Kenneth Research, in its repository of market research reports, has recently added a report on Data Integration Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Data Integration Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data Integration Market products.
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The Global Data Integration Market was valued at USD 5.77 billion in 2016 and is projected to reach USD 18.60 billion by 2025, growing at a CAGR of 13.88% from 2017 to 2025.
Data integration is the process of retrieving data from multiple source systems and combining it in such a way that it can yield consistent, comprehensive, current and correct information for business reporting and analysis. The source systems may be various types of devices and the data may be in a variety of formats. Data integration plan help enterprises to have several benefits including – reduced data complexity, increase the value of data through unified systems, make data more available, easy data collaboration, and data integrity.
1. Market Drivers
1.1 Growing usage of self-service data integration
1.2 Increasing demand for open source data integration tools
1.3 Incorporation of cloud computing to create a demand for effective data integration tools and practices
1.4 Rising demand for tools that can combine heterogeneous data sources
2. Market Restraints
2.1 Poor adoption of high-end ETL tools
2.2 Upgraded data integration framework required to incorporate big data platforms
2.3 Lack of standardization in enterprise data integration and management strategy
2.4 Lack of technical expertise
2.5 Implementation issues between modern data integration requirements and legacy systems
The Global Data Integration Market is segmented on the business application, organization size, component, deployment model, vertical, and region.
1. Business Application:
2. Organization Size:
2.1 Large Enterprises
2.2 Small and Medium Organizations
3. By Component:
4. By Deployment Mode:
5. By Vertical:
5.2 Government and Defense
5.3 IT and Telecom
5.4 Banking, Financial Services, and Insurance (BFSI)
5.5 Energy and Utilities
5.6 Retail and Consumer Goods
5.7 Media and Entertainment
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6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Oracle Corporation
2. IBM Corporation
3. SAP SE
4. Information Builders
5. Microsoft Corporation
7. Denodo Technologies
8. SAS Institute Inc.
10. HVR Software
11. Pitney Bowes Inc.
12. Actian Corporation
13. Cisco Systems, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Data Integration Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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