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$15.92 Billion Global Data Fusion Market Report 2018-2022 - Rapid Adoption of Data-Driven Decision-Making is Driving the Market
DUBLIN, March 14, 2018 /PRNewswire/ --
The "Data Fusion Market by Business Function (IT, Sales and Marketing, Operations, Finance, and HR), Component (Tools and Services), Deployment Model (On-Premises and On-Demand), Organization Size, Industry, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
It is estimated that the global data fusion market will grow from USD 7.62 billion in 2017 to USD 15.92 billion by 2022, at a CAGR of 15.9% during the forecast period.
The data fusion market has grown rapidly due to the transition from traditional techniques of data management, such as data warehouse, to advanced data management techniques along with the enormous adoption of data-driven decision-making across industry verticals. However, high-investment costs and fluctuations in regulatory policies are expected to limit the market growth.
Several organizations have evolved their Information Technology (IT) monitoring tools to gain more visibility into their data. Although with the right tools, early detection of issues before their arrival could be accomplished. Data fusion enables big data from IT to integrate and convert into relevant and actionable insights for a rapid problem resolution. It enables organizations to extract insights from the key operational data types, such as log files, performance metrics, events, and trouble tickets, so that they could proactively avoid outages, achieve a faster meantime to repair, and reduce cost through greater operational efficiency. Hence, the IT business function is estimated to have the largest market share in 2022.
Data fusion solutions have been deployed across various industry verticals, including Banking, Financial Services, and Insurance (BFSI), telecom and IT, retail and consumer goods, manufacturing, healthcare and life sciences, energy and utilities, transportation and logistics, media and entertainment, government and defense, and others (travel and hospitality, and academia and research). The media and entertainment industry vertical is expected to witness the highest CAGR during the forecast period. This is attributed to ease in various manual processes provided through data fusion solutions by maintaining and collecting records, which helps boost the operational efficiency by maximizing the route operations and utilizing the workforce appropriately.
Followed by Europe, North America is expected to continue being the largest revenue generating region for the data fusion vendors for the next 5 years. This is majorly due to the presence of various developed economies, such as Canada and the US, and because o the high focus on innovations through Research and Development (R&D) and technology across industry verticals. Asia Pacific (APAC) is expected to be the fastest-growing region in the data fusion market, owing to the increase in adoption of Internet of Things (IoT), smart technologies, and government initiatives, such as smart cities in APAC countries, including China and India.
Market Dynamics
Drivers
- Rapid Adoption of Data-Driven Decision-Making
- Introduction of IIoT
Restraints
- High Investment Costs
- Varying Structure of Regulation Policies
Opportunities
- Higher Adoption of Data Fusions Tools and Services Among SMEs
- The Need to Create Insights From Unused Data
Challenges
- Managing and Maintaining Data Quality
- Lack of Skilled Workforce
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Data Fusion Market
4.2 Market By Region
4.3 Market By Industry and Region
4.4 Market Professional Services, By Region
5 Market Overview and Industry Trends
5.1 Market Overview
5.1.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rapid Adoption of Data-Driven Decision-Making
5.2.1.2 Introduction of IIoT
5.2.2 Restraints
5.2.2.1 High Investment Costs
5.2.2.2 Varying Structure of Regulation Policies
5.2.3 Opportunities
5.2.3.1 Higher Adoption of Data Fusions Tools and Services Among SMEs
5.2.3.2 The Need to Create Insights From Unused Data
5.2.4 Challenges
5.2.4.1 Managing and Maintaining Data Quality
5.2.4.2 Lack of Skilled Workforce
5.3 Industry Trends
5.3.1 Pillars of Data Fusion
5.3.1.1 Analysis and Fusion
5.3.1.2 Security and Privacy
5.3.1.3 Collaboration and Information Sharing
5.3.2 Data Fusion Market: Use Cases
5.3.2.1 Introduction
5.3.2.2 Use Case 1: Disaster Response
5.3.2.3 Use Case 2: Cybersecurity
5.3.2.4 Use Case 3: Predictive Maintenance
6 Data Fusion Market, By Business Function
6.1 Introduction
6.2 Information Technology
6.3 Sales and Marketing
6.4 Operations
6.5 Finance
6.6 Human Resources
7 Data Fusion Market, By Component
7.1 Introduction
7.2 Tools
7.3 Services
7.3.1 Professional Services
7.3.1.1 Consulting
7.3.1.2 Support and Maintenance
7.3.1.3 Deployment and Integration
7.3.2 Managed Services
8 Market By Deployment Model
8.1 Introduction
8.2 On-Premises
8.3 On-Demand
9 Market By Organization Size
9.1 Introduction
9.2 Large Enterprises
9.3 Small and Medium-Sized Enterprises
10 Data Fusion Market, By Industry
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Telecom and IT
10.4 Retail and Consumer Goods
10.5 Healthcare and Life Sciences
10.6 Manufacturing
10.7 Government and Defense
10.8 Energy and Utilities
10.9 Transportation and Logistics
10.10 Media and Entertainment
10.11 Others
11 Data Fusion Market, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Latin America
11.6 Middle East and Africa
12 Competitive Landscape
12.1 Overview
12.2 Competitive Scenario
12.2.1 New Product Launches and Product Upgradations
12.2.2 Partnerships and Collaborations
12.2.3 Acquisitions
12.2.4 Business Expansions
12.3 Data Fusion Market: Prominent Players
13 Company Profiles
13.1 Thomson Reuters
13.2 AGT International
13.3 ESRI
13.4 Lexisnexis
13.5 Palantir Technologies
13.6 Cogint
13.7 Invensense
13.8 Clarivate Analytics
13.9 Merrick & Company
13.10 Inrix
13.11 Key Innovators
13.11.1 Konux
13.11.2 Signafire
For more information about this report visit https://www.researchandmarkets.com/research/s7ckk2/15_92_billion?w=5
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