Market Highlights
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. The Data Virtualization Market holds some of the renowned players which are contributing a lot. Some of the key players Cisco Systems (US), Red Hat Software (US), Informatica (US), Denodo Technologies Inc (US), IBM Corporation (US), Oracle Corporation (US), SAP SE (Germany), Capsenta (US), Data Virtuality (Germany), and Microsoft corporation (US). Data Virtualization is a simple approach to data management by allowing an application to extract and manipulate the data without even requiring the technical details about the data (old and new file location servers).
Data virtualization market is estimated to grow at a fast-paced accounting to the enterprise applications like CRM, ERP, BI, CMS, ESB, Web conferencing and many others. Data virtualization is held integrated by various different technologies and trends like cloud services, Enterprise services, application servers and many data architects, CIO’s CTOs seem to have interest in data virtualization.
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Data Virtualization can be experienced as an advanced and more user-friendly version of Data federation, however there is a big difference between the two. Data federation still revolves around data extraction, data transform and data load whereas data virtualization creates an abstraction layer which can be used to have a logical view of all the data without even worrying about the technical details of the data.
Earlier, there were only telecom and financial services as the largest users of data virtualization, but retail, healthcare and insurance will be among the top users of the technology. Many healthcare firms are interested in extracting the data records of a patient with ease of manipulation without worrying about the technical details of the data. Enterprise services, application servers and many data architects, CIO’s CTO’s seem to have interest in data virtualization. This is a result of the connected devices and increase in the cloud services.
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Regional Analysis
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. This has ultimately created a requirement for the e – commerce companies to adopt the data virtualization. North America, especially US is the leader in e – commerce space and the internet usage. Being an early user of cloud services, North America leads data virtualization market upfront.
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