Data Fabric Market Flourishes Amidst Rising Demand for Unified Data Management 2026

Rise in volume & variety of business data and mounting demand for real-time streaming analytics fuel the growth of the global data fabric market.

PORTLAND, PORTLAND, OR, UNITED STATE, April 30, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global data fabric market was pegged at $812.6 million in 2018 and is estimated to hit $4.54 billion by 2026, registering a CAGR of 23.8% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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.

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Growth in cloud space have compelled services providers to rearchitect its storage platform. The rearchitected storage was opted to meet the demands of the services providers enterprise customers for high capacity, durability, performance, and availability, while still preserving their security posture of data storage and transfer. Data fabric is highly adopted as a rearchitect solution in form of infrastructure-as-a-service (IaaS) platform, owing to its benefits such as flexibility, scalability, replication, and others. This is a major factor that drives the growth of the global data fabric market during the forecast period.

Increase in volume & variety of business data, rise in need for business agility & data accessibility, and mounting demand for real-time streaming analytics fuel the growth of the global data fabric market. On the other hand, dearth of awareness related to data fabric curbs down the growth to certain extent. However, significant data growth in developing regions is anticipated to usher in a plethora of opportunities in the near future.

The cloud segment asserted its dominance in the overall data fabric market in 2018 and is projected to maintain its lead in the forecast period. This is attributed to the growing adoption of cloud deployment worldwide across various industry verticals, offering scalable and on-demand data storage solutions. As data fabric solutions can seamlessly integrate data from diverse sources across different locations, their deployment for cloud data is anticipated to witness a significant upsurge, particularly among cloud service providers, driving market growth.

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The banking, financial services, and insurance (BFSI) sector stands out as a frontrunner in embracing technology to gain a competitive edge. With a heightened emphasis on making informed decisions through heterogeneous data analysis sourced from smartphones, IoT devices, social networks, and transaction systems, BFSI entities are increasingly turning to innovative solutions. This surge in demand for data fabric is fueled by its ability to cater to the requirements of modern analytics, applications, and operational use cases, incorporating data from varied sources such as files, tables, streams, logs, messaging, rich media (like images, audio, and video), and containers.

Furthermore, the retail sector is poised to adopt modern architectural functionalities that enable scalable data analysis, driven by the escalating volume of data silos generated by e-commerce activities. This presents lucrative opportunities for stakeholders operating in the data fabric market landscape.

Some of the major players profiled in the data fabric market analysis include Denodo Technologies, Global IDs., Hewlett Packard Enterprise Company, IBM Corporation, NetApp, Oracle Corporation, SAP SE, Software AG, Splunk Inc., and Talend. 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.

Based on type, the disk-based data fabric segment garnered the highest share in 2018, holding three-fifths of the global market. At the same time, the in-memory data fabric segment portray the fastest CAGR of 26.1% during the study period.

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Based on deployment, the on-premise segment accounted for nearly two-thirds of the total market revenue in 2018, and is anticipated to rule the roost by the end of 2026. Simultaneously, the cloud segment would grow at the fastest CAGR of 26.9% throughout the forecast period.On the basis of deployment, the on-premise segment accounted for nearly two-thirds of the total market revenue in 2018, and is anticipated to rule the roost by the end of 2026. Simultaneously, the cloud segment would grow at the fastest CAGR of 26.9% throughout the forecast period.

North America dominated the data fabric market in 2018, and is projected to remain dominant during the forecast period. Asia-Pacific registered highest CAGR and is further expected to witness significant rise over the forecast period, owing to the growing trend of big data analytics adoption and increase in number of cloud services providers from this region. Among the deployment type, cloud segment dominates the overall market due to high adoption of data fabric solutions for cloud-based data management.

Impact of Covid-19 on Data Fabric Market:

• With the adoption of “work-from-home” approach by organizations operating in the IT and other sectors during the lockdown, the demand for data fabric has been increased significantly.

• Many organizations have undergone digital transformation to ensure business continuity and avail data accessibility from anywhere. This augmented the implementation of data fabric technology.

• The healthcare sector has adopted this technology in a rapid pace to carry out remote monitoring and consultation of patients suffering various conditions as hospital and clinic visits have been restricted to extreme cases only.

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