The report segments the market into various sub segments; hence it covers the market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and sub segments. The market numbers are further split into different application areas and regions.
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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 key players in the Data Virtualization Market 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).
The data virtualization market has been segmented on the basis of components (standalone software, data integration solution, and application tool solution), deployment modes, data consumers, enterprise sizes, end users, and regions. The data virtualization solutions help data virtualization software and platform providers; initial public offering/venture capitalists/angel investors; IT directors and consultants; BFSI, healthcare, retail, manufacturing, and government organizations to improve business operations, enhance decision–making, and reduce costs..
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The deployment modes in the data virtualization market are cloud and on-premises. Data consumers are segmented into Business Intelligence (BI) tools, enterprise applications, and mobile and web applications.
The enterprise size in the data virtualization market are large enterprises and Small and Medium-sized Enterprises (SMEs) the end-users segment includes BFSI, manufacturing, healthcare, retail and eCommerce, research and academia, media and entertainment, telecom and IT, government and defense, and others (transportation and oil and gas). On the basis of regions, the data virtualization market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
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.
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.
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