The Global Data Fabric Market size is estimated to be USD 0.82 billion in 2019 and is predicted to reach USD 3.88 billion by 2030 with a CAGR of 15.6% from 2020-2030.
Data fabric is a single environment that consists of a unified architecture, technologies, or services, running on that architecture, helping organizations manage their data more efficiently. The goal of data fabric is to maximize that value of data in order to accelerate digital transformation. Data fabric connects to any data source through pre-packaged connectors, mitigating the need for coding. Further, data fabric also supports real-time data, and enable data sharing with external and internal stakeholders through API.
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The global data fabric market is marked by intense competition by the major players operating in this space. Tactical mergers & acquisitions, joint ventures & partnerships, technological innovations are some of the key strategies taken up by the major players in order to ensure long term sustenance in this industry. IBM Corporation, NetApp, Inc. Oracle Corporation, SAP SE, Hewlett Packard Enterprise, and VMWare, Inc. are some of the major companies operating in the space of data fabric market.
In January 2020, Oracle was awarded as a leader in The Forrester Wave Enterprise Data Fabric Q2 2020. The company also received the highest score among all vendors in the Strategy category.
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Market Segmentations and Scope of the Study:
The global market for data fabric is segmented on the basis of offerings into solutions and services. Based on deployment, the global data fabric market is segmented into cloud and on-premise. Based on application, the market for data fabric is segmented into customer experience management, fraud detection, governance, risk management, business process management, and sales & marketing among others. Based on organization size, the market for data fabric is segmented into small & medium enterprise and large enterprises. Further, based on end-use industry, the data fabric market is segmented into BFSI, retail, public sector, healthcare, telecom, energy & power, media & entertainment, aerospace & defense and others. Based on type, the data fabric market is segmented into on-disk and in-memory. Moreover, based on region the data fabric has been segmented into North America, Europe, Asia Pacific, and Rest of the World.
North America led the market for data fabric in 2019, and is expected to continue dominating the market in the coming years. The U.S. is the frontrunner in the growth of the data fabric market within the North American region. Widespread adoption of cloud technology in the U.S. is one of the major factors supporting the growth of the data fabric market in the country. The country has a strong IT infrastructure along with financial capacity to build a strong infrastructure that would support digital transformation and the adoption of advanced technologies such as AI and cloud computing. Europe followed North America in terms of market share.
Asia Pacific is expected to display the fastest growth rate during the forecast period, with China, Japan, and India leading the growth of the data fabric market in the region. India is attracting a lot of investments from foreign investors along with the government to boost up the IT infrastructure in the country.
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