Data Mesh Market To Generate Revenue worth $3,794.3 Million by 2030

The data mesh market revenue, which stood at USD 1,290.4 million in 2023, is expected to witness a CAGR of 16.9% during 2024–2030, reaching USD 3,794.3 million by 2030. It will be due to the rise in the need for data democratization and accessibility, demand for strong security, adoption of the cloud technology and new data architectures that offer the freedom for innovation and flexibility.

Increasing Demand for Data Democratization and Accessibility

The increasing demand for data democratization and accessibility is driving the market. Currently, there is a requirement for reliable and secure access to significant data among organizations. By democratizing data, companies can create a culture where various teams can access, comprehend, and influence the information that is related to their roles and responsibilities. Data mesh’s strategies are designed to give preference to accessibility, by encompassing data into self-serve and manageable units. This ensures that this information is not just available but also easily comprehensible and advantageous to individuals.

Federated computational governance is a bright opportunity area in the market. Companies can control and govern their dispersed data with the help of this model. Additionally, it helps in the decision-making process and partnerships, while giving priority to quality, security, and compliance in related data sectors.

Healthcare and Lifesciences Category Is Rapidly Growing

On the basis of vertical, the healthcare and life sciences will witness a CAGR of 17% from 2024 to 2030. This is owed to the increment in the data volumes in the healthcare industry, which comprises patient records, genomic information, and research data. In healthcare, decentralized data management enables more transparency during clinical trials and research studies. Moreover, the internet of things (IoT) and wearables have become more common in healthcare analytics and remote patient monitoring, all of which transmit significant volumes of electronic information each second.

Population health management is another central area of focus for healthcare organizations, and it demands advanced types of analytics on big datasets. People in the healthcare industry can get practical insights with this technology for dispersed analytics. Additionally, in the pharmaceutical industry, large sets of data need to be studied as it works regularly on drug discovery and development. This technology helps in analyzing and managing the data efficiently.

North America Is Dominating Market

North America dominated the market, with a share of 40%, in 2023. Several companies in the region are adopting this technology of data mesh and understanding its potential to solve difficult data problems. In this region, the U.S. leads the market, as it is the first country to adopt advanced technologies. It also has robust information technology infrastructure, which is appropriate for the implementation of data mesh solutions.

Almost all industries in the country, including technology, finance, healthcare, and manufacturing. The presence of R&D hubs allows easy access to advanced technologies in the region.

Some of the major market players are IBM Corporation, Amazon Web Services Inc., SAP SE, Oracle Corporation, Informatica Inc., K2view Ltd., Talend Inc., Denodo Technologies Inc., Hewlett Packard Enterprise Company, NetApp Inc., Teradata Corporation, Radiant Logic Inc., Snowflake Inc., Google LLC, and Microsoft Corporation.