Portland, OR , Aug. 07, 2022 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Data Virtualization Market by Component (Solution, Services), by Deployment Model (On-premise, Cloud), by Enterprise size (Large Enterprises, SMEs), by End User (IT and telecom, BFSI, Government and Defense, Healthcare and Life Sciences, Retail, Manufacturing, Education, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global data virtualization industry generated $3.2 billion in 2021, and is estimated to reach $22.2 billion by 2031, witnessing a CAGR of 21.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Drivers and Opportunities
Expanding volume of data from various sources across enterprises, the increase in requirement for data integration tools, the rise in demand for advanced visualization technology and increase in investments in visualization platforms and business collaborations drive the growth of the global data virtualization market. However, absence of standards in business data management and high cost and security issues hamper the market growth. On the other hand, increase in demand for cloud-based solutions and increased use of business intelligence software present new opportunities for the market in the coming years.
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