Data Virtualization Market

Increase in cloud-based solution demand & business intelligence software usage are anticipated to boost industry expansion and the data virtualization market.

PORTLAND, PORTLAND, OR, UNITED STATE, July 22, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Data Virtualization Market," The data virtualization market was valued at $3.2 billion in 2021, and is estimated to reach $22.2 billion by 2031, growing at a CAGR of 21.7% from 2022 to 2031.

The global Data virtualization industry is influenced by many factors, including increasing demand by enterprises for advanced visualization technology, production of enormous volumes of data, and increasing investments in visualization platforms and business collaborations primarily drive growth of the global data virtualization market. However, absence of standards in business data management, and high cost and security issues may hamper the Data Virtualization Industry growth to some extent.

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Based on components, the solution segment dominated the data virtualization market in 2021, and is expected to maintain the dominance in the upcoming years, owing to restrict and maintain internal cyber threats and risks, such as unauthorized access, data theft, and more. However, the services is expected to witness the highest growth rate during the Data Virtualization Market Forecast period. Data virtualization services mechanisms manage and secure accounts that have system access beyond that of a standard user to secure the confidentiality of data servers.

On the basis end user, the IT and telecom segment dominated the data virtualization market in 2021, and is expected to maintain its dominance in the upcoming years. It is because, it helps the organizations to optimize their artificial intelligence-powered IT infrastructure resource utilization core competency and save operating costs. However, the retail segment is expected to witness the highest growth rate during the forecast period, as to reduce the price of document generation, printing, and dissemination. In addition, a variety of printing and mailroom concerns can be resolved with Data Virtualization Software.

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Post-COVID-19, the Data virtualization market size is estimated to grow from $3,170 million in 2021 to reach $22,224.7 million by 2031, at a CAGR of 21.7%. It is projected that the COVID-19 outbreak will benefit the development of the data virtualization business. This is because the implementation of COVID-19 will make it possible for businesses to handle security concerns and provide secured information access when conducting remote operations. In addition, the Data Virtualization Software market has seen a huge surge in demand for a secure and flexible cloud computing environment solution.

However, lack of skill workforce availability across the world, halted, due to the economic slowdown and global lockdown. Subsequently, affecting the growth of data virtualization market during the year 2020. Countries across the globe has suffered major loss of business and revenue, owing to the shutdown of manufacturing or type units. But the rise in adoption of cloud computing or application container major enterprises across prime economics has offer significant opportunities for the growth of data virtualization market. Thereby, expected to hamper the growth of market in by the end of 2021.

Asia-Pacific is expected to observe highest growth rate during the forecast period. Increase in investments for Data virtualization solution among countries such as China, Japan, India, Australia, South Korea, and rest of Asia-Pacific fuel growth of the market. Moreover, Asia Pacific is experiencing strong adoption of visualization tools, specifically standalone visualization software. This increasing demand for visualization platforms in the Asia Pacific region is offering lucrative opportunities for software vendors. To leverage these opportunities, several visualization platform vendors are focusing on establishing their presence in the region through merger and acquisitions, company collaborations, and partnerships to extend their customer base. Such developments and investments by the companies are boosting the growth of Asia Pacific market.

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KEY FINDINGS OF THE STUDY

1. Based on components, in 2021, the solution segment dominated the data virtualization market size. However, the services segment is expected to exhibit significant growth during the forecast period.

2. Depending on end user, the IT and telecom segment generated highest revenue in 2021.

3. Based on enterprise size, the large enterprises segment generated the highest revenue in 2021. However, the SMEs segment is expected to exhibit significant growth during the forecast period.

4. Based on region, North America dominated the market in 2021. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

Some of the key data virtualization industry players profiled in the report include Adaptive Insights, Alteryx Inc., ChartBlocks Ltd., Cisco Systems, Cluvio GmbH, Denodo Technologies, Domo Inc., International Business Machine (IBM), Informatica, Microsoft Corporation, OpenLink Software, Oracle Corporation, QlikTech International AB, SAP SE, SAS Institute, Tableau Software, and Visually Inc.. This study includes Data virtualization market share, trends, Data virtualization market analysis, and future estimations to determine the imminent investment pockets.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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