USD 12.22 billion
Report ID:
SQMIG45C2037 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
59
|Figures:
77
Data Integration Market size was valued at USD 15.74 Billion in 2023 and is poised to grow from USD 17.86 Billion in 2024 to USD 43.36 Billion by 2032, growing at a CAGR of 13.5% during the forecast period (2025-2032).
Data integration can be referred as the process of merging data from various sources into a single and centralized view. The processes that are involved in data integration are integration are transformation, cleansing, extract, transform, and load mapping. The analytics solutions can also provide useful business intelligence with the help of data integration. Data integration develops a central, single view of a company’s data. This data can be easily accessed by business intelligence application so that they can deliver actionable insights depending on the data assets, irrespective of the source or format. Moreover, a data warehouse is developed from the massive source of information created by the integration procedures. Businesses are gradually understanding that the only practical method to increase the capability of data is by integrating it. Businesses can easily locate and apply the most relevant and accurate information when they have all the required insights in one location. Their potential to tactfully incorporate these insights into their business operations provides them with a competitive edge in the market. Therefore, for businesses to compete in the modern economy, integrated data exposes a layer of connectivity. Companies can accomplish data consistency and seamlessly transfer knowledge by connecting and integrating systems that store crucial data in various departments and locations. It is a great advantage to the firm, encouraging intersystem collaboration for a full view of the organization.
Global Market Size
USD 12.22 billion
Largest Segment
Tools
Fastest Growth
Tools
Growth Rate
13.5% CAGR
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Global Data Integration Market is segmented on the basis of component, deployment, organization size and region. By component, the market is segmented into tools, services, professional services, and managed services. By deployment, the market is segmented into cloud and on-premises. By organization size, the market is segmented into large and small & medium. By business application, the market is segmented into marketing, sales, operations, finance, and HR. By vertical, the market is segmented into BFSI, retail and consumer, media and entertainment, manufacturing, energy and utilities, telecom and IT, healthcare and life sciences, Government and defense. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Data Integration Market Analysis by Deployment Model
Based on the deployment model, the on-premises segment is dominating the industrial sensor market with the largest revenue. The high share can be attributed to on-premises data integration software abilities to combine data regardless of its structure, type, and volume from numerous on-premises sources that handle integrations using in-house software. The software consists o a data replication tool that keeps track of the data consistency across the cloud and local network. The data from various on-premises software systems could be unified with the aid of on-premises data integration solutions. The location for an on-premises data integration system is one of the company's physical offices. In August 2022, Equalum Ltd., a data integration platform provider, raised USD 14 million in a series C funding round.
Based on deployment model, the cloud segment is witnessing the fastest growth in the data integration market. The cloud platforms' main objective is to create centralized data stores that all applications and users can access transparently and efficiently. Cloud data integration refers to technology and tools interconnecting several systems, IT environments, repositories, and applications for real-time data exchange. It consists of uniting different data from multiple systems where the endpoint is a cloud source, like Google Cloud and Oracle Cloud. The cloud deployment of data integration software helps transform, consolidate, and clean the data to give the users a view of all essential interactions. Further, the technology allows installers to connect to cloud data warehouses, SaaS applications, and data lakes and integrate the data from these various sources into a uniform view for businesses.
Data Integration Market Analysis by End Use
Based on end use, the IT & Telecom sector is dominating the data integration market with maximum market share. With the help of data integration, IT & telecom sectors could quickly bring together data from internal databases, customer records, and third-party systems. This would help evaluate data quality and recommendations for resolving issues that are driving the segment's growth. In addition to personalizing client interactions and automating proactive services at scale, it will increase agent productivity. The banking, financial services, and insurance segment is expected to showcase significant growth over the forecast period. The massive amount of data generated daily by financial institutions is increasing the demand and driving the segment's growth. With data integration, banks can track the customer journey and better understand how interactions with tellers, call center agents, websites, and other branch employees affect customers' decisions to use financial services. Financial services organizations can get a complete view about their customer's demands.
Based on end use, the healthcare sector is witnessing the fastest growth in the data integration market. Gaining a thorough understanding of a person's health and achieving better patient outcomes gets more and more challenging as the number of healthcare data sources and data kinds rises.
In the healthcare industry, data integration is essential as massive data integration can save costs by identifying fraud and unnecessary misuse, uncovering disease prevention strategies, lowering the number of incorrect diagnoses, introducing more individualized care, and limiting the number of overdiagnoses. For instance, in August 2022, the MINISTRY OF HEALTH OF the REPUBLIC OF INDONESIA launched SATUSEHAT. It is a data integration platform in Jakarta that will help in digital transformation in the healthcare industry. The platform can provide standardized formats, data exchange protocols, and health data integration. Furthermore, it would help doctors easily study patients' health issues and achieve better outcomes. They would also digitally record the patient's data so patients would not need to bring their physical medical records.
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North America is dominating the data integration market with the largest market share. Developed countries like Canada and the U.S. drive the market's growth. With the increased adoption of digital strategies, the region is moving towards upgraded and innovative technologies. Growing technological advancements in the area are essential factors promoting market expansion in North America. The rising number of global data integration businesses will aid the expanding market. In August 2022, Software AG acquired StreamSets. The objective of this acquisition is to build, deploy, design, and operate smart data pipelines. The acquisition will also allow Software AG to enter the cloud data integration segment, which would help the company increase its product portfolio offerings.
The Asia Pacific region is witnessing the fastest growth in the data integration market. The leading players in the APAC data integration market are focusing on growing their product portfolios, rising investments, and strategic partnerships to create both easy and robust functionality. Along with this, several initiatives were implemented, and it is anticipated that the industry will expand as e-commerce trade in the region continues to rise. In July 2022, Boomi, LP. a data integration platform provider, expanded its offerings for cloud data integration in Japan. The company invested in Japan's market to meet the increasing demand for business automation and data integration solutions which would scale the company's business for customers across the region.
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Data Integration Market Drivers
Increasing Use of Internet of Things
Increasing Demand for Customer 360 View
Restraints
Lack of Skilled Employees
Growing Concern about Data Privacy
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Nowadays, businesses are mostly dependent on strong data integration solutions to smoothen operations. Many companies are using analytics solutions and data science to manage their data assets efficiently. This is primarily done through data warehouses and cloud-based software. These systems allow automating processes such as fraud detection and data enrichment, offering better accuracy and reliability. With the help of software tools and consulting services, organizations can smoothly integrate various platforms. It helps them to improve enterprise analytics and enable business automation. Furthermore, enhanced technical support and training assists the data integration platforms and cloud data integration services to operate smoothly.
Data Integration Market Top Player’s Company Profiles
Data Integration Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global data integration market is growing as key players are pursuing product development and strategic alliances to extend their product portfolios and achieve a strong foothold in the global market. To expand their offers in the market, data integration solution suppliers have used various inorganic and organic growth tactics, such as product upgrades, new product launches, agreements and partnerships, business expansions, and mergers & acquisitions. Increasing collaborations and mergers & acquisitions are expected to maximize the environmental and economic benefits for the market players by enabling them to share ideas and enhance their technologies and internal skills.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.87 billion |
Market size value in 2031 | USD 38.20 billion |
Growth Rate | 13.5% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Data Integration Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Integration Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Integration Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Integration Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45C2037
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