New York, July 29, 2019 (GLOBE NEWSWIRE) -- Increasing demand for Data Virtualization in Large Enterprises coupled with high investment in R&D of Data Virtualization is fueling the market growth.
The global data virtualization market is forecast to reach USD 9.07 Billion by 2026, according to a new report by Reports and Data. The Data Virtualization market is rising rapidly in the global market owing to the high proliferation of adoption of data visualization in Data Analytics & BI Tools as it doesn't involve high expanses in data storage unlike data warehousing system and lesser probabilities in risks of data errors.
Academics & Research segment is expected to witness the highest market demand throughout the forecast period. Academics & Research currently is prone to have the highest utilization of the data integration from millions of data sources as the researchers are being inclined towards secondary online sources before proceeding with the core comprehensives. Retail & Ecommerce segments are also likely to be significant contributors to this market.
The market in the Asia Pacific region is forecasted to generate a revenue of USD 2.78 Billion in the year 2026, owing to its extensive market penetration towards Data Virtualization coupled with its rise in consumer base in Banking & Financial Sectors and transcendence in IT & Telecommunication segment in China, Japan, and India.
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Further key findings from the report suggest
- Amongst end users in Data Virtualization market, Banking & Financial Sectors segment is likely to continue being the dominator of the market with almost 22.5% of market possession and would grow with a CAGR of 22.1% by 2026. Banking & Financial Sectors are the core participator of this market, dealing with millions of data sources and data integration tools for their business process.
- Academics & Research is forecasted to achieve the highest CAGR of 25.9% throughout the forecast period. The segment requires plenty of information to be gathered using a variety of data tools which deploy data virtualization software.
- Large Enterprises are incorporating data virtualization for their business intelligence tools owing to dealing with a large amount of data every day. Large Enterprises is expected to get a market share of 21.2% by 2026.
- Data Analytics & BI Tools segment is adopting data visualization to integrate all the sources of information and deliver big data solution by reducing the data warehousing and data storage. The segment had a market share of 23.1% in 2018 and will be growing with a CAGR of 22.2% by 2026.
- Data virtualization has a vital role in UI & UX Development as the users’ information with users experiences are to be executed from numerous data bridges of data virtualization. UI & UX development segment is accounted to get a market share of 7.5% in 2026.
- APAC owing to its massive rise in Retail & Ecommerce consumers, and increase in Banking & Financial Sectors in China, Japan, and India, is expected to grow the highest in the Data Virtualization market with a CAGR of 24.5% by 2026.
- North America, with its financial and technological superiority, is accounted to gain 35.4% of market possession by 2026 with a CAGR of 20.3% during the forecast period.
- Key participants include Oracle Corporation, International Business Machines Corporation, Denodo Technologies Inc., Red Hat Software, Cisco systems, Informatica, SAS, Microsoft Corporation, SAP SE, Capsenta
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global Digital Payment Market on the basis of end users, automation type, components of logistics, logistics model, and region:
Type of Usage Layer Method Outlook (Revenue, USD Billion; 2016-2026)
- Front-end
- Back-end
Organization Size Type Outlook (Revenue, USD Billion; 2016-2026)
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Application of Logistics Outlook (Revenue, USD Billion; 2016-2026)
- Mobile & Web Applications
- Websites
- Cloud-computing Applications
- Standalone Software
- UI & UX Development
- Data Analytics & BI Tools
- Search Engine Tools
End Users Type Outlook (Revenue, USD Billion; 2016-2026)
- IT & Telecommunication
- Healthcare Industries
- Public Sectors
- Banking & Financial Sectors
- Media & Entertainment
- Retail & Ecommerce
- Manufacturing Industries
- Transportation Sectors
- Academics & Research
- Others
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Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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