PUBLISHER: The Business Research Company | PRODUCT CODE: 1465722
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465722
Data integration and integrity software constitute a suite of tools and solutions crafted to facilitate the seamless consolidation of data from diverse sources while ensuring its accuracy, consistency, and reliability. These solutions play a pivotal role in helping organizations streamline data management processes, enhance data quality, and derive actionable insights from integrated datasets.
The primary components of data integration and integrity software are tools (solutions) and services. Tools (solutions) encompass the software applications and platforms specifically designed to facilitate data integration, data management, and data quality processes within organizations. These tools can be deployed either on-premise or in the cloud. They find application across a spectrum of industries, catering to both large enterprises and small and medium enterprises (SMEs). Various industry verticals, including IT and telecommunications, banking, financial services and insurance (BFSI), manufacturing, healthcare, retail, aerospace and defense, among others, utilize data integration and integrity software to optimize their data-related processes.
The data integration and integrity software market research report is one of a series of new reports from The Business Research Company that provides data integration and integrity software market statistics, including data integration and integrity software industry global market size, regional shares, competitors with a data integration and integrity software market share, detailed data integration and integrity software market segments, market trends and opportunities, and any further data you may need to thrive in the data integration and integrity software industry. This data integration and integrity software 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 and integrity software market size has grown rapidly in recent years. It will grow from $14.27 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth observed in the historic period can be attributed to several key factors. These include the increased volume of data generated, the growing trend of remote work, rising concerns about cybersecurity, initiatives focused on high data quality management, and the accelerated adoption of digital healthcare initiatives.
The data integration and integrity software market size is expected to see rapid growth in the next few years. It will grow to $27.03 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The anticipated growth in the forecast period can be attributed to several key factors. These include the increasing adoption of cloud computing, a heightened focus on data security measures, the imperative for digital transformation initiatives, a growing demand for real-time insights, and the escalating complexity of data. Major trends expected during this period encompass the integration of data integration and integrity software with customer relationship management (CRM) systems, integration with enterprise resource planning (ERP) systems, strategic collaborations among industry players, technological advancements within the software, and the expansion of data integration marketplaces.
The growing emphasis on data security is poised to drive the expansion of the data integration and integrity software market in the coming years. Data security encompasses the measures and protocols implemented to safeguard digital data from unauthorized access, disclosure, alteration, or destruction. This heightened demand for data security is spurred by various factors, including escalating cybercrime rates, inadequate adoption of security measures, and mounting pressure to safeguard sensitive data from illicit access. Data integration and integrity software play a crucial role in bolstering data security by furnishing comprehensive solutions for managing and safeguarding data across diverse systems and platforms. These solutions ensure regulatory compliance and mitigate the risks associated with breaches and unauthorized access. As per McKinsey & Company's October 2022 report, global organizations allocated approximately $150 billion towards cybersecurity initiatives in 2021, marking a 12.4% annual growth rate. Consequently, the escalating focus on data security is propelling the growth of the data integration and integrity software market.
Key players in the data integration and integrity software market are channeling their efforts towards technological advancements, with a particular focus on intelligent data management clouds aimed at automating data integration processes and enhancing data quality. An intelligent data management cloud is a cloud-based platform leveraging artificial intelligence (AI) to oversee data across multiple clouds and hybrid environments. It offers a comprehensive solution encompassing data integration, governance, master data management, and data quality. For instance, in July 2021, Informatica, a US-based software development company, introduced its intelligent data management cloud (IDMC), the industry's first end-to-end AI-powered cloud platform service on Azure, tailored for the Asia Pacific region. This initiative bolsters cloud capabilities in the region, with the IDMC suite providing a holistic approach to data integrity, aligning with industry priorities surrounding data accuracy and consistency. Customers and partners can leverage these services to expedite data integration, transformation, and loading of workloads to Azure Data Services, catering to a myriad of cloud data management requirements.
In May 2023, QlikTech International AB, a renowned US-based company specializing in analytics and business intelligence platforms, completed the acquisition of Talend Inc. for an undisclosed sum. This strategic move is designed to unite Qlik's proficiency in data integration, analytics, artificial intelligence (AI), and machine learning with Talend's expertise in data integration and data quality solutions. The merger aims to offer customers a comprehensive solution within the industry, integrating Qlik's strengths with Talend's innovative Talend Data Integration solutions.
Major companies operating in the data integration and integrity software market are Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, SAS Institute Inc., Palantir Technologies Inc., Informatica Corporation, Snowflake Inc., TIBCO Software Inc., Alteryx Inc., Confluent Inc., Talend SA, SnapLogic Inc., MuleSoft LLC, Domo Inc., Actian Corporation, Fivetran Inc., Matillion Limited, StreamSets Inc., Astera Software Inc., Panoply Ltd., Denodo Technologies Inc., CloverDX a.s., Striim Inc.
North America was the largest region in the data integration and integrity software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data integration and integrity software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the data integration and integrity software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The data integration and integrity software market consists of revenues earned by entities providing services such as data integration, data quality management, data governance, and data security solutions. 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.
Data Integration And Integrity Software 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 and integrity software 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 and integrity software ? 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 and integrity software 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 impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.