Market Highlights
Market Research Future (MRFR) expects the data virtualization market 2020 to touch around USD 278 billion by 2023-end. Between 2017 and 2023 (evaluation period), the market can advance at a rate of 15%, confirms MRFR. We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak.
Main Boosters and Key Restraints
The COVID-19 outbreak has highlighted the significance of having access to real-time data across various industries. The pandemic has accelerated the need for data virtualization as it helps collect information from different data sources and allow the enterprises to reach sound decisions. There is no wastage of time as the companies are able to review the data in real-time, despite the ever-changing information. The lockdown along with the surge in death tolls, shut down businesses, and the economic uncertainty has only boosted the need for advanced technologies such as data virtualization.
Following the SARS-CoV-2, the healthcare sector has been actively using data virtualization to offer integrated patient information directly to emergency rooms to decide the apt treatment protocol. The information pertains to the patients’ recent latest visits, medications as well as test results. Hospitals are increasingly deploying data virtualization to gather real time data with respect to the novel coronavirus diagnoses, and also to decide the accurate logistics in order to curb the spread of COVID-19.
Governments are embracing data virtualization to offer information to the public with regard to the measures they are adopting to protect them from the disease. In a nutshell, data virtualization has been an important tool in the global response to SARS-CoV-2 by enhancing the efficiency of the response teams and providing them the upper hand over the pandemic. Moreover, the increase in partnerships and collaborations between leading firms can also induce further market growth.
For instance, in April 2020, Keyrus, in a bid to solidify its position in the data virtualization market, partnered with Denodo. This partnership can help Keyrus boost its commercial and technological development and help offer its customers better data performance.
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Segmentation:
The Data Virtualization industry can be segmented depending on Data consumers, Vendors and End-user.
With respect to data consumers, the market has been considered for Mobile Enterprises, Application servers and Business Intelligence (BI). The mobile enterprises segment leads the worldwide market and is expanding at a rate of 5%. The key boosters can be the rising use of smartphones, the ability enhance real time data capture and the productivity level of organizations to be mobile ready.
The main vendors in the global market are specialized pure play vendors, large software vendors, supplementary technologies and service providers. Informatica, Denodo and Cisco are the top large software vendors in the market while Microsoft has expertise in data virtualization’s supplementary technologies.
Government, e-commerce, insurance, telecom, healthcare, manufacturing, media and retail are the key end-users studied in the report.
Regional Insight
The data virtualization market size has been studied by MRFR experts, considering the main regions of Europe, North America, APAC/Asia Pacific along with RoW/ rest of the world.
Given its technological and financial superiority, North America is the global leader in the data virtualization market. A significant number of vendors in the United States and Canada offer cloud-based services and solutions to bring down the cost of managing the voluminous amount of data. Cloud-based data virtualization has captured the largest portion of the North American market. Software as a Service/SaaS and IoT are some of the other important trends gaining impetus in the market here.
The expanding banking and financial industry along with the rapidly advancing IT and telecommunication sector in Japan, India and China can have a huge impact on the APAC market. Also, the growing number of small and medium enterprises across the region and their rising focus on adopting data virtualization favors market expansion.
Renowned Firms
Some of the renowned firms in the data virtuliazation market are Denodo Technologies Inc (US), Informatica (US), IBM Corporation (US), Cisco systems (US), Microsoft corporation (US), Data Virtuality (Germany), Capsenta (US), Red Hat Software (US), Oracle Corporation (US), SAP SE (Germany), to mention a few.
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Data Virtualization Market, By Data Consumers (Business Intelligence (BI), Mobile Enterprises, Application Servers), By Vendors (Large Software vendors, Specialize Pure Play vendors, Service providers, Supplementary Technologies), By End – User (Healthcare, Insurance, Retail, Manufacturing, E-commerce, Media, Telecom and Government) and By Region (North America, Europe, APAC and Rest of the World).
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