New York, NY, Jan. 14, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Data Virtualization Market By Component (Standalone Software, Data Integration Solution, and Application Tool Solution), Deployment Mode (Cloud and On-Premises) , Data Consumer (BI Tools, Enterprise Applications, and Mobile and Web Applications), Enterprise Size (Large Enterprises and SMEs), and End User (Manufacturing, Healthcare, BFSI, Research and Academia, Media and Entertainment, Retail and eCommerce, Government and Defense, Telecom and IT, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
“According to the research study, the global Data Virtualization Market was estimated at USD 2,200 Million in 2019 and is expected to reach USD 8,500 Million by 2026. The global Data Virtualization Market is expected to grow at a compound annual growth rate (CAGR) of 22% from 2019 to 2026”.
Data virtualization is the process of combining data from multiple information sources in order to create a single, logical, and simulated view of data. Data virtualization is normally used in operations such as data integration, business integration, architecture data services, etc. The primary goal of the data virtualization software is to create a single data reservoir of information from multiple sources without copying or moving the data. Data virtualization is beneficial in reducing the risk of errors. As the data is not copied or moved around in data virtualization software, it reduces the workload on systems which results in improved data accuracy. The advantages of data virtualization are that it gives real-time access to the data and reduces the support and development time. However, data virtualization affects the operational response time of the system. Also, using data virtualization means the data has to be interpreted by the user.
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Many large organizations use different types of database management systems, which are not compatible with each other and cannot be integrated with other systems. Hence, organizations face challenges such as data integration and data warehousing of the huge amounts of stored. Data virtualization has helped organizations to gain real-time access to reliable information rapidly, which further helps companies to take major business decisions. This ability of data virtualization software to give real-time access to its user has been a key growth driving factor for the global data virtualization software market.
Top Market Leaders:
Top key players operating in the market are Denodo Technologies, SAS Institute, SAP SE, Informatica, International Business Machines Corporation, Information Builders, TIBCO Software, Oracle Corporation, Red Hat, Microsoft Corporation, and Others.
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Further, the cloud computing sector has been rapidly increasing for the last few years due to the rapid movement of applications to the cloud, which has driven the demand for data integration. Such a trend in the global market has been a key factor that has propelled the global data virtualization software market. Moreover, the rising popularity of open-source data integration and data virtualization tools is likely to create new avenues for the global data virtualization software market. However, the lack of standardization in cloud computing and data integration is likely to hamper the global data virtualization software market growth. Moreover, as data virtualization is in its development stage, the lack of technical expertise in the field is likely to be a key restraint in the global data virtualization software market.
Data virtualization is an approach to data management that enables an app to access and process data without having any detailed information about the data. Usually, data is extracted, transformed, and loaded for processing, however, in data virtualization, the data is fixed in a place and then real-time access is given to the source for data. This results in a reduced risk of errors in data. Data virtualization technology also supports the transaction writing of data back to the source. Data virtualization is a part of data integration that is often used in cloud computing, business analysis, data services, and master data management. Data virtualization is often viewed as a replacement for the extract, transform, load (“ETL”) process.
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In recent years, the popularity of cloud-based computing has soared due to the rising migration of applications to the cloud. This has driven the demand for data integration and data virtualization tools in the market. The rapid adoption of cloud-based tools is attributable to the flexibility and ease these cloud-based applications offers. Moreover, data virtualization has been opted for by large companies that have different data storage systems, which has been another growth driving factor for the market.
The data virtualization market is segmented based on component, deployment mode, a data consumer, enterprise size, end-user, and region. On the basis of component segmentation, the market is classified into standalone software, data integration solution, and application tool solution. On the basis of deployment mode segmentation, the market is classified into cloud and on-premises. On the basis of data consumer segmentation, the market is classified into BI tools, enterprise applications, and mobile and web applications. On the basis of enterprise size, the market is classified into large enterprises and SMEs. On the basis of end-user, the market is classified into manufacturing, healthcare, BFSI, research and academia, media and entertainment, retail and eCommerce, government and defense, telecom and IT, and others.
Browse the full “Data Virtualization Market By Component (Standalone Software, Data Integration Solution, and Application Tool Solution), Deployment Mode (Cloud and On-Premises), Data Consumer (BI Tools, Enterprise Applications, and Mobile and Web Applications), Enterprise Size (Large Enterprises and SMEs), and End User (Manufacturing, Healthcare, BFSI, Research and Academia, Media and Entertainment, Retail and eCommerce, Government and Defense, Telecom and IT, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/data-virtualization-market-by-component-standalone-software-data-1151
Based on the region, the North America segment dominated the global data virtualization software market in 2019, accounting for a market share of approximately 40% in 2019. North America data virtualization software market has foreseen significant growth in the last few years owing to growing cloud adoption and soaring cloud computing sector in the region. Moreover, the presence of key data virtualization software vendors in the region has also led to increased penetration of the data virtualization software among large companies.
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This report segments the data virtualization market as follows:
Global Data Virtualization Market: By Component Segmentation Analysis
- Standalone Software
- Data Integration Solution
- Application Tool Solution
Global Data Virtualization Market: By Deployment Mode Segmentation Analysis
Global Data Virtualization Market: By Data Consumer Segmentation Analysis
- BI Tools
- Enterprise Applications
- Mobile and Web Applications
Global Data Virtualization Market: By Enterprise Size Segmentation Analysis
Global Data Virtualization Market: By End User Segmentation Analysis
- Research and academia
- Media and entertainment
- Retail and eCommerce
- Retail and eCommerce
- Government and defense
- Telecom and IT
Key Insights from Primary Research
- Our primary respondents predicted that the data virtualization software market is expected to grow at an approximate CAGR of 22% between 2020 and 2026.
- The growing cloud computing market due to the increasing migration of applications over to the cloud has been a key growth driving factor for the global data virtualization software market.
- On the basis of components, the data integration solution segment held a major share in the global data virtualization software market in 2019.
- Asia Pacific is expected to have the highest CAGR over the projected period. Soaring adoption of cloud-based applications has been a key growth driving the Asia Pacific data virtualization software market till 2026.
- Lack of expertise in data virtualization and data integration is expected to be a key challenge for the data virtualization software market.
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