Large volumes of data generation and an increasing demand for data integration software tools are some of the major driving factors for the Data Virtualization Market. Furthermore, the increasing demand for intelligent business processes and growing innovation across end users are expected to provide growth opportunities for the market.
According to a new market research report "Data Virtualization Market by Component (Standalone Software, Data Integration Solution, Application Tool Solution), Deployment Mode (Cloud and On-Premises), Data Consumer, Enterprise Size, End-User, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the Data Virtualization Market 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.
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The data integration solution segment is expected to be the largest contributor in the global Data Virtualization Market during the forecast period
Large volumes of structured and unstructured data are stored at internal as well as external systems in various industry verticals; a quick access to the data stored at disparate sources has become important to gain better insights for making business-related decisions.
To achieve these benefits, various organizations are deploying data integration solutions to achieve a unified view of data, to enhance the various business processes, and increase revenue.
The Business Intelligence (BI) tools segment is expected to grow at a significant growth rate during the forecast period
The demand for data consumers is growing with the evolution of data virtualization technology. Specifically, BI tools are expected to record at the highest growth rate during the forecast period.
Solutions offered by vendors need to be integrated to avail industry’s best practices for data virtualization solutions. The market for BI tools is expected to grow faster owing to the increasing need for deployment of data virtualization software and solutions either on cloud or on-premises.
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North America is expected to hold the largest market share during the forecast period
North America is the most competitive and rapidly changing Data Virtualization Market in the world. North America, among all the regions, has witnessed maximum adoption of data virtualization software and solutions, due to the increasing demand for BI tools and higher adoption of digital technologies.
The US and Canada are projected to extensively implement data virtualization solutions. Hence, North America is expected to hold the largest market share in the global Data Virtualization Market during the forecast period.
Major vendors in the global Data Virtualization Market 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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