Global Data Fabric Market

Data Fabric Market Size, Share, Growth Analysis, By Type(Data Fabric, Ingestible Data Fabric, Virtualized Data Fabric, and others), By Deployment Model(On-Premises, Cloud-Based, Hybrid), By Application Area(Fraud Detection and Security Management, Customer Experience Management, Business Process Management, GRC (Governance), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45A2166 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 96 | Figures: 76

Data Fabric Market Dynamics

Drivers

Increasing Adoption of Hybrid and Multi-cloud Environments

  • The increasing adoption of hybrid and multi-cloud environments by organizations necessitates advanced data management solutions, with data fabric emerging as a crucial facilitator for seamless integration and accessibility. The demand for real-time analytics and insights is a driving force, prompting businesses to invest in data fabric to ensure efficient data orchestration. Furthermore, the surge in unstructured data, coupled with the need for effective data governance, positions data fabric as an essential solution.

Restraints

High Complexity of Implementing Data Fabric Solutions

  • One of the main market restraints is the complexity of implementing data fabric solutions, particularly in large enterprises with intricate IT ecosystems. The integration of data fabric into existing infrastructure requires careful planning and execution, often leading to challenges in terms of deployment time and resource allocation. Additionally, concerns related to data security and privacy hinder the seamless implementation of data fabric, especially when dealing with sensitive information.
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FAQs

Data Fabric Market size was valued at USD 1.90 billion in 2022 and is poised to grow from USD 2.32 billion in 2023 to USD 11.63 billion by 2031, growing at a CAGR of 22.3% in the forecast period (2024- 2031). 

The competitive environment of the data fabric market is dynamic and characterized by the presence of established industry leaders and emerging players vying for market share. Established players leverage their experience, extensive customer bases, and presence to maintain a stronghold in the market. Simultaneously, innovative startups and niche providers contribute to market diversification by introducing novel solutions and addressing specific industry needs. The competitive dynamics are further fueled by ongoing advancements in data fabric technologies, as well as the increasing demand for comprehensive data management solutions. 'Atlan', 'IBM', 'Oracle', 'Informatica', 'Talend', 'Cloudera', 'TIBCO Software', 'SAP', 'Denodo', 'HPE', 'Dell Technologies', 'NetApp', 'Teradata', 'Splunk', 'Intenda', 'Incorta', 'K2View', 'Cinchy', 'Precisely', 'IDs'

The increasing adoption of hybrid and multi-cloud environments by organizations necessitates advanced data management solutions, with data fabric emerging as a crucial facilitator for seamless integration and accessibility. The demand for real-time analytics and insights is a driving force, prompting businesses to invest in data fabric to ensure efficient data orchestration. Furthermore, the surge in unstructured data, coupled with the need for effective data governance, positions data fabric as an essential solution.

The increasing adoption of edge computing, prompting organizations to leverage data fabric solutions for efficient data management and processing at the edge. The integration of artificial intelligence (AI) and machine learning (ML) capabilities within data fabric platforms is another prominent trend, empowering businesses to derive actionable insights and enhance decision-making. Furthermore, there is a growing emphasis on the convergence of data fabric with data analytics tools, providing organizations with a comprehensive approach to data utilization.

North America is likely to dominate the market, driven by its advanced technological landscape, widespread adoption of data-driven solutions, and the presence of key industry players. The region's mature IT infrastructure and continuous investments in emerging technologies contribute to its dominance in the data fabric market.

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Global Data Fabric Market

Report ID: SQMIG45A2166

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