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| Data Fabric Market |
The global Data Fabric Market is estimated to be valued at US$ 2.27 Bn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Data Fabric provides a platform for real-time data integration and support applications accessing various data sources through a unified interface. It improves flexibility, accelerates data accessibility, and supports new applications. Data Fabric also simplifies data management operations and helps enterprises make real-time decisions based on integrated data.
Market key trends:
The increased adoption of advanced technologies like big data, artificial
intelligence, machine learning and internet of things has led to an exponential
growth in data generation across industries. However, siloed data remains a key
challenge for enterprises to derive maximum insights. As data gets generated
from different tools and sources, there is a need for a technology that can
integrate these disparate data sets in real-time. Data Fabric provides a single
point of access to all organizational data across cloud and on-premise systems.
It eliminates data silos and enables seamless data sharing across applications
and tools. Enterprises are increasingly adopting data fabric solutions to build
data ecosystems that support innovation, accelerate analytics use cases and
drive better business outcomes.
Segment Analysis
The global data fabric market is dominated by the small and medium sized
enterprise sub segment. These enterprises are rapidly adopting data fabric
solutions to integrate disjointed applications and siloed data sources to get
centralized visibility into their business operations. Data fabric solutions
help SMEs overcome integration challenges and enable faster decision making by
breaking down data silos.
Key Takeaways
The global Data
Fabric Market Share is expected to witness high growth over the
forecast period of 2023 to 2030.
Regional analysis
The North America region currently dominates the global data fabric market with
the highest market share. Rapid technological adoption and growing investments
in big data and analytics technologies by enterprises across industries are
fueling market growth in the region. The Asia Pacific region is expected to be
the fastest growing regional market for data fabric during the forecast period
owing to significant growth being witnessed in countries like China and India
driven by industrialization and digitalization.
Key players
Key players operating in the data fabric market are Merck KGaA, Sanofi,
AlpalifeB Inc, GenScript, Novartis International AG, Taisho Pharmaceutical
Holdings Co., Ltd., Sino Biological, Inc., GeneMedi, Biocytogen, Abnova
Corporation, NanoTag Biotechnologies, Avillion LLP, Capra Science, Numab
Therapeutics, CUSABIO TECHNOLOGY LLC, Proteintech Group, Inc., GT Biopharma,
Inc., Confo Therapeutics, R&D Systems, Inc., Abcepta Biotech Ltd.
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