The Global Data Virtualization Market size is estimated to reach USD 10.87 billion from USD 2.45 billion in 2019, delivering a CAGR of 20.6% through 2027. The market growth is driven by mounting demand for cost-efficient data management solutions from enterprises to manage database generated from organizations on a day-to-day basis.
In the modern era, database in enterprises comes in different forms and is stored at different locations as well. The data can be both structured or unstructured, including columns and rows in a traditional database and data in formats such as email, social media content, logs, and others. The Big Data in its different forms is stored in log files, databases, SaaS, CRM, and other applications. Managing the database and records otherwise would be difficult if there is no data virtualization, which integrates data from different sources without moving or copying it, giving users a single virtual layer that spans across formats, physical locations, and applications.
Several large and small enterprises are investing in data virtualization technology as it enables easier and faster access to database. It also aids with data mining, further enabling effective analytics, and is extremely important for predictive analytics tools. Growing focus on lowing high-cost involvement of record storage and reducing the risks of errors with effective data management solutions will bolster the global data virtualization market growth through 2027.
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Further key findings from the report suggest:
- Based on application, the standalone software application segment is estimated to account for 15.2% of the market share, showcasing a growth rate of 20.2% through 2027. The robust growth can be attributed to benefits offered by the software such as reduced data set governance complexity and high-performance transaction.
- Mobile web applications is set to register a CAGR of 20.4% through the forecast period. Integration of the technology in mobile and web applications offer quicker and actionable data access, along with the development of backend operations. The rapid proliferation of mobile web applications is generating high demand for faster access to records, supporting segmental growth.
- The Data Analytics BI Tools segment accounted for 23.1% of the data virtualization market share 2018 and is estimated to witness a notable CAGR of 22.2% through 2026. The growing adoption of the virtualization tool for analytics BI Tools applications in organizations to integrate all the sources of information and deliver big data solutions in order to reduce the record warehousing storage will foster market revenue size.
- Based on organization size, the large enterprise segment is expected to get a market share of 21.2% by 2026. These enterprises are extensively leveraging the technology for their business intelligence tools in order to deal with huge amounts of records every day.
- On the basis of end-use, the banking financial sector is likely to account for 22.5% of the market revenue share, delivering a CAGR of 22.1% through 2026.
- In the regional landscape, Europe is estimated to witness significant growth rate of 20.1% through 2027.
- APAC is estimated to register the highest growth rate of 24.5% and generate a revenue of USD 2.78 Billion through 2027 due to the large amount of database sources in the Banking Financial Sectors and expansion of the IT Telecommunication sector in the region.
- North America accounts for 35.4% of the market share, registering a growth rate of 20.3% through 2027 on account of its financial stability and technological advancement.
- Key participants in the market include Oracle Corporation, Denodo Technologies Inc., International Business Machines Corporation, Red Hat Software, Informatica, SAS, Cisco systems, Microsoft Corporation, Capsenta, and SAP SE, among others.
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Segments covered in the report:
Type of Usage Layer Method Outlook (Revenue, USD Billion; 2017-2027)
Organization Size Type Outlook (Revenue, USD Billion; 2017-2027)
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Application of Logistics Outlook (Revenue, USD Billion; 2017-2027)
- Mobile Web Applications
- Cloud-computing Applications
- Standalone Software
- UI UX Development
- Data Analytics BI Tools
- Search Engine Tools
End Users Type Outlook (Revenue, USD Billion; 2017-2027)
- IT Telecommunication
- Healthcare Industries
- Public Sectors
- Banking Financial Sectors
- Media Entertainment
- Retail Ecommerce
- Manufacturing Industries
- Transportation Sectors
- Academics Research
On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
Beneficial Aspects of the Report:
- Global and region forecast of the Data Virtualization market from 2020-2027
- In-depth analysis of market dynamics, industry outlook, market size based on types and applications
- Details of value chain analysis, supply and demand ratio, production and consumption patterns
- SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
- Detailed insights on competitive landscape and emerging market trends
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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