The Global Back-end Data Virtualization Market size is estimated to reach USD 17.66 billion from USD 3.34 billion in 2021, delivering a CAGR of 20.6% through 2030. 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 Back-end 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 Back-end 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 Back-end Data Virtualization market growth through 2030.
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Back-end Data Virtualization also offers enhanced data management capabilities. It provides a centralized view of data, which simplifies data governance, security, and compliance. Organizations can define data access policies and enforce them across different data sources, ensuring data consistency and control.
With the increasing volume of data generated from various sources, the demand for Back-end Data Virtualization is expected to grow. The ability to quickly and seamlessly access and integrate data from multiple sources provides organizations with a competitive advantage in terms of agility, efficiency, and innovation.
In conclusion, Back-end Data Virtualization is a valuable solution for organizations facing the challenges of managing and accessing large volumes of data from diverse sources. By offering standardized access to data in preferred formats, Back-end Data Virtualization enables better data quality and management, leading to improved decision-making and operational efficiency.
Further key findings from the report suggest:
- Based on application, the standalone software application segment is estimated to account for 15.2% of the market share, showcasing a growth rate of 20.2% through 2030. The robust growth can be attributed to benefits offered by the software such as reduced data set governance complexity and high-performance transaction.
- Mobile & web applications is set to register a CAGR of 20.4% through the forecast period. Integration of the technology in mobile and web applications offer quicker and actionable data access, along with the development of backend operations. The rapid proliferation of mobile & web applications is generating high demand for faster access to records, supporting segmental growth.
- The Data Analytics & BI Tools segment accounted for 23.1% of the Back-end Data Virtualization market share 2018 and is estimated to witness a notable CAGR of 22.2% through 2026. The growing adoption of the virtualization tool for analytics & BI Tools applications in organizations to integrate all the sources of information and deliver big data solutions in order to reduce the record warehousing & storage will foster market revenue size.
- Based on organization size, the large enterprise segment is expected to get a market share of 21.2% by 2026. These enterprises are extensively leveraging the technology for their business intelligence tools in order to deal with huge amounts of records every day.
- On the basis of end-use, the banking & financial sector is likely to account for 22.5% of the market revenue share, delivering a CAGR of 22.1% through 2026.
- In the regional landscape, Europe is estimated to witness significant growth rate of 20.1% through 2030.
- APAC is estimated to register the highest growth rate of 24.5% and generate a revenue of USD 2.78 Billion through 2030 due to the large amount of database sources in the Banking & Financial Sectors and expansion of the IT & Telecommunication sector in the region.
- North America accounts for 35.4% of the market share, registering a growth rate of 20.3% through 2030 on account of its financial stability and technological advancement.
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Back-end Data Virtualization is indeed a powerful solution for managing and accessing large volumes of data generated by various sources in different formats and physical locations. It provides a standardized platform that allows organizations to access and integrate data from disparate sources without the need for physical data movement or replication.
The advancement of new technologies and the widespread adoption of digitalization have led to a significant increase in the overall volume of data generated by organizations. Applications such as cloud computing, Internet of Things (IoT), and Software as a Service (SaaS) contribute to this data explosion. As a result, managing and gaining fast access to these diverse data sources becomes a challenging task.
Back-end Data Virtualization addresses these challenges by providing a layer of abstraction that allows users to access data from different sources as if it were stored in a single location. It enables real-time data integration, data federation, and data abstraction, allowing organizations to access and combine data from multiple systems and formats, such as databases, files, web services, and more.
One of the key advantages of Back-end Data Virtualization is that it improves data quality. By accessing and integrating data from its original sources in real-time, organizations can ensure that they are working with the most up-to-date and accurate information. This leads to better decision-making and more reliable insights.
Major Regions Highlighted in the Global Back-end Data Virtualization Market Report:
· North America
o Rest of Europe
· Asia Pacific
o South Korea
o Rest of Asia Pacific
· Latin America
o Rest of Latin America
· Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
Top Companies Profiled in the Report:
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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