Big Data

Data Virtualization Market Size: Increase Demand in Banking & Financial Sectors

Data Virtualization Market

The Global Data Virtualization Market size is estimated to reach USD 10.87 billion from USD 2.45 billion in 2019, delivering a CAGR of 20.6% through 2027. The market growth is driven by mounting demand for cost-efficient data management solutions from enterprises to manage database generated from organizations on a day-to-day basis.

In the modern era, database in enterprises comes in different forms and is stored at different locations as well. The data can be both structured or unstructured, including columns and rows in a traditional database and data in formats such as email, social media content, logs, and others. The Big Data in its different forms is stored in log files, databases, SaaS, CRM, and other applications. Managing the database and records otherwise would be difficult if there is no data virtualization, which integrates data from different sources without moving or copying it, giving users a single virtual layer that spans across formats, physical locations, and applications.

Several large and small enterprises are investing in data virtualization technology as it enables easier and faster access to database. It also aids with data mining, further enabling effective analytics, and is extremely important for predictive analytics tools. Growing focus on lowing high-cost involvement of record storage and reducing the risks of errors with effective data management solutions will bolster the global data virtualization market growth through 2027.

Key participants in the market include Oracle Corporation, Denodo Technologies Inc., International Business Machines Corporation, Red Hat Software, Informatica, SAS, Cisco systems, Microsoft Corporation, Capsenta, and SAP SE, among others.

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Market Overview:

Information and communication technology (ICT) encompass a wide range of communication networks as well as the technologies that support them. The information and communication technology (ICT) sector bring together manufacturing and service businesses whose products primarily perform or enable information processing and communication via electronic methods, including transmission and display. The ICT sector contributes to technical advancement, increased output, and increased productivity. Its impact can be measured in a variety of ways: directly, as a contributor to output, employment, or productivity growth; or indirectly, as a source of technical development influencing other sections of the economy.

The study throws light on the Data Virtualization market mainly focusing on the growth factors and even the restraining factors. The restraining factors are also provided with the best solutions which also prove to be a counteract to the drawback and help increase the market demand. Applications, types, technology and many other segmentations are studied to give a depth of knowledge for further market investment. Key driving forces for Data Virtualization market is explained to help give an idea for a detailed analysis of this market.

The report also implements primary and secondary research techniques for gathering the most crucial pieces of professional information, and applies a number of industry-best techniques upon the data for projecting the future state of the global Data Virtualization market. Based on current market development, the report includes an analysis of how activities such as mergers and shapes the market’s future.

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Conclusively, all aspects of the Data Virtualization market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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