DUBLIN--(BUSINESS WIRE)--The "Data Fusion Market by Business Function (IT, Sales and Marketing, Operations, Finance, and HR), Component (Tools and Services), Deployment Model (On-Premises and On-Demand), Organization Size, Industry, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The data fusion market size is expected to grow from USD 7.62 Billion in 2017 to USD 15.92 Billion by 2022, at a CAGR of 15.9% during the forecast period.
The Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to account for the largest share of the data fusion market in 2017. The growth is fueled by the growth in need of people to simplify their workload related to security and increase in dependence on data generated from various IT systems used for financial transactions. The media and entertainment industry vertical is projected to grow at the highest CAGR during the forecast period due to the increase in need to manage data extracted from various sources and other IT systems, such as operations management.
The major business functions, which the data fusion caters to are Information Technology (IT), sales and marketing, finance, operations, and Human Resources (HR). The adoption of data fusion for HR business function is expected to increase significantly in the forthcoming years, owing to the surge in need to resolve HR process-related issues in real time and rise in requirement to streamline operations across industries.
Followed by Europe, North America is expected to continue being the largest revenue generating region for data fusion vendors in the next 5 years. This is mainly because in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) and technology. The APAC region is expected to be the fastest-growing region in the data fusion market, owing to the increase in adoption of Internet of Things (IoT) and smart technologies, and various government initiatives, such as smart cities across APAC countries, including China and India.
The major vendors that offer data fusion tools and services globally are AGT International (Switzerland), Esri (US), LexisNexis (US), Palantir Technologies (US), Thomson Reuters (Canada), InvenSense (US), Clarivate Analytics (US), Cogint (US), Merrick & Company (US), and INRIX (US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions to expand their offerings in the data fusion market.
- Rapid Adoption of Data-Driven Decision-Making
- Introduction of IIoT
- High Investment Costs
- Varying Structure of Regulation Policies
- Higher Adoption of Data Fusions Tools and Services Among SMEs
- The Need to Create Insights From Unused Data
- Managing and Maintaining Data Quality
- Lack of Skilled Workforce
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Data Fusion Market, by Business Function
7 Data Fusion Market, by Component
8 Market By Deployment Model
9 Market By Organization Size
10 Data Fusion Market, by Industry
11 Data Fusion Market, by Region
12 Competitive Landscape
13 Company Profiles
- AGT International
- Clarivate Analytics
- Merrick & Company
- Palantir Technologies
- Thomson Reuters
For more information about this report visit https://www.researchandmarkets.com/research/4vlb23/global_data?w=4.