Data Governance Market Report 2022: Market will reach $6 billion by 2026 - Data Governance will play a Pivotal Role Buoyed by Machine Learning and AI
DUBLIN, January 14, 2022/PRNewswire/ -- The report has been added to ResearchAndMarkets.com's offering.
By the year 2026, the Global Data Governance Market will cost US$6 billion.
By the end of the analysis period, the global market for Data Governance is estimated at US$1.8 billion in 2020 and is expected to reach a revised height of US$6 billion.
Data governance is a set of tools that define organizational roles, standards, policies, and metrics, all in order to ensure that information is utilized responsibly, efficiently, and effectively to fulfill its mission.
The lack of data from different sources and the valuable insights than can be obtained from such data are driving businesses to opt for advanced IT systems, which is driving the demand for data governance solutions. Decreased risk management and regulatory compliance are also driving the growth of data governance solutions.
The increase of cross-border and cross-company collaborations have also helped organizations improve data governance, ensuring that all stakeholders are responsible for maintaining information.
The advent of Artificial Intelligence applications (AI) also promotes data governance, and the rise of Bring Your Own Device (BYOD) and associated security concerns are also leading the adoption of data governance solutions.
The Cloud segment is expected to grow to a revised 19.1% CAGR for the next seven years, according to analysts. On-premise deployment is the most popular deployment method for data governance solutions, as it ensures complete control of the data, including security and metadata. The US Market is expected to reach $654.1 Million by 2026, according to analysts.
The Data Governance market in the United States is expected to cost US$722.9 million in the year 2021, with the United States taking a 34.27% share in the global market.
China, the world's second largest economy, is expected to expand to an estimated market size of US$654.1 million in the year 2026, despite an increase of 25.2% during the analysis period.
According to the analysis, Germany is expected to grow at about 21.1% CAGR, while the Rest of Europe's market (as defined in the study) will reach US$467.8 Million by the end of the analysis period. Data governance market is being led by the developed regions such as North America (including USA and Canada) and Europe.
The steady expansion of the North American market is credited with robust IT infrastructure, technological advances, and increasing application of data governance in various industries, from telecommunication and finance to media. The regional market is driven by technological advancements along with increasing use of cloud platforms, smart devices, and IoT for streamlining operations, which is resulting in the creation of exponential volumes of metadata.
As concerns over data privacy grow, the Asia-Pacific region offers the highest growth potential for data governance solutions.
MARKET OVERVIEW I. METHODOLOGYII. EXECUTIVE SUMMARY 1.
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- Impact of COVID-19 on Data Governance
- How the IT Industry Has Been Impacted by the Pandemic & What's the New Normal?
- Cloud Services Emerges as the Lone Bright Spot amidst the Crisis
- An Introduction to Data Governance
- Data Governance Tools
- Implementation of Data Governance
- Benefits of Data Governance
- Cloud Data Governance
- Global Market Prospects & Outlook
- Analysis by Deployment
- Analysis by Vertical
- Regional Analysis
- Competitive Scenario
- Recent Market Activity
- Innovations and Advancements
- Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 163 Featured):
- Alation Inc.
- Ataccama Corporation
- Collibra NV
- Data Advantage Group
- Datum LLC
- Denodo Technologies
- erwin, Inc.
- Global Data Excellence
- Global Ids
- IBM Corporation
- Infogix, Inc.
- Informatica LLC
- Information Builders, Inc.
- Innovative Routines International (IRI), Inc.
- Magnitude Software, Inc.
- Oracle Corporation
- Orchestra Networks Inc.
- SAP SE
- SAS Institute, Inc.
- Talend SA
- TIBCO Software, Inc.
3. MARKET TIME TIME & DRIVERS
- Data Governance: The Integrated Approach
- Data Governance: The Future
- Key Data Governance Trends Shaping the Industry
- The Formalization of Data Collection from Third Parties & Customers
- Enhanced Data Awareness & Literacy
- Management of Data Distribution
- Future-Proofing Businesses Having Data Strategies
- Data Governance on a Modern Cloud
- Data Governance to Play a Pivotal Role Buoyed by Machine Learning and AI
- Rapid Growth of Enterprise Data Volumes Presents Broad-based Opportunities for Data Governance Market
- Widespread Use of Enterprise Software and Business Apps Leads to Creation of Massive Volumes of Enterprise Data
- Rise of Digital Transformation as the New Age Enterprise Strategy Creates Fertile Environment for Market Expansion
- COVID-19 Accelerates Digital Transformation
- Spurred by New Data Privacy Standards, Data Catalog Takes Center Stage in Data Governance
- Market Benefits from the Expansion of Data Warehousing, Data Pooling and Data Mining Operations in Enterprises
- Growing Significance of Data Governance among Enterprises Spurs Metadata Management Market Growth
- Metadata Management Automation Helps Transform Data Governance
- Need to Cut Down Risk of Enterprise Data Assets
- IoT Data Governance Gains Significance with Increasing Penetration of IoT Devices
- Expanding Volumes of Industrial Big Data Fuels Demand for Data Governance
- Data Governance Drives Value in Healthcare Domain
- Common Challenges in Data Governance
ANALYSISIV. COMPETITION OF THE GLOBAL MARKET IN THE GLOBAL MARKET IN THE REGIONAL MARKET IN THE REGIONAL MARKET IN THE REGIONAL MARKET IN THERE
- Total Companies Profiled: 163
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SOURCE Research and Markets