The global market for data virtualization cloud is expected to reach approximately US$ 1,139 million in net value in 2023. According to FMI’s market projections, the whole market will grow at a rate of 25.2% from 2023 to 2033. Following this remarkable CAGR, the market’s net worth is predicted to reach US$ 10,778.7 million in the next ten years.
The industry is likely to retain its profitable growth rate in the next few days, thanks to the rising use of IaaS for technology platforms. Multi-cloud deployment techniques are becoming more common as more organizations strive to strengthen their IT foundations to keep up with digital disruption.
Using a virtualized architecture, business intelligence, and analytics ecosystems become more robust and easier to manage. The cost savings from public data virtualization cloud solutions are substantial, especially when compared to the original CAPEX investments for traditional IT infrastructure. Serverless computing and service meshes are also predicted in a congested cloud-centric development environment. Because of their limited IT budgets, SMEs want cloud services and products that are highly cost-effective.
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The data virtualization cloud market has been studied in over 20 countries throughout North America, Europe, South Asia and Pacific, Latin America, East Asia, and MEA, according to FMI’s analysis. According to FMI’s poll results, 6 out of 10 businesses plan to rely on public data virtualization cloud solutions during the next decade. The favorable regulatory climate in Europe is supporting the region’s data virtualization cloud market.
Companies are expected to require robust cloud services that provide machine learning (ML) options as Artificial Intelligence (AI) becomes a company repertoire. However, as breakthrough AI techniques such as generative adversarial networks and deep reinforcement learning reduce the amount of training required, the tendency may shift.
Key Takeaways from the Data Virtualization Cloud Market Study Report
- The United States is the leading region in the development and provisioning of data virtualization cloud services. By contributing a market share of more than one quarter it is expected to remain very lucrative during the forecast years as well.
- Meanwhile, Asia Pacific economies are witnessing a robust growth rate owing to the rapidly expanding services market and sector.
- By the year 2033, the deployment of public data virtualization cloud solutions is expected to be valued at around US$ 5.6 billion.
- Accounting for about a third of the total market value, the BFSI industry is poised to remain a key end-user of data virtualization cloud solutions through 2033.
- Capturing slightly over 50% of overall market revenue, business intelligence or BI tools are expected to remain the primary data consumer, says FMI’s report.
- Procuring more than half of the total market stack, the standalone segment is expected to be a key component in virtualized data center architecture for the cloud.
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Competitive Landscape for the Data Virtualization Cloud Market Players
IBM Corporation, Denodo Technologies, Informatica Inc., Oracle Corporation, SAP, Tibco Software, Microsoft Corporation, Datometry, and VMware, Inc. among others are some of the major players in the global data virtualization cloud market.
Hyper-scale worldwide public cloud giants might create more collaborations while refocusing on key strengths. On the other hand, cloud model companies are anticipated to shift their focus toward security after a well-publicized public cloud data breach.
Key Segments Covered by the Data Virtualization Cloud Industry Analysis Report
Market Segments by Component:
- Standalone Software
- Data Integration Tools
- Application Tool Solution
- Other Components
Industry Segments by Data Consumer:
- Business Intelligence Tools
- Enterprise Applications
- Mobile and Web Applications
- Other Consumers
Market Segments by Deployment Model:
- Public Cloud
- Hybrid Cloud
- Private Cloud
- Multi-Cloud
Market Segments by End-use Industry:
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom Industry
- Retail and e-Commerce Industry
- Government and Defense Industry
- Healthcare Industry
- Manufacturing Industry
- Other Industries
Market Segments by Regional Outlook:
- North America (United States, Canada)
- Latin America (Brazil, Mexico)
- Europe (Germany, United Kingdom, Russia, France, Italy)
- South Asia & Pacific (India, ASEAN, and Oceania)
- East Asia (China, Japan, and South Korea)
- Middle East & Africa (MEA) (Turkey, GCC Countries, and South Africa)
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