The Global Data Virtualization Market size is expected to reach $10 billion by 2028, rising at a market growth of 18.6% CAGR during the forecast period.
Data virtualization refers to the logical data layer, which assimilates the data distributed across the different platforms, supervises the data for security & governance and provides it to business users in the meantime. Data virtualization provides a contemporary method of data integration. It keeps the data in the source system by just presenting the integrated data to the business user, not like the ETL solution, which replicates the data.
Data virtualization extracts the data from the respective source system as business users analyze the report deeply. Irrespective of source location or platform, data virtualization delivers a mutual platform for data consumers to attain huge amounts of data in the manner they choose. The adoption of IoT, improvements in outdated technologies, and digitalization are the reasons for the generation of a huge amount of data from businesses.
Moreover, the devices that are connected to the internet also participate in the generation of huge amounts of data. Applications like the cloud, software as a service, and the internet of things are evolving and participating in the huge amount of data. Data virtualization is a huge term that permits an application to extract and operates data without demanding technical information about data in pursuit of data management.
It is expected that the outbreak of COVID-19 all over the world will support the development of the data virtualization market. The widespread of COVID-19 has made it crucial for enterprises to provide safety information and tackle security issues while implementing operations remotely. Along with this, there is a high demand for a safe and versatile cloud computing environment solution. The data virtualization market has witnessed growth throughout the lockdown in different regions due to the increasing interest in dispersed computing innovation. In order to advance security systems, the medical sectors are showing an inclination toward data center virtualization.
In the last few years, there is the hike in the quantity of data produced through several technologies like the Internet of Thing (IoT) and other data sourced. This huge data consists of both organized and un-organized data. In order to manage large amount of data and produce a well knowledgeable presentation of statistics, organizations are choosing business intelligence software with high-tech technologies like artificial intelligence (AI).
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below 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.
Data management has not always been more important as it is being considered nowadays. This is due to the increased popularity of social media, Web, big data, and cloud technologies that petabytes of information are distributed over the areas, both on-premises and off-premises. Without reasonable visibility and management of corporate data, organizations could not afford risking the revenue and productivity failure.
Data virtualization software demands users to depend on third-party providers to host their servers that will access their data. Unfortunately, depending on third-party providers for solutions with crucial details can raise the threat of data protection violations, which can harm the organization’s integrity. Virtualization can create problems in scaling user's functions as every solution that the company's operations rely upon would require to be available via virtualization cloud computing.
On the basis of component, the data virtualization market is segmented into solution and services. In 2021, the service segment procured a remarkable revenue share in the data virtualization market. It refers to service offered to the businesses with the consideration of the conversion plan. Along with it, the service provides a finish-out facility which allows the enterprises to manage a whole data center operation and related services as an only integrated entity.
Under solution type, the data virtualization market is classified into standalone software, data integration, and application tool solution. In 2021, the standalone software garnered a significant revenue share in the data virtualization market. The software which works without the network connection of the software package is referred as standalone software. When the core program does not need an internet connection in such scenario, standalone software is required.
Based on deployment mode, the data virtualization market is fragmented into on-premise and cloud. In 2021, the on-premise software witnessed the largest revenue share in the data virtualization market. The on-premises software work internally from execution to processing of the solution where updates, protection, and care also take place natively. The company is accountable for the order to keep up the solution and associated procedure with the use of on-premises software.
On the basis of organization size, the data virtualization market is distributed into SMEs and large enterprises. In 2021, the SMEs segment covered a considerable growth rate in the data virtualization market. Due to the amazing perks of using data virtualization like flexibility, enhanced safety & agreement, and less IT management expenditure, there is a rapid demand for data virtualization centers among small & medium-sized enterprises. The data virtualization software is appropriate for all small enterprises, like start-ups or freelancers, and also for large enterprises.
By Vertical, the data virtualization market is classified into IT & telecom, retail, healthcare & life sciences, manufacturing, government & defense, BFSI and education. In 2021, the IT & telecom segment registered the largest revenue share in the data virtualization market. This is due to its assistance to businesses to enhance their artificial intelligence-based IT structure, secure handling charges, and consuming core competency.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 3.1 Billion |
| Market size forecast in 2028 | USD 10 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 18.6% from 2022 to 2028 |
| Number of Pages | 308 |
| Number of Tables | 550 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Deployment Mode, Organization Size, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the data virtualization market is analyzed across North America, Europe, Asia pacific, and LAMEA. In 2021, North America region led the data virtualization market by generating the maximum revenue share. The need for data integration software tools and the advancement of data virtualization solutions will rise in the region with the growth in adoption of cloud-based technologies.
Free Valuable Insights: Global Data Virtualization Market size to reach USD 10 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Cisco Systems, Inc., Salesforce.com, Inc. (Tableau Software, Inc.), Workday, Inc., Alteryx, Inc., Domo, Inc., Ceros, Inc. (ChartBlocks Ltd.), Cluvio GmbH and QlikTech International AB.
By Component
By Deployment Mode
By Organization Size
By Vertical
By Geography
The global Data Virtualization Market size is expected to reach $10 billion by 2028.
Increasing demand for the advanced virtualization technology are driving the market in coming years, however, Security and scalability issues restraints the growth of the market.
Oracle Corporation, IBM Corporation, Cisco Systems, Inc., Salesforce.com, Inc. (Tableau Software, Inc.), Workday, Inc., Alteryx, Inc., Domo, Inc., Ceros, Inc. (ChartBlocks Ltd.), Cluvio GmbH and QlikTech International AB.
The Large Enterprises market is generating high revenue in the Global Data Virtualization Market by Organization Size in 2021; thereby, achieving a market value of $6.6 billion by 2028.
The Solution market is leading the segment in the Global Data Virtualization Market by Component in 2021; thereby, achieving a market value of $6.9 billion by 2028.
The North America market dominated the Global Data Virtualization Market by Region in 2021; thereby, achieving a market value of $3.5 billion by 2028.
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