The Rise of Data Mesh Market: A $4.27 Billion Industry Dominated by Tech Giants - SAP SE, Microsoft Corp, Alphabet Inc and Oracle Corp | The Insight Partners
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The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the data mesh market comprises a vast array of solution, deployment, application, and industry vertical which are expected to register strength during the coming years.
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Market Overview and Growth Trajectory:
Data Mesh Market Growth: According to an exhaustive report by The Insight Partners, the Data Mesh Market is experiencing significant growth, driven by unlocking fine-grained supervision for data governance and integration with cloud-native technologies. The market, valued at $1.28 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.3% during 2023–2031.
The global data mesh market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth can be accredited to numerous factors. Firstly, growing demand for democratization among businesses. Many businesses across the world are dismantling conventional methods of storing large data by creating an atmosphere to freely access, understand, and use specific data and responsibilities. This democratized approach facilitates faster decision-making by enabling instant access to contextualized and real-time data and encourage collaboration among teams and businesses.
Unlocking Fine-Grained Supervision for Data Governance and Integration with Cloud-Native Technologies: The federated computational governance context makes it possible to establish federated data ownership to ensure the security, quality, and privacy of data. This context is used by domain-specific experts rather than a central governing body for appropriately managing the large amount of data in a specific domain of an organization, including marketing & sales, human resources, finance & accounting, research & development, and others.
Increasing Need for Federated Computational Governance: Key players are focusing on creating awareness related to the benefits provided by data mesh solutions and the implementation of federated computational governance using Open Policy Agent (OPA) and policy-as-code. This provides organizations an insight into their data and supports them in scaling up without creating bottlenecks. Additionally, decentralized governance architecture supports the investigation of novel data use cases, stimulating data-driven decision-making, fostering the quick prototyping of new ideas, and increasing the use of federated computational governance frameworks among organizations across the globe.
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Demand for Domain-Oriented Data Architecture: Domain-oriented data architecture (DODA) enables domain teams to assume complete responsibility for their data, including collection, storage, processing, and sharing, bringing data management closer to domain expertise. This approach encourages teams to prioritize data quality, usability, and value for consumers, which increases the adoption among data scientists and engineers to improve the quality, relevance, and usability of data products by saving time.
Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. North America is expected to register the highest CAGR during the forecast period.
Data Mesh Market Segmentation, Applications, Geographical Insights:
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Key Players and Competitive Landscape:
The Data Mesh Market is characterized by the presence of several major players, including:
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
Data Mesh Market Recent Developments and Innovations:
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Data Mesh Market Drivers, Challenges, Future Outlook and Opportunities:
Data integration and delivery refers 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 consist 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.
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.
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Conclusion:
The data mesh architectural framework provides greater governance practices by enforcing data standards for domain-agnostic data and access controls for sensitive information. This guarantees that firms follow government requirements, such as Health Insurance Portability and Accountability Act (HIPPA) limits, and the data ecosystem's structure facilitates compliance by enabling data audits. Log and trace data in a data mesh architecture introduces observability into the system, allowing auditors to determine which users are accessing specific data and at what frequency. This also supports businesses to know the real-time status of their department's data. The increasing investment in AI, ML, IoT, and big data analytics tools and technologies is driving the data mesh market. Moreover, the rising adoption of data integration and delivery solutions among consumers worldwide is expected to create opportunities for the data mesh market growth during the forecast period.
With projected growth to $4.27 billion by 2031, the Data Mesh Market represents a significant opportunity for component providers, system technology integrators, investors, system manufacturers, and industry stakeholders. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.
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