The Global Data Fabric Market was valued at USD 1.1 Bn in 2020 and is expected to reach USD 5.7 Bn by 2027, with a growing CAGR of 25.9% during the forecast period.
Data fabric is referred to a set of data services that are intended to manage company data and solve their complicated data problems and use cases. The data structures enable frictionless access and data sharing in a distributed data environment. Data fabric accelerates digital transformation by simplifying and unifying data management across the cloud and on-premises.
The Global Data Fabric Market Snapshot:
The global data fabric market is accounted to dominate in the forecast period at a faster pace. Data fabric solutions and services provide unparalleled opportunities for integrating and analyzing structured, semi-structured, and unstructured data sets. The diversity of business data, as well as the portability of these data sets, is growing rapidly with the evolution of digital and smart technologies across different business functions. Data from sensor data, geolocation data, and computer data, data generated from social media and weblogs, and other sources is increasing day by day. The storage of this data and the acquisition of knowledge are one the most crucial concern to organizations. According to Domo's 8th year of DataNever Sleeps graphics, consumers spend $1 million each day online, making 1.4 million video and audio calls, sharing 150,000 messages on Facebook, and streaming 404,000 hours of video on Netflix. The joint data that has to be managed by the end of the decade is expected to be huge. Data structures help unify data from different sources, store large amounts of data and analyze it seamlessly in one place.
Moreover, companies are turning to big data solutions that manage data and provide instant access to the information. Creating more distinct opportunities for the industry, data accessibility through big data platform capabilities has transformed the need for high-speed data accessibility architectures such as data fabrics in the adoption of big data platforms. Data Fabric has seen significant growth to provide a comprehensive approach to securely and efficiently manage data and future-proof data transactions. This greatly increases business agility and accessibility of data and also underpins the growth of the global market over the next few years.
The Global Data Fabric Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the data fabric market are:
The unique insight provided by this report also includes the following:
Based on the applications, the Business Process Management (BPM) segment accounted for a largest market share in the overall data fabric market size owing to ease in usage and high customization features, followed by the convenience stores
Based on applications, the global data fabric market is segmented into fraud detection and security management, governance, risk and compliance management, customer experience management, sales and marketing management, business process management, and other applications. Amongst all, the business process management segment is accounted to hold the largest market share during the forecast period. Business process management allows organizations to tailor business functions to customer needs and determine how management distributes monitors, and measures company resources. Proper BPM execution can improve efficiency and productivity, reduce costs, minimize errors and risks, and optimize results.
Based on regions, the market for data fabric in North America accounted for the largest share in 2020 owing to presence of high-tech technological infrastructure in the region, followed by the Asia Pacific and Europe
Geographically, the North American region was accounted to hold the largest market share in the year 2020. The dominance of the North American region is expected to continue throughout the forecast period owing to an increase in the need to transform digital data eco-system among companies operating in North American region. Major companies present in the region are heavily investing in new and advanced data fabric portfolios. For instance, in June 2020, Hewlett Packard Enterprise announced HPE Ezmeral. This is a new software portfolio and brand that accelerates data-driven transformation across organizations. It offers a full portfolio including orchestration and management of containers, AI/ML and data analytics, cost management, IT automation, AI-driven operations, and security. This solution can increase organizational agility and efficiency, maximize insight, and enable business transformation.
Moreover, the Asia Pacific region is anticipated to grow at a significant growth rate during the forecast period. The growth is attributed to the increased government initiatives for technological adoption in the region. APAC's major countries that offer significant investment and return opportunities in a technology-driven manner include Australia, China, Japan, India, and South Korea. This is the primary driving force behind the adoption of data fabric software in APAC.
The report also provides an in-depth analysis of data fabric market dynamics such as drivers, restraints opportunities and challenges
Note: Challenges along with in-depth market dynamics analysis are mentioned in the report.
COVID-19 Impact on the Data Fabric Market Analysis
The impact of COVID-19 has greatly affected the market of the data fabric market. The outbreak of the covid-19 pandemic has forced organizations to find ways to work distinctly with ways for a speedy recovery. The pandemic has forced the companies to adopt for ‘work from home’ trends leading to the increased demand for big data and data analytics. According to sensors report 2021, big data and data analytics had a significant contribution towards healthcare sector during the covid outbreak. For instance, in 2020, companies explored AI applications and big data analytics to provide insights for users to plan resource use for speciﬁc challenges in m-health and proposed an m-health model based on AI and big data analytics. Such innovations and big data contribution in the healthcare industry is propelling the global data fabric market in the forecast period.
The report also provides an in-depth analysis of key trends in the data fabric market
|1||The trend of extensive usage of big data and data analytics to analyze the huge data produced throughout the covid-19 outbreak is propelling the market||Positive|
|2||The increasing need for fast data accessibility architecture such as that of data fabric is boosting up the market during forecast period||Positive|
The report also provides an in-depth analysis of recent news developments and investments
Ask for free product review call with the author
Share your specific research requirements for a customized report
Request for due diligence and consumer centric studies
Request for study updates, segment specific and country level reports