Data Fabric Market Research Report and Outlook by 2028

The global data fabric market is anticipated to grow significantly, reaching an estimated US$ 2,466.12 million by 2028, up from US$ 1,241.04 million in 2021. This growth represents a compound annual growth rate (CAGR) of 10.3% from 2021 to 2028.

The increasing adoption of cloud-based platforms is a key driver of this market expansion, as these solutions simplify deployment times and reduce associated costs. Additionally, the advancement of internet infrastructure in developed nations, along with its rapid development in various emerging economies, facilitates access to cloud-based platforms for numerous components within these regions. The diverse applications of data fabric are tailored to meet the distinct needs of different end users. Moreover, ongoing technological innovations significantly influence the trend of adoption among both businesses and consumers. For example, many financial institutions leverage financial analytics to derive insights, optimize performance, and make informed decisions. This analytical approach enhances customer experiences and supports effective risk management within the banking sector. The data required for these analytics is sourced from data fabric solutions. Leading analytics technology firms are now creating comprehensive cloud-based suites to improve their digital offerings. The cloud-based data fabric platforms enable organizations to save both time and costs associated with on-site software deployment. A notable example is IBM Corporation's IBM Cloud Pak platform, which supports a distributed, hybrid, and multi-cloud data fabric. The IBM Cloud Pak for data provides timely access to the necessary data across various cloud environments and on-premises setups, ensuring optimal costs and governance levels. Consequently, the rising adoption of cloud technologies across various sectors is expected to propel the growth of the data fabric market throughout the forecast period.

Impact of COVID-19 Pandemic on Data Fabric Market

The COVID-19 pandemic has had a profound impact on businesses worldwide. The surge in virus cases led governments to impose restrictions on the movement of people and goods.

These lockdown measures resulted in decreased production of goods and services. Industries such as manufacturing, automotive, semiconductor and electronics, oil and gas, mining, and aviation experienced significant operational declines due to temporary shutdowns.

In response to the pandemic, businesses have been compelled to explore new strategies for rapid recovery, emphasizing the urgent need for accessible data during crises. Financial institutions have adapted by transitioning to remote sales and service teams, implementing digital outreach to facilitate flexible payment options for loans and mortgages. Grocery retailers have pivoted to online ordering and delivery as their primary business model. Educational institutions in various regions have embraced online learning and digital classrooms. These shifts have led to an increase in both the volume and diversity of business data. As a result, the demand for business agility, data accessibility, and real-time streaming analytics has surged, contributing to the growth of the data fabric market.

The data fabric market is categorized based on deployment into cloud and on-premises segments. In 2020, the cloud segment dominated the market, holding a larger share. The market is also divided by components into software and services, with the software segment capturing a larger market share in 2020. Furthermore, the data fabric market is segmented by solutions, including data discovery, data ingestion, data orchestration, fabric data access, data management, and fabric management, with data management leading in market share in 2020. By end user, the market is segmented into BFSI, IT & telecom, retail, healthcare & pharmaceuticals, and others, where the BFSI segment held the largest market share in 2020. Geographically, the market is divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM), with North America accounting for a significant portion of the global market in 2020.

The overall size of the data fabric market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also provided an overview and forecast of the data fabric market across all segments. Additionally, primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants typically included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the data fabric market.

Several prominent companies operating within the data fabric market include Denodo Technologies, IBM Corporation, Informatica Corporation, K2View, NetApp, Inc., Oracle Corporation, SAP SE, Software AG, Teradata, and Hewlett Packard Enterprise Development LP (HPE).