The global Data
Integration Market size to grow from USD 11.6 billion in 2021 to USD 19.6
billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.0% during the
forecast period according to report published by MarketsandMarkets.
Various
factors such as rise in big data technologies and cloud computing technologies,
increasing amount of on-cloud data and incapability of traditional data
management tools are expected to drive the adoption of data integration
solutions and services.
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The
services segment to hold higher CAGR during the forecast period
Based on components, the data integration market is
segmented into software and services. The services segment has been further
divided into professional and managed services. These services play a vital
role in the functioning of data integration, as well as ensure faster and
smoother implementation that maximizes the value of the enterprise investments.
The growing adoption of data integration is expected to boost the adoption of
professional and managed services. Professional service providers have deep
knowledge related to the products and enable customers to focus on the core
business, while MSPs help customers improve business operations and cut expenses.
The
marketing business application to hold the largest market size during the
forecast period
With the advent of IoT and mobile technologies, the massive
amount of data (big data in most cases) has compelled marketers to deploy tools
and practices that can help them make sense of this data. Data integration
supports this requirement by providing marketers a platform to consolidate the
data captured from various sources into a useful format ready for analysis.
Data integration enables marketers to integrate all their data collected from
different marketing channels and feed it into an analysis tool that can analyze
and extract relevant information for them. By using data integration tools,
marketers can develop a customer-centric view and target their marketing
efforts more precisely instead of dealing with different marketing channels
against channel-specific metrics.
Healthcare
and life sciences segment to have the largest market size during the forecast
period
The
data integration market by vertical has been categorized into banking,
financial services, and insurance, retail and consumer goods, media and
entertainment, IT and telecom, healthcare and life sciences, Government and
defense, energy and utilities, and manufacturing. The healthcare and life
sciences vertical is expected to have the largest market size during the
forecast period.
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APAC to
hold higher CAGR during the forecast period
The data integration market has been segmented into five
major regions: North America, Europe, APAC, Latin America, and MEA. APAC is
expected to grow at a good pace during the forecast period. The region will be
booming, as it is experiencing a lot of new entrepreneur setups, which would be
looking forward to acquiring new customers and gaining customer trust by
involving new paradigms of advanced analytics to have a competitive advantage
over the established players. China, India, and Japan have displayed ample
growth opportunities in the data integration market.
Top Key Players:
The
major vendors in the global data integration market include IBM(US),
Microsoft(US), SAP(Germany), Oracle(US), SAS Institute(US), Talend(US),
Informatica(US), Precisely(US), Software AG(Germany), Salesforce(US), Qlik(US),
and Tibco(US).
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