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Data Fabric Market is Estimated to Witness High Growth Owing to The Rising Adoption of Advanced Anal

Author : CMI Blogging | Published On : 07 Feb 2024



The data fabric market is witnessing significant growth owing to the growing demand for data analytic solutions across various sectors. Data fabric helps in simplifying the complex data landscape by providing a unified platform for data management and governance. It allows organizations to easily access, analyze, transform and secure data in real-time from multiple data sources such as cloud and on-premise applications. Some of the key features of data fabric include ingestion and integration of data from various sources, centralized administration of metadata, usage of common standards and protocols, extensive search capabilities and orchestration of data services.


Market Opportunity:
The rising adoption of advanced analytics across various industries presents a huge market opportunity for data fabric solutions. Organizations are increasingly leveraging data-driven insights to gain competitive advantage and improve business outcomes. Data fabric allows seamless flow of data across analytics tools and platforms and enables organizations to deploy advanced analytics like predictive analytics, machine learning and artificial intelligence more efficiently. It breaks down data silos by providing a common platform for analysts and data scientists to access data in real-time. This boosts analytics capabilities and supports strategic decision making. The rising demand for advanced analytics will continue to drive the adoption of data fabric solutions among enterprises over the forecast period.

Porter's Analysis
Threat of new entrants: The data fabric market requires significant investment in R&D and infrastructure to develop, which limits threat of new entrants. However, growing external funding and partnership opportunities have increased potential for new players.
Bargaining power of buyers: Individual buyers have moderate bargaining power due to presence of many producers supplying similar data fabric services. However, larger organizations have greater negotiating power due to project size and scope.
Bargaining power of suppliers: Suppliers of raw materials and technology have moderate-to-high bargaining power owing to concentration of few specialized suppliers and proprietary systems. This impacts production costs.
Threat of new substitutes: Threat of substitutes is moderate as data fabric technology offers unique features relative to alternatives. However, alternative data management solutions continue to emerge.
Competitive rivalry: The market is highly competitive due to presence of numerous global and regional players offering similar services. Key strategies focus on differentiating technology, quality, and customer experience.

SWOT Analysis
Strengths: Data fabric technology facilitates real-time insights, eliminates data silos, and streamlines analytics. Established players benefit from proprietary IP and expertise.
Weaknesses: High investment needs and long development cycles. Integration challenges with existing IT infrastructure. Regulatory compliance adds to costs.
Opportunities: Growing big data analytics demand across industries drives market potential. Partnerships to expand applications and geographical reach.
Threats: Competition from alternative data management solutions. Cybersecurity and data privacy vulnerabilities. Regulatory uncertainty regarding data sharing/ownership.

Key Takeaways
Global Data Fabric Market Size is expected to witness high growth over the forecast period of 2024 to 2031 ascribed to exponential data generation and subsequent need for advanced data management systems.

Regional analysis indicates that North America is anticipated to account for the largest share of the global data fabric market through 2031. This can be accredited to substantial investments by leading technology companies as well as government research institutes based in the US and Canada. Growth is further facilitated by expanding application scope across sectors such as BFSI, IT & telecom, healthcare, and retail & e-commerce.

Key players operating in the data fabric market are Merck KGaA, Sanofi, AlpalifeB Inc, GenScript, Novartis International AG, Taisho Pharmaceutical Holdings Co., Ltd., Sino Biological, Inc., GeneMedi, Biocytogen, Abnova Corporation, NanoTag Biotechnologies, Avillion LLP, Capra Science, Numab Therapeutics, CUSABIO TECHNOLOGY LLC, Proteintech Group, Inc., GT Biopharma, Inc., Confo Therapeutics, R&D Systems, Inc., Abcepta Biotech Ltd. Co. These companies focus on new product launches, mergers & acquisitions, and strategic alliances to gain market share.

 

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