BANGALORE, India, Sept. 30, 2021 /PRNewswire/ -- Data Fabric Market By Type - Managed Services, Professional Services, By Application- Fraud Detection and Security Management, Customer Experience Management, Governance, Risk, And Compliance Management, Sales and Marketing Management, Business Process Management, Others. Global Opportunity Analysis and Industry Forecast, 2021 - 2027. It is published in Valuates Reports under the Business Operations Category.
The global Data Fabric market size is projected to reach USD 1870 million by 2026, from USD 695 million in 2019, at a CAGR of 15.1% during 2021-2026.
Major factors driving the growth of the Data Fabric Market are:
The adoption of data fabric software and services is projected to be driven by a number of factors, including an increase in the volume and variety of corporate data, a developing need for business agility and accessibility, and a growing desire to standardize API and features, access consistently and easy way to import and consume all kinds of data within an organisation.
Because of the growing requirement to resolve business process-related issues in real-time and the need to streamline operations across industries, data fabric adoption for business process management is likely to skyrocket in the next few years. This in turn is expected to drive the growth of the Data Fabric Market.
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TRENDS INFLUENCING THE GROWTH OF DATA FABRIC MARKET
Data fabric systems and services offer unrivaled capabilities for integrating and analyzing structured, semi-structured, and unstructured data sets that would otherwise be overlooked. Due to the expansion of digital and smart technologies across various business operations, not only the diversity of business data but also the number of such data sets is expanding day by day. Most businesses are concerned about storing and getting insight from this data. By the end of the decade, the amount of data that needs to be managed will be enormous. Data fabric enables the smooth integration of data from many sources, storage of massive amounts of data, and analysis of that data in one location.
Security management is tough for enterprises due to the volume, variety, and velocity of data, and fraud prevention is a major issue. Data fabric detects data abnormalities automatically and takes appropriate steps to correct them. This reduces losses while also improving regulatory compliance. This feature is in turn expected to drive the growth of the Data Fabric Market.
Need for better and accurate data insights to make an informed decision for Sales and Marketing Management is expected to drive the growth of the Data Fabric Market. Data fabric offers sales and marketing teams data retrieved from embedded devices, online logs, and other sources, allowing them to gain a deeper understanding of client habits and preferences. This can aid in the development of strategies that have a higher return on investment and better outcomes.
The need for Data Governance and Compliance is expected to drive the growth of the Data Fabric Market. Compliance management has become a vital undertaking for firms as legal standards for data governance and risk management become more demanding. Data fabric allows for the definition of organizational governance norms and controls, as well as the improvement of risk management capabilities and monitoring through operational dashboards and risk scorecards. It also enhances cost-savings on potential regulatory penalties and protects brand reputation by eliminating non-compliance.
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DATA FABRIC MARKET SHARE ANALYSIS
The Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest share of the data fabric market in 2017. People's growing demand to simplify their workload linked to security, as well as their increasing reliance on data provided by various IT systems used for financial transactions, are driving the segment growth.
Due to the growing requirement to manage data from many connected machines and other IT systems, such as supply chain management, the manufacturing vertical is expected to develop at the fastest CAGR throughout the projection period.
Based on region, the Asia-Pacific region is expected to be the most lucrative segment due to its growing technology adoption rate.
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Data Fabric Market By Type
- Managed Services
- Professional Services
Data Fabric Market By Application
- Fraud Detection and Security Management
- Customer Experience Management
- Governance, Risk, And Compliance Management
- Sales and Marketing Management
- Business Process Management
- Others
Data Fabric Market By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Data Fabric Market By Company
- Denodo Technologies
- Global IDS
- IBM
- Informatica
- NetApp
- Oracle
- SAP SE
- Software AG
- Splunk
- Syncsort
- Talend S.A.
- VMware
- Hewlett Packard Enterprise Company
- Teradata
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