PUNE, India, May 5, 2017 /PRNewswire/ --
According to a new market research report "Data Fabric Market by Type (Disk-Based, In-Memory), Business Applications (Fraud Detection and Security Management, Customer Experience Management, Business Process Management, GRC Management), Service, Vertical and Region - Global forecast to 2022", published by MarketsandMarkets™, the market is estimated 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%.
Browse 76 market data Tables and 70 Figures spread through 167 Pages and in-depth TOC on "Data Fabric Market"
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The major forces driving the Data Fabric Market are increasing volume and variety of business data, emerging need for business agility and accessibility, and growing demand for real-time streaming analytics. The Data Fabric Market is growing rapidly because of the transformation from traditional data management techniques for storage to advanced techniques and massive surge of flowing structured and unstructured data.
Business process management is expected to grow at the highest CAGR
Data fabric software and services are used for various business application including fraud detection and security management; governance, risk, and compliance management; customer experience management; sales and marketing management; and business process management. Business process management is expected to witness the highest CAGR during the forecast period among all applications because of the growing need to manage and analyze business data in real-time with minimal help from the IT team. These technologies are used for various operations across an organization. Moreover, it also helps with resolving operations related issues in real time and the streamlining of operations across industries.
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Banking, Financial Services, and Insurance (BFSI) is estimated to have the largest market size in 2017
The Data Fabric Market is also segmented by various industry verticals. Out of these industry verticals, the adoption of data fabric is expected to be the largest in the BFSI vertical as the volume and variety of data is increasing day by day with the growing demand of IT systems for financial transactions in banks and other financial services institutes.
North America is expected to dominate the Data Fabric Market during the forecast period
North America is expected to hold the largest share of the Data Fabric Market in 2017 due to the technological advancements and early adoption of data management systems in the region. The market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2022. The primary driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India, China, and Japan.
The report also encompasses different strategies, such as mergers and acquisitions, partnerships and collaborations, and product developments, adopted by major players to increase their share in the market. Some of the major technology vendors include Denodo Technologies (US), Global IDs (US), IBM Corporation (US), Informatica Corporation (US), NetApp (US), Oracle Corporation (US), SAP SE (Germany), Software AG (Germany), Splunk (US), Talend (US), VMware (US), HP Enterprises (US), Teradata Corporation (US), Trifacta (US), Syncsort (US), and K2View (Israel).
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