Data Fabric Market Size to Surpass USD 9.36 billion by 2030, exhibiting a CAGR of 22.3%

As per the report by Fortune Business Insights, the global Data Fabric Market Size is projected to reach USD 9.36 billion by 2030, at a CAGR of 22.3% during the forecast period.

Pune,India, May 05, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global Data Fabric Market Size was valued at USD 1.90 billion in 2022 and is projected to grow from USD 2.29 billion in 2023 to USD 9.36 billion by 2030, exhibiting a CAGR of 22.3% during the forecast period.

Growing digitization, rising amounts of data, and concerns regarding data security have boosted the need for data management solutions, thereby driving market expansion in the upcoming years. This information is provided by Fortune Business Insights, in its report titled, Data Fabric Market Forecast, 2023-2030.

Key Industry Development-

HPE launched HPE Green Lake for data fabric, a service that united the industry’s initial hybrid analytics with HPE Green Lake software, hardware, and services. This service maintains data with a single outlook to manage and monitor distributed data.

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Key Takeaways-

• Data Fabric Market is expected to flourish & reach USD 9.36 Billion in 2030
• Data that is secure and reliable is crucial for effective corporate operations and positive results.
• The process of generating data has been accelerated by the digital revolution and widespread use of internet platforms.
• Since in-memory databases are quicker than disk-based databases, their market is likely to expand quickly.
• Document Management System Market Size in North America was USD 0.66 Billion 2022

Discover the Leading Players Featured in the Report-

“IBM Corporation (U.S.), Oracle Corporation (U.S.), Hewlett Packard Enterprise Company (U.S.), SAP SE (Germany), NetApp, Inc. (U.S.), TIBCO Software Inc. (U.S.), Talend Inc. (U.S.), Denodo Technologies Inc. (U.S.), Cloudera, Inc. (U.S.), CluedIn (Denmark)”

Report Scope & Segmentation-

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Drivers and Restraints-

Enhanced Data Security through Data Management Solutions to Aid Market Expansion 

Data security is crucial for proper business operations and successful outcomes. Enterprises can improve data security by complying with global regulations regarding safeguarding sensitive data for customers. As per the Consumer Intelligence Series: Trusted Tech Report, 80%-90% of customers across countries, such as the Canada, U.S., China, India, the U.K., and others, are looking for more trusted companies for their data protection. The surging demand from improved data management tools is facilitating market growth. Data fabric is a well-structured architecture offering additional protection against data exploitation and unauthorized access.

On the other hand, lack of visibility when storing data on cloud will hamper market growth in the forthcoming years.

Leading Segments Covered in this Report-

By Deployment

• Cloud
• On-premise

By Type

• Disk-based
• In-memory

By Application

• Fraud Detection and Security Management
• Governance, Risk and Compliance Management
• Customer Experience Management
• Sales and Marketing Management
• Business Process Management
• Others (Supply Chain Management, Asset Management, and Workforce Management)

By Enterprise Type

• Large Enterprise
• Small & Medium Enterprise (SME)

By Industry

• BFSI
• IT and Telecom
• Retail and E-Commerce
• Healthcare and Life Sciences
• Manufacturing
• Government
• Energy and Utilities
• Media and Entertainment
• Education
• Others (Transportation and Logistics, Travel and Hospitality)

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FAQs

How big is the Data Fabric Market?

Data Fabric Market size was USD 1.90 Billion in 2022. It is expected to reach USD 9.36 Billion by 2030.

How fast is the Data Fabric Market growing?

The Data Fabric Market will exhibit a CAGR of 22.3% during the forecast period, 2023-2030

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