[Research Report] The data fabric market is projected to reach US$ 2,466.12 million by 2028 from US$ 1,241.04 million in 2021; it is estimated to register a CAGR of 10.3% during 2021–2028.

Growing internet usage and rising several connected devices, such as smartphones, laptops, tablets, and computers, directly increase the quantity and variety of business data. For instance, cameras and sensors are used for monitoring purposes and gather location data continuously. The increasing need for meaningful insights from the collected data fuels the adoption of data analytics among businesses. For analytics purposes, the data is extracted from the data fabric.

Further, while analyzing, data fabric integrates data from structured, semi-structured, and unstructured data sets. The variety of business data and the quantity of data sets are increasing daily due to the evolution of digitalization across several business organizations. For instance, according to Domo’s Eighth-Annual Data, consumers spend US$ 1 million online, making 1.4 million video and voice calls, sharing 150,000 messages on Facebook and streaming 404,000 hours of videos on Netflix. Thus, the collective data that needs to be managed is in a vast quantity. Therefore, the data fabric is used for data management. Data fabric helps integrate data from various sources, store large amounts of data, and analyze it seamlessly in one place. Therefore, the demand for data fabric is growing for gathering business information.

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Data Fabric Market: Strategic Insights

Data Fabric Market

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  CAGR (2021 - 2028)

  10.3%
• Market Size 2021
  US$ 1.24 Billion
• Market Size 2028
  US$ 2.47 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Denodo Technologies Inc
• Hewlett Packard Enterprise Company
• IBM Corp.
• Informatica Corporation
• K2VIEW
• NetApp, Inc.
• Oracle Corporation
• SAP SE
• Software AG

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Deployment

• On-Premise and Cloud

Component

• Software and Services

Solution

• Data Discovery
• Data Ingestion
• Data Orchestration
• Fabric Data Access
• Data Management
• Fabric Management

End User

• BFSI
• IT and Telecom
• Retail
• Healthcare and Pharmaceuticals
• Others

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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

Data Fabric Market Insights

Growing Demand for Real-Time Analytics

Over the past few years, big data analytics has become a major research interest among practitioners and researchers. Private and public investments in the application of big data analytics have surged up to million dollars worldwide. A swift growth in data volume and complexity due to the rising traffic of mobile data and cloud-computing and increasing development and adoption of technologies, such as artificial intelligence (AI) and the internet of things (IoT), propel the demand for big data analytics technologies. These technologies have an enormous potential to transform the business entirely. Big data platforms effectively analyze the huge structured and unstructured data sets. The BFSI industry is one of the biggest industries that spend a significant amount on big data and analytics technology. Potential regions, such as North America and Europe, are highly active in implementing these technologies. Also, the governments of these regions are executing various projects to implement big data into various industries. For instance, the Big Data Europe Project of 2015–2017 received funding from the European Union's Horizon 2020 research and innovation program. The project designed big data application prototypes in several sectors that can offer a huge number of data sets and can progress toward data-driven solution approaches. Therefore, the data is gathered from a data fabric for real-time analytics purposes.

Big data analytics technology is one of the significant drivers in the data fabric market, which helps gain actionable insights from the structured and massive data quantity available in unstructured data from various sources, such as the web and social media. The insight gained from big data analysis helps businesses enhance numerous areas such as customer retention, new markets discovery, optimized customer service, employee retention, and improved customer loyalty. Therefore, the growing demand for real-time analytics helps in the data fabric market growth.

Deployment-Based Market Insights

Based on deployment, the data fabric market is bifurcated into cloud and on-premises. In 2020, the cloud segment led the market and accounted for a larger market share.

Component-Based Market Insights

Based on component, the data fabric market is bifurcated into software and services. In 2020, the software segment accounted for a larger market share.

Solution-Based Market Insights

Based on solution, the data fabric market is segmented into data discovery, data ingestion, data orchestration, fabric data access, data management, and fabric management. In 2020, the data management segment accounted for a larger market share.

End User-Based Market Insights

Based on end user, the data fabric market is segmented into BFSI, IT & telecom, retail, healthcare and pharmaceuticals, and others. In 2020, the BFSI segment led the data fabric market and accounted for the largest market share.

The players operating in the data fabric market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In March 2021, Denodo Technologies Inc., the industry leader in data virtualization, unveiled Denodo Standard, a new data integration solution accessible on prominent cloud markets. Denodo’s current data virtualization engine is used in the new solution to enable greater performance and productivity, allowing real-time analytics and data services without the need to replicate data into another repository.

• In September 2020, Denodo Technologies Inc. released a new version of its Denodo platform software. The latest version 8.0 is meant to improve performance by accelerating hybrid/multicloud integration and automating data management using artificial intelligence (AI) and machine learning (ML) with smart query acceleration. The platform supports data virtualization into a logical data fabric by providing intelligent suggestions, hyper-performance, and platform-as-a-service (PaaS) support.

Data Fabric Market Report Scope

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The global data fabric market has been segmented as mentioned below:

By Deployment

• Cloud
• On-Premises

By Component

• Software
• Services

By Solution

• Data Discovery
• Data Ingestion
• Data Orchestration
• Fabric Data Access
• Data Management
• Fabric Management

By End User

• BFSI
• IT & Telecom
• Retail
• Healthcare & Pharmaceuticals
• Others

By Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East & Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• Denodo Technologies
• IBM Corporation
• Informatica Corporation
• K2View
• NetApp, Inc.
• Oracle Corporation
• SAP SE
• Software AG
• Teradata
• Hewlett Packard Enterprise Development LP (HPE)