Data Fabric Market Is Estimated To Witness High Growth Owing To Surging Analytics Demand
The Data Fabric market plays a critical role in today's data-driven era, allowing enterprises to securely access and analyze massive amounts of data across disparate data silos. Data Fabric solutions break down data isolation by providing a unified view of data that resides in multiple databases and applications, enabling users to easily discover, understand, trust, and use enterprise data.
The global Data Fabric Market is estimated to be valued at US$ 2.27 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The surging demand for advanced analytics across industries is estimated to propel the growth of the Data Fabric market during the forecast period. Data Fabric allows enterprises to perform advanced analytics such as AI/ML on aggregated data from multiple data sources. It eliminates data accessibility issues by breaking down data silos and providing a centralized platform to access and analyze data. With enterprises increasingly focusing on data-driven decision making, the need for advanced analytics is growing tremendously. Data Fabric being a critical infrastructure for advanced analytics is expected to witness significant adoption across industries in the coming years, presenting lucrative opportunities for players in the Data Fabric market.
Porter’s Analysis
Threat of new entrants: The data fabric market requires a substantial capital investment in research and development as well as large manufacturing capabilities to produce high quality fabrics. This poses a high barrier to entry for new players.
Bargaining power of buyers: Buyers in the data fabric market have moderate bargaining power. While there are many established players, proprietary production technologies create switching costs for buyers.
Bargaining power of suppliers: The raw material suppliers for data fabric have moderate bargaining power due to availability of substitutes and lack of integration among large fabric manufacturers and suppliers.
Threat of new substitutes: Alternatives like epoxy-based laminates provide a substitute, however data fabrics have established themselves as preferred materials due to their characteristics like flexibility and high bandwidth capabilities.
Competitive rivalry: The data fabric market is highly competitive with major players differentiating through continuous focus on R&D to develop advanced fabrics.
SWOT Analysis
Strengths: Data fabrics provide flexibility, reliability, cost benefits and better performance compared to traditional materials. Major players have strong R&D capabilities.
Weaknesses: Significant investments required for new product development and technology upgrades. Fluctuating raw material prices impact profits.
Opportunities: Growing demand for miniaturized consumer electronics drives the need for advanced fabrics. Developing markets in Asia Pacific and Middle East and Africa offer high growth potential.
Threats: Intense competition from alternative materials. Vulnerable to cyclical downturns in the electronics industry. Tariff risks associated with international trade.
Key Takeaways
The global Data Fabric Market is expected to witness high growth over the forecast period driven by exponential growth in data consumption and need for faster transmission in networking systems. North America currently dominates the market due to high technology adoption and presence of key players in the region. The U.S. accounts for the largest share in North America primarily due to increased investments in advanced networking systems by large organizations and data center operators in the country. Asia Pacific is expected to be the fastest growing region on account of rapid infrastructure development in networking and expansion of data centers by hyperscale operators in China and India.
Key players operating in the data fabric market include Nanya PCB, Tripod Technology Corporation, Unimicron Technology Corporation, Ibiden Co. Ltd., Compeq Manufacturing Co. Ltd., TTM Technologies Inc., Kingboard Holdings Limited, Shennan Circuits Company Limited, AT&S Austria Technologie & Systemtechnik AG and Multek (a subsidiary of Flex Ltd.). The major players are focusing on new product introductions through continuous R&D to enhance features of fabrics and meet evolving demands of high-speed networking systems. For instance, Unimicron offers high bandwidth interposer substrate solutions for networking switches and routers based on its proprietary technology.
Get More Insights On This Topic: https://www.ukwebwire.com/data-fabric-market-is-expected-to-be-flourished-by-cloud-deployment/
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