Bharat Book Bureau Provides the Trending Market Research Report on “Global Data Virtualization Market Forecast to 2022” under Technology & Media. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
Data Virtualization Market is projected to grow at a CAGR of 21.1% during the forecast period
The market for data virtualization is expected to grow from USD 1.58 billion in 2017 to USD 4.12 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period. The generation of large volumes of data is a major factor driving the growth of the data virtualization market. To formulate business strategies, organizations need to access large volumes of data stored at heterogeneous sources to gain business insights and to enhance the decision-making process. To achieve efficiency across business processes, enterprises need to design and layout a plan of action. This can be done by properly implementing data virtualization solutions into its operations.
Lack of standardization in enterprise data management is expected to be a major restraint for the growth of data virtualization market. A predefined set of rules and regulations needs to be considered, while accessing the data. However, emerging economies are witnessing slow digitalization growth. It results in a slow growth rate of the data virtualization market.
Data integration solution component is expected to hold the largest market size during the forecast period
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The component in the data virtualization market includes standalone software, data integration solution, and application tool solution. The data integration solution component helps various organizations to optimize their strategy and operational efforts by providing a unified 360-degree view of data. Moreover, the data integration solutions are beneficial to integrate data from external and internal storage systems of organizations. To meet these requirements, various companies are deploying data virtualization software and solutions to get maximum benefits of the technology.
Asia Pacific (APAC) is expected to witness the highest growth rate during the forecast period
APAC is expected to grow at the highest CAGR in the global data virtualization market during the forecast period. Factors, such as rapid expansion of domestic enterprises, massive growth of data generation from all industries in this region, and higher development of infrastructure, are driving the data virtualization across different end-user segments. The North American region is expected to hold the largest market size during the forecast period. Major driving factors for the market are an increasing need for data virtualization solutions, automation, need to access large volumes of data stored across various systems to get a consolidated view, focus on reducing infrastructure costs, an increasing need to get business insights and real-time availability of data, and growing demand for data integration software tools.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
- By Company Type - Tier 1 – 20%, Tier 2 – 47%, and Tier 3 –33%
- By Designation – C-level – 47%, Director-level – 36%, and Others – 17%
- Data Virtualization By Region – North America – 21%, Europe– 45%, APAC - 27%, and the Rest of the World (RoW)- 7%
Major data virtualization vendors include International Business Machines Corporation (IBM; US), SAP SE (Germany), Informatica (US), Denodo Technologies (US), Oracle Corporation (US), TIBCO Software (US), Microsoft Corporation (US), Red Hat (US), SAS Institute (US), and Information Builders(US).
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