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Data governance is the process of managing the availability, usability, integrity and security of the data in enterprise systems, based on internal data standards and policies that also control data usage. Effective data governance ensures that data is consistent and trustworthy and doesn't get misused.

Statistics:

The data governance market was valued at US$ 2.06 Bn in 2021 and is forecast to reach a value of US$ 10.93 Bn by 2030 at a CAGR of 21.2% between 2022 and 2030.

Figure 1: Global Data Governance Market Value (US$ Bn) Analysis and Forecast, 2017 - 2030

Data Governance  | Coherent Market Insights

Key Developments:

In February 2021, Collibra adopted OwlDQ a predictive data standard software supplier. The OwlDQ utilizes ML to identify the anomalies in the data, create the data quality regulations automatically and then reconcile the error replications. The collaboration of OwlDQ into the Collibra Data intelligence cloud announced a new providing.

In June 2020, Collibra approved the Collibra data intelligence cloud, and end to end combined platform that produces the data workflows, offer deep visibility into the data ecosystem, makes sure regarding the security, and also offers trust insights. Collibra Data intelligence data governance and the private users pipeline the availability of the data.

Figure 2: Global Data Governance Market Share (%), By Region, 2021

Data Governance  | Coherent Market Insights

Market Drivers:

Driver 1:

Data governance improves data quality, lowers data management expenses, and increases data scientists', other analysts', and business users' access to needed data. This factor is expected to propel the growth of global data governance market. For instance, as per Finances Online, a US-based SaaS platform provider, there were 74 zettabytes of the total data in the world by the end of 2021. Additionally, 1.145 trillion MB of data is created daily in 2021.

Driver 2:

Rapid growth in data volumes is contributing to growth of the data governance market. The increasing number of data-generating devices, such as smartphones, wearable electronics, other gadgets with sensors to the popularity of the IoT, cloud computing boost the market. The rising adoption of 5G are all contributing to the exponential growth of data volume. All these factors are expected to drive the growth of global data governance market.

Market Restraint:

Restraint 1:

Monetizing data assets need the availability of a sufficient amount of data. However, data consolidation from distinct data sources into meaningful information can create several new challenges for many organizations, specifically centralized business enterprises. This is expected to hamper the growth of the global data governance market.

Restraint 2:

The growing Bring Your Own Device (BYOD) trend has led to a decline in the number of Personal Computers (PCs) and fixed assets across organizations, globally. This is projected to hinder the growth of the global data governance market.

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Data Governance Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 2.06 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 21.2 % 2030 Value Projection: US$ 10.93 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Deployment: Cloud, On-premise
  • By Organization Size: Large-scale Business, Small- and Medium-scale Business
  • By Component: Software, Service
  • By Business function: Operation and IT, Legal, Finance, Other Business Functions
  • By the End-user: IT and Telecom, Healthcare, Retail, Defense, BFSI, Other End User Industries
Companies covered:

Collibra NV, SAP SE, SAS Institute Inc., Symantec Corporation (Norton Lifelock), TIBCO Software Inc., Informatica Inc., Alation Inc., IBM Corporation, Varonis Systems Inc., Alfresco Software Inc., Oracle Corporation, Talend SA and Microsoft Corporation

Growth Drivers:
  • Rising regulatory and compliance mandates
  • Growth of data volume 
Restraints & Challenges:
  • Variation in data address validation
  • Varying structure of the regulatory policies

Market Opportunities:

Opportunity 1:

Organizations are starting to take a brief look at gaining information regarding continuously flowing data. The ability of organizations to act as soon as events are generated improves operational responsiveness and organizational effectiveness. Any enterprise that collects money, processes, and stores customer and payment data, and partners with other enterprises are required to comply with certain controls. This is expected to offer lucrative opportunities in the growth of global data governance market.

Opportunity 2:

The companies set few expectations on what the architecture and DevOps practices must adhere to. DevOps is a set of practices that automates the processes between software development and IT teams to build, test, and release software faster and with best reliability. There is a strong correlation between DevOps adoption and the execution of a data governance program. This strengthens the growth opportunities of the global data governance market.  

Market Key Takeaways/Trends:

Trend 1:

Strategic collaborations have emerged as the key trends gaining popularity in the data governance market. The development of an effective data governance program will require collaboration and cooperation across various organizations in the enterprise. The main thing among these are security and analytics teams. For instance, in 2021, Axtria, a US-based provider of cloud software and Data Analytics Company partnered with Reltio for an undisclosed amount. This collaboration was capable to harness Axtria's experience to strategically alter its sales and marketing processes through competitive insights and predictive analytics.

Trend 2:

Data governance in the banking, financial services, and insurance (BFSI) sector helps improve performance, alleviate internal issues concerning data, and prevent potential data breaches. This, consequently with the rising use of online banking services, is expected to contribute towards the growth of the global data governance market.

Competitive Landscape:

Major companies operating the global data governance market are Collibra NV, SAP SE, SAS Institute Inc., Symantec Corporation (Norton Lifelock), TIBCO Software Inc., Informatica Inc., Alation Inc., IBM Corporation, Varonis Systems Inc., Alfresco Software Inc., Oracle Corporation, Talend SA and Microsoft Corporation.

A well-designed data governance program usually comprises a governance team, a steering committee that acts as the governing body, and a group of data agents. They work collectively to create the standards and policies for governing data, and implementation and enforcement procedures that are primarily carried out by the data agents.

Market Dynamics:

Growing adoption of IoT in various sectors, such as IT & telecom, retail, and healthcