PUBLISHER: The Business Research Company | PRODUCT CODE: 1392601
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392601
“Data Integration Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on data integration market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for data integration? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The data integration market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The data integration refer to a process of collecting data from multiple sources together to provide users with a unified view used for operational and analytical processes. These data integration sources include multiple data cubes, databases, or flat files. Data integration aims to help understand what numerous data sources are pointing out.
The main types of components in the data integration market are tools, services, professional services and managed services. The data integration software tools are used to combine data into a single or unified view. The data integration tools perform mapping, transformation, and data cleansing processes. Data integration is mainly deployed through cloud or on-premises in the large enterprises, small enterprises and medium enterprises. The industry verticals using data integration include BFSI, retail and consumer goods, media and entertainment, manufacturing, energy and utilities, healthcare and life sciences, telecom and it, government and defense, transportation and logistics and travel and hospitality.
The data integration market research report is one of a series of new reports from The Business Research Company that provides data integration market statistics, including data integration industry global market size, regional shares, competitors with an data integration market share, detailed data integration market segments, market trends and opportunities, and any further data you may need to thrive in the data integration industry. This data integration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The data integration market size has grown rapidly in recent years. It will grow from $12. 97 billion in 2023 to $14. 29 billion in 2024 at a compound annual growth rate (CAGR) of 10. 1%. The growth in the historic period can be attributed to globalization and distributed data sources, focus on data quality and master data management, adoption of self-service data integration, increased complexity of it environments, data warehousing evolution. .
The data integration market size is expected to see rapid growth in the next few years. It will grow to $22. 26 billion in 2028 at a compound annual growth rate (CAGR) of 11. 7%. The growth in the forecast period can be attributed to evolving industry-specific requirements, focus on customer satisfaction and experience, global regulatory and governance considerations, continuous improvement and analytics focus, alignment with devops practices, compliance with data privacy regulations, edge computing integration, focus on customer experience and insights, real-time data integration, diversity of data sources. . Major trends in the forecast period include vendor consolidation and platform offerings, globalization and data integration challenges, event-driven architecture, focus on data privacy and security, containerization and microservices architecture. .
The rise in big data technologies is expected to propel the data integration market. Big data technologies are rising due to the need for handling extensive, random, and high-velocity data and enabling decision-makers to limit risks, discover new insights and improve decision-making. This rise in big data technologies will create a huge demand for data integration as it is an essential part of big data technologies and a crucial step before analysing big data for insights. The data integration combines data in a simple and unified manner that helps for easy analysis of data during the use of big data technologies. For instance, in December 2022, according to Capgemini, a French based information technology company, 27% of business executives say their company's Big Data initiatives are profitable. Therefore, the rise in big data technologies will drive the data integration market growth.
Rising adoption of digital transformation is expected to propel the data integration market. Digital Transformation is the strategic process of using digital technologies to fundamentally change and improve an organization's operations, products, services, and customer experiences, with a focus on innovation and efficiency. Organizations are adopting data integration solutions to enable digital transformation initiatives, optimizing data usage, and improving business agility. For instance, according to the World Economic Forum, a Geneva-based international non-governmental organization for public - private sector collaboration, the societal and industrial value of digital transformation could reach $100 trillion by 2025. Therefore, the rising adoption of digital transformation will drive the data integration market growth.
Technological advancement is a key trend gaining popularity in the data integration market. The market is witnessing the implementation of next-generation technologies into data integration such as data warehousing, data virtualization, artificial intelligence (AI), machine learning (ML), and others. The advanced data integration tools make the process even more effective, and enable advanced automation, ease of use, and flexible approach while enhancing multiple use cases. Major companies operating in the data integration market are focused on providing technologically advanced data integration solutions and services to strengthen their market position. For instance, in May 2021, TIBCO Software Inc., a US-based software company launched TIBCO Data Virtualization and TIBCO EBX technologies in its Unify data management portfolio, with groundbreaking advancements. These solutions significantly strengthen an organization's data fabric, allowing users to realize the immense potential of data. These solutions offer ease of use with no technical knowledge, offer a flexible approach, and enable users to unify, manage and innovate with the data.
Major companies are strategically entering partnerships and collaborations with start-ups and mid-sized companies in the data integration market to broaden the products and services offered by the company. Strategic collaborations and partnership agreements help companies expand their existing product portfolio and geographical reach. For instance, in May 2022, Informatica Inc., a US based data integration software and service provider for a variety of enterprises, announced a partnership with the Oracle platform for corporate connectivity and automation, which rapidly modernizes APIs, apps, data, and business processes. The collaboration intends to offer cloud data integration and governance solutions for enterprise analytics, data warehouses, and data science. Customers of both organizations would automate their data by migrating on-premises workloads to a cloud-based platform. They might also leverage their existing skills and investments while receiving insights from dependable data at scale. Oracle is a US based Computer software company.
In February 2022, Software AG, a Germany-based software company acquired StreamSets for an undisclosed amount. With this acquisition, Software AG will enter into the cloud data integration market segment by cross-selling and building collaborative iPaaS services. StreamSets is a US-based software development company that offers a modern data integration platform.
Major companies operating in the in the data integration market report are International Business Machines Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, SAS Institute Inc., ServiceNow Inc., Hewlett Packard Enterprise Company (HPE), BMC Software Inc., Broadcom Inc. (formerly CA Technologies), Cherwell Software LLC, Ivanti Inc., Axios Systems plc, Citrix Systems Inc., Hornbill Systems Limited, EasyVista Inc., Micro Focus International plc, Atlassian Corporation Plc, Alemba Limited, SysAid Technologies Ltd., Freshworks Inc., SolarWinds Corporation, Zendesk Inc., Agiloft Inc., TOPdesk International B. V., HappyFox Inc., Zoho Corporation Pvt. Ltd., Google Cloud Dataflow, Amazon Web Services (AWS) Glue, Informatica PowerCenter, Talend Open Studio
North America was the largest region in the data integration market in 2023. The regions covered in the data integration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the data integration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The data integration market includes revenues earned by entities by providing master data management services, data federation management, data warehousing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.