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The global data fabric market size was valued at USD 1.90 billion in 2022 and is projected to grow from USD 2.29 billion in 2023 to USD 9.36 billion by 2030, exhibiting a CAGR of 22.3% during the forecast period.
In our scope, we have considered solutions such as Oracle Coherence Queryable, SAP Data Intelligence Cloud, HPE Ezmeral, and IBM Cloud Pak. Data fabric is a complete data management and integration solution that offers a unique user experience and information for every company employee worldwide and in real-time. Its robust architecture regulates feasibilities across the cloud, on-premises, data management practices, and edge devices. The quick shift of companies to the cloud and its diverse data sources will propel the market growth. For instance,
Surge in Digital Transformation Amid COVID-19 to Boost Market Growth
The COVID-19 pandemic has severely impacted industries across nations. Industries such as manufacturing, banking, financial services and insurance (BFSI), healthcare, retail, and education faced critical challenges due to the disruption in production plants, supply chain, limitations on in-house staff capacity, and delayed customer service. Thus, there is a dramatic shift toward remote working solutions and digital transformation amid the pandemic.
The massive shift to digitalization created volatile and new data sources. This created havoc for enterprises in managing the vast amount of data. For instance, in 2020, as students worldwide shifted to online learning tools, Blackboard Inc. witnessed an overnight explosion in daily log volumes. Thus, many companies included data management architecture in their workflow system to manage the exponential data growth during the COVID-19 outbreak. Therefore, businesses globally started implementing the solutions rapidly to accelerate digital transformation. For instance,
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Enhanced Data Security Through Data Management Solutions to Aid Market Expansion
Secured and robust data is essential for proper business operations and successful outcomes. Businesses can achieve secure data by complying with global regulations safeguarding sensitive data for clients or customers. According to the Consumer Intelligence Series: Trusted Tech Report, 80%-90% of customers across countries, such as the U.S., Canada, China, India, the U.K., and others, are looking for more trusted companies for their data protection. Thus, it has become indispensable for organizations across the globe to adopt more secure data management tools. Data fabric is a well-structured architecture offering additional protection against unauthorized access and data exploitation. Its ecosystem provides reliable data management by offering a secure-by-design framework.
Moreover, implementing machine learning and artificial intelligence solutions in the architecture enhances its operational capabilities. In December 2021, identity unification organization Radiant Logic launched RadiantOne Intelligent Identity Data Platform as the Identity Data Fabric to strengthen security and compliance abilities. Thus, different data security features with the solution will boost the data fabric market share.
Integration of AI/ML in Data Integration Tools to Surge the Demand for Architecture
The digital transformation and adoption of online platforms have fueled the data generation process. The enterprises store the data and its derived insights across different distributed sources. As a result, data management providers face various challenges in providing quick access to the data across these distributed landscapes. A higher distribution level and variety of business data assets create complexity in data management and integration.
As per the Data and Analytics Adoption Trends Study 2018, organizations planned to automate 49% of data integration and 37% of data preparation tools by 2020. Therefore, the data and analytics industries invest in advanced technologies to support data management strategies. This has resulted in the rise in demand for adopting artificial intelligence or machine learning-based architectures. The new tools and techniques help in enabling complex data use cases. Its ability to accelerate data and analytics design and offer transparent decision flow drives its demand for business survival.
Further, the ML/AI-powered solutions provide quick access to data to aid companies in targeting potential customers and planning new marketing strategies. It offers 360-degree acute insights concerning customer and supplier ends that help recover sales rates. For instance, in June 2021, IBM Corporation launched IBM Cloud Pak for Data 4.0, using AI lifecycle automation and data to deliver intelligent data management solutions.
Lack of Control over Data to Hinder Market Growth
Data is an essential part of data-driven industries catering to various applications. The architecture directly connects data with the functional areas of businesses, such as human resources, finance, sales, operations, and more. However, these connections do not retain the historical data transaction. This transaction is potentially valuable for data scientists, business analysts, machine learning engineers, and other users. Its architecture lacks the unit for incorporating this data.
Similarly, lack of visibility to store data on the cloud limits the control over the data directly. The lack of visibility will likely impact the protection and governance of the stored data, hampering the market growth.
Improved Scalability and Flexibility to Fuel Cloud Demand
In terms of deployment, the market is categorized into cloud and on-premise. Cloud segment is expected to dominate the market in 2022 as it offers the efficiency, choice, and flexibility that enterprises need. Companies are scaling up their artificial intelligence and advanced analytics projects on the cloud, aiding them to make better data-driven decisions in progressively competitive markets.
On-premise deployment could capture less market share than cloud as it includes large upfront capital costs and functional and support costs. Besides, as the software must be installed on individual computers and servers, on-premise deployment is more time consuming.
Disk-based Segment to Lead Due to Lower Cost of Ownership
As per type, the market is segmented into disk-based and in-memory.
Disk-based segment is likely to capture maximum market share owing to less cost of ownership and data compliance and the ever-increasing need for data integration and management across various data repositories.
