Dublin, Jan. 19, 2022 (GLOBE NEWSWIRE) -- 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
Recent Market Activity
Innovations and Advancements
Select Global Brands
2. FOCUS ON SELECT PLAYERS(Total 163 Featured):
Data Advantage Group
Global Data Excellence
Information Builders, Inc.
Innovative Routines International (IRI), Inc.
Magnitude Software, Inc.
Orchestra Networks Inc.
SAS Institute, Inc.
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/of3zzj
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900