Data Fabric Usage Expected to Soar with Year-on-Year Growth Rates of 22.3% through 2029
Organizations are increasingly betting on data management technologies such as Denodo Platform: they will represent a market of 6,611 million euros.
The latest Fortune Business Insights study confirms that the market for solutions focused on Data Fabric architecture will grow from €1,622 million to €6,611 million by 2029.
The US dominates the Data Fabric market share with a turnover of €448 million in 2021 thanks to the large number of vendors with this architecture, making it the Data Fabric pioneer.
In Europe, on the other hand, big data technologies are growing at an astonishing pace because of digitization, especially since these digital transformation processes have accelerated so much in the wake of the pandemic, which has meant the adoption of data integration and management tools.
Speaking of Data Fabric, two methods of data integration are differentiated: physical, in which data is kept at the point of destination to which it is moved, or through the “logical” Data fabric in which data virtualization is employed.
“From a technological standpoint, it is imperative that companies have a flexible data architecture that provides a logically consolidated view of all enterprise data. This was crucial especially during the pandemic, where many businesses realized that their data architecture was not as flexible as they would like. With data virtualization, organizations can take a faster approach to consolidating their data, as well as its delivery, allowing them to be more self-sufficient,” says José Andrés García, head of Iberia and Latin America at Denodo.
