According to our latest market study on Data Fabric Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Deployment, Component, Solution, and End User, the market was valued at US$ 1,241.04 million in 2021 and is projected to reach US$ 2,466.12 million by 2028; it is expected to register a CAGR of 10.3% from 2021 to 2028.

Growing Demand for Real-Time Analytics

Over the past few years, big data analytics has become a major research interest among practitioners and researchers. Private and public investments in the application of big data analytics have surged up to million dollars worldwide. A swift growth in data volume and its complexity due to the rising traffic of mobile data and cloud-computing and increasing development and adoption of technologies such as artificial intelligence (AI) and internet of things (IoT) propel the demand for big data analytics technologies. These technologies have an enormous potential to transform the businesses completely. Big data platforms effectively analyze the huge structured and unstructured data sets. The BFSI industry is one of the biggest industries that spend a significant amount on big data analytics technology. Potential regions, such as North America and Europe, are highly active in implementing these technologies. Also, the governments of these regions are executing various projects to implement big data into various industries. For instance, the Big Data Europe Project of 2015-2017 received funding from the European Union's Horizon 2020 research and innovation program. The project designed big data application prototypes in several sectors that can offer a huge number of data sets and can progress toward data-driven solution approaches. Therefore, the data is gathered from a data fabric for real-time analytics purposes.

Big data analytics technology is one of the significant drivers in the data fabric market, which helps gain actionable insights from the structured and massive data quantity available in unstructured data from various sources, such as the web and social media. The insight gained from big data analysis helps businesses enhance numerous areas such as customer retention, new markets discovery, optimized customer service, employee retention, and improved customer loyalty. Therefore, the growing demand for real-time analytics helps in the growth of the data fabric market.

Key Findings of Study:

The data fabric market is broadly segmented into five major regions-North America, Europe, APAC (Asia Pacific), the MEA (the Middle East & Africa), and SAM (South America). North America led the global data fabric market in terms of market share in 2020. Based on deployment, the market is bifurcated into on-premise and cloud. In 2020, the cloud segment led the data fabric market and accounted for a larger market share. Based on end user, the market is segmented into BFSI, IT and telecom, retail, healthcare and pharmaceuticals, and others. In 2020, the BFSI segment led the data fabric market and accounted for the largest market share.

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com