Data virtualization is a data integration technology. It incorporates data from different locations formats, and sources, without duplicating the data, to build a single “virtual” data layer that provides integrated data services to support numerous users and applications. Data virtualization may also be deliberated as a substitute to data warehousing and ETL (extract, transform, and load). Data virtualization technology is a crucial part of modern data architecture. This is primarily due to its adaptability and capacity to rapidly incorporate new data sources and deliver information in real-time to business clients. It is commonly used by organizations in order to enhance their IT infrastructure with competitive pricing, better performance, and a trusted environment. Presently, enterprises are creating high demand for data virtualization solution, as it has the capability to enhance business procedures and offer logical data warehousing and advanced data management capabilities.
The global data virtualization market is mainly driven by rising demand for cost-efficient data management solutions among enterprises in order to manage huge amount of data generated from organizations on a regular basis. Data virtualization solution enables enterprises to virtually integrate, access, and provide critical data to business intelligence and analytical tools. Additionally, increasing demand for data integration software tools is anticipated to boost the demand for data virtualization solutions around the globe. Furthermore, increase in adoption of cloud-based solutions by enterprises in order to enhance their business processes is also projected to fuel the demand for data virtualization solutions across the world. However, lack of standardization in enterprise data management is a crucial factor hampering the growth of the global data virtualization market. Furthermore, reluctance among enterprises to invest in advanced solutions is another key restraint. This is primarily because enterprises are still dependent on their traditional architecture and infrastructure.
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Rise in demand for business intelligence tools among small and medium enterprises is anticipated to create new opportunities for the growth of the global data virtualization market around the globe.
The global data virtualization market can be segmented on the basis of component, deployment, enterprise size, industry, and region. Based on component, the global data virtualization market can be bifurcated into solutions and services. The solutions segment can be categorized into standalone solutions and integrated solutions, while the services segment can be split into professional and managed services. In terms of deployment, the market can be segregated into cloud-based and on-premise. On the basis of enterprise size, the market can be categorized into small and medium enterprises and large enterprises. Based on industry, the global data virtualization market can be classified into manufacturing, healthcare, banking, financial services, and insurance (BFSI), media & entertainment, retail & e-commerce, IT & telecom, government, and others.
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In terms of region, the global data virtualization market can be segmented into Europe, North America, Middle East & Africa, South America, and Asia Pacific. The data virtualization market in North America is estimated to expand at a substantial rate during the forecast period. North America sees high adoption of data virtualization solutions due to the presence of established data virtualization solution vendors in the region. Presently, enterprises are highly focused on implementing data virtualization solutions in order to accelerate value on projects, reduce upfront costs, and form an agile information architecture. The data virtualization market in Asia Pacific is anticipated to grow significantly during the forecast period. Demand for data virtualization in the region is primarily generated from countries, such as, India, China, and Japan. Furthermore, rapid development and innovation in the field of data management system and growing awareness among end-users are expected to create new opportunities for the growth of the data virtualization market in Asia Pacific.
Major players operating in the global data virtualization market include SAP SE, IBM Corporation, Informatica LLC, Denodo Technologies Inc., Amazon Web Services (AWS), Cisco, Inc., Red Hat, Inc., TIBCO Software Inc., Oracle Corporation, VMware, Inc., Microsoft Corporation, SAS Institute, Information Builders, Gluent Inc., and Datometry Inc.
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