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Global Data Fabric Market to Reach $3.7 Billion by 2026

Data fabric presents an effective option to exploit data from diverse sources through analysis. Data fabric is witnessing increasing demand from organizations to automate and streamline data analytics process to gain relevant insights and make business-critical decisions. The platform has experienced notable penetration across a broad spectrum of industries such as the banking, financial services and insurance, telecommunication, healthcare and retail & e-commerce. The market is slated to receive a noteworthy push from a number of favorable factors like increasing acceptance of big data and analytics for deriving business decisions. The increasing penetration of connected devices and systems has resulted in a notable spike in the amount and variety of data. The deployment of sensors and video cameras across facilities for gaining location-related and other information is leading to significant data volumes that can be used for deriving business decisions. These trends are creating strong demand for data fabric solutions. Data fabric has emerged as an effective platform to complement analytics frameworks that support data management and integration. The current data landscape is characterized by an exponential surge in data volume, comprising unstructured, semi-structured, and structured data types that are originating from an increasing number of data sources across various multiple locations, including on-premises, data centers, edge, and cloud environments. This is creating a significant demand among businesses to adopt network architectures that can provide them with a holistic view of their disparate data for enabling real-time actionable insights.

Amid the COVID-19 crisis, the global market for Data Fabric estimated at US$1.6 Billion in the year 2022, is projected to reach a revised size of US$3.7 Billion by 2026, growing at a CAGR of 22.2% over the analysis period. Software, one of the segments analyzed in the report, is projected to grow at a 19.5% CAGR to reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 25.4% CAGR for the next 7-year period. This segment currently accounts for a 43.1% share of the global Data Fabric market.

The U.S. Market is Estimated at $521 Million in 2022, While China is Forecast to Reach $403.6 Million by 2026

The Data Fabric market in the U.S. is estimated at US$521 Million in the year 2022. The country currently accounts for a 33.34% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$403.6 Million in the year 2026 trailing a CAGR of 28.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.6% and 20.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 20% CAGR while Rest of European market (as defined in the study) will reach US$499.2 Million by the end of the analysis period. North America is witnessing increasing investments in R&D projects related to virtualization technologies which in turn presents lucrative growth opportunities for data fabric. Growth in the Asia-Pacific region is being fueled by increasing penetration of the Internet of Things coupled with smart technologies. Increasing IT spending across developing countries for maintaining their competitiveness is expected to further drive the market expansion.