Market Research Report
Data Fabric Market by Type (Disk-Based, In-Memory), Business Applications (Fraud Detection and Security Management, Customer Experience Management, Business Process Management, GRC Management), Service, Vertical and Region - Global Forecast to 2026
|Data Fabric Market by Type (Disk-Based, In-Memory), Business Applications (Fraud Detection and Security Management, Customer Experience Management, Business Process Management, GRC Management), Service, Vertical and Region - Global Forecast to 2026|
Published: March 25, 2021
Content info: 213 Pages
Delivery time: 1-2 business days
The global Data fabric market size to grow from USD 1.0 billion in 2020 to USD 4.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 26.3% during the forecast period. Various factors such as increasing volume and variety of business data, emerging need for business agility and accessibility, and growing demand for real-time streaming analytics are expected to drive the adoption of the data fabric software and services.
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. Disparate data stores hamper the efforts of business leaders to make fully informed decisions. Using a modern data architecture approach called data fabric, Ernst & Young (EY) developed Business Resiliency Data Fabric that enables access to data wherever it lives. Data fabric supports rapid technological change while increasing data entropy. To help alleviate the consequences of COVID-19, Denodo launched the Coronavirus Data Portal (CDP), a collaborative initiative that leverages data virtualization to unify critical datasets originally exposed in different formats from multiple sources and countries and make the unified data open to everyone. Using the CDP and the data virtualization capabilities of the Denodo Platform, pmOne created detailed reports and AI analysis, seamlessly orchestrating all the information streams in the pmOne Share Cockpit. The collaboration of Denodo and pmOne provided the global community with trustworthy, up-to-date data about COVID-19 that can be used to develop new intelligence about COVID-19 and reduce its impact. 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 pivoted to 100% online learning and digital classrooms. Doctors have begun delivering telemedicine, aided by more flexible regulation. These approaches have resulted in the rise of volume and variety of business data, the rise in need for business agility and data accessibility, and increasing demand for real-time streaming analytics, contributing to the growth of the data fabric market.
The software segment to have largest market size during the forecast period
The data fabric market has been segmented based on components into software and services. Data fabric makes the movement of data between cloud, storage systems, and data centers smoother, with low latency contributing to the adoption of data fabric software. The services segment, on the other hand, has been bifurcated into consulting services, support and maintenance, and education and training services.
In-memory data fabric segment to have the highest CAGR during the forecast period
Based on type of data fabric, the market has been segmented into disk-based data fabric and in-memory data fabric. The adoption of in-memory data fabric is expected to increase significantly in the coming years, owing to the reduction of costs that arise due to the storage and analysis of huge amounts of data.
Fraud detection and security management segment to account for largest market size during the forecast period
The data fabric market, by business application, comprises fraud detection and security management; governance, risk and compliance management; customer experience management; sales and marketing management; business process management; and other applications including supply chain management, asset management, and workforce management. Data fabric helps in automating the detection of data anomalies automatically and trigger actions to counter them. This not only minimizes losses but also improves regulatory compliance leading to the adoption of data fabric software for fraud detection and security management
Among regions, APAC to account for highest CAGR during the forecast period
North America is expected to hold the largest market size in the global data fabric market. In contrast, APAC is expected to grow at the highest CAGR during the forecast period due to its growing technology adoption rate. The major countries in APAC that are technology-driven and present major opportunities in terms of investments and revenue include Australia, China, Japan, India, and South Korea. This is the major driving factor for the adoption of Data fabric software in APAC.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the Data fabric market.
The report includes the study of key players offering data fabric solutions and services. It profiles major vendors in the global data fabric market. The major vendors in the global data fabric market are include include Denodo Technologies (US), Global IDs (US), IBM Corporation (US), Informatica (US), NetApp (US), Oracle Corporation (US), SAP SE (Germany), Software AG (Germany), Splunk (US), Talend (US), Dell Technologies (US), HP Enterprise (US), Teradata Corporation (US), TIBCO Software (US), Precisely (US), Idera (US), Nexla (US), Stardog (US), Gluent (US), Starburst Data (US), HEXstream (US), QOMPLX (US), CluedIn (Denmark), Iguazio (Israel), and Cinchy (Canada).
The market study covers the data fabric market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components,data fabric types, business applications, deployment mode, organization size, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall data fabric market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.