“Global Data Fabric Market to reach a market value of 8.86 Billion by 2031 growing at a CAGR of 20.7%”
The Global Data Fabric Market size is expected to reach $8.86 billion by 2031, rising at a market growth of 20.7% CAGR during the forecast period.
By integrating disparate data sources and enhancing data accessibility, financial institutions can improve customer experience, detect fraud more efficiently, and meet regulatory requirements. The demand for real-time data analytics and the need to streamline data management processes are key factors contributing to the significant share of the BFSI segment. Thus, the BFSI segment attained 26% revenue share in the market in 2023. This sector’s reliance on vast amounts of data for customer insights, risk management, and regulatory compliance drives the adoption of data fabric solutions.
The growing demand for real-time data processing and analytics is a significant driver for the data fabric market. In today’s fast-paced business environment, organizations require immediate access to data insights to make informed decisions and respond quickly to market changes. Hence, real-time data processing and analytics demand is driving the market's growth.
Additionally, the rapid increase in data volume and complexity across enterprises is another major driver for the data fabric market. With the proliferation of IoT devices, social media, enterprise applications, and other data sources, organizations generate vast amounts of structured and unstructured data. Managing and analyzing this data efficiently is becoming increasingly challenging, especially as it is distributed across various platforms, locations, and systems. In conclusion, data's increasing volume and complexity across enterprises drives the market's growth.
However, one of the major barriers to adopting data fabric solutions is the high initial implementation cost, especially for small and medium-sized enterprises (SMEs). While large enterprises can absorb the cost of implementing sophisticated data architectures, SMEs often face budget constraints that make investing in data fabric technologies difficult.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
On the basis of type, the market is segmented into disk-based data fabric and in-memory data fabric. In 2023, the in-memory data fabric segment attained 23% revenue share in the market. The considerable share of managed services is attributed to the increasing demand for ongoing management, maintenance, and support of data fabric solutions.
Based on application, the market is categorized into fraud detection & security management, customer experience management, governance, risk, & compliance management, sales & marketing management, and others. In 2023, the fraud detection & security management segment registered 28% revenue share in the market. The increasing need for robust security measures and advanced fraud detection capabilities across various industries drives this significant share.
By organization size, the market is divided into large enterprises and small & medium enterprises (SMEs). The small & medium enterprises (SMEs) segment procured 34% revenue share in the market in 2023. SMEs increasingly recognize the value of data-driven decision-making and the role of data fabric solutions in achieving this goal.
The services segment is further subdivided into professional services and managed services. The managed services segment acquired 43% revenue share in the market in 2023. The considerable share of managed services is attributed to the increasing demand for ongoing management, maintenance, and support of data fabric solutions.
Based on component, the market is divided into solutions and services. The solutions segment garnered 70% revenue share in the market in 2023. This substantial share is attributed to the increasing demand for integrated data management systems that facilitate seamless data access, processing, and analysis across various platforms.
Based on vertical, the market is divided into BFSI, telecommunications & IT, retail & ecommerce, healthcare, manufacturing, transportation & logistics, media & entertainment, and others. In 2023, the telecommunications & IT segment procured 17% revenue share in the market. Telecommunications and IT companies deal with enormous amounts of data from network operations, customer interactions, and service usage.
Free Valuable Insights: Global Data Fabric Market size to reach USD 8.86 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 31% revenue share in the market. The rapid digital transformation across countries like China, India, Japan, and South Korea contributes significantly to this market share. Businesses in the Asia Pacific are leveraging data fabric solutions to handle large volumes of data generated from diverse sources, aiming to improve decision-making processes and customer experiences.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.0 Billion |
| Market size forecast in 2031 | USD 8.86 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 20.7% from 2024 to 2031 |
| Number of Pages | 377 |
| Tables | 640 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Component, Type, Application, Organization Size, Vertical, Region |
| Country scope |
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| Companies Included | IBM Corporation, SAP SE, Oracle Corporation, NetApp, Inc., TIBCO Software, Inc. (Vista Equity Partners Management, LLC), Informatica Inc., Cloudera, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), Hewlett Packard Enterprise Company and Omron Corporation |
By Component
By Type
By Application
By Organization Size
By Vertical
By Geography
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