CHICAGO, Jan. 16, 2024 /PRNewswire/ -- Increased usage of data mesh technology is anticipated in the future, with an emphasis on developing specialised tools, integrating cloud services, and adapting best practices. Along with ongoing improvement and integration with DataOps and DevOps processes, a focus on community building, education, and security measures is probably in order.
The Data Mesh Market is projected to grow from USD 1.2 billion in 2023 to USD 2.5 billion by 2028, at a compound annual growth rate (CAGR) of 16.4% during the forecast period, according to a new report by MarketsandMarkets. The Data Mesh Market is expected to grow significantly during the forecast period, owing to various business drivers like the increasing need for data democratization and accessibility, tailored data pipelines driving agility and innovation and increasing adoption of cloud native technologies, and maintaining robust governance and security also responsible for driving the market's growth.
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278 - Tables
67 - Figures
320 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2019-2028 |
Base year considered | 2022 |
Forecast period | 2023-2028 |
Forecast units | USD (Billion) |
Segments Covered | Offering, Approach, Business Function, Application, Vertical, and Region |
Geographies covered | North America, Asia Pacific, Europe, Middle East & Africa, and Latin America |
Companies covered | IBM (US), AWS (US), SAP (Germany), Oracle (US), Informatica (US), K2view (US), Talend (US), Denodo (US), HPE (US), NetApp (US), Teradata (US), Monte Carlo (US), Radiant Logic (US), Snowflake (US), Google (US), Microsoft (US), Global IDs (US), Estuary (US), DataKitchen (US), Databricks (US), Cinchy (Canada), Intenda (Netherlands), Atacama (Canada), Alation (US), Collibra (US), Dremio (US), Starburst (US), Nexla (US), NextData (Australia), Hevo Data (US), Atlan (US), CluedIn (Denmark), Iguazio (Israel) and Alex Solutions (Australia). |
By solution, Data Integration and Delivery segment to register for the largest market size during the forecast period.
By solutions, data integration and delivery segment is expected to register the largest market size during the forecast period. Companies are increasingly embracing decentralized architectures, where data is treated as a product and managed by domain-specific teams. This shift has spurred the demand for tools and platforms that support seamless integration, governance, and delivery of data across diverse domains. Latest trends indicate a focus on scalable and self-serve data infrastructure, enabling teams to access and utilize data more efficiently.
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By services, managed services to register for the highest CAGR during the forecast period.
The services segment of the Data Mesh Market is growing rapidly. The managed services are vital in properly functioning data mesh solutions. The data mesh industry is experiencing a growing demand for managed services. As organizations increasingly adopt decentralized data architectures, the demand for managed services tailored to data mesh principles has surged. Managed services providers are now offering specialized solutions focusing on enabling, maintaining, and optimizing data mesh environments.
By region, Asia Pacific accounted for highest growth rate during the forecast period.
Asia Pacific is witnessing significant growth in Data Mesh Market. Companies across Asia Pacific are increasingly adopting data mesh principles to navigate complex data ecosystems. Key trends shaping this landscape include heightened emphasis on localized data governance frameworks tailored to diverse regulatory landscapes within Asia Pacific countries. There's a notable surge in demand for solutions that offer seamless integration of data across diverse domains while ensuring compliance with stringent data privacy laws prevalent in the region.
Top Key Companies in Data Mesh Market:
Some major players in the Data Mesh Market include IBM (US), AWS (US), SAP (Germany), Oracle (US), Informatica (US), K2view (US), Talend (US), Denodo (US), HPE (US), NetApp (US), Teradata (US), Monte Carlo (US), Radiant Logic (US), Snowflake (US), Google (US), Microsoft (US), Global IDs (US), Estuary (US), DataKitchen (US), Databricks (US), Cinchy (Canada), Intenda (Netherlands), Atacama (Canada), Alation (US), Collibra (US), Dremio (US), Starburst (US), Nexla (US), NextData (Australia), Hevo Data (US), Atlan (US), CluedIn (Denmark), Iguazio (Israel) and Alex Solutions (Australia).
Recent Developments:
- In December 2023, IBM Cloud Pak for Data team announced the general availability of Cloud Pak for Data (CPD) version 4.8. The release includes an array of features tied together with an emphasis around serviceability enhanced the management and maintenance of CPD Platform and services. These serviceability improvements provide more information about the platform to proactively ensure a stable environment for CPD production workloads.
- In September 2023, Oracle and Microsoft have announced Oracle Database at Azure, which gives customers direct access to Oracle database services running on Oracle Cloud Infrastructure (OCI) and deployed in Microsoft Azure datacenters.
- In June 2023, Informatica announced the availability of the company's leading end-to-end AI-powered data management platform Intelligent Data Management Cloud (IDMC) in AWS Asia Pacific (Tokyo) region to support customers in their data-led cloud modernization journey.
- In April 2023, Siemens and IBM announced to expand their long-term partnership by collaborating to develop a combined software solution. The new software solution integrate their respective offerings for systems engineering, service lifecycle management and asset management.
- In March 2023, SAP announced SAP Datasphere, a comprehensive data service built on SAP Business Technology Platform (SAP BTP) that enables every data professional to deliver seamless and scalable access to mission-critical business data. State-of-the-art data flow capabilities allow organizations to automatically generate pipelines at enterprise scale. We also enriched the business semantic layer with advanced modeling capabilities.
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Data Mesh Market Advantages:
- Decentralised data ownership is encouraged by Data Mesh, which gives individual teams or domains the ability to own and manage their own data. This may result in more responsibility and accountability, which will promote a culture of data ownership throughout the company.
- Organisations may be able to achieve more scalability and agility by dividing up data responsibilities across various teams or domains. Teams may create, implement, and grow their data solutions autonomously, which eliminates dependencies and bottlenecks.
- Data Mesh dismantles silos to promote cross-functional cooperation. In order to create and manage data products, several teams-including data scientists, data engineers, and domain experts-can collaborate, encouraging a more comprehensive and cooperative approach to data.
- The development of domain-oriented data products is emphasised by the Data Mesh idea. This implies that data solutions are created to address the unique requirements and circumstances of distinct business sectors, resulting in data products that are more useful and pertinent.
- Traditional centralised data architectures can lead to bottlenecks and delays in data delivery. By dividing up data tasks, Data Mesh seeks to alleviate these bottlenecks and facilitate quicker data product creation, implementation, and iteration.
- A focus on domain-level governance and data quality follows from decentralised ownership. Teams are more likely to manage and prioritise data quality within their domains, which improves data quality throughout the organisation as a whole.
Report Objectives:
- To define, describe, and predict the Data Mesh Market by offering (solutions, services, and solutions by deployment mode), business function, approach, application, vertical and region
- To provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
- To analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Data Mesh Market
- To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
- To forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
- To profile key players and comprehensively analyze their market rankings and core competencies
- To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Data Mesh Market
- To analyze the impact of recession across all the regions across the Data Mesh Market
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