New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Data Integration Global Market Report 2023" - https://www.reportlinker.com/p06319492/?utm_source=GNW
The global data integration market grew from $12.03 billion in 2022 to $13.36 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The data integration market is expected to grow to $20.58 billion in 2027 at a CAGR of 11.4%.
The data integration market includes revenues earned by entities by providing master data management services, data federation management, data warehousing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The data integration refer to a process of collecting data from multiple sources together to provide users with a unified view used for operational and analytical processes.These data integration sources include multiple data cubes, databases, or flat files.
Data integration aims to help understand what numerous data sources are pointing out.
North America was the largest region in the data integration market in 2022. The regions covered in the data integration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of components in the data integration market are tools, services, professional services and managed services.The data integration software tools are used to combine data into a single or unified view.
The data integration tools perform mapping, transformation, and data cleansing processes.Data integration is mainly deployed through cloud or on-premises in the large enterprises, small enterprises and medium enterprises.
The industry verticals using data integration include BFSI, retail and consumer goods, media and entertainment, manufacturing, energy and utilities, healthcare and life sciences, telecom and it, government and defense, transportation and logistics and travel and hospitality.
The rise in big data technologies is expected to propel the data integration market.Big data technologies are rising due to the need for handling extensive, random, and high-velocity data and enabling decision-makers to limit risks, discover new insights and improve decision-making.
This rise in big data technologies will create a huge demand for data integration as it is an essential part of big data technologies and a crucial step before analyzing big data for insights.The data integration combines data in a simple and unified manner that helps for easy analysis of data during the use of big data technologies.
For instance, according to the data by the MicroStrategy Incorporated, an American company providing business intelligence, mobile software, and cloud-based services, in 2020, 59% of organizations worldwide used big data analytics and nearly 52% of companies globally leveraged advanced and predictive analytics. Therefore, the rise in big data technologies will drive the data integration market.
Technological advancement is a key trend gaining popularity in the data integration market.The market is witnessing the implementation of next-generation technologies into data integration such as data warehousing, data virtualization, artificial intelligence (AI), machine learning (ML), and others.
The advanced data integration tools make the process even more effective, and enable advanced automation, ease of use, and flexible approach while enhancing multiple use cases.Major companies operating in the data integration market are focused on providing technologically advanced data integration solutions and services to strengthen their market position.
For instance, in May 2021, TIBCO Software Inc., a US-based software company launched TIBCO Data Virtualization and TIBCO EBX technologies in its Unify data management portfolio, with groundbreaking advancements. These solutions significantly strengthen an organization’s data fabric, allowing users to realize the immense potential of data. These solutions offer ease of use with no technical knowledge, offer a flexible approach, and enable users to unify, manage and innovate with the data.
In February 2022, Software AG, a Germany-based software company acquired StreamSets for an undisclosed amount.With this acquisition, Software AG will enter into the cloud data integration market segment by cross-selling and building collaborative iPaaS services.
StreamSets is a US-based software development company that offers a modern data integration platform.
The countries covered in the data integration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The data integration market research report is one of a series of new reports that provides data integration market statistics, including data integration industry global market size, regional shares, competitors with an data integration market share, detailed data integration market segments, market trends and opportunities, and any further data you may need to thrive in the data integration industry. This data integration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06319492/?utm_source=GNW
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