The data virtualization software and solutions deployed in the cloud or on-premises empower organizations to reduce operational costs, and offer benefits, such as ease of use, easier deployment, and higher scalability. MarketsandMarkets expects the data virtualization size to grow from USD 1.58 Billion in 2017 to USD 4.12 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period. An increasing need for data virtualization solutions, automation, need to access large volumes of data stored across various systems to get a consolidated view, reducing infrastructure costs, increasing need to gain business insights, real-time availability of data, and an increasing demand for data integration software tools are some of the major growth drivers for the data virtualization market.
Major vendors in the global data virtualization market are International Business Machines Corporation (IBM; US), SAP SE (Germany), Informatica (US), Denodo Technologies (US), Oracle Corporation (US), TIBCO Software (US), Microsoft Corporation (US), Red Hat (US), SAS Institute (US), and Information Builders (US). New product launches and partnerships are key growth strategies adopted by these market players to offer feature-rich products and services to their customers and to penetrate deeper in the unserved regions.
IBM is one of the leading vendors of the data virtualization solutions. The company follows inorganic growth strategy such as partnerships to enhance its products and solutions offerings in the data virtualization market. For instance, in March 2017, IBM formed a partnership with Salesforce to offer a solution by integrating capabilities of IBM Watson and Salesforce Einstein to help accelerate decision-making process by combining data from internal and external sources. IBM also launched a new product, IBM Spectrum Protect Plus, to help organizations meet requirements of real-time availability of data.
Another market-leading company, Denodo Technologies adopted the inorganic growth strategy such as partnerships to gain a dominant position in the data virtualization market. For instance, in February 2017, Denodo partnered with Semarchy to enhance its capabilities on various fronts such as marketing, sales, research, and partner development. Apart from that, expansion can be seen as a significant strategy that Denodo has been following. For instance, in August 2017, the company opened a new office in Singapore to cater to the growing demands for data virtualization technology in APAC.
Data Virtualization Market by Component (Standalone Software, Data Integration Solution, Application Tool Solution), Deployment Mode (Cloud and On-Premises), Data Consumer, Enterprise Size, End-User, and Region - Global Forecast to 2022
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