ID: MRFR/ICT/3036-HCR | February 2021 | Region: Global | 100 pages
The Data Virtualization Market is predicted to achieve approximately 278 USD billion for the forecast year 2023. Further, the global market has expectations to meet at 20% CAGR during the forecasted period of 2017 to 2023. Geographically, the North American region is holding the largest Data Virtualization Industry share for the forecast period. The introduction of advanced technology such as application servers, cloud services, Enterprise Services, and many data architects in data virtualization is playing an important role in enhancing the global Data Virtualization Market Growth. In data virtualization, CIOs 'CTO's seem to have higher interest due to their advanced technology. It has evident that North America is leading the higher space because this region is the early adopter of innovative technologies.
Data Virtualization is a data management approach that does not require the technical details about the data but manipulates the data and allows an application to extract it. The emerging enterprise applications like BI, CMS, ESB, CRM, ERP, Web conferencing, and many others are increasing the demand of the Data Virtualization Industry. Data Virtualization is considered a more user-friendly version and an advanced version of Data federation. The data virtualization federated data from various sources like a data warehouse, relational databases, operational systems, cloud services, and others. It delivers to the data consumers like Application servers and Enterprise applications by creating an abstraction layer. The Data Virtualization Indusrty is classified based on the Vendors, End-user, and Data consumers. Based on the data consumers segment, the global market is classified into Mobile Enterprises, Business Intelligence (BI), and Application servers. Among these segments, the Mobile enterprise is dominating the largest market share at 5% CAGR for the forecast period. The increasing enhancement in real-time information capture, increasing productivity and efficiency for organizations, and the increase in smartphone penetration are the major factors driving the market growth and generating value for mobile enterprises. Based on the vendor’s segmentation, the Data Virtualization Industry is segmented into specialized pure-play vendors, supplementary technologies, large software vendors, and service providers. In this context, the large software vendors and the leaders are Informatica, Cisco, and Denodo. Moreover, Microsoft is holding the place in data virtualization supplementary technologies.
The Data Virtualization Market report highlights the market growth potential for the forecast year 2023. Along with that, this report has given the focus on the COVID-19 analysis to understand the impact on the global market. And the market dynamics have been highlighted in this report to give an understanding of the global challenges, restraints, cumulative analysis, and growth aspect. Moreover, the report also explains the market segment overview to understand its various growth potential across various regions. This Data Virtualization Market report is putting light on various regions to understand the competencies and effective products in the upcoming years.
COVID-19 Impact Analysis:
The ongoing pandemic had brought a positive impact on the Global Data Virtualization Market across various regions. The global market has experienced critical development during the COVID-19 pandemic. The growing interest in distributed computing innovation has been increased the demand of the global market during the lockdown across various regions.
Hence, the medical sector has shown much interest in Data Center Virtualization products to enhance their security system. Moreover, the key players have played an important role in boosting the Global Data Virtualization Market forecast period.
Global Market Dynamics:
In the past few years, evidence has that the introduction of IoT, digitalization and advancement in traditional technologies are increasing the demand for the data generated in organizations. The huge amounts of data generation are the major growth driver of the Data Virtualization Market.
The Data Virtualization Market is providing data virtualization solutions, including accelerated time-to-market, improved data management, and enhanced data quality. This is expected to enhance the growth of the global market.
Many of the key players are focusing on reducing infrastructure costs by providing cloud-based solutions for the management of the enormous amount of data. Hence, the Data Virtualization Market is gaining more popularity due to its reduced operational cost, scalability, agility, and flexibility. So the global demand is increasing for data virtualization services, and the increasing demand for cloud-based solutions is bringing more opportunities for the global market.
As a result, the Data Virtualization Market Players are giving their collaborative efforts and support to boost up the demand for cloud-based solutions and bring more opportunities for the marketing field.
Nowadays, business strategies are required to access various data types, such as transaction data, customer details, and healthcare data. Therefore, the organizational sectors need to consider various privacy laws and data protection to access the data. So here, the lack of standardization in enterprise data management can be a major restraint for global Data Virtualization Market growth.
