Growing Demand for Data Integration and Delivery Solution Among Businesses Worldwide Boosting Global Data Mesh Market Growth
Data integration and delivery refer to the procedure and technologies used to combine data from various sources, transforming data, and deliver it to the intended systems or users. The data integration and delivery process consists of cleansing, validation, and enrichment of data by ensuring the reliability and quality of integrated data. This increases the demand among businesses for extracting large amounts of data from their main source. Moreover, data integration and delivery solutions significantly support businesses in extracting insights from their data, making informed decisions, and achieving business objectives, driving the data mesh market growth during the forecast period.
US Dominates Data Mesh Market in North America
The US data mesh market is projected to expand at a significant rate during the forecast period. The market in the US contributes a noteworthy share to the global data mesh market owing to the wide presence of major players such as Microsoft Corp, Amazon Web Services Inc, Alphabet Inc, Oracle Corp, International Business Machines Corp, Salesforce Inc, Hewlett Packard Enterprise Development LP, SAS Institute Inc, and Snowflake Inc. These companies are continuously engaged in developing IoT, AI, and big data analytics tools and technologies to increase their market share and fuel the data mesh market growth. The market players are incorporating these technologies with data mesh strategies to support businesses in managing their own data products, allowing users to make informed decisions, which is expected to fuel the data mesh market growth during the forecast period.
Segmental Overview of Data Mesh Market Report
Based on solution, the data mesh market is categorized into data integration and delivery, federated data governance, data operations, data transformation and orchestration, and others. The data integration and delivery segment recorded the largest data mesh market share in 2022 and is anticipated to hold a significant revenue share during the forecast period. In terms of deployment, the market is divided into on-premise and cloud. The cloud segment anticipated to hold a significant data mesh market share by 2030. In terms of application, the data mesh market is categorized into customer experience engagement, data privacy management, IoT monitoring, and others. The data privacy management segment held the largest data mesh market share in 2022, and the customer experience engagement segment is anticipated to record the highest CAGR during the forecast period. Based on industry vertical, the data mesh market is segmented into BFSI, retail & e-commerce, IT & telecom, healthcare, government and public sector, and others. The BFSI segment held the largest data mesh market share in 2022, and the IT & telecom segment is anticipated to record the highest CAGR during the forecast period.
Data Mesh Market Analysis: Competitive Landscape and Key Developments
Microsoft Corp, Amazon Web Services Inc, Alphabet Inc, Oracle Corp, International Business Machines Corp, SAP SE, Snowflake Inc, K2view Ltd, Denodo Technologies Inc, and Informatica Inc, are among the key data mesh market players that are profiled in the report. Several other essential market players were also analyzed for a holistic view of the market and its ecosystem. The data mesh market forecast can help stakeholders in this marketplace plan their growth strategies. The report provides detailed market insights to help major players strategize their growth.
- In December 2023, International Business Machines Corp’s Cloud Pak for Data team announced the general availability of Cloud Pak for Data (CPD) version 4.8. The updated version of Cloud Pak for Data (CPD) 4.8 focuses on serviceability for enhancing the management and maintenance of the CPD Platform and services. Version 4.8 also offers a wide range of capabilities that provide more information about the platform and proactively ensure a stable environment for CPD production workloads.
- In October 2023, JPMorgan Chase & Co introduced a “Securities Services Data Mesh” solution for institutional investors. The securities service data mesh solution enables investors to retrieve critical investment data by using numerous cloud-native channels such as Snowflake Financial Services Data Cloud, Jupyter notebooks, and REST APIs.
- In September 2023, Oracle Corp and Microsoft Corp expanded their partnership by launching Oracle Database Azure, a new solution that delivers Oracle Database services at Azure data centers. Oracle Database Azure provides users the benefits of direct access to Oracle database services running on Oracle Cloud Infrastructure (OCI) and deployed in Azure datacenters. This provides customers with more flexibility in running and managing their workloads.
- In June 2023, Informatica Inc launched the intelligent data management (IDMC) cloud in Amazon Web Services (AWS) Japan region to support their customers in data-led cloud modernization. The IDMC supports Informatica Inc in accessing, managing, and accelerating data transformation for business insights by complying with the data residency requirements of their customers in the country.
- In March 2023, SAP SE introduced SAP Datasphere, which allows data professionals to deliver seamless and scalable access to mission-critical business data. SAP Datasphere is built on the SAP Business Technology Platform (SAP BTP) and has state-of-the-art data flow capabilities that allow businesses to create pipelines automatically at an enterprise scale.