Unveiling the Data Governance Market Dynamics

The Business Research Company’s Data Governance Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, January 4, 2024 /EINPresswire.com/ — The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

The global data governance market is poised for remarkable growth, escalating from $3.21 billion in 2022 to $3.87 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 20.6%. The market is expected to continue its upward trajectory, reaching $8.22 billion in 2027 with a projected CAGR of 20.7%.

Driving Forces: Rapid Surge in Data Volumes
The data governance market is propelled by the exponential growth in data volumes, attributed to the proliferation of data-generating devices like smartphones, wearables, and various sensor-equipped gadgets. Factors such as the widespread adoption of the Internet of Things (IoT), cloud computing, and the imminent integration of 5G further contribute to the surge. Effective data governance, which enhances data quality, reduces data management costs, and facilitates streamlined access to data for analysts and business users, becomes imperative in managing this vast data landscape. FinancesOnline reports a staggering 74 zettabytes of total global data by the end of 2021, with a daily creation of 1.145 trillion MB, emphasizing the significance of robust data governance in coping with this data explosion.

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Key Market Players:
Major players in the data governance market include IBM Corporation, Oracle, Collibra, Informatica, Talend, TopQuadrant, Alation, TIBCO Software Inc., Varonis, Data Advantage Group, Ataccama, Global Data Excellence, Global IDs, Microsoft Corporation, Adobe Inc., Datum LLC, Infosys Limited, Microfocus, Denodo Technologies, and Amazon Web Services Inc.

Emerging Trends: Strategic Partnerships and Collaborations
Strategic partnerships and collaborations are gaining prominence in the data governance market, as organisations recognise the need for effective data governance programs that require collaboration across various enterprise functions. Notable collaborations include Axtria partnering with Reltio for sales and marketing process enhancement through competitive insights and predictive analytics. Additionally, Erwin Inc. collaborated with Mikan Associates to help organisations adopt data governance solutions, exemplifying the collaborative nature required in advancing data governance initiatives.

Regional Landscape: North America Leading, Asia-Pacific Paving the Way
North America emerged as the largest region in the data governance market in 2022, showcasing its early adoption and significant market share. However, Asia-Pacific is anticipated to witness the fastest growth in the forecast period, indicating a burgeoning interest in data governance solutions in the region. The comprehensive regions covered in the data governance market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation:
The global data governance market is segmented based on key criteria:
•Component: Solutions, Services
•Deployment Model: On-Premise, Cloud
•Organisation Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
•Application: Incident Management, Process Management, Compliance Management, Risk Management, Audit Management, Data Quality And Security Management, Other Applications
•Industry Vertical: BFSI, Retail And Consumer Goods, Telecom And IT, Government, Healthcare, Manufacturing, Energy And Utilities, Transportation And Logistics, Other Industry Verticals

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Data Governance Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Data Governance Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on data governance market size, data governance market drivers and trends, data governance market major players, competitors’ revenues, market positioning, and data governance market growth across geographies. The data governance market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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