Data Fabric Market 2021 Key Data Points Mapped for Industry Professionals – IBM Corporation, NetApp, Inc. Oracle Corporation

The Global Data Fabric Market size is estimated to be USD 0.82 billion in 2019 and is predicted to reach USD 3.88 billion by 2030 with a CAGR of 15.6% from 2020-2030.

Data fabric is a single environment that consists of a unified architecture, technologies, or services, running on that architecture, helping organizations manage their data more efficiently. The goal of data fabric is to maximize that value of data in order to accelerate digital transformation. Data fabric connects to any data source through pre-packaged connectors, mitigating the need for coding. Further, data fabric also supports real-time data, and enable data sharing with external and internal stakeholders through API.

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Top Companies: IBM Corporation, NetApp, Inc. Oracle Corporation, SAP SE, Hewlett Packard Enterprise, and VMWare, Inc.

Market Dynamics and Trends

The dynamic nature of the information technology industry has paved the way for digital transformation, and the same is being adopted heavily by organizations across industries. Data has become the lifeline of several organizations, endlessly flowing through to enable newer customer touch points through technology such as artificial intelligence. Further, data fabric also makes way for new business opportunities and optimize business operations.

Growing presence of artificial intelligence and machine learning algorithms are some of the major factors pushing the growth of data fabric market. Artificial intelligence has made its presence in the information technology sector, and is likely to penetrate more in future. Applications of artificial intelligence are practically limitless. Tech-based companies are heavily investing in artificial intelligence, and at the same time, AI based start-ups have managed to attract a lot of funding from investors. In 2019, AI based start-ups across the globe received funding worth USD 29.33 Bn, and the same is expected to go even higher. This is because, the outbreak of COVID-19 has taught several organizations to opt for digital transformation that includes the use of AI. The post COVID era will see a lot of dependence of artificial intelligence, as this outbreak has made some behavioral change and opened up newer ways of doing business without the need of being physically present. Machine learning enabled chatbot is one such example of getting the job done effectively with reduced workforce. Thus, the growth of artificial intelligence and machine learning algorithms is expected to drive the growth of data fabric market in the coming years.

Major challenges of the data fabric market include high capital investment towards newer technologies, and lack of skilled manpower.

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Market Segmentations and Scope of the Study:

The global market for data fabric is segmented on the basis of offerings into solutions and services. Based on deployment, the global data fabric market is segmented into cloud and on-premise. Based on application, the market for data fabric is segmented into customer experience management, fraud detection, governance, risk management, business process management, and sales & marketing among others. Based on organization size, the market for data fabric is segmented into small & medium enterprise and large enterprises. Further, based on end-use industry, the data fabric market is segmented into BFSI, retail, public sector, healthcare, telecom, energy & power, media & entertainment, aerospace & defense and others. Based on type, the data fabric market is segmented into on-disk and in-memory. Moreover, based on region the data fabric has been segmented into North America, Europe, Asia Pacific, and Rest of the World.

Geographical Analysis

North America led the market for data fabric in 2019, and is expected to continue dominating the market in the coming years. The U.S. is the frontrunner in the growth of the data fabric market within the North American region. Widespread adoption of cloud technology in the U.S. is one of the major factors supporting the growth of the data fabric market in the country. The country has a strong IT infrastructure along with financial capacity to build a strong infrastructure that would support digital transformation and the adoption of advanced technologies such as AI and cloud computing. Europe followed North America in terms of market share.

Asia Pacific is expected to display the fastest growth rate during the forecast period, with China, Japan, and India leading the growth of the data fabric market in the region. India is attracting a lot of investments from foreign investors along with the government to boost up the IT infrastructure in the country.

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