The integration of artificial intelligence technologies is anticipated to be opportunistic for the growth of data governance market
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.
Segment Overview of Global Data Governance Market
Component Overview, 2018-2025 (USD Million)
Management Type Overview, 2018-2025 (USD Million)
- Compliance Management
- Incident Management
- Risk Management
- Audit Management
- Process Management
- Data Quality and Security Management
Industry Vertical Overview, 2018-2025 (USD Million)
- IT & Telecom
- Government and Defense
Regional Overview, 2018-2025 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America