Data Catalog Market Size Research Report, By Component (Solution & Services), By Consumer Type (Business Intelligence Tool, Enterprise Applications, Mobile and Web Applications), By Deployment (On-Premise & Cloud), By Organization Size, By Vertical – Forecast till 2027
The global data catalog market size is expecting healthy ~24.8% CAGR during the forecast period, reveals Market Research Future (MRFR) in an elaborated study. The market also displays the ability to attain a valuation of USD 770 Million in the same period.
Top Impacting Factors
The boom in the global data catalog market size is due to features such as the rapidly changing data catalog market in the world. The rising acceptance of self-service and data propagation analytics are also some of the essential factors fuelling market growth at a rapid pace. Even the growing demand for the adoption of Bi tools has emerged to bring significant opportunities in the market during the forecast period.
The market for the data catalog is also anticipated to inflate owing to the ever-increasing volumes of data. The rising number of IoT, cloud apps and digital transformation of processes exponentially has increased the data to make it available. Therefore, the need for data catalog solutions also increased and gave a thrust to the market to expand at a faster rate. In the case of point, Informatica introduced a data catalog enabled with machine learning that automatically scans data assets across the enterprise, catalogs it, and indexes assets for enterprise-wide discovery.
A few of the other driving factors for the global data catalog market are mounting demand for rising automation technology and real-time availability of data, business intelligence tools, reduced cost of infrastructure, and gaining business insights. In fact, the ever-increasing number of cloud apps, the digital transformation of processes, is surging the amount of data available exponentially, thus propelling the need for the data catalog solution.
In spite of these factors, other factors have revealed as growth hinders, and those are data security, lack of standardization in data management, and privacy. These factors can impact the growth of the global data catalog market negatively.
Data is diverse and distributed across various divisions, applications, and data warehouses, and the process of getting data to the people and systems who need it is also growing in complexity. Data Catalog is an efficient and easy way to build and manage an index of all the data assets across the business. It helps the enterprises to build an intelligent model for the data which provides the metadata tags that make assets easy to find. Data Catalog makes it easy to understand how the data should be used, accessed, and managed. For instance, IBM Data Catalog helps enterprises unlock data so they can create intelligent data models, uncover insights, and ensure an effective team collaboration.
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From the viewpoint of segmental analysis, the global data catalog market size is studied among the segments of component, deployment, consumer type, organization size, and vertical.
Depending on the component segment, the market has included solutions and services. Among these, the solution has included a standalone solution and an integrated solution. Moreover, services have included professional services and managed services.
Depending on the deployment segment, the market has included on-premise and on Cloud.
Depending on consumer type, the market has included enterprise applications, business intelligence tools, and mobile and web applications.
Depending on organization size, the market has included small and medium enterprises and large enterprises.
Depending on the vertical segment, the market has included IT & telecom, BFSI, healthcare, government, retail, and others.
From the viewpoint of the regional aspect, the global data catalog market is studied for the main regions of Europe, Asia Pacific, North America, and the rest of the world. North America region will be seen as leading the data catalog market throughout the assessment period as several organizations are shifting towards new and upgraded technologies with the rising adoption of digital business strategies. The existence of the primary solution providers of the data catalog in North America is also motivating the growth of the data catalog market. The US and Canada are projected to implement data catalog solutions widely.
The region of Asia Pacific is also in the line of growing with the highest CAGR during the assessment period owing to mounting adoption of automation and increased demand for a visualization tool. The market in the Asia Pacific is gaining momentum also from various industries such as manufacturing, banking, healthcare, insurance, and financial services, and more.
Top Market Contenders
The top market contenders of data catalog market are listed as Informatica (US), IBM (US), Collibra (Belgium), Amazon Web Services (US), Alation (US), Waterline Data (US), TIBCO Software (US) Microsoft (US), Alteryx (US), Datawatch Corporation (US), and Tamr (US), Zaloni (US), and more. These players keep innovating and investing in research and development to present a cost-effective product portfolio. Mergers and acquisitions among various players are altering the market structure.
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