Data Virtualization Market to Grow at a CAGR of 21.7% to Reach USD 22.2 Billion by 2031

Allied Market Research published a new report, titled, "Data Virtualization Market to Grow at a CAGR of 21.7% to Reach USD 22.2 Billion by 2031." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Expanding volume of data from various sources across enterprises, the increase in requirement for data integration tools, the rise in demand for advanced visualization technology and increase in investments in visualization platforms and business collaborations drive the growth of the global data virtualization market drive the growth of the global data virtualization market.

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Based on deployment model, the on premise segment held more than half of the global data virtualization market share in 2021, and is expected to maintain its leadership status during the forecast period. This is due to the need for tightly controlled data security platforms to secure highly confidential or sensitive information. However, the cloud segment is projected to witness the largest CAGR of 23.0% from 2022 to 2031, owing to the rise in adoption of mobile device and the surge in demand for scalable and flexible solutions.

Based on enterprise size, the large enterprises segment contributed to nearly three-fourths of the global data virtualization market in 2021 and is expected to maintain its dominance during the forecast period. Large enterprises across the globe widely adopt data virtualization that enables cloud providers to serve end-users with their existing physical computer hardware. However, the SMEs segment is projected to witness the fastest CAGR of 23.0% from 2022 to 2031.

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Based on region, North America held the largest market share in 2021, capturing more than two-fifths of the global data virtualization industry, and is expected to maintain its dominance by 2031. Due to the rise in competition between cloud-based service providers in North America, key players are providing more data management services by ensuring quick access and greater outreach of their services to their clients.

Some of the key data virtualization industry players profiled in the report include Adaptive Insights, Alteryx Inc., ChartBlocks Ltd., Cisco Systems, Cluvio GmbH, Denodo Technologies, Domo Inc., International Business Machine (IBM), Informatica, Microsoft Corporation, OpenLink Software, Oracle Corporation, QlikTech International AB, SAP SE, SAS Institute, Tableau Software, and Visually Inc..

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Covid-19 Scenario

• The COVID-19 pandemic impacted the data virtualization market positively. This is due to raise in adoption of cloud data virtualization solutions and application container by major enterprises to handle security concerns and provide secured information access when conducting remote operations.

• Growing interest in distributed computing innovation increased the demand for data virtualization during the lockdown.

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