The global data fabric market is witnessing rapid
revenue growth, mainly due to the rising adoption of automation and
digitization across the industries. Data fabric architecture has emerged as an
innovative solution to facilitate data exchange in many disparate business
systems. Resultantly, data fabric perceives vast demand from BFSI, automotive,
retail, healthcare, and e-commerce sectors.
Data fabric
solutions deliver a unified, intelligent, and integrated end-to-end platform to
support new & emerging use cases. With the increasing demand for data
fabric solutions, the market is projected to experience substantiated growth in
the next few years. In this regard, Market Research Future (MRFR) asserts that
the global data fabric market is poised to grow exponentially by 2027, growing
at an impressive CAGR throughout the forecast period (2020 - 2027).
Additionally,
the growing digital transformations in businesses escalate market demand.
Advances in cloud computing provide key capabilities that can help the
healthcare industry redesign storage systems and foster tremendous data growth
in clinical data. Moreover, the rising awareness for the benefits of
digitalized automation in workflow increases the data fabric solution adoption
for automation.
Furthermore,
rapid adoption of disruptive technologies such as wearable, mobile, big data,
virtual reality, sensors, and robotics accelerate market growth. Also, the vast
adoption of cloud-based services and advanced algorithms deployment in BFSI and
retail & manufacturing sectors drive the data fabric industry.
Global Data
Fabric Market – Segments
The report is
segmented into types, applications, services, verticals, and regions. The type
segment is sub-segmented into disk-based and in-memory. The application segment
is sub-segmented into business process management, GRC (governance, risk
management, compliance) management, fraud detection, customer experience
management, security management, and others.
The service
segment is bifurcated into managed and professional services. The vertical
segment is sub-segmented into BFSI, healthcare, automotive, retail &
e-commerce, media & entertainment, energy & utilities, and others. The
region segment is sub-segmented into Asia Pacific, North America, Europe, and
the Rest-of-the-World.
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Global Data
Fabric Market - Regional Analysis
North America
leads the global data fabric market, mainly due to the strong presence of
well-established players and development centers. Besides, increasing R&D
investments in developing automation technologies and services drive the
regional market growth, allowing the early adoption of digital transformation
and advanced technologies. Moreover, the increasing adoption of digital
automation across the end-user industries boosts the region’s data fabric
market size.
Global Data
Fabric Market - Competitive Landscape
Highly
competitive, the data fabric market appears fragmented, with several
well-established players forming a competitive landscape. To support their
growth and expansion plans, players adopt strategies, such as mergers &
acquisitions, collaboration, expansion, and innovations. They strive to deliver
reliable, leading-edge products and services, investing substantially in
R&D to develop adept technologies and products.
Major
Players:
Players
leading the data fabric market include Informatica (US), Splunk Inc. (US), SAP
SE (Germany), Syncsort Inc. (US), IBM Corporation (US), Denodo (US), Global DS
(US), K2 View (US), Oracle Corporation (US), and Teradata Corporation (US),
among others.
Industry/Innovation/Related
News:
Aug. 11, 2021
--- Talend, a data integration company, announced the addition
of a spate of innovations to its data fabric. Talend Data Fabric is a
governance platform designed to manage the health of corporate information.
These
enhancements would allow data professionals to access new integrations to
leading cloud intelligence platforms as well as a self-service API portal and
private connections between Amazon AWS and Microsoft Azure to ensure data
security.
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