Global Data Governance Market Report 2022: Market to Reach $6 Billion by 2026 – Data Governance to Play a Pivotal Role Buoyed by Machine Learning and AI
Jan 14, 2022
DUBLIN, Jan. 14, 2022 /PRNewswire/ — The “Data Governance – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Data Governance Market to Reach US$6 Billion by the Year 2026
Global market for Data Governance estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$6 Billion by 2026, growing at a CAGR of 22% over the analysis period. On-Premise, one of the segments analyzed in the report, is projected to grow at a 22.9% CAGR to reach US$5.6 Billion by the end of the analysis period.
Data governance is a set of tools, which defines roles, standards, policies, metrics, and processes for information within an organization. These tools ensure that data is used responsibly, efficiently, and effectively to further the organization’s functions. Data governance market is being driven by many factors.
The deluge of data from various sources and the valuable insights than can be gleaned from such data is pushing businesses to opt for advanced IT systems, which is driving the demand for data governance solutions. In addition, risk management and regulatory compliance are also driving the growth of data governance solutions.
The increasingly stringent data privacy laws as well as the local storage mandates are forcing organizations to manage data more efficiently, which is ensured by data governance solutions. The increasing cross-border and cross-company collaborations are also aiding growth of data governance as it ensures that data is available for all the stakeholders while being monitored with a safe structure.
The advent of Artificial Intelligence (AI) applications also promotes data governance. In addition, the increasing trend of Bring Your Own Device (BYOD), and the associated security risks, is also driving the growth of data governance solutions.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud segment is readjusted to a revised 19.1% CAGR for the next 7-year period. This segment currently accounts for a 27% share of the global Data Governance market. On-premise deployment is the most popular deployment method for data governance solutions as it ensures complete control over various aspects of the data such as security and metadata.
The U.S. Market is Estimated at $722.9 Million in 2021, While China is Forecast to Reach $654.1 Million by 2026
The Data Governance market in the U.S. is estimated at US$722.9 Million in the year 2021. The country currently accounts for a 34.27% share in the global market.
China, the world’s second largest economy, is forecast to reach an estimated market size of US$654.1 Million in the year 2026 trailing a CAGR of 25.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 21.5% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 21.1% CAGR while Rest of European 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 consistent expansion of the North American market is credited to 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 generation of exponential volumes of metadata.
The Asia-Pacific region has emerged as a hub of digital innovation. In addition, governments within the region are also concentrating on strengthening their data privacy laws as concerns grow over data privacy. As a result, the Asia-Pacific region offers the highest growth potential for data governance solutions.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- 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 TRENDS & 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
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
- Total Companies Profiled: 163
For more information about this report visit https://www.researchandmarkets.com/r/5v5sjo
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets