Global Data Fabric Market Overview
Increasing digitalization and industrial automation results in the release of a large volume of data that is further used for analytical purposes. The need for data fabric is emerging on account of the surging unstructured and semi-structured data across various industries and the escalating need for real-time analytics. In 2020, the COVID-19 pandemic across the globe majorly in European countries and the APAC region negatively impacted the data fabric market due to the complete lockdown and curfew in the counties all the nosiness activities went on hold. The temporary lockdown on businesses has slowed the investments in data fabric. However, the investments are set to achieve stable growth by the end of 2021.
The technological advancement in organizations such as from conventional techniques to data management etc. is augmenting the market growth of the data fabric globally. Also, the robust growth in the e-commerce industry and the adoption of data fabric technology in the industries such as banking and financial institutions, Insurance, healthcare telecommunication is adding pace to the market growth of the data fabric. However, the lack of customer awareness about the data fabric is acting as a market hindrance in the industry.
Global Data Fabric Market Outlook
According to MarkNtel Advisors’ research report “Global Data Fabric Market Analysis, 2020”, the market size of data fabric across the globe is forecast to grow at a CAGR of around 25.50% during 2020-25. The market size is soaring on account of the geographical expansion of business networks and the need for data accessibility from any location.
Also, the deployment and adoption of new technology such as IoT, Machine learning, AI and automation across various industries resulting in accumulation of large volume of data release from the sensors, geo-location, machine data, etc., which needs to be organized and set in a presentable manner to be used for the future purpose by gathering historical, real-time data, is contributing to the growth data fabric market across the globe.
North America Hold the Lion’s Share
In 2019, North America grabbed the major market share in the global data fabric market. The market size of North America is increasing on account of technological advancement such as blockchain, data lake across various industries. Moreover, the early adoption of any technology and increasing investment in the R &D for the virtualization technologies are propelling the growth of the market share. Furthermore, the availability and the presence of numerous local and foreign vendors in the region is one of the key factors contributing to the growth in the market size of the global data fabric.
However, the Asia-pacific region is expected to grow at the highest CAGR during 2020-25 on account of the rapid industrialization and the surging trend of big data analytics. Furthermore, the trend of smart homes and smart cities and the industrial IoT integration in the region would drive the market in the forecast period of 2020-25.
Services to Exhibit Rise in Overall Market Share
In 2019, the services segment grabbed the major market share and the same trend is expected in the forecast period too. The growing need for education and training on data fabrics coupled with consultation, support and maintenance would further augment the growth of the data fabric market globally. Furthermore, the growing number of data fabric service provider is also one of the key factors contributing to the growth of the market.
Based on the application, the fraud detection and security management segment captured the major market share in 2019 as it is one of the most challenging and crucial tasks for any organization. The inflow and outflow of the business information can be led to fraud. So, with the help of data fabrics, organizations save the data from any fraud and mishappening by identifying loopholes and anomalies in the data on a real-time basis. Therefore, with the increasing business truncations, the flow of data across the organizations, the demand and market share for fraud detection and security management would increase.
The major application area of data fabrics is BFSI. So, the banking, financial services, and insurance sector grabbed the major market share. The increasing number of e-services by the banking and financial sector resulted in a large volume of data, therefore the demand for data fabrics solution is more in this sector. However, the manufacturing sector is expected to grow at the highest CAGR in the forecast period of 2020-25.
In 2019, the large enterprises grabbed the major market share on account of the early adoption of the technology due to the rise in the demand due to the continuous rise in the data gathered from various sources. Also, the disk-based data fabric type captured the major market share in 2019, owing to the escalating need for data management and integration across various data repositories. Also, the benefits from disk-based data fabrics such as support to the on-premise and cloud environment, hybrid cloud data services for the data access, visibility and control would contribute to the growing market share of the data fabric market. Also, the on-premise deployment grabbed the major market share in 2019. The organizations are moving towards the adoption of digital technology to make data accessible from any location, better visibility that helps in better decision making, as revealed by MarkNtel Advisors’ research report “Global Data Fabric Market Analysis, 2020”.
According to MarkNtel Advisors’, the market of the data fabric across the globe is highly fragmented due to the presence of numerous local and foreign players operating in the market. The companies with a considerable market share in the industry are Denodo Technologies, Global IDS, IBM Corporation, Informatics, NetApp Inc, Oracle Corporation, SAP SE, Software AG, Splunk, Inc., Syncsort, Talend S.A, VMware Inc, HP Enterprise Company, Teradata Corporation, K2View among others. The companies are coming up with new strategies and solutions to gain a competitive market share in the industry. For instance: In 2019, Netapp announced the launch of a new hybrid multi-cloud platform which is based on consumption-based pricing and would provide the data management services across the cloud, flash and disk resources. Also, in the same year, the company launched the new hybrid cloud services which are HCI “Fourth Cloud”.
“Global Data Fabric Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for data fabric solution providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Type (Disk-Based, In-Memory)
2. By Organization Size (Large Enterprise, Small Sized Enterprise, Medium-Sized Enterprise)
3. By Deployment Model (On-Premise On-Demand)
4. By Components (Software, Services)
5. By Business Applications (Fraud Detection and Security Management, Governance, Risk, and Compliance Management, Customer Service Management, Sales and Marketing Management, Business Process Management)
6. By Industry Verticals (Banking, Financial Services, and Insurance, Telecommunication and IT, Retail and E-Commerce, Healthcare and Life Sciences, Manufacturing, Government, Energy and Utilities, Media and Entertainment)
7. By Region (North America, Europe, Asia-Pacific, Middle East, and Africa, South America)
8. By Countries (U.S, Canada, Mexico, Brazil, Argentina, UK, France, Germany, Spain, Italy, UAE, Saudi Arabia, South Africa, China, Japan, India, Australia, South Korea, Others)
9. By Company (Denodo Technologies, Global IDS, IBM Corporation, Informatics, NetApp Inc, Oracle Corporation, SAP SE, Software AG, Splunk, Inc., Syncsort, Talend S.A, VMware Inc, HP Enterprise Company, Teradata Corporation, K2View, Others)
Key questions answered in the study:
1. What are the current and future market trends of the Global Data Fabric industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the region followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Data Fabric industry?
5. What are the customer orientation, purchase behavior, and expectations from the Global Data Fabric firms across various regions?