The Data Fabric Market size to grow from USD 1.6 billion in 2022 to USD 6.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 30.9% during the forecast period. The Data Fabric market is expected to grow at a significant rate during the forecast period. Some factors driving the growth of the data fabric market are increasing volume and variety of business data, the emerging need for business agility and accessibility, and the growing demand for real-time streaming analytics.
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Managed Services to witness the higher CAGR during the forecast period
The data fabric services can be segmented into managed services and professional services. Services are required by organizations to bring about effective data fabric implementation strategies that can be handled by third-party companies, and organizations can concentrate on their core businesses. The human resources of the company must also have in-depth knowledge about the benefits that the new service would offer to the company. The knowledge is provided by a specific set of channelized services provided by the service providers. Managed services are an umbrella term for the services provided by a third party, such as monitoring and maintaining computers, networks, and software. These services depend on client experience and can be considered the most significant variable. Organizations need to concentrate on their core business, due to which they cannot afford to concentrate on other related services as it can be distracting and unmanageable. Hence, managed services came into existence. It helps organizations in various ways.
In-memory type segment to register for larger market size during the forecast period
Data fabric came into the picture due to the explosion of a large amount of data generated and stored in data lakes. However, business organizations use data fabric to manage and move data between two repositories. Data fabric can be provided in two ways: disk-based data fabric and in-memory data fabric. In-memory data fabric allows organizations to quickly access the data with its BigMemory feature. In-memory data grid creates an environment by using Random Access Memory (RAM), which can store a huge amount of data required by applications. The data is easily available by allowing quick access to in-memory and can be accessed by many users through numerous applications. It provides various features, including easy processing of high volume of data transactions, resilient web acceleration, micro-services in the distributed pattern, real-time analysis and event processing, and cache as a service.
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Some major players in the Data Fabric market include IBM (US), SAP (Germany), Oracle (US), Informatica (US), Talend (US), Denodo (US), HPE (US), Dell Technologies (US), NetApp (US), Teradata (US), Splunk (US), TIBCO Software (US), Software AG (Germany), Intenda (South Africa), Radiant Logic (US), Incorta (US), Idera (US), K2View (US), Cinchy (Canada), Precisely (US), Global IDs (US), Alex Solutions (Australia), Iguazio (Israel), CluedIn (Denmark), QOMPLX (US), HEXstream (US), Starburst Data (US), Gluent (US), Stardog (US), Nexla (US), and Atlan (Singapore). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global frontline workers training market.
IBM (US) is a multinational technology and consulting corporation that offers infrastructure, hosting, and consulting services. The company operates through five major business segments: cloud and cognitive software, global business services, global technology services, systems, and global financing. IBM’s product portfolio comprises various segments, such as IoT, analytics, security, mobile, social, and Watson. IBM offers IBM Cloud Pak for Data and Palantir for IBM Cloud Pak for Data in the data fabric market. IBM Cloud Pak for Data platform accelerates the AI journey of transforming business operations with an open, extensible data and cloud-native AI platform.
SAP (Germany) is a leading provider of enterprise application solutions and services. It is also leading experience management, analytics, and BI company. Its solutions are compliant with GDPR. SAP enables enterprises to build intelligent AI- and ML-based software to combine human expertise with machine-generated insights. In the data fabric market, SAP offers the SAP Data Intelligence solution. It is a business technology platform that helps to connect, discover, enrich, and orchestrate disjointed data assets into actionable business insights at an enterprise scale.
Informatica (US) is a leading provider of data management solutions provider, is recognized as one of the leading market players for its data integration software and services. It offers various solutions related to data management and big data, such as data quality, data security, data integration, MDM, and associated cloud solutions. Through its data governance segment, the company provides solutions, such as intelligent data quality, data masking, multidomain MDM, data archive, and other cloud-related applications. Informatica has a prominent presence in the Americas, Europe, the Middle East & Africa (EMEA), and Asia Pacific regions. In the data fabric market, Informatica offers an Intelligent Data platform.
Talend is a leader in cloud data integration and caters to various industries, including financial services, government, healthcare, retail, telecommunications, and media. It has 1,300+ employees located in over 15 countries, with 39% in the North American region, 44% in the Europe, Middle East & Africa region, 17% in the Asia Pacific region, and had more than 3,500 enterprise customers. The vast customer base of Talend includes AstraZeneca, HP, Citibank, General Electric, and Lenovo. It has more than 3,000 customers across 60 countries. Talend offers Data Fabric solutions with numerous benefits such as cloud deployment mode, powerful real-time integration and ML, self-service functionality, rapid deployment and agility, and robust governance and management capabilities.
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