Sarasota, FL -- (SBWIRE) -- 05/17/2018 -- Global Data Fusion Market: Overview

Data fusion is the process of merging or binding multiple data sources to construct accurate and useful information for the user. There are different processing stages at which fusion takes place like high, low and intermediate. The newly fused data is informative and synthetic than the original inputs. Data fusion is more like fusing diverse data sets into a unified or single data set. It is basically synthesizing the raw data from multifarious sources to generate meaningful information which can be of greater value. Data fusion tools cater to the IT sector along with sales and marketing, finance and the HR sector. As there is an advancing transition from the traditional data management techniques like data warehousing, to the more advanced techniques the market for data fusion tools is immensely growing.

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Global Data Fusion Market: Growth Factors

Major factors that are spurring the global data fusion market, is the favoring towards smart devices linked with the fusion technologies which is surging the demand in near future. Swift adoption of the data-driven decision-making techniques and the advancing technology has also fueled the growth of data fusion markets. The high cost of investment and changing regulatory policies may border the growth of the market. Data fusion accredits the huge data from IT to fuse and convert into relevant and actionable insights for rapid problem resolution. Incorporation of data fusion into the IT functions is one major growth factor for the market. Lack of skilled workforce and management and maintaining the data quality is one restricting factor in data fusion market. The growing use of fusion technologies is expected to fuel the growth of the market. Introduction of the IIoT and the need to create insights from unused data are major drivers for the market. High adoption of the fusion tools and services among the SMEs is also a rising opportunity for booming the market.

Global Data Fusion Market: Segmentation

The global data fusion market is segmented, on basis of service into Managed services and Professional services. The professional services are further divided into Consulting, Deployment and integration, and Support and maintenance. Depending on deployment model, the market is fragmented into On-demand and On-premises. In terms of component, the market is classified as Service and Tool. As per region, the market is segmented into North America, Europe, Asia Pacific (APAC), Latin America and the Middle East and Africa (MEA). On basis of organization size, the market is divided into large enterprises and Small and Medium Enterprises (SMEs). By business function, the market is segregated into Information Technology (IT), Sales and Marketing, Human Resource (HR), Operations and Finance. Depending on the industry, the market is segmented into Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Retail and consumer goods, Healthcare and life sciences, Transportation and logistics, Government and defense, Energy and utilities, Manufacturing, Media and entertainment and others.

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Global Data Fusion Market: Regional Analysis

The data fusion market is fragmented as North America, Europe, Asia Pacific and the Middle East. North America is envisioned to continue being the largest revenue generating region for data fusion dealers. The market in the Asia Pacific is expected to be fastest growing owing to the tech-savvy population and increased adoption of IIoT. Government initiatives like smart cities in APAC including India and China is also a reason for the growth. Europe is expected to grow at a faster rate in terms of revenue.

Global Data Fusion Market: Competitive Players

Some of the vital players in the global data fusion market are Merrick & Company, AGT International, ESRI, RELX Group (LexisNexis), Clarivate Analytics, Cogint Inc., TDK Corporation (InvenSense), Palantir Technologies, Thomson Reuters and INRIX, among others.

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