The “Data Virtualization Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Data Virtualization Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global data virtualization market size was US$ 3 billion in 2021. The global data virtualization market is expected to grow to US$ 20.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 25.7% during the study period from 2022 to 2030.
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Data virtualization enables a system to gather data from several sources and transform it into a virtual, logical, and unified customer picture. No technical knowledge of the data, such as where it is physically located or how it has been formatted, is required in order to access it using front-end solutions like apps, displays, and portals.
COVID-19 impact analysis
The global data virtualization market recorded a sharp increase in terms of revenue due to the COVID-19 pandemic. This is because the adoption of digital methods increased substantially. A significant increase in demand for a safe and adaptable cloud computing environment solution has also been observed in the data virtualization market. As a result of the closure of manufacturing or type units, numerous nations have experienced significant losses in revenue and business. But it is anticipated that the increased use of cloud computing or application containers by large businesses across leading economies would present substantial prospects for the expansion of the Data Virtualization Software market even in the coming years.
Factors Influencing the Market
The growing demand for advanced visualization technology will primarily drive the growth of the data virtualization market during the analysis period. The Internet of Things (IoT) and other technologies have produced an enormous amount of data over the past few years. Businesses are increasingly shifting to business intelligence software with cutting-edge technologies like artificial intelligence. Thus, it will fuel the growth of the data virtualization market during the analysis period.
The fact that visualization technologies offer a significantly high degree of customization. For instance, Deloitte Touche Tohmatsu Ltd. unveiled its advanced public data visualization tool in 2019, which offers insights based on coding algorithms, visualization techniques, etc.
Growing digitalization across the industries and increasing adoption of the Internet of Things are expected to bring a host of opportunities for the market during the analysis period. The enormous amount of data is also increasing steadily due to the creation of different applications, such as the cloud, software as a service (SaaS), and the internet of things (IoT). Therefore, it will increase the growth prospects for the data virtualization market during the study period.
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Regional Analysis
In terms of technological breakthroughs and adoption, North America is projected to record potential growth. It has a well-developed infrastructure and the financial means to purchase data virtualization products. Additionally, as a result of the growing competition among industry giants, key companies are offering more data management for data by assuring quick access and wider client outreach. As a result, it will boost the growth of the data virtualization market in North America.
Competitors in the Market
Adaptive Insights
Alteryx Inc.
ChartBlocks ltd.
Cluvio GmbH
Domo Inc.
Tableau Software Inc
QlikTech International AB
Oracle Corporation
IBM
Cisco Systems, Inc.
SAP SE
SAS Institute Inc.
Microsoft Corporation
Denodo Technologies Inc.
Informatica Inc.
OpenLink Software Inc.
Other Prominent Players
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Market Segmentation
The global data virtualization market segmentation focuses on Component, Deployment, Enterprise, End-User, and Region.
By Component
Solution
Standalone Software
Data Integration Solution
Application Tool Solution
Services
By Deployment Model
On-premise
Cloud
By Enterprise Size
Large Enterprises
SMEs
By End User
IT and telecom
BFSI
Government and Defense
Healthcare and Life Sciences
Retail
Manufacturing
Education
Others
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By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America
Key questions answered in the Data Virtualization market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Data Virtualization market over the forecast period?
- What are the factors driving and restraining the market for Data Virtualization?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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