LONDON, Aug. 24, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the data fabric market, the rising volumes and variety of organizational data are significantly contributing to the growth of the data fabric market. Data is being collected and stored every second that it is being utilized and sold for analysis. The analysis varies from company to company and their requirements. According to Domo, provider of a fully mobile cloud-based operating system, in 2020, its users spent $1 million online, made around 1.4 million video and voice calls, sent 150,000 messages on Facebook, and watched 404,000 hours of video on Netflix. This data is stored and used for future reference. Moreover, there are 4.5 billion internet users that send and receive data. Therefore, the rising volumes and variety of organizational data are contributing to the growth of the data fabric market.
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The global data fabric market size is expected to grow from $1.46 billion in 2021 to $1.84 billion in 2022 at a compound annual growth rate (CAGR) of 25.8%. The global data fabric market share is expected to grow to $4.47 billion in 2026 at a CAGR of 24.8%.
Technological advancements are shaping the data fabric market. New technologies are launched and products are advanced to provide better and more efficient products to the customers. For instance, in October 2021, NetApp, Inc., a US-based hybrid cloud data services and data management company that offers cloud data services for the management of applications and data both online and offline, announced new features and enhancements to help businesses upgrade their existing IT infrastructure and boost digitalization by delivering new secure ways to consume and operate data services on-premises and in the cloud. These features include enhanced data services, ONTAP data management software enhancements, and more flexible consumption options.
Major players in the data fabric market are Denodo Technologies, IBM Corporation, Informatica, NetApp, Oracle Corporation, Splunk, Talend S.A., Dell Technologies, HP Enterprise, Teradata Corporation, TIBCO Software, VMware, K2View, Syncsort, CluedIn ApS, Idera Inc., Nexla Inc., QOMPLX Inc., Starburst Data Inc., Stardog Union Inc., and Trifacta.
The global data fabric market is segmented by type into disk-based data fabric, in-memory data fabric; by component into software, service; by application into fraud detection and security management, customer experience management, governance, risk, and compliance management, sales and marketing management, business process management; by end user into banking, financial services, and insurance (BFSI), information technology (IT) and telecom, retail, healthcare and pharmaceuticals, manufacturing, government.
North America was the largest region in the data fabric market in 2021. The Asia-Pacific is expected to be the fastest-growing region in the global data fabric market during the forecast period. The regions covered in the global data fabric industry analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Data Fabric Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide data fabric market overviews, data fabric market analyze and forecast market size and growth for the whole market, data fabric market segments and geographies, data fabric market trends, data fabric market drivers, data fabric market restraints, data fabric market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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