Data Fabric is an advanced software approach designed for data movement and its management; by providing a customized set of capabilities and services, over a span a choice of endpoints and application ecosystems connected across the cloud and on the premises. Data fabric further simplifies and integrates the overall data management across the cloud and on-premises to accelerate the digital transformation.
According to study, “Data Fabric Market by Deployment (On-premise and Cloud), Type (Disk-based Data Fabric and In-memory Data Fabric), Enterprise Size (Small and Medium Enterprises and Large Enterprises), and Industry Vertical (BFSI, Telecommunications & IT, Retail, Healthcare, Manufacturing, Government, Energy & Utilities, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the data fabric market include Denodo Technologies, Software AG, Hewlett Packard Enterprise Company, Global IDs., IBM Corporation, Oracle Corporation, SAP SE, NetApp, Splunk Inc., and Talend.
Based in type of data fabric, data fabric market is segmented as in-memory data fabric and disk-based data fabric. Based on business application, market is segmented as governance, risk, and compliance management, fraud detection & security management, sales & marketing management, customer experience management, business process management and other applications. Based on deployment model, market is segmented as on-demand deployment and on-premises deployment. Based on enterprise size, market is segmented as small & medium enterprise and large enterprise. The small & medium scale enterprises are further expand to support the rapid market growth owing to large scale spur over the demand for the cloud-based data and on-demand fabric solutions with the time-efficient and cost-effective properties globally. In addition, based on industry vertical, market is segmented as telecommunications & IT, BFSI, retail, healthcare, government, energy & utilities, manufacturing, media & entertainment, and others. BFSI segment dominates the market because of increase in dependence on data generated from IT systems for financial transactions as well as the need for data security.
The data fabric market is driven by rise in need for business agility and accessibility, followed by increase in volume & variety of business data, growth in investment in research & development (R&D) of virtualization technologies and rise in demand for real-time streaming analytics. However, lack of integration with legacy systems and lack of awareness about data fabric may impact the market. Moreover, advancement of in-memory computing and increase in adoption of cloud are key opportunities for market.
Based on geography, the global data fabric market is being led by North-American region followed by European and Asian-Pacific regions. The technological advancements and rise in adoption of data management systems in North-American region is likely to lead the market. The market in Asian-Pacific region is anticipated to grow rapidly due to huge opportunities across industry verticals in APAC countries, especially India, China, and Japan over the forecast period. In upcoming years, it is predicted that future of the market will be optimistic on account of growth in adoption of Internet of Things (IoT) and smart technologies during the forecast period.
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Ankur Gupta, Head Marketing & Communications