New York US, May 03, 2022 (GLOBE NEWSWIRE) -- Data Fabric Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Data Fabric Market” information by Type, by Vertical, by Services, by Application and Region – Forecast to 2027” market size to grow at a compound annual growth rate of 25.90% by 2027.
Market Scope:
Leading organizations are building AI-powered data fabrics on active metadata, especially to disrupt data management. They are also investing hugely in AI governance to improve data management. Also, metadata-driven data fabric is a growing trend fueling the disruption of data management for AI. Data fabric acts on the metadata and applies continuous analytics over existing and discoverable and inference metadata assets.
Data fabric architecture has emerged as an innovative solution to facilitate data exchange in many disparate business systems. Data fabric solutions deliver a unified, intelligent, and integrated end-to-end platform to support new & emerging use cases. The addition of a spate of innovations in the data fabric technology allows a governance platform designed to manage the health (quality) of corporate information.
Dominant Key Players on Data Fabric Market Covered are:
- Informatica (US)
- Splunk Inc. (US)
- SAP SE (Germany)
- Syncsort Inc. (US)
- IBM Corporation (US)
- Denodo (US)
- Global DS (US)
- K2 View (US)
- Oracle Corporation (US)
- Teradata Corporation (US)
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These enhancements allow data professionals to access new integrations to leading cloud intelligence platforms, as well as a self-service API portal and private connections to ensure data security. Resultantly, data fabric technology witnesses vast demand from BFSI, automotive, retail, healthcare, and e-commerce sectors.
The proliferation of data services across hybrid cloud environments is a major factor in increasing the market demand. These data-intensive services with a robust data fabric are at the core of Industry 4.0 initiatives.
Data fabric enables digitization and improves the digital twin, which is imperative for Industry 4.0 to provide data to orchestrate and optimize manufacturing plants. Data fabric solutions support the growth initiatives of any organization, making it easier for enterprises to adopt hybrid cloud deployments and accelerate the initiatives like Industry 4.0.
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Market USP Exclusively Encompassed:
Data Fabric Market Drivers
Organizations are increasingly embracing data fabrics and data mesh to build modern architecture stacks that can democratize data access and management. By treating data, they can build architecture and reuse it in different analytical workloads rather than repeatedly re-inventing data integration pipelines to create the same information for different analytical systems.
Data virtualization has become a key enabler of data mesh architectures, leveraged to produce, consume, and govern data products. For any enterprise data fabric, data virtualization ensures less data copying and data replication, ensuring faster time-to-insights, better adherence to compliance, and stricter data governance. The data fabric concept is really coming up as a new technology trend, providing flexible integration across various data platforms and providing valuable intelligence that businesses need the most.
The growing digital transformations in businesses escalate market demand. Advances in cloud computing provide key capabilities that can help the healthcare industry redesign storage systems and foster tremendous data growth in clinical data. Moreover, the rising awareness of the benefits of digitalized automation in workflow increases the data fabric solution adoption for automation.
Furthermore, the rapid adoption of wearable, mobile, big data, virtual reality, sensors, and robotics accelerate market growth. Also, the vast adoption of cloud-based services and advanced algorithms deployment in BFSI and retail & manufacturing sectors drive the data fabric industry. With the increasing demand for data fabric solutions, the market is projected to experience substantiated growth in the next few years.
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Segmentation of Data Fabric Market Covered in the Research:
The report is segmented into types, applications, services, verticals, and regions. The type segment is sub-segmented into disk-based and in-memory. The application segment is sub-segmented into GRC (governance, risk management, compliance) management, business process management, fraud detection, customer experience management, security management, and others.
The service segment is bifurcated into managed and professional services. The vertical segment is sub-segmented into BFSI, healthcare, automotive, retail & e-commerce, media & entertainment, energy & utilities, and others. The region segment is sub-segmented into Asia Pacific, North America, Europe, and the Rest-of-the-World.
Regional Analysis
North America leads the global data fabric market, mainly due to the strong presence of well-established players and development centers. Besides, increasing R&D investments in developing automation technologies and services drive the regional market growth, allowing the early adoption of digital transformation and advanced technologies. Moreover, the increasing adoption of digital automation across the end-user industries boosts the region’s data fabric market size.
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Competitive Landscape
Highly competitive, the data fabric market appears fragmented, with several well-established players forming a competitive landscape. To support their growth and expansion plans, players adopt strategies such as mergers & acquisitions, collaboration, expansion, and innovations. They strive to deliver reliable, leading-edge products and services, investing substantially in R&D to develop adept technologies and products.
For instance, on April 19, 2022, Privitar, a leader in modern data provisioning, announced a strategic partnership with Denodo, a leading provider of data integration and management software to advance modern data provisioning. With this new partnership, these companies are aligning to advance modern data provisioning and ensure data security at the core of any data mesh and logical data fabric powered by data virtualization.
For an organization, it needs to be both safe and accessible data is important for organizations to be able to maximize their use of data analytics. The partnership would combine Privitar’s domain expertise in data privacy and modern data provisioning with Denodo’s leadership in data virtualization to create a force multiplier effect to enable organizations to take an agile approach to create, managing, governing, and protecting data products by leveraging data for analytics within their organizations and beyond.
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