Data Integration Market Growth & Trends
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.
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 facilities 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 Report Highlights
- Some regions in North America have the most competitive and constantly changing and rising technological advancements in the data integration industry. The expanding number of data integration businesses globally is projected to support market expansion
- Large enterprises are scaling their infrastructure to meet remote worker needs and unique demands. Enterprises also maintain infrastructural support for their services and goods
- The cloud segment is anticipated to portray the highest growth rate in the forecast period. Organizations can store essential resources in the cloud and access various customizable data integration options
- North America dominated the global market in 2021. However, Asia Pacific is projected to grow at the highest CAGR from 2022 to 2030