The global Data Fabric Market Trends 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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