DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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.
The software segment to have the 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 the 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.
Market Dynamics
Drivers
- Increasing Volume and Variety of Business Data
- Emerging Need for Business Agility and Accessibility
- Growing Demand for Real-Time Streaming Analytics
Restraints
- Lack of Awareness About Data Fabric
- Lack of Integration with Legacy Systems
Opportunities
- Generating Positive Return on Investment (Roi)
- Increasing Adoption of Cloud
- Advancement of In-Memory Computing
Challenges
- Disinclination Toward Investment in New Technologies
- Lack of Sufficiently Skilled Workforce
Companies Mentioned
- Cinchy
- Cluedin
- Dell Technologies
- Denodo Technologies
- Global IDS
- Gluent
- Hexstream
- HPE
- IBM
- Idera
- Iguazio
- Informatica
- Netapp, Inc.
- Nexla
- Oracle
- Precisely
- Qomplx
- SAP
- Software Ag
- Splunk, Inc.
- Starburst Data
- Stardog
- Talend
- Teradata
- Tibco Software
For more information about this report visit https://www.researchandmarkets.com/r/tfu1g2
