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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.