Data Fabric Global Market Report 2024

Data fabric refers to a set of data services that handle data using a network-based architecture instead of point-to-point connections. It is a powerful architecture, which monitors and manages the data and applications, regardless of location. Data fabric is used for data management, which helps to integrate data from various sources and analyse it seamlessly in one place. It is widely used by organizations to provide a comprehensive view of business and customers across an organization through disparate data sets in real-time and historical, and finally processes automatically in an efficient way.

The main types of data fabric are disk-based data fabric and in-memory data fabric. Secured, managed, and governed data are some of the benefits of a disk-based data fabric. Additionally, it provides data access anytime applications demand it, it also provides the flexibility to transfer data and applications, lowering the cost of ownership and ensuring data compliance. It has components such as software and services that are applied in fraud detection and security management, customer experience management, governance, risk, and compliance management, sales, and marketing management, and business process management. There are various end-users such as banking, financial services, and insurance (BFSI), information technology (IT) and telecom, retail, healthcare and pharmaceuticals, manufacturing, and government.

The data fabric market research report is one of a series of new reports that provides data fabric market statistics, including data fabric industry global market size, regional shares, competitors with a data fabric market share, detailed data fabric market segments, market trends and opportunities, and any further data you may need to thrive in the data fabric industry. This data fabric market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The data fabric market size has grown exponentially in recent years. It will grow from $2.24 billion in 2023 to $2.78 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to real-time data requirements, digital transformation initiatives, data governance and compliance, increasing data volumes, data complexity.

The data fabric market size is expected to see exponential growth in the next few years. It will grow to $6.95 billion in 2028 at a compound annual growth rate (CAGR) of 25.7%. The growth in the forecast period can be attributed to advanced data security measures, graph database integration, augmented data management, exponential data growth in industries, data mesh architecture. Major trends in the forecast period include hybrid and multi-cloud adoption, data integration and interoperability, real-time data processing and analytics, self-service data management, metadata management and cataloging, edge computing integration.

The rising demand for cloud computing is expected to propel the growth of the data fabric market going forward. Cloud computing is a technology that enables the delivery of various computing services over the internet and is used by organizations and individuals to invest in and manage physical hardware and software infrastructure. Cloud computing uses data fabric to maintain data security and compliance by enforcing encryption, access controls, and data auditing across cloud services. For instance, in January 2023, according to Google LLC, a US-based technology company, 76% of people used the public cloud in 2022, an increase of 56% from 2021. Therefore, the rising demand for unstructured data is driving the growth of the data fabric market.

The rising demand for unstructured data is expected to propel the growth of the data fabric market going forward. Unstructured data refers to information that does not have a pre-defined data model or needs to be organized in a pre-defined manner, making it more challenging to analyze and requiring specialized tools and techniques for processing and extracting. Data fabric solutions use unstructured data for real-time data processing, analytics, data aggregation, and data integration. For instance, in August 2022, according to Komprise, a US-based provider of unstructured data management surveys, 87% of IT leaders focused more on unstructured data growth, up from 70% in 2021. Therefore, the rising demand for unstructured data is driving the growth of the data fabric market.

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 physically, announced new features and enhancements to help businesses upgrade 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 companies operating in the data fabric market are launching innovating solutions to increase their profitability in the market. It involves introducing groundbreaking and transformative approaches to seamlessly manage and integrate data across an organization. For instance, in May 2023, Microsoft Corporation, a US-based technology company launched Microsoft Fabric. Microsoft Fabric is built on a foundation of Software as a Service (SaaS) with simplicity and integration. It has the ability to derive value from any form of data, storing all types of structured and unstructured data, and eliminating data silos. Microsoft Fabric addresses every aspect of an organization's analytics needs, empowering every team in the analytics process with the role-specific experiences.

In July 2022, IBM Corporation, a US-based technology company acquired Databand for an undisclosed amount. The acquisition of Databand further extends IBM’s existing data fabric solution and also builds on IBM’s research and development investments as well as strategic acquisitions in AI and automation. Databand is an Israel-based provider of observability platform for data and machine learning pipelines operating in the data fabric market.

Major companies operating in the in the data fabric market report are Denodo Technologies Inc., IBM Corporation, Informatica Software Company Inc., NetApp Inc., Oracle Corporation, SAP SE, Software AG Group, Splunk Inc., Talend S. A., Dell Technologies Inc., Hewlett-Packard Enterprise Company, Teradata Corporation, TIBCO Software Inc., VMware Software Private Limited., K2View LLC., Precisely Holdings LLC., CluedIn ApS., Idera Inc., Nexla Inc., QOMPLX Inc., Starburst Data Inc., Stardog Union Inc., Trifacta Inc., Atlan Pte. Ltd., Cloudera Inc., Hitachi Vantara LLC, MapR Technologies Inc., Rubrik Inc., Nutanix Inc., data. world Inc.

North America was the largest region in the data fabric market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data fabric market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the data fabric market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The data fabric market includes revenues earned by entities by providing services such as augmented data catalog, persistence layer, knowledge graph, insights and recommendations engine. 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 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.


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