Data Catalog Market Insights Research Report 2023-2030

The global data catalog market is forecast to expand at a CAGR of 20.2% and thereby increase from a value of US$956.4 Mn in 2023, to US$3,467.1 Mn by the end of 2030.

The global data catalog market is witnessing unprecedented growth, driven by the ever-increasing volume of data across industries and the need for efficient data management tools. A data catalog is a comprehensive system that centralizes metadata to create a repository for an organizations data assets, facilitating data discovery, governance, and informed decision-making. This press release delves into the key factors, market drivers, restraints, opportunities, and market segmentation that define the data catalog industrys current landscape.

Market Introduction and Definition

A data catalog serves as a navigational instrument, helping users explore and comprehend available data resources within an organization. It enhances data visibility and supports effective data governance, ensuring compliance and informed decision-making. The surge in data production across sectors, the imperative for data-driven decision-making, and compliance obligations like CCPA and GDPR have propelled the global data catalog markets substantial expansion. The market also benefits from the widespread adoption of cloud computing and big data technologies.

Market Growth Drivers

• Escalating Volume of Data Produced Across All Industries: The exponential growth in data production, driven by various sources such as social media, IoT devices, and transactions, poses challenges in leveraging datas potential. Data catalogs provide a systematic framework to manage and extract value from vast data ecosystems, making data a strategic asset.
• Increasing Apprehension, and Difficulties Linked to Data Security and Privacy: Data security and privacy concerns restrict market expansion. Robust security measures are required to protect confidential data and adhere to data protection regulations like GDPR and CCPA.
• Intricate Nature of Achieving Interoperability and Integration Across Various Data Environments: Hybrid infrastructures, on-premises databases, and cloud platforms contribute to data accumulation complexity. Achieving seamless interoperability among these systems is challenging, hindering data catalog efficacy.

Research Report:https://www.persistencemarketresearch.com/market-research/data-catalog-market.asp

Opportunities

Growing awareness of the possibilities of Artificial Intelligence (AI) and machine learning (ML) in data management is driving market growth. AI and ML technologies enhance data catalog solutions by automating data classification, tagging, and recommendations, improving data quality and governance. AI-powered algorithms enable catalogs to adapt to changing data landscapes, reducing manual labor and expediting insights generation.

Analyst's Viewpoint

Increasing data production and the need for data-driven decisions emphasize the significance of data catalogs. Integrating AI and ML technologies enhances catalog capabilities, leading to customization, collaboration, and enduring partnerships. Manufacturers focus on intuitive interfaces, advanced AI-powered functionalities, and integration with emerging technologies to meet evolving industry needs.

Supply-side Dynamics

Prominent entities in the data catalog market, such as Microsoft Corporation, IBM Corporation, Collibra, Alation Inc., and Informatica, offer comprehensive solutions addressing diverse business requirements. North America leads in data catalog adoption due to its data-centric strategies and advanced technological environment. European nations emphasize data governance, while the Asia Pacific region, especially China, Japan, and South Korea, witnesses rapid adoption driven by technological progress and data production.

Market Segmentation

• Commanding Component Segment: Solutions hold the most substantial market share due to the growing emphasis on comprehensive data management. Services, including implementation, consulting, and support, are expected to witness rapid growth as organizations seek expert guidance for catalog implementation and optimization.
• Major Market Category in Terms of Metadata Management Tools: Business metadata holds the largest market share, followed by operational metadata. Business metadata is crucial for understanding data utilization, while operational metadata gains importance with growing data compliance and governance concerns.
• Preferred Deployment Mode: Cloud-based deployment is anticipated to dominate the market due to enhanced accessibility, scalability, and flexibility. On-premises solutions continue to be applicable in specific sectors but are gradually being overshadowed by cloud-based solutions.
• Largest Data Consumer Segment: Business intelligence tools hold the largest market share, while web and mobile applications are expected to witness rapid growth due to increased remote work and the demand for responsive, user-centric solutions.
• Vertical at the Forefront of Adoption: The BFSI sector dominates data catalog adoption due to complex data demands and regulatory compliance obligations. The healthcare sector is expected to undergo rapid expansion, driven by a digital revolution and data generation from various sources.

Top Regional Markets

• North America: Holds the largest market share due to data-centric strategies, technological advancements, and a resilient IT infrastructure.
• East Asia: Witnessing rapid expansion driven by technological progress, digital transformation, and data production in countries like China, Japan, and South Korea.

Competitive Intelligence and Business Strategy

Market leaders differentiate themselves by offering comprehensive data catalog solutions addressing diverse requirements. They invest in AI and ML technologies to improve data catalog capabilities, ensuring they remain up-to-date and adaptable to future developments. Customizations for specific industries attract enterprises seeking tailored solutions, fostering partnerships and market growth.

Data Catalog Market Research Segmentation

By Component:

• Solutions
  • Standalone Solution
  • Integrated Solution
• Services
  • Support and Maintenance Services
  • Consulting Services
  • Deployment and Integration Services
  • Managed Services

By Metadata Management Tools:

• Business Metadata
• Technical Metadata
• Operational Metadata

By Deployment Mode:

• Cloud
• On-Premise

By Data Consumer:

• Business Intelligence Tools
  • Data Integration and ETL
  • Reporting and Visualization
  • Query and Analysis
• Enterprise Applications
  • ERP
  • Supply Chain Management System
• Mobile and Web Applications
  • Heat Map Analytics
  • Web Behavioral Analysis
  • Market Automation

By Vertical:

• BFSI
• Retail and E-Commerce
• IT and Telecom
• Healthcare
• Manufacturing
• Others

By Region:

• North America
• Europe
• East Asia
• South Asia & Oceania
• Latin America
• Middle East & Africa

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This press release first seen onBrilad

COMTEX_447074906/2840/2024-01-30T19:23:03