Overview and Scope
Data fabric refers to a set of data services that handle data using a network-based architecture instead of point-to-point connections. It is a powerful architecture, which monitors and manages the data and applications, regardless of location. Data fabric is used for data management, which helps to integrate data from various sources and analyse it seamlessly in one place. It is widely used by organizations to provide a comprehensive view of business and customers across an organization through disparate data sets in real-time and historical, and finally processes automatically in an efficient way.
Sizing and Forecast
The data fabric market size has grown exponentially in recent years. It will grow from $2.24 billion in 2023 to $2.78 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to real-time data requirements, digital transformation initiatives, data governance and compliance, increasing data volumes, data complexity..
The data fabric market size is expected to see exponential growth in the next few years. It will grow to $6.95 billion in 2028 at a compound annual growth rate (CAGR) of 25.7%. The growth in the forecast period can be attributed to advanced data security measures, graph database integration, augmented data management, exponential data growth in industries, data mesh architecture.. Major trends in the forecast period include hybrid and multi-cloud adoption, data integration and interoperability, real-time data processing and analytics, self-service data management, metadata management and cataloging, edge computing integration..
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Segmentation & Regional Insights
The data fabric market covered in this report is segmented –
1) By Type: Disk-Based Data Fabric, In-Memory Data Fabric
2) By Component: Software, Service
3) By Application: Fraud Detection And Security Management, Customer Experience Management, Governance, Risk, And Compliance Management, Sales And Marketing Management, Business Process Management
4) By End User: Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecom, Retail, Healthcare And Pharmaceuticals, Manufacturing, Government
North America was the largest region in the data fabric market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data fabric market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for cloud computing is expected to propel the growth of the data fabric market going forward. Cloud computing is a technology that enables the delivery of various computing services over the internet and is used by organizations and individuals to invest in and manage physical hardware and software infrastructure. Cloud computing uses data fabric to maintain data security and compliance by enforcing encryption, access controls, and data auditing across cloud services. For instance, in January 2023, according to Google LLC, a US-based technology company, 76% of people used the public cloud in 2022, an increase of 56% from 2021. Therefore, the rising demand for unstructured data is driving the growth of the data fabric market.
Key Industry Players
Major companies operating in the data fabric market report are Denodo Technologies Inc., IBM Corporation, Informatica Software Company Inc., NetApp Inc., Oracle Corporation, SAP SE, Software AG Group, Splunk Inc., Talend S. A., Dell Technologies Inc., Hewlett-Packard Enterprise Company, Teradata Corporation, TIBCO Software Inc., VMware Software Private Limited., K2View LLC., Precisely Holdings LLC., CluedIn ApS., Idera Inc., Nexla Inc., QOMPLX Inc., Starburst Data Inc., Stardog Union Inc., Trifacta Inc., Atlan Pte. Ltd., Cloudera Inc., Hitachi Vantara LLC, MapR Technologies Inc., Rubrik Inc., Nutanix Inc., data. world Inc.
The data fabric market report table of contents includes:
1. Executive Summary
2. Data Fabric Market Characteristics
3. Data Fabric Market Trends And Strategies
4. Data Fabric Market – Macro Economic Scenario
5. Global Data Fabric Market Size and Growth
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31. Global Data Fabric Market Competitive Benchmarking
32. Global Data Fabric Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Data Fabric Market
34. Data Fabric Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Denodo Technologies Inc.
IBM Corporation
NetApp Inc
Oracle Corporation
SAP SE
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