July 18, 2024
Data Fabric Market

Data Fabric Market Is Propelled By Growing Adoption In IT Sector

Data fabric is a managed platform that integrates data from multiple sources to provide unified views for various stakeholders. It enables real-time data integration, data management, and effective data analysis. Organizations across various industries are increasingly adopting data fabric to efficiently run data-intensive applications and facilitate rapid data-driven decisions.

The global Data Fabric Market is estimated to be valued at CAGR of 7.5%   in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

The growing adoption of data fabric by IT companies to manage exponentially increasing data volumes is driving the market growth. Data fabric allows IT organizations to aggregate distributed data from varied sources and make them available for analytics and application needs in real-time. It offers advantages like scalability, flexibility, and reduced total cost of ownership. This has increased its adoption in the IT sector significantly.

SWOT Analysis

Strength: The data fabric market has high growth potential due to the increasing adoption of big data analytics tools across various industries. Growing data volume is boosting the demand for efficient data management solutions.
Weakness: Lack of awareness about the benefits of data fabric solutions among small and medium enterprises. Initial set up and integration costs associated with data fabric solutions.
Opportunity: Rising investments in digital transformation activities worldwide provide growth opportunities for vendors in the data fabric market. Increasing adoption of cloud-based applications and services also support market growth.
Threats: Complex deployment and need for skilled professionals to manage the data fabric infrastructure pose threats to market growth. Privacy and security concerns related to sensitive data also threaten the demand for data fabric solutions.

Key Takeaways

The global Data Fabric Market Size is expected to witness high growth at a CAGR of 7.5% during the forecast period.

Regional analysis:
North America holds the largest share of the data fabric market currently due to strong presence of data fabric vendors and growing adoption of advanced data analytics solutions across sectors. Asia Pacific is expected to grow at the fastest pace during the forecast period supported by rising digitalization and increasing investments in cloud computing in countries like China and India.

Key players:
Key players operating in the data fabric market are Nanya PCB (Taiwan), Tripod Technology Corporation (Taiwan), Unimicron Technology Corporation (Taiwan), Ibiden Co., Ltd. (Japan), Compeq Manufacturing Co., Ltd. (Taiwan), TTM Technologies, Inc. (United States), Kingboard Holdings Limited (Hong Kong), Shennan Circuits Company Limited (China), AT&S Austria Technologie & Systemtechnik AG (Austria), Multek (a subsidiary of Flex Ltd.) (United States). These players are focused on developing innovative data fabric solutions to expand their customer base.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it