Data Fabric Market is expected to reach US$ 2,466.12 million by 2028

Increasing Number of Internet Users Worldwide to Provide Growth Opportunities for Data Fabric Market During 2021–2028

According to our latest market study on “Data Fabric Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment, Component, Solution, and End User,” the market was valued at US$ 1,241.04 million in 2021 and is projected to reach US$ 2,466.12 million by 2028; it is expected to register a CAGR of 10.3% from 2021 to 2028.

The number of internet users is increasing with the growing population. For instance, it has been observed that there are 4.66 million internet users present globally (59% of the global population). From this total, 92.6% (4.32 million) users access the internet through mobile devices. Denmark, Sweden, and the UAE are the few countries with the highest internet penetration rate. Further, till 2020, APAC had the largest number of online users with over 2.5 million and Europe ranked second with almost 728 million internet users. In 2020, China held the largest market share in the world, followed by India and the US. China has more than 854 million internet users and India has around 560 million online users. A few MEA countries, such as Oman, Qatar, and Kuwait, are in the initial phase of digitalization and the internet. The continuous growth of internet users also let the industries transform their business to the digital platform. Additionally, the need for cloud technology has positively impacted businesses because of the storage and data transfer facilities and cost-effectiveness. These factors have influenced the use of data architecture for data management and security reasons. Thus, the growing number of internet users is expected to create lucrative opportunities for the growth of the data fabric market.

The data fabric market has been segmented into deployment, component, solution, end user, and geography. Based on deployment, the market is bifurcated into on-premise and cloud. In 2020, the cloud segment led the data fabric market and accounted for a larger market share. In terms of component, the market is bifurcated into software and services. In 2020, the software segment accounted for a larger market share. Based on solution, the market is segmented into data discovery, data ingestion, data orchestration, fabric data access, data management, and fabric management. In 2020, the data management segment led the data fabric market and accounted for the largest market share. Based on end user, the market is segmented into BFSI, IT and telecom, retail, healthcare and pharmaceuticals, and others. In 2020, the BFSI segment led the data fabric market and accounted for the largest market share. Geographically, the market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

Impact of COVID-19 Pandemic on Data Fabric Market

The COVID-19 pandemic has been affecting most of the business globally. The continuous growth in the number of virus-infected patients compelled governments to put a bar on the transportation of humans and goods. The lockdown imposition has resulted in the lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The COVID-19 pandemic has forced businesses to find new alternatives for speedy recovery and attention to the urgent need to access enough data in crisis times. Further, banks have transitioned to remote sales and service teams and launched digital outreach to customers to make flexible payment arrangements for loans and mortgages. Grocery stores have shifted to online ordering and delivery as their primary business. Schools in many locales have adopted online learning and digital classrooms. These approaches have resulted in the rise of quantity and variety of business data. Thus, growing need for business agility and data accessibility and increasing demand for real-time streaming analytics are among the factors contributing to the growth of the data fabric market.

The key players operating in the global data fabric market are Denodo Technologies; IBM Corporation; Informatica Corporation; K2View; NetApp, Inc.; Oracle Corporation; SAP SE; Software AG; Teradata; and Hewlett Packard Enterprise Development LP (HPE). Major players in the market have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the data fabric industry.

Data fabric Market – by Geography, 2020 and 2028 (%)

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Data Fabric Market to Grow at a CAGR of 10.3% to reach US$ 2,466.12 million from 2021 to 2028

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Data Fabric Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment (On-Premise and Cloud), Component (Software and Services), Solution (Data Discovery, Data Ingestion, Data Orchestration, Fabric Data Access, Data Management, and Fabric Management), and End User (BFSI, IT and Telecom, Retail, Healthcare and Pharmaceuticals, and Others)