Global Data Virtualization Software Market Will Reach to USD 8,500 Million by 2026: Facts & Factors

According to a research report published by Facts and Factors, the global data virtualization software market in 2019 was approximately USD 2,200 Million. The market is expected to grow above a CAGR of 22.0% and is anticipated to reach over USD 8,500 Million by 2026.

Data virtualization is the process of combining data from multiple information sources in order to create a single, logical and simulated view of data. Data virtualization is normally used in operations such as data integration, business integration, architecture data services, etc. The primary goal of the data virtualization software is to create a single data reservoir of information from multiple sources without copying or moving the data. Data virtualization is beneficial in reducing the risk of errors. As the data is not copied or moved around in data virtualization software, it reduces the workload on systems which results in improved data accuracy. Advantages of data virtualization are that it gives real time access to the data and reduces the support and development time. However, data virtualization affects the operational response time of the system. Also, using data virtualization means the data has to be interpreted by the user.

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The data virtualization market research report delivers an acute valuation and taxonomy of the data virtualization industry by practically splitting the market on the basis of different types, application, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the data virtualization industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the data virtualization industry is provided for the leading economies of the world.

Top key players operating in the market are Denodo Technologies, SAS Institute, SAP SE, Informatica, International Business Machines Corporation, Information Builders, TIBCO Software, Oracle Corporation, Red Hat, Microsoft Corporation, and Others.

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Data virtualization is any approach to data management that enables an app to access and process data without having any detailed information of the data. Usually, data is extracted, transformed and loaded for processing, however, in data virtualization the data is fixed in a place and then real time access is given to the source for data. This results in reduced risk of errors in data. Data virtualization technology also supports the transaction writing of data back to the source. Data virtualization is a part of data integration which is often used in cloud computing, business analysis, data services, master data management. Data virtualization is often viewed as a replacement for extract, transform, load ("ETL") process.

In recent years, the popularity of cloud based computing has soared due to rising migration of applications to the cloud. This has driven the demand for data integration and data virtualization tools in the market. The rapid adoption of cloud based tools is attributable to the flexibility and ease these cloud based applications offers. Moreover, data virtualization has been opted by large companies who have different data storage systems, which has been another growth driving factor for the market.

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Many large organizations use different types of database management systems, which are not compatible with each other and cannot be integrated with other systems. Hence, organizations face challenges such as regarding data integration and data warehousing of huge amount of stored. Data virtualization has helped organizations to gain real time access to reliable information rapidly, which further helps companies to take major business decisions. This ability of data virtualization software to give real time access to its user has been a key growth driving factor for the global data virtualization software market. Further, cloud computing sector has been rapidly increasing for the last few years due to rapid movement of applications to the cloud, which has driven the demand for data integration. Such trend in the global market has been a key factor that has propelled the global data virtualization software market. Moreover, rising popularity of open source data integration and data virtualization tools is likely to create new avenues for the global data virtualization software market. However, the lack of standardization in cloud computing and data integration is likely to hamper the global data virtualization software market growth. Moreover, as the data virtualization is in its development stage, the lack of technical expertise in the field is likely to be a key restraint in the global data virtualization software market.

Based on region, the North America segment dominated the global data virtualization software market in 2019, accounting for a market share of approximately 40% in 2019. North America data virtualization software market has foreseen a significant growth in the last few years owing to growing cloud adoption and soaring cloud computing sector in the region. Moreover, presence of key data virtualization software vendors in the region has also led to an increased penetration of the data virtualization software among large companies.

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This report segments the data virtualization market as follows:

Global Data Virtualization Market: By Component Segmentation Analysis

Standalone Software
Data Integration Solution
Application Tool Solution

Global Data Virtualization Market: By Deployment Mode Segmentation Analysis

Cloud
On-Premises
Global Data Virtualization Market: By Data Consumer Segmentation Analysis

BI Tools
Enterprise Applications
Mobile and Web Applications

Global Data Virtualization Market: By Enterprise Size Segmentation Analysis

Large Enterprises
SMEs

Global Data Virtualization Market: By End User Segmentation Analysis

Manufacturing
Healthcare
BFSI
Research and academia
Media and entertainment
Retail and ecommerce
Retail and ecommerce
Government and defense
Telecom and IT
Others

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