Rapid Adoption of Data-Driven Decision-Making Drives Data Fusion Market

The objective of the report is to define, describe, and forecast the data fusion market trends based on component, business function, deployment model, organization size, industry, and region.

(EMAILWIRE.COM, July 13, 2018 ) The report "Data Fusion Market by Business Function (IT, Sales and Marketing, Operations, Finance, and HR), Component (Tools and Services), Deployment Model (On-Premises and On-Demand), Organization Size, Industry, and Region - Global Forecast to 2022", The data fusion market is estimated to grow from USD 7.62 Billion in 2017 to USD 15.92 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.9% during the forecast period. The major factors driving the data fusion market are rapid adoption of data-driven decision-making and introduction of Industrial Internet of Things (IIoT). The data fusion market has grown rapidly due to the transformation from traditional data management techniques for collaboration of data from disparate data sources to advanced techniques and an enormous surge of structured and unstructured data.

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The data fusion market includes an expansive list of vendors providing tools and services, such as AGT International (Switzerland), Esri (US), LexisNexis (US), Palantir Technologies (US), Thomson Reuters (Canada), InvenSense (US), Clarivate Analytics (US), Cogint (US), Merrick & Company (US), and INRIX (US). Players in the data fusion market have embraced different strategies to extend their global presence and market share. The key strategies adopted by the industry players to accomplish development in the data fusion market are new product launches, product upgradations, collaborations, and partnerships.

Thomson Reuters is one of the eminent leaders in the data fusion market. The company is known to provide comprehensive tools and services that include Thomson Reuters Data Fusion, which is a hybrid of the big data and linked-data technologies, combined with Thomson Reuters’ Intelligent Tagging and PermID solutions. The company operates in 4 business segments, namely, financial and risk, legal, Reuters news, and tax and accounting. It has expanded its geographical presence in the regions of North America, Middle East and Africa (MEA), Europe, and Asia Pacific (APAC). Its long-term strategy inclines more toward the organic growth strategies that look forward to enhancing its existing products and services portfolio with new feature additions and improvements in the data fusion market.

Some of the major business functions that data fusion caters to include Information Technology (IT), sales and marketing, finance, operations, and Human Resources (HR). The HR segment is expected to witness the highest CAGR during the period 2017–2022. The data fusion tools and services are widely used by major industry verticals globally, such as Banking, Financial Services, and Insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences, government and defense, manufacturing, energy and utilities, transportation and logistics, media and entertainment, and others (travel and hospitality and academia and research). Moreover, the media and entertainment segment is
expected to grow at the highest CAGR during the forecast period.

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The region-specific market analysis includes industry trends, market potential, and market forecast based on component, business function, deployment model, organization size, and industry vertical. Asia Pacific (APAC) is expected to be the fastest-growing region in the data fusion market during the forecast period. Globally, data fusion adoption has increased due to the growth in need to manage and analyze business data in real time across the APAC and Middle Eastern and African (MEA) regions. Companies, such as AGT International (Switzerland), Esri (US), LexisNexis (US), Palantir Technologies (US), Thomson Reuters (Canada), InvenSense (US), Clarivate Analytics (US), Cogint (US), Merrick & Company (US), and INRIX (US), offer a competitive product portfolio across these regions.