Data Integration Market to Hit $29.21 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, Sept. 22, 2022 /PRNewswire/ -- The global data integration market size is expected to reach USD 29.21 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a lucrative CAGR of 11.9% from 2022 to 2030. Data integration solutions and tools are a collection of organizational and technical procedures created to combine data from many sources into understandable and valuable data sets. Data integration solutions are provided through tools like ETL (extract, transform and load), data replication, and data virtualization. These tools enable the extraction of vast volumes of data from source systems and loading those data into a cloud source or an enterprise data warehouse.
Key Industry Insights & Findings from the report:
Read 100-page full market research report, "Data Integration Market Size, Share & Trends Analysis Report, By Component, By Deployment, By Organization Size, By Business Application (Marketing, Sales), By End-user (Retail & E-Commerce), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Data Integration Market Growth & Trends
The end location must be adaptable enough to handle various data types at high volumes. For instance, in February 2022, NAVEX Global, Inc., a compliance management software provider, launched the NAVEX Integration Cloud platform. The new data integration platform would automate risk management workflows and integrate a wide variety of business data in a single comprehensive view in the cloud. With a thorough understanding of automated risk management and streamlined procedures, NAVEX Integration Cloud fulfills the company's goal to offer the world's smartest integrated platform. As a result, enterprises are better able to foresee and mitigate risk.
As data production remains high data integration has become more crucial. Data integration aims to ensure that data is stored and preserved as planned. Moreover, the data set obtained from a data search is desired and anticipated. Data integrity can be aided by maintaining a centralized view of all the data in a single location, such as a data warehouse. In fact, over time, data integration aids in enhancing the accuracy and reliability of data. The quality and integrity of the data can be improved when it is transferred to the central location by data transformation operations, which can also detect data quality problems.
Further, data integration enables manufacturers to fully utilize the value of the data generated from their failities by smoothly integrating information technology with operational technology. For instance, in May 2022, Google Cloud launched manufacturing connect and manufacturing data engine integration platforms for manufacturers. The integration platforms would enable manufacturers to process and standardize data in a single location and provide their staff with simplified analytics and artificial intelligence (AI) solutions based on cloud infrastructure.
Without significant changes to current applications or data structures, well-implemented data integration can lower IT costs, free up resources, enhance data quality, and promote creativity. Although IT firms have always needed to integrate, the benefits may not have previously been as high as they are now due to data integration. Companies with advanced data integration skills have a substantial competitive advantage, including more significant value and insight development with a holistic viewpoint of facts that is easier to examine; operational efficiency was increased by eliminating the need to manually alter and integrate data sources.
Integrating data can assist a company in using information that would otherwise require development. By doing this, companies can boost productivity by enhancing departmental communication, delivering better customer service, streamlining processes, and improving decision-making.
Data Integration Market Segmentation
Grand View Research has segmented the global data integration market based on component, deployment, organization size, business application, end-user, and region:
Data Integration Market - Component Outlook (Revenue, USD Million, 2017 - 2030)
Data Integration Market - Deployment Outlook (Revenue, USD Million, 2017 - 2030)
Data Integration Market - Organization Size Outlook (Revenue, USD Million, 2017 - 2030)
Data Integration Market - Business Application Outlook (Revenue, USD Million, 2017 - 2030)
Data Integration Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)
Data Integration Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players of Data Integration Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc