Data Fabric Market Research Report- Forecast till 2023
Market Research Future (MRFR), in its recently published report, asserts that the global data fabric market 2020 is lucrative and expected to grow exponentially over the review period, recording a substantial market valuation and a healthy 18% CAGR in the forecast period.
Drivers and Restraints
Retailers are deploying disruptive technologies such as mobile, big data, wearable, virtual reality, sensors, and robotics. Growth in cloud space have compelled services operators to rearchitect its storage platform. The rearchitected storage was chosen to meet the demands of the services providers enterprise customers for high capacity, performance, durability, and availability, while still preserving their security posture of data storage and transfer. Data fabric is increasingly adopted as a rearchitect solution in form of infrastructure-as-a-service (IaaS) platform, due to its benefits such as flexibility, replication, scalability, and others. This is a major factor that fuels the growth of the global data fabric market during the forecast period. As data fabric can encompass a extensive variety of data sources on distinct locations the disposition of data fabric solutions for cloud data is anticipated to rise significantly in the coming years amid cloud service providers. This is anticipated to boost the data fabric market growth. With increase in need to make smart decisions on the basis of heterogeneous data analysis which is collected from a diversity of sources, such as smartphones, social networks, IoT devices, rich media, and transaction systems, BFSI are implementation innovative solutions that provide services at ease and speed. This has multiplied the demand for data fabric as it is proficient to fulfill the needs of modern applications, analytics, and operational use cases that integrates data from diverse sources such as files; tables; streams; logs; messaging; rich media, that is, audio and video, images, and containers. Furthermore, retail sector is expected to embrace the modern architecture functionality that provides scalable data analysis as the e-commerce activities are growing the volume of data silos generated by these activities. This in turn provides profitable opportunities for the players operating in the data fabric market trends.
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The global data fabric market is analyzed based on application, type, vertical, services, and region. On basis of type, the market is bifurcated into disk-based and in-memory. The application segment is further classified into customer experience management, business process management, GRC (risk management, Governance, and compliance) management, fraud detection, and security management. The services segment of the market is bifurcated into managed and professional services. The vertical segment is further classified into BFSI, automotive, healthcare, media and entertainment, retail and e-commerce, and energy and utilities, others.
The geographical analysis of the global data fabric market has been conducted in four major regions, comprising the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East and Africa).
The technological developments and early adoption of data management systems in North America is likely to lead the market. The data fabric market in Asia Pacific is expected to grow rapidly over the forecast period. Increasing technological adoption and several opportunities across industry verticals in APAC countries, especially China, India, and Japan are the major driver of the market.
The key market players operating in the global data fabric market as identified by MRFR are SAP SE (Germany), Splunk Inc. (U.S.), Informatica (U.S.), Denodo (U.S.), Syncsort Inc. (U.S.), IBM Corporation (U.S.), Teradata Corporation (U.S.), Oracle Corporation (U.S.), Global DS (U.S.), and K2 View (U.S.). The competitive scenario of the data fabric market is highly competitive due to the increasing adoption of new technologies and market entrants.
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Data Fabric Market: by Type (Disk based, In-memory), by Application (Business process management, GRC management, customer experience management), by service (managed and professional) and vertical (BFSI, automotive, manufacturing) – Forecast till 2023
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