Data Virtualization Market size worth $ 8.39 Billion, Globally, by 2028 at 20.9% CAGR: Verified Market Research®

JERSEY CITY, N.J., Feb. 16, 2022 /PRNewswire/ -- The growing demand for data integration software tools, cost reduction, improving working capital, increasing process efficiency, and reducing the time it takes to develop new products, are some of the factors to lead the Data Virtualization Market.

Verified Market Research recently published a report, "Data Virtualization Market" By Component (Standalone Software, Data Integration Solution, Application Tool Solution), By Data Consumer (BI Tools, Enterprise Applications, Mobile And Web Applications), By End User (Manufacturing, Healthcare, BFSI), and By Geography. According to Verified Market Research, the Global Data Virtualization Market size was valued at USD 1.84 Billion in 2020 and is projected to reach USD 8.39 Billion by 2028, growing at a CAGR of 20.9% from 2021 to 2028.

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Browse in-depth TOC on "Data Virtualization Market"

202 - Pages
126 – Tables
37 – Figures

Global Data Virtualization Market Overview

Data virtualization solutions give a common platform for data consumers to access enormous amounts of data in the format they prefer, independently of the server or source location. Due to several factors such as digitalization, IoT, and advancements in traditional technologies, the amount of data generated in enterprises has increased in recent years. Furthermore, connected gadgets that are connected to the internet are a major contributor to the generation of massive volumes of data. Because the data created by these sources is stored in diverse formats at numerous physical places, getting quick access to it has become a difficult task. Multiple applications, such as the cloud, Software as a Service (SaaS), and the Internet of Things (IoT), are advancing, contributing to the massive volume of data collected. As a result, the requirement to manage and integrate data from several sources has become critical in order to achieve real-time data availability.

Furthermore, data virtualization solutions provide advantages such as better data management, faster time-to-market, and higher data quality. These are some of the key drivers driving the Data Virtualization Market's overall growth. Business strategies are heavily influenced by enterprise-level planning and management. The usage of data in accordance with corporate plans is an important aspect of this planning. Organizations need diverse data kinds, such as customer details, transaction data, and healthcare data, to implement these strategies because this process necessitates the transmission of significant amounts of data from diverse sources, companies must consider various data protection and privacy rules imposed by the country in order to gain access to the information.

Most organizations in the Data Virtualization Market are focusing on cloud-based solutions to lower the infrastructure costs associated with managing massive amounts of data. The benefits of cloud-based data virtualization solutions, such as scalability, agility, lower operational costs, and flexibility, are gaining traction. Denodo and Informatica, for example, have begun to offer solutions to satisfy new business needs, such as real-time data availability, and to assist enterprises with challenging data integration issues.

Key Developments

• October 14, 2020, SAP SE nowadays introduced the world launch of SAP Customer Data Platform, a next-generation patron information platform (CDP) that objectives to enable corporations to redefine the purchaser journey throughout each engagement, from commerce and advertising to income and service.
• December 9, 2021, SAP SE introduced the launch of a new digital startup software targeted at the future of cars at SAP.iO Foundry Bangalore. Five startups have been chosen by using a panel of SAP experts, partners, and clients in India to be part of the cohort.
• March 31, 2021, Denodo Standard, a new data integration solution available on various cloud markets, was unveiled by Denodo, the leader in data virtualization. Denodo's current data virtualization engine is used in the new solution to deliver greater performance and productivity.
• Sep 28, 2021, Oracle released the latest version of Exadata, the platform for operating Oracle databases, on Tuesday. Exadata X9M platforms are more cost-effective and speedier than prior versions.

Key Players

The major players in the market are International Business Machines Corporation (IBM US), SAP SE (Germany), Informatica (US), Denodo Technologies (US), Oracle Corporation (US), TIBCO Software (US), Microsoft Corporation (US), Red Hat (US), SAS Institute (US), and Information Builders (US).

Verified Market Research has segmented the Global Data Virtualization Market On the basis of Component, Data Consumer, End User, and Geography.

• Data Virtualization Market, By Component
• Standalone Software
• Data Integration Solution
• Application Tool Solution
• Data Virtualization Market, By Data Consumer
• BI Tools
• Enterprise Applications
• Mobile And Web Applications
• Data Virtualization Market, By End User
• Manufacturing
• Healthcare
• BFSI
• Telecom And IT
• Others
• Data Virtualization Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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