BFSI Segment to dominate Middle East & Africa Data Fabric Market during 2020–2028

According to a new market research study on “Middle East & Africa Data Fabric Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment, Component, Solution, and End-user,” is expected to reach US$ 116.65 million by 2028 from US$ 75.64 million in 2021. The market is estimated to grow at a CAGR of 6.4% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa data fabric market along with the drivers and restraints pertaining to the market growth. Prospering number of internet users, boosting adoption of cloud platforms, and fostering demand for real-time analytics are the major factor driving the growth of the Middle East & Africa data fabric market. However, surging security and privacy concerns hinder the growth of Middle East & Africa data fabric market.

Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are the leading countries that faced the economic effects of COVID-19 in the Middle East & Africa region in 2020. It is becoming apparent with the COVID-19 pandemic spreading through the countries mentioned above that few can avoid its effects, posing significant challenges for all sectors, including food & beverage, retail, and medical systems. Further, many small and medium-sized enterprises (SMEs) in many Middle East states face challenges in running the business. The adoption of advanced technologies such as IoT and cloud is also quite high especially in countries such as the UAE. The demand for digitalization is growing at an impressive pace in this region and thus it is expected to offer ample growth opportunities for data fabric market in the coming years. Further, the software industry is not affected as other industries since businesses allowed their employees to work from home. Due to work from home facility, have resulted in the rise of quantity and variety of business data, the rise in need for business agility and data accessibility, and increasing demand for business analytics, contributing to the positive growth of the data fabric market in the region.

The Middle East & Africa data fabric market is segmented on the basis of deployment, component, solution, end-user, and country. Based on deployment, the market is bifurcated into cloud and on-premises. In 2020, cloud segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on component, the market is bifurcated into software and services. In 2020, software segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on solution, the market is segmented into data discovery, data ingestion, data orchestration, fabric data access, data management, and fabric management. In 2020, data management segment held the largest share in the market, and fabric management is expected to be the fastest growing segment during the forecast period. Based on end-user, the market is segmented into BFSI, IT & telecom, retail, power and utilities, healthcare & pharmaceuticals, and others. In 2020, BFSI segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Similarly Based on country the market is segmented into Saudi Arabia, the UAE, South Africa, and Rest of MEA. In 2020, the UAE held the largest share in the market and Saudi Arabia is expected to be the fastest growing country during the forecast period.

Denodo Technologies; IBM Corporation; Informatica LLC; NetApp, Inc.; Oracle Corporation; SAP SE; Software AG; Teradata; K2View; and Hewlett Packard Enterprise Development LP are among the leading companies in the Middle East & Africa data fabric market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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