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The Global Data Virtualization Market size is expected to reach $10 billion by 2028, rising at a market growth of 18.6% CAGR during the forecast period
Data virtualization refers to the logical data layer, which assimilates the data distributed across the different platforms, supervises the data for security & governance and provides it to business users in the meantime.
New York, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Data Virtualization Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Mode, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412026/?utm_source=GNW
Data virtualization provides a contemporary method of data integration. It keeps the data in the source system by just presenting the integrated data to the business user, not like the ETL solution, which replicates the data.
Data virtualization extracts the data from the respective source system as business users analyze the report deeply. Irrespective of source location or platform, data virtualization delivers a mutual platform for data consumers to attain huge amounts of data in the manner they choose. The adoption of IoT, improvements in outdated technologies, and digitalization are the reasons for the generation of a huge amount of data from businesses.
Moreover, the devices that are connected to the internet also participate in the generation of huge amounts of data. Applications like the cloud, software as a service, and the internet of things are evolving and participating in the huge amount of data. Data virtualization is a huge term that permits an application to extract and operates data without demanding technical information about data in pursuit of data management.
COVID-19 Impact Analysis
It is expected that the outbreak of COVID-19 all over the world will support the development of the data virtualization market. The widespread of COVID-19 has made it crucial for enterprises to provide safety information and tackle security issues while implementing operations remotely. Along with this, there is a high demand for a safe and versatile cloud computing environment solution. The data virtualization market has witnessed growth throughout the lockdown in different regions due to the increasing interest in dispersed computing innovation. In order to advance security systems, the medical sectors are showing an inclination toward data center virtualization.
Market Growth Factor
Increasing demand for the advanced virtualization technology
In the last few years, there is the hike in the quantity of data produced through several technologies like the Internet of Thing (IoT) and other data sourced. This huge data consists of both organized and un-organized data. In order to manage large amount of data and produce a well knowledgeable presentation of statistics, organizations are choosing business intelligence software with high-tech technologies like artificial intelligence (AI).
Requirement of data management
Data management has not always been more important as it is being considered nowadays. This is due to the increased popularity of social media, Web, big data, and cloud technologies that petabytes of information are distributed over the areas, both on-premises and off-premises. Without reasonable visibility and management of corporate data, organizations could not afford risking the revenue and productivity failure.
Market Restraining Factor
Security and scalability issues
Data virtualization software demands users to depend on third-party providers to host their servers that will access their data. Unfortunately, depending on third-party providers for solutions with crucial details can raise the threat of data protection violations, which can harm the organization’s integrity. Virtualization can create problems in scaling user’s functions as every solution that the company’s operations rely upon would require to be available via virtualization cloud computing.
Component Outlook
On the basis of component, the data virtualization market is segmented into solution and services. In 2021, the service segment procured a remarkable revenue share in the data virtualization market. It refers to service offered to the businesses with the consideration of the conversion plan. Along with it, the service provides a finish-out facility which allows the enterprises to manage a whole data center operation and related services as an only integrated entity.
Solution Type Outlook
Under solution type, the data virtualization market is classified into standalone software, data integration, and application tool solution. In 2021, the standalone software garnered a significant revenue share in the data virtualization market. The software which works without the network connection of the software package is referred as standalone software. When the core program does not need an internet connection in such scenario, standalone software is required.
Deployment Mode Outlook
Based on deployment mode, the data virtualization market is fragmented into on-premise and cloud. In 2021, the on-premise software witnessed the largest revenue share in the data virtualization market. The on-premises software work internally from execution to processing of the solution where updates, protection, and care also take place natively. The company is accountable for the order to keep up the solution and associated procedure with the use of on-premises software.
Organization Size Outlook
On the basis of organization size, the data virtualization market is distributed into SMEs and large enterprises. In 2021, the SMEs segment covered a considerable growth rate in the data virtualization market. Due to the amazing perks of using data virtualization like flexibility, enhanced safety & agreement, and less IT management expenditure, there is a rapid demand for data virtualization centers among small & medium-sized enterprises. The data virtualization software is appropriate for all small enterprises, like start-ups or freelancers, and also for large enterprises.
Vertical Outlook
By Vertical, the data virtualization market is classified into IT & telecom, retail, healthcare & life sciences, manufacturing, government & defense, BFSI and education. In 2021, the IT & telecom segment registered the largest revenue share in the data virtualization market. This is due to its assistance to businesses to enhance their artificial intelligence-based IT structure, secure handling charges, and consuming core competency.
Regional Outlook
Region wise, the data virtualization market is analyzed across North America, Europe, Asia pacific, and LAMEA. In 2021, North America region led the data virtualization market by generating the maximum revenue share. The need for data integration software tools and the advancement of data virtualization solutions will rise in the region with the growth in adoption of cloud-based technologies.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Cisco Systems, Inc., Salesforce.com, Inc. (Tableau Software, Inc.), Workday, Inc., Alteryx, Inc., Domo, Inc., Ceros, Inc. (ChartBlocks Ltd.), Cluvio GmbH and QlikTech International AB
Scope of the Study
Market Segments covered in the Report:
By Component
• Solution
o Data Integration Solution
o Application Tool Solution
o Standalone Software
• Services
By Deployment Mode
• On-premises
• Cloud
By Organization Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
By Vertical
• Telecom & IT
• BFSI
• Retail
• Education
• Government & Defense
• Manufacturing
• Healthcare & Life Sciences
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Oracle Corporation
• IBM Corporation
• Cisco Systems, Inc.
• Salesforce.com, Inc. (Tableau Software, Inc.)
• Workday, Inc.
• Alteryx, Inc.
• Domo, Inc.
• Ceros, Inc. (ChartBlocks Ltd.)
• Cluvio GmbH
• QlikTech International AB
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412026/?utm_source=GNW
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