Further, the Data Virtualization Market Players are trying to improve the cloud-based solutions and functionality to resolve these market restraints.
The increasing modern advanced technology and increasing adoption of data virtualization tools are increasing the demand of the Data Virtualization Market. However, the lack of expertise in using relational databases can bring major challenges for the global market.
The Data Virtualization Market Analysis report explains that the global market is involving more key players to work progressively on these emerging challenges.
This Market is predicted to achieve approximately 278 USD billion for the forecast year 2023. Further, the global market has expectations to meet at 15% CAGR during the forecasted period of 2017 to 2023.
Thus, this Market Players are trying to improve the cloud-based solutions and functionality to resolve the emerging issues and challenges for the upcoming years.
Market segmentation Overview:
Based on the type segmentation, this Market is classified into different types: visitor machine, machine, type one hypervisor, type two hypervisor, and Paravirtualization apparatuses.
Among these, the type two hypervisors run on a host working framework, and on the other hand, the type one hypervisor runs on the framework equipment.
The Data Virtualization Market is classified into huge ventures, small and medium-sized enterprises based on the organization size segmentation.
Among these, the small and medium-sized enterprises are expected to generate higher CAGR for the reviewed period.
The Data Virtualization Market Segments is classified into various verticals such as BFSI, IT and Telecommunication, producing, medical care, government, and others.
The medical care segment is predicted to generate a higher CAGR in the forecast period among all these segments.
Based on the regional classification, the Data Virtualization Market is giving services to various regions such as North America, Asia Pacific, Europe, South America, and the Rest of the World.
The North American region is holding the largest share for the forecast period. The introduction of advanced technology such as application servers, cloud services, Enterprise Services, and many data architects in data virtualization is playing an important role in enhancing the global Data Virtualization Market Growth. In data virtualization, CIOs 'CTO's seem to have higher interest due to their advanced technology. It has evident that North America is leading the higher space because this region is the early adopter of innovative technologies.
Competitive Landscape Analysis:
The Data Virtualization Market Trends has some top key players such as:
The Data Virtualization Market Report explains that these key players support the recent growth of the global market and imply various strategies to further boost up the annual growth.
The Data Virtualization Market report highlights the market growth potential for the forecast year 2023. Along with that, this report has given the focus on the COVID-19 analysis to understand the impact on the global market. And the market dynamics have been highlighted in this report to give an understanding of the global challenges, restraints, cumulative analysis, and growth aspect. Moreover, the Data Virtualization Business report also explains the market segment overview to understand its various growth potential across various regions. This Data Virtualization Industry report is putting light on various regions to understand the competencies and effective products in the upcoming years.
By Organization Size:
Frequently Asked Questions (FAQ) :
A simple approach of data management, in which data from different sources are compiled and presented in a single and virtual view is called data virtualization. This information can be assessed by different front-end solutions, such as dashboards, applications, and portals. This can be done without the knowledge of the actual location of data.
It is noted that enterprises use different database management systems that cannot coexist. This limits integration and storage of a large volume of data. Moreover, an increase in the generation of structured and unstructured data due to digitalization is pressing the need for effective data management. Data virtualization avails reliable and real-time information instantly to people in businesses. This virtual view of data assist businessman take rational decisions. Benefits of data virtualization to favor its market.
MRFR study on the global data virtualization market reveals, the market is expected to expand at about 15% CAGR in the forecast period (2016 to 2023). The worldwide data virtualization market is expected to capitalize on the growing adoption of data virtualization data management techniques by various enterprises. MRFR estimates that the market can touch a valuation of USD 278 billion by 2023.
In North America, the rapid data virtualization market expansion can be attributed to the presence of tech-giants and tech-savvy people inclining towards the latest technologies. The extensive use of the internet and the proliferation of e-commerce are generating a large volume of data. The hike in the data virtualization adoption across verticals in North America, especially in the US, is expected to catalyze the regional market growth.
Telecom, financial services, retail, insurance, and healthcare are sectors that are consumers of data virtualization. The telecom and the financial service sectors are noted to be the high end-users of data virtualization.