The global data governance market size is projected to grow at a CAGR of 22.3% during the forecast period
The data governance market size is estimated to be USD 2.1 billion in 2020 and is expected to reach USD 5.7 billion by 2025, growing at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period. The rapidly increasing growth in data volumes, rising regulatory and compliance mandates, and enhancing strategic risk management and decision-making with the increasing business collaborations are expected topropel the growth of the data governance market.
Compliance management application segment to grow at a higher CAGR during the forecast period
Among various applications, the compliance management application segment is expected to grow at the fastest rate, due to the fact that compliance management applications enable organizations to test, remediate, attest, and manage their corporate structure.Compliance management applications enable organizations to implement, manage, monitor, and measure the effectiveness of their governance and compliance strategies. In addition to this, cloud-based compliance management applications provide organizations with all the necessary tools for creating an effective internal management system. The collaborative workspace helps process managers in determining organizations’ compliance level.
The retail and consumer goods industry vertical to grow at the highest CAGR during the forecast period
The retail and consumer goods industry vertical is expected to grow at the highest CAGR during the forecast period, as it is creating large volumes of data which is ultimately driving the need for efficient data governance solutions in this industry vertical. The ongoing transformations in the retail and consumer goods vertical are creating large volumes of data every year, which ultimately drives the need for efficient data governance solutions.
North America to hold highest market share during the forecast period
North Americais expected to dominate the data governance market throughout the forecast period, owing to the early adoption of technologies and the presence of a large number of data governance solution providers. AsiaPacific (APAC) is expected to grow at the highest CAGR during the forecast period. Theincreasing digitalization and investment in infrastructure upgrades have resulted in the higher adoption of data governance and data management solutions. APAC is witnessing the increasing demand for cloud-based solutions, owing to the growing size of SMEs. Companies operating in this region provide different solutions based on organization size and their requirements.
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the data governance market
- By Company: Tier I: 55%, Tier II: 20%, and Tier III: 25%
- By Designation: C-Level Executives: 40%, Directors: 35%, and Others: 25%
- By Region: North America: 40%, Asia Pacific (APAC): 20%, Europe: 30%, Middle East and Africa (MEA): 8%, and Latin America: 2%
The report includes the study of the key players offering data governance solutions and services. It profiles major vendors in the global social media analytics market. The major vendors are IBM (US), Oracle (US), SAP (Germany), SAS (US), Collibra (US), Informatica (US), Talend (US), TopQuadrant (US), Information Builders (US), Alation (US), TIBCO (US), Varonis (US), erwin (US), Data Advantage Group (US), Syncsort (US), Infogix (US), Magnitude Software (US), Ataccama (US), Reltio (US), Global Data Excellence (Switzerland), Global IDs (US), Innovative Routines International (US), Denodo (US), Adaptive (US), Microsoft (US), Zaloni (US), Alex Solutions (Australia), Microfocus (UK) and Mindtree(US). It further includes an in-depth competitive analysis of key players in the social media analytics market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
The market study covers the data governance market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as component, deployment model, organization size, application, industry verticals, and region.
Key Benefits of Buying the Report
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall data governance and its subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
- The report further helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.