Press release
Data Fabric Market Growing at 23.8% CAGR to Hit USD 4,546.9 Million | Growth, Share Analysis
Data Fabric Market
Rise in volume & variety of business data, increase in need for business agility & data accessibility, and growing demand for real-time streaming analytics drive the growth of the global data fabric market. On the other hand, a lack of awareness associated with data fabric impedes growth to some extent. Nevertheless, significant data growth in developing regions is expected to create several opportunities for the key players in the industry.
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Data fabric is a converged platform with an architecture and set of data services that provision diverse data management needs to deliver accurate IT service levels across unstructured data sources and infrastructure types. In the digital transformation era, data analytics has become a vital process that allows seamless flow of information and enables new customer touchpoints through technology. Therefore, data fabric has emerged as an innovative opportunity to enhance business agility.
Based on deployment, the on-premise segment contributed to nearly two-thirds of the global data fabric market share in 2018, and is expected to retain its dominance by 2026. High number of data centers boosts the growth of the segment. At the same time, the cloud segment would cite the fastest CAGR of 26.9% during 2019-2026. Rise in adoption of cloud deployments especially in developing countries fuels the growth of the segment.
Based on type, the disk-based data fabric segment held the major share in 2018, generating three-fifths of the global data fabric market. Growing demand for data fabric solutions among data centers and storage enterprises owing to its ability to integrate and operate in unified environment is expected to drive the growth of the segment in the global market. The in-memory data fabric segment, on the other hand, would showcase the fastest CAGR of 26.1% throughout the estimated period. This is attributed to its ability to perform parallel computing.
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Based on geography, North America contributed to more than two-fifths of the global data fabric market revenue in 2018, and is anticipated to maintain the lion's share by 2016. North American countries are expected to adopt data fabric solutions at a high rate due to its compatible infrastructure. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 26.0% during the study period. This is due to due to the presence of high penetration connected devices in the region.
Frontrunners in the industry-
Global IDs.
IBM Corporation
Talend
Denodo Technologies
NetApp
SAP SE
Hewlett Packard Enterprise Company
Software AG
Splunk Inc.
Oracle Corporation
Major players operating in this market have witnessed high growth in demand for cross-platform data management solutions especially due to growing disparate data sources in digital era.
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