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Data Fabric Market: Repository of Analysis and Information for Every Facet of the Market
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Implementation of data fabric solutions in sectors such as retail & e-commerce, health care, telecommunication & banking, and financial services & insurances and the growing need for real-time running analytics are driving factors for the data fabric market. The lack of concern among customers is likely to propel the data fabric market over the next few years. The adoption of software-based technologies is expected to create additional scope for the development of the market over the forecast period. Big Data Fabrics is expected to ease and automate the process of analysis, thereby stemming valuable insights out of the wide volume of data.
The data fabric market is segmented by component into the software and services categories. In terms of usage, the market is segregated into the following groups: business process management, customer experience management, fraud detection & security management, sales & marketing management, governance, risk & compliance management, and others. Data fabric is extensively utilized for fraud detection & security management as a result of which this segment is likely to occupy a significant share in the market at the end of the forecast period.
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The rising acceptance of data fabric implemented for business process management coupled with the need to resolve business-related problems in real time and modernized operations are likely to drive this segment over the forecast period. Based on organizational size, the data fabric market is segmented into the following divisions: large enterprises and small & medium enterprises (SMEs). Small & medium scale enterprises are estimated to register a rapid growth rate owing to the spur in the demand for cloud-based data and on-demand fabric solutions due to their time-efficient and cost-effective properties.
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On the basis of end-use, the data fabric market is divided into the following segments: telecommunication & IT, health care, banking, financial, services & insurance (BFSI), media & entertainment, manufacturing, energy, and others. BFSI held the dominant market share in 2016 and is predicted to retain its position over the forecast period, propelled by the increasing dependence on data generated from IT systems for financial transactions coupled with the need for data security.
Key players in the data fabrics market include international Business Machines Corporation, Hewlett Packard Enterprise, Oracle Corporation, Teradata, NetApp Inc., Software AG, Splunk Corporation, VMware, Inc., Informatica, Denodo Technologies, and Informatica Corporation, among others.
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