Data Governance Market to grow at 18% CAGR to reach US $5 billion by 2025 - Global Insights on Trends, Key Leaders, COVID-19 Impact Analysis, Growth Drivers, Competitive Landscape and Future Outlook: Adroit Market Research
Adroit Market Research
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The integration of artificial intelligence technologies is anticipated to be opportunistic for the growth of data governance market. The Asia-Pacific region is projected to experience the highest growth throughout the forecast period
Dallas, Texas, July 24, 2020 (GLOBE NEWSWIRE) -- The “Data Governance Market by Component (Solutions and Services (Managed Services and Professional Services)), Management Type (Compliance Management, Incident Management, Risk Management, Audit Management, Process Management, Data Quality and Security Management, and Others), Industry Vertical (BFSI, IT & Telecom, Healthcare, Retail, Manufacturing, Government and Defense, and Others), and Region, Global Forecast, 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The global data governance market size is anticipated to surpass USD 5 billion by 2025, growing at a CAGR of over 18% during the forecast period 2018-2025. Data governance refers to the management of data, company or industry-wide to make its efficient use. The data governance solutions have an application across numerous industries such as government & defense, banking, financial services, and insurance, IT and telecoms, retail and e-commerce, healthcare, manufacturing, and others.
The current and future data governance market advances are defined to state the attractiveness of the market. Key impacting aspects focus on the data governance market opportunities during the forecast period. Factors such as the growing regulations and laws to protect data are also the key factor in boosting the global data governance market growth. Besides, rising volumes of data are also driving the adoption of data governance solutions. Moreover, the increase in the need to eliminate customer risks is also driving the market growth. However, numerous data address validation and regulatory policy structures are expected to impede market growth. Furthermore, the integration of artificial intelligence technologies is anticipated to be opportunistic for the market in the forthcoming years.
The report also highlights various aspects of the global data governance industry by analyzing the market through value chain analysis. Besides, the data governance market report covers different qualitative aspects of the data governance industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The data governance market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming for potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
Based on the management type, the market is segmented into compliance management, incident management, risk management, audit management, process management, data quality and security management, and others. The risk management segment leads the market growth in 2019 and it is expected to do so throughout the forecast period. However, the compliance management segment is anticipated to hold the major CAGR during the forecast period. The growth of this segment is mainly attributed to the increasing need to meet customers’ expectations by compliance management features and providing distinctive products.
The Asia-Pacific region is projected to experience the highest growth throughout the forecast period. On the contrary, the North American region dominated the overall market in 2019 and it is expected to maintain its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the increasing need to ensure data lineage and quality throughout the enterprises' data life cycle.
The major players of the global Data Governance market are Oracle, SAS Institute, IBM, TIBCO Software, Infogix, SAP, Talend, Alation, Informatica, and Teradata. Moreover, the other potential players in the Data Governance market are Syncsort, Reltio, Global IDs, MicroStrategy Incorporated, TopQuadrant. The recognized companies are coming up with innovative and new Data Governance Management Types.
For instance, in January 2020, Oracle announced the collaboration with Innovative Routines International (IRI), a data manipulation and security company. With this collaboration, IRI integrated its data management platform, Voracity on Oracle Cloud Infrastructure.
Major points from Table of Contents: Chapter 1 Introduction Chapter 2 Research Methodology Chapter 3 Executive Summary Chapter 4 Market Outlook Chapter 5 Data Governance Market by Component Chapter 6 Data Governance Market by Management Type Chapter 7 Data Governance Market by Industry Vertical Chapter 8 Data Governance Market By Region Chapter 9 Competitive Landscape Chapter 10 Company Profiles
About Us: Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
