSI
Telecommunications & IT
Retail & Ecommerce
Healthcare
Manufacturing
Transportation & Logistics
Media & Entertainment
- Others
Data Fabric Region Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Asia Pacific
China
Japan
India
Central and South America
Brazil
Middle East & Africa
List of Key Players in the Data Fabric market
Atlan Pte. Ltd
IBM
Oracle
Talend
SAP
Informatica Inc.
Cloudera Inc.
TIBCO Software Inc.
Amazon Web Services, Inc.
data.world, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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