Allied Market Report Shows Data Virtualization Market to Witness Exponential Growth by 2031

Asia-Pacific is expected to observe highest growth rate during the forecast period. Increase in investments for Data virtualization solution among countries such as China, Japan, India, Australia, South Korea, and rest of Asia-Pacific fuel growth of the market. Moreover, Asia Pacific is experiencing strong adoption of visualization tools, specifically standalone visualization software. This increasing demand for visualization platforms in the Asia Pacific region is offering lucrative opportunities for software vendors. To leverage these opportunities, several visualization platform vendors are focusing on establishing their presence in the region through merger and acquisitions, company collaborations, and partnerships to extend their customer base. Such developments and investments by the companies are boosting the growth of Asia Pacific market.

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According to the report, the global data virtualization industry generated $3.2 billion in 2021, and is estimated to reach $22.2 billion by 2031, witnessing a CAGR of 21.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Data virtualization is a method enabling systems to amalgamate information from multiple sources, crafting a virtual, cohesive, and unified customer profile. This data can be accessed through user-facing interfaces such as applications, dashboards, and portals, eliminating the need for understanding technical specifics like its physical location or formatting. Recent findings from the National Institute of Standards and Technology (NIST) indicate a notable rise in the adoption of comprehensive virtualization tools and services, attributed to their numerous advantages. Across diverse sectors, organizations, notably in manufacturing, banking, and telecommunications, are increasingly leveraging this solution.

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. However, absence of standards in business data management and high cost and security issues hamper the market growth. On the other hand, increase in demand for cloud-based solutions and increased use of business intelligence software present new opportunities for the market in the coming years.

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Based on components, the solution segment dominated the data virtualization market in 2021, and is expected to maintain the dominance in the upcoming years, owing to restrict and maintain internal cyber threats and risks, such as unauthorized access, data theft, and more. However, the services is expected to witness the highest growth rate during the Data Virtualization Market Forecast period. Data virtualization services mechanisms manage and secure accounts that have system access beyond that of a standard user to secure the confidentiality of data servers.

On the basis end user, the IT and telecom segment dominated the data virtualization market in 2021, and is expected to maintain its dominance in the upcoming years. It is because, it helps the organizations to optimize their artificial intelligence-powered IT infrastructure resource utilization core competency and save operating costs. However, the retail segment is expected to witness the highest growth rate during the forecast period, as to reduce the price of document generation, printing, and dissemination. In addition, a variety of printing and mailroom concerns can be resolved with Data Virtualization Software.

Based on the 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. SMEs have been witnessing a rapid need to shift their focus from an on-premises model to cloud-based data management systems primarily to save a considerable amount of infrastructure and maintenance costs.

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Leading Market Players:

• Adaptive Insights
• Alteryx Inc.
• ChartBlocks ltd.
• Cluvio GmbH
• Domo Inc.
• Tableau Software Inc
• QlikTech International AB
• Oracle Corporation
• IBM
• Cisco Systems, Inc.
• SAP SE
• SAS Institute Inc.
• Microsoft Corporation
• Denodo Technologies Inc.
• Informatica Inc.
• OpenLink Software Inc.

The report analyzes these key players of the global data virtualization market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Covid-19 Scenario:

• The COVID-19 pandemic impacted the data virtualization market positively. This is due to rise 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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