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Data Integration And Integrity Software Global Market Worth $27.03 Billion By 2028 Rapid Growth Predicted CAGR of 13.5% | SAP SE, SAS Institute Inc., Snowflake Inc., TIBCO Software Inc., Alteryx Inc.
Data Integration And Integrity Software Global Market
The data integration and integrity software market size is expected to see rapid growth in the next few years. It will grow to $27.03 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing adoption of cloud computing, increased focus on data security, the need for digital transformation, increasing demand for real-time insights, and increasing data complexity. Major trends in the forecast period include integration with CRM (Customer relationship management) systems, integration with ERP (Enterprise Resource Planning) systems, strategic collaboration, technological advancements, expansion of data integration marketplaces.
Market Overview -
Data integration and integrity software refers to a suite of tools and solutions designed to facilitate the seamless consolidation of data from various sources while ensuring its accuracy, consistency, and reliability. These solutions enable organizations to streamline data management processes, enhance data quality, and derive actionable insights from integrated datasets.
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Data Security's Impact On The Data Integration And Integrity Software Market
The increasing focus on data securities is expected to propel the growth of the data integration and integrity software market going forward. Data security refers to the measures and protocols implemented to protect digital data from unauthorized access, disclosure, alteration, or destruction. The demand for data security is increasing due to factors such as rising cybercrime rates, poor security adoption rates, and increasing pressure to protect sensitive data from illegal access. The data integration and integrity software helps increase focus on data security by providing comprehensive solutions for managing and protecting data across various systems and platforms, ensuring compliance with regulations, and mitigating the risks of breaches and unauthorized access. For instance, in October 2022, according to McKinsey & Company, a US-based strategy and management consulting firm, organizations around the world spent around $150 billion in 2021 on cybersecurity, growing by 12.4% annually. Therefore, the increasing focus on data securities is driving the growth of the data integration and integrity software market.
Competitive Landscape -
Major companies operating in the data integration and integrity software market are Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, SAS Institute Inc., Palantir Technologies Inc., Informatica Corporation, Snowflake Inc., TIBCO Software Inc., Alteryx Inc., Confluent Inc., Talend SA, SnapLogic Inc., MuleSoft LLC, Domo Inc., Actian Corporation, Fivetran Inc., Matillion Limited, StreamSets Inc., Astera Software Inc., Panoply Ltd., Denodo Technologies Inc., CloverDX a.s., Striim Inc.
Advancements In Data Integration And Integrity Software Market
Major companies operating in the data integration and integrity software market are focusing on advancements in technological solutions, such as intelligent data management clouds, to automate data integration processes and improve data quality. Intelligent management cloud is a cloud-based platform that uses AI (artificial intelligence) to manage data across several clouds and hybrid settings. It provides a complete solution for data integration, governance, master data management, and data quality. For instance, in July 2021, Informatica, a US-based software development company, launched its intelligent data management cloud (IDMC), the industry's first end-to-end AI-powered cloud platform service on Azure, for the Asia Pacific region, strengthening cloud capabilities in the area. The IDMC suite provides a comprehensive approach to data integrity, aligning with the industry's focus on maintaining data accuracy and consistency. Customers and partners can leverage these services to accelerate data integration, transformation, and loading of workloads to Azure Data Services for various cloud data management needs.
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Key Segments -
The data integration and integrity software market covered in this report is segmented -
1) By Component: Tools (Solutions), Services
2) By Deployment Model: On-Premise, Cloud-based
3) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
4) By Industry Vertical: IT and Telecommunication, Banking, Financial Services and Insurance (BFSI), Manufacturing, Healthcare, Retail, Aerospace and Defense, Other Industry Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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