Data Fabric Market to grow to USD 2,125.1 million by 2022
LONDON, May 15, 2017 /PRNewswire/ -- Highlights
• • Increasing volume and variety of structured and unstructured business data is driving the growth.
• • MarketsandMarkets estimates the global data fabric market to grow from USD 653.5 million in 2017 to USD 2,125.1 million by 2022, at a Compound Annual Growth Rate (CAGR) of 26.6%.
• • Fraud detection and security management business application is expected to have the largest market size in 2017
• • Data fabric solutions enable organizations' fraudulent activities by detecting unusual patterns from the data generated through multiple data sources. It provides in-depth insights integrating real time as well as historical data on a single platform.
• • Data fabric solutions have been deployed across various industry verticals, including Banking, Financial Services, and Insurance (BFSI), telecommunication and IT, retail and eCommerce, manufacturing, healthcare and life sciences, energy and utilities, transportation and logistics, media and entertainment, government and defense, and others.
Increasing volume and variety of structured and unstructured business data is driving the growth
MarketsandMarkets estimates the global data fabric market to grow from USD 653.5 million in 2017 to USD 2,125.1 million by 2022, at a Compound Annual Growth Rate (CAGR) of 26.6%. The data fabric market is growing rapidly because of the transition from traditional techniques of data management, such as data warehouse to advanced data management techniques and the massive surge of structured and unstructured business data across industry verticals. Factors such as lack of awareness about data fabric and lack of integration with legacy systems are expected to limit the market growth.
Fraud detection and security management business application is expected to have the largest market size in 2017
Organizations across industry verticals need a data management system that can manage and analyze business data to detect frauds across multiple channels. Data fabric solutions enable organizations fraudulent activities by detecting unusual patterns from the data generated through multiple data sources. It provides in-depth insights integrating real time as well as historical data on a single platform. Hence, fraud detection and security management application is estimated to have the largest market share in 2017 among all business applications.
Manufacturing vertical is expected to have the highest growth rate during the forecast period
Data fabric solutions have been deployed across various industry verticals, including Banking, Financial Services, and Insurance (BFSI), telecommunication and IT, retail and eCommerce, manufacturing, healthcare and life sciences, energy and utilities, transportation and logistics, media and entertainment, government and defense, and others. The manufacturing industry vertical is expected to witness the highest CAGR during the forecast period because of the increasing need for managing real-time data, coming from various data sources, including machines, sensors, and supply chain management systems. Data fabric technology enables the manufacturing organizations to manage proactive maintenance throughout the production cycle. It is likely to result in lower operational costs, increased customer experience, and quality control.
North America is expected to hold the largest market share, APAC projected to grow at the highest rate
North America, followed by Europe, is expected to continue being the largest revenue generating region for the data fabric vendors for the next 5 years. This is mainly due to the presence of various developed economies, such as Canada and the US, and because of the high focus on innovations through Research and Development (R&D) and technology across industry verticals. Asia-Pacific (APAC) is expected to be the fastest growing region in the data fabric market because of the increasing adoption of Internet of Things (IoT) and smart technologies, and government initiatives, such as smart cities in APAC countries, including China and India.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the data fabric marketplace.
- By company type Tier 1- 22%, Tier 2- 30%, Tier 3- 48%
- By designation C-Level 30%, Director Level- 45%. Others- 25%
- By region North America- 48%, Europe-30%, APAC- 22%
Research Coverage:
The global data fabric market has been segmented on the basis of components, services, data fabric types, business applications, deployment types, organization sizes, industry verticals, and regions. The scope of the report is to cover a detailed information regarding the major factors influencing the growth of the data fabric market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, software and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments associated with the data fabric market.
Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market in the following ways:
1. The report segments the global data fabric market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across different verticals and regions.
2. The report helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better position their businesses. There is a separate section on competitive landscape, including competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 15+ players offering services in this market. In this section, market internals are provided that can put them ahead of the competitors.
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