Data Virtualization Market Highlights:
Data virtualization finds crucial application in the latest data architecture. It facilitates the formation of a single data layer by sourcing and procuring data from different sources. It is a new technology and is expected to gain quick mileage over the next couple of years. Market Research Future (MRFR)’s study states that the global data virtualization market is poised to expand at 15% CAGR over the forecast period 2017 to 2023. It is also highlighted in the study that the market is likely to earn revenues worth USD 278 Bn by the end of the evaluation period.
Data virtualization can be acknowledged as an advanced and advanced user-friendly version of data federation, which is enabling various functions to perform, such as data extraction, data transform, and data load in a very efficient way. These have been termed as the key factors that are influencing the market to expand at a rapid pace.
In the latest, the telecom and financial sectors have also been crucial contributors to the market as these sectors are the most significant users of Data Virtualization Market. Yet, on the same parameter, healthcare and insurance industries will be among the top users of the technology, thus, thriving the global market to expand more. These factors are highly influential to the global market of data virtualization market and will continue to be the same in the coming years as well as during the assessment period.
On the other hand, academics & research segment is also likely to observe the highest market demand throughout the assessment period. The sector is currently prone to have the highest utilization of the data integration from millions of data sources as the researchers are getting inclined towards secondary online sources before proceeding with the core comprehensives.
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Data Virtualization Market Major Key Players:
The data virtualization market enlists some of the renowned players contributing to the market’s growth. The key players are Oracle Corporation (US), Red Hat Software (US), Informatica (US), Denodo Technologies Inc (US), Data Virtuality (Germany), Capsenta (US), Cisco Systems (US), SAP SE (Germany), IBM Corporation (US), and Microsoft Corporation (US).
Data Virtualization Market Segmentation:
The segmental analysis of the data virtualization market has been conducted by the elements of data consumers, vendors, and end-user.
In terms of data consumers: Business Intelligence (BI), mobile Enterprises, and application servers are the segments. Of these, the mobile enterprise occupies the largest market share with is recorded to grow significantly at 5% annually. The foremost factors that add to the value for mobile enterprise are the rise in smartphone penetration, enhancement in the real-time information capture and efficiency and productivity for organization.
In terms of vendors: Large software vendors, specialized pure-play vendors, service providers, and supplementary technologies, Cisco, Informatica, and Denodo, are the leaders. However, Microsoft holds a vital place in supplementary technologies in data virtualization.
Data Virtualization Market Regional Outlook:
Data Virtualization market is segmented into North America, Europe, APAC and rest of the world and North America turns out to be holding the largest share of the market. Being the early adopter of innovative technologies, North America leads the space. Large organizations are facing the issues of right data at right time. Data architects are engaged in providing the operational data. North America holds most of the software giant’s Microsoft, cisco, Informatica, Denodo which also turn out to be the large software vendors for data virtualization.
Data virtualization market is driven by many different and interrelated technologies and trends which lastly affects the end users. Increase in the internet penetration rate has resulted in the collection of huge amount of data across different data warehouses, clouds, databases and others.
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