The ‘Global Data Integration Market Size, Share, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global data integration market, assessing the market on the basis of its segments like components, deployment modes, organisation size, applications, end users, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Data Integration Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
o Historical Market Size (2022): Nearly USD 12.15 Billion
o Forecast CAGR (2023-2028): 11.90%
o Forecast Market Size (2028): Around USD 23.85 Billion
There is a growing preference for cloud-based data integration solutions as they increase processing speed, reduce costs associated with general and financial operations, and synchronise data. These solutions also support businesses to improve their visibility and connectivity, boost their competitive edge, and offer better customer support and services.
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In the financial sector, the adoption of cloud-based data integration software is rapidly surging as it protects customers’ integrity, enables customers to make informed loan decisions, and ensures regulatory compliance.
Some of the key data integration market drivers include surging investments in data integration services by small and medium-sized enterprises, the increasing focus to streamline business analytics, and the rising applications of data science. Moreover, businesses are attempting to reduce error chances, enhance their competitiveness, and surge overall efficiency, hence boosting the adoption of data integration solutions.
Data Integration Industry Definition and Major Segments
Data integration refers to a process that combines data into a unified and single view. It enables analytics tools to produce actionable and effective business intelligence while improving the unification of systems and collaborations. It increases the operational efficiency of businesses and offers data-driven business insights.
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The data integration market, on the basis of components, is categorised into:
o Professional Services
o Managed Services
Based on deployment mode, the market is divided into:
The various organisation sizes in the market are:
o Large Enterprises
o Small and Medium Enterprises
By application, the market is segmented into:
o Operations and Supply Chain
o Human Resource
The market can be broadly classified on the basis of end users into:
o IT and Telecom
o Retail and Commerce
o Government and Defence
The major regional markets of data integration include:
o North America
o Asia Pacific
o Latin America
o Middle East and Africa
Data Integration Market Trends
Small and medium organisations are increasingly spending on cloud-based solutions and automation to enhance business profitability and improve productivity. Moreover, the surging awareness regarding the cost-effectiveness of cloud-based data integration services is boosting their adoption.
The increasing trend of automation, the rising integration of artificial intelligence (AI) and machine learning (ML), and the surging attempts by improving marketing or product lines by enterprises are fuelling the market. Organisations are also using data integration solutions to collect information, track customer purchasing power, and create an automatic workflow.
The data integration market is expected to benefit from the surging data volumes in several end-use sectors, rapid digitalisation, the shift towards automated data storage techniques, installations of sensors in various manufacturing machines and industrial equipment, and advancements in the industrial sector in the coming years.
Key Market Players
The major players in the data integration market report are:
o IBM Corporation
o Informatica, Inc
o Microsoft Corporation
o Oracle Corporation
o SAP SE
o SAS Institute Inc
o TIBCO Software Inc
o Denodo Technologies, Inc
o Qliktech International AB
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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