In-memory segment is likely to grow rapidly as it is quicker than disk-based databases. As in-memory databases utilize hardware memory for data storage, it requires less time when probing the data. It can be used in the cloud and on commodity on-premise hardware ecosystems. This is expected to surge the demand for in-memory databases.
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Growing Demand for Automation to Aid the Business Process Management Segment Growth
According to application, the market is categorized into fraud detection and security management, governance, risk and compliance management, customer experience management, sales and marketing management, business process management, and others.
Business process management assists businesses in overseeing their data to maximize its value of data. It is expected to hold the highest share in 2022 as companies use the solution to automate and optimize data management processes in less time and at minimum cost.
Data management tool is majorly used for business process management, and its use for fraud detection and security management is predicted to upsurge in the coming years.
Security management is a major challenge for businesses; thus, the demand for the software for fraud detection is expected to hold the highest CAGR during the forecast period. It also helps in improving regulatory compliance while reducing losses. In sales and marketing management, it helps extract data from various endpoints and offers insights to develop new strategies. Customer experience management is the most important data; therefore, the right technology is required to break down data silos. Data management techniques let companies share data among employees and partners in real time.
Growing Adoption of Complex Technologies in Large Enterprises to Boost Market Growth
By enterprise type, the market is categorized into large enterprise and small & medium enterprise. Large enterprise segment is slated to lead during the forecast period. Large enterprises are implementing the data fabric technology to manage ongoing complex, disparate environments and new microservice-based and existing applications.
Similarly, small businesses have adopted the architecture to easily extract, transform, integrate, govern, and analyze cloud and on-premises data from multiple sources to deliver advanced data analytics. This is expected to boost the data fabric market growth.
Growing Customer Data in BFSI to Boost Data Management Solution Demand
By industry, the market is segregated into BFSI, IT and telecom, retail and e-commerce, healthcare and life sciences, manufacturing, government, energy and utilities, media and entertainment, education, and others.
In the BFSI segment, the need for targeted insights, better user experiences, and better access to analytic capabilities drawn from different sources across the entire enterprise is bringing the tools into focus. Similarly, generating a huge volume of data daily in healthcare and life sciences organizations is expected to fuel market growth.
The retail industry is transitioning; thus, the digital or e-commerce marketplace is gaining prominence. To cope with this digital transformation, retail businesses deploy data management solutions to enable a comprehensive data and storage management strategy. The rapid adoption of digital technology across government sectors is poised to boost the market growth. Similarly, the fast-growing, data-driven IT and telecommunication industry will boost the market outlook.
North America Data Fabric Market Size, 2022 (USD billion)
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The global market is classified across five regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Among these, North America dominates the market due to the presence of many data management solution providers in the U.S. Also, the region is considered one of the early adopters of advanced technologies. In the U.S., the increase in data collection from unstructured sources and the presence of most data centers are the major driving factors for the market.
Asia Pacific is anticipated to be the fastest-growing region during the forecast period. A growing number of data centers and a rapid shift toward digitization might propel the adoption of the solution in Asia Pacific. China is the second leading country globally, the first being the U.S. in data center adoption. As per the analysis, the Big Data industry in China is predicted to continue to depict steady expansion in the coming years.
In Europe, Big Data technologies are growing astonishingly, creating a space for adopting data management tools. The increasing use of electronic devices and networks advances information and communication technologies, and the digitalization of production processes generates data daily through social and economic activities. The U.K., Germany, France, Russia, Nordics, and Italy are among the major countries in Europe.
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Growing product demand in the Middle East & Africa is due to the adoption of cloud and Internet of Things (IoT), upcoming mobile business intelligence, and domain-specific solutions. Similarly, the rapid adoption of analytical solutions by businesses of all sizes, a major focus on automation and fraud prevention across sectors, and growing demand for Software-as-a-Service (SaaS) are some of the factors fueling South America's growth market.
Strategic Acquisitions and Collaborations to Boost Market Expansion
Key players invest in innovative data fabric solutions across all business segments. Major companies operating in the market extend the scope of underlying data to upgrade their tools and technology and create novel solutions.
An Infographic Representation of Data Fabric Market
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The research report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest market trends and analyzes technologies deployed at a rapid pace at the global level. It further highlights some growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.
Value (USD billion)
CAGR of 22.3% from 2023 to 2030
By Deployment, Type, Application, Enterprise Type, Industry, and Region
By Enterprise Type
The market is projected to reach USD 9.36 billion by 2030.
In 2022, the market size stood at USD 1.90 billion.
The market is projected to grow at a CAGR of 22.3% over the forecast period.
Business process management is likely to lead the market.
Continuous acceleration of cloud adoption to drive the market growth.
IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, SAP SE, NetApp, Inc., and TIBCO Software Inc. are the top players in the market.
North America is expected to hold the highest market share.
Asia Pacific is expected to grow with a remarkable CAGR.
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