Data Mesh Market is expected to reach US$ 4.27 Billion by 2031

Unlocking Fine-Grained Supervision for Data Governance and Integration with Cloud-Native Technologies are Expected to Create Lucrative Opportunities in Data Mesh Market During 2023–2031

According to our latest market study on "Data Mesh Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Solution, Deployment, Application, and Industry Vertical," the market was valued at US$ 1.28 billion in 2023 and is expected to reach US$ 4.27 billion by 2031; it is estimated to record a CAGR of 16.3% from 2023 to 2031.

In the evolving landscape of data mesh architecture, the idea of federated computational governance presents a significant opportunity, providing a radical change to businesses in handling and controlling their dispersed data. The federated computational governance strategy is a decentralized model in which governance is not centralized but distributed among an organization's many data domains and areas of expertise. A paradigm known as federated computational governance assures quality, security, and compliance across interconnected data domains while promoting cooperation and decision-making. Federated computational governance in this context makes it possible to construct federated data ownership, in which domain-specific specialists are in charge of guaranteeing the security, privacy, and quality of their data instead of a central governing authority. Federated computational governance is a framework that facilitates collaboration and decision-making by assuring quality, security, and compliance across interconnected data domains. The federated computational governance context makes it possible to establish federated data ownership to ensure 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. For instance, according to the ZipDo report of August 2023, financial sector investment in big data and business analytics reached US$ 100.2 billion in 2023, an increase of 43.00% from 2020. The finance & accounting domain deals with large amounts of data on a daily basis, which increases the demand for data mesh solutions among organizations to manage accurately and make real-time decisions. Data mesh encourages a sense of accountability and ownership among domain experts and data stewards. This distributed ownership brings governance techniques closer to the subtleties and complexities of the finance & accounting data domain, creating opportunities in the market.

A federated computational governance framework ensures consistent metadata standards and governance policies while integrating metadata management and data cataloging across domains. This makes it easier for organizations to find and comprehend data assets without compromising compliance and security norms, driving the data mesh market. Additionally, decentralized governance architecture supports the investigation of novel data use cases, stimulates data-driven decision-making, fosters the quick prototyping of new ideas, and increases the use of federated computational governance frameworks among organizations across the globe. However, rising demand for federated computational governance is expected to create lucrative opportunities for the global data mesh market growth during the forecast period.

The cloud platform plays a noteworthy role in the organization's management of large data. For instance, according to Infosys Limited, 67% of companies increased their cloud spending in 2023, and 80% are planning to raise their cloud spending to manage and protect their customer's data from theft effectively. Businesses are heavily investing in cloud technology to streamline their data operations and transformation and secure data from cyber threats, which is creating opportunities in the market. Increasing awareness among companies for managing large amounts of data, rising advantages of the cloud’s agility for improving new solutions and services, and growing adoption of cloud platforms are creating a demand for data mesh.

Data Mesh Market Report – by Geography, 2023

The data mesh market forecast can help stakeholders in this marketplace plan their growth strategies. SAP SE, Microsoft Corp, Alphabet Inc, Oracle Corp, International Business Machines Corp, Amazon.com Inc, Dremio Corp, QlikTech International AB, Confluent Inc, Hitachi Vantara Corp, Snowflake Inc, K2view Ltd, Denodo Technologies, Inc, Informatica Corp, Estuary Technologies, Inc., Databricks Inc, Cisco Systems Inc, TIBCO Software Inc., Autodesk Inc, and Adobe Inc, are among the key market players that are profiled in the report. Several other essential market players were also analyzed for a holistic view of the market and its ecosystem. The data mesh market report provides detailed market insights to help major players strategize their growth.

In terms of revenue, Asia Pacific dominated the data mesh market share. The data mesh market in Asia Pacific is projected to register the highest CAGR during the forecast period. The data mesh market analysis is carried out by identifying and evaluating key market players across the region. Various global companies in China, Japan, South Korea, India, and Taiwan are highly engaged in adopting AI and big data analytics technologies, and the rising incorporation of cloud computing is driving the data mesh market in the region. According to Salesforce Inc., in September 2023, 12 countries in Asia Pacific had already deployed AI technology in businesses to streamline data operation, integration, and transformation activities. Countries such as Singapore, China, Japan, and South Korea have already deployed AI technology for managing and delivering large amounts of high-quality data; this is expected to fuel the data mesh market growth in the region during the forecast period.

Asia Pacific accounted for the largest data mesh market share in 2023. The high adoption advanced technologies and investments in AI technology in Asia Pacific are expected to bring new data mesh market trends in the coming years. Industries in Asia Pacific are continuously engaged in the development and adoption of AI technology for managing their customers' domain-specific data-sensitive information. Industries such as BFSI, IT & telecom, retail & e-commerce, government & public sector, and healthcare are deploying AI-based data mesh solutions for managing their own data products and making informed decisions. This is expected to facilitate the expansion of the data mesh market during the forecast period.

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