Chicago, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global Data Mesh Market size is anticipated to grow at a CAGR of 16.4% during the forecast period, from USD 1.2 billion in 2023 to USD 2.5 billion by 2028, according to a new report by MarketsandMarkets™. Due to various business drivers, the data mesh market is expected to grow significantly during the forecast period. The market is experiencing significant growth due to increasing adoption of cloud-native technologies and maintaining robust governance and security. The increasing need for data democratization and accessibility, tailored data pipelines driving agility and innovation is also responsible for driving the market’s growth.
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Data Mesh Market Dynamics:
Drivers:
- Increasing need for data democratization and accessibility
- Growing demand for scalable and decentralized data architectures
- Rising importance of cross-functional collaboration
Restraints:
- Addressing security and compliance conundrums.
- Adoption hurdles due to the complexity of transitioning from traditional monolithic data architectures to decentralized data mesh structures.
Opportunities:
- Unlocking granular control for data governance.
- Facilitate easy adoption, management, and scaling of decentralized data infrastructures
List of Key Players in Data Mesh Market:
- IBM (US)
- AWS (US)
- SAP (Germany)
- Oracle (US)
- Informatica (US)
- K2view (US)
- Talend (US)
- Denodo (US)
- HPE (US)
- NetApp (US)
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Data mesh represents a data management method employing a distributed architectural framework. Put simply, it disperses ownership and accountability for data sets across the organization, assigning them to users equipped with specialized expertise to comprehend the data's significance and leverage it effectively.
Based on the offering, the data mesh market is segmented into solutions and services. The solutions segment is expected to garner a higher revenue during the forecast period. The solutions landscape in the data mesh market is rapidly evolving, driven by the increasing need for scalable, decentralized data architectures. Initially, the focus was on acknowledging the limitations of traditional centralized data models and advocating for domain-oriented, self-serve data capabilities. There's a growing emphasis on comprehensive platforms that offer end-to-end support for data mesh implementation. These solutions now not only enable domain-specific data access but also encompass robust integration, governance, quality assurance, and security measures.
Based on solutions by deployment mode, the segment has been bifurcated in cloud and on-premises. The cloud segment is expected to garner a higher revenue during the forecast period. Cloud technologies have become pivotal in enabling the core principles of data mesh by offering a dynamic infrastructure that supports decentralized, domain-driven architectures. Organizations increasingly leverage cloud-based platforms to facilitate the seamless integration, management, and analysis of data across distributed domains. Providers are enhancing their offerings, focusing on aspects such as data governance, security, and orchestration, aligning closely with the decentralized nature of data mesh. Furthermore, the evolution encompasses the emergence of serverless computing, containerization, and microservices architectures, empowering organizations to build and deploy scalable data mesh solutions efficiently.
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Based on business function, the segment has been bifurcated into sales and marketing, finance and accounting, research and development, HR, operations and supply chain and ITSM. Sales and marketing as a business function are undergoing a transformative shift in the realm of the data mesh market. The integration of data mesh principles into these functions has unlocked unparalleled opportunities for personalized, data-driven strategies. Businesses are leveraging data mesh frameworks to break down silos, enabling seamless access to diverse data sources across the sales and marketing spectrum. This evolution has facilitated hyper-targeted customer insights, empowering personalized marketing campaigns and more effective sales strategies.
The data mesh market has been segmented into five regions: North America, Europe, the Middle East & Africa, the Asia Pacific, and Latin America. North America is estimated to account for the largest market share during the forecast period, while the Asia Pacific region is expected to grow at the highest rate. North America continues to lead in embracing data mesh concepts, particularly in tech hubs like Silicon Valley, owing to a robust ecosystem of tech companies and a culture of innovation. Europe follows suit, with countries like the UK, Germany, and the Nordic region witnessing accelerated adoption due to a focus on data privacy and governance. Additionally, the presence of major tech giants, such as IBM, Oracle, and Informatica, further fuels innovation and investment in the market.
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