Data Fabric Market To Reach USD 9,874 Million by 2030, Says P&S Intelligence

NEW YORK, April 17, 2023 /PRNewswire/ -- The size of the data fabric market will grow at a rate of 24.5%, to touch USD 9,874 million by 2030, as stated by P&S Intelligence.

Higher Revenue Generation from Disk-Based Solutions

• The requirement for disk-based solutions is powered by the strong need for storing the huge volume and diversity of data in centralized repositories, for making its management and location easy.
• Hence, with an over 79% share in 2022, the disk-based category led the market. This has been because of the increasing requirement for data management across numerous repositories, along with the lower costs linked with regulatory compliance and data ownership in this fabric type.

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Service Demand Will Grow at a High Rate

• In the years to come, the services category will grow significantly.
• Market participants offer clients various services as because of the requirement for instant connectivity, traditional ways of integrating data cannot gratify the requirements of today's enterprises.
• Solutions had an over 82% share in the past. The increase in the acceptance of such platforms can be credited to the rising requirement for enhancements in the management of business.
• By decreasing the hindrances created by the loss of data and allowing for instantaneous streaming analytics, the architecture supports the agility of business.

North America Makes Most Use of Data Fabric Solutions

The market is dominated by North America, as it adopted this technology before any other region. Furthermore, the U.S. had an over 85% share in the continent in 2022.

Due to the increasing usage of databases in numerous BI tools and the growing incorporation of digital technologies in the telecom & IT, BFSI, healthcare, and manufacturing industries, the demand for these solutions in the nation will rise quickly in the years to come.

Additionally, the U.S. has a fairly strong economy, and there have been substantial investments in digital infrastructure recently. Apart from this, almost all major software and cloud firms are operational in the country.

Browse detailed report on  Data Fabric Market Share, Growth, Development and Demand Forecast to 2030

Dat Fabric Becoming Central to Large Enterprises

• With a revenue share of about 70% in the recent past, the large enterprises category leads the market.
• Larger firms make extensive use of digital information, the volume of which is growing. Moreover, these firms' information often lies in dissimilar sets, which makes its effective integration and management difficult.
• Therefore, there is a necessity for an architecture to make the most of the vast volumes of the data present in data silos, with the emergence of many management technologies, as well as governance, orchestration, pipelining, and data catalogs.

Data Fabric Market Segmentation Coverage in the Report

Data Fabric Market by Component

• Solutions
• Services

Data Fabric Market by Type

• Disk-Based
• In-Memory

Data Fabric Market by Organization Size

• Large Enterprises
• SMEs

Data Fabric Market by Deployment Mode

• On-Premises
• Cloud

Data Fabric Market by Applications

• Fraud Detection & Security Management
• Government, Risk & Compliance Management
• Customer Intelligence
• Sales & Marketing Management
• Business Process Management
• Preventative Maintenance Analysis

Data Fabric Market by Verticals

• BFSI
• Government, Defense & Public Agencies
• Manufacturing
• Healthcare & Life Sciences
• Energy & Mining
• Telecom
• Media & Entertainment
• Retail & eCommerce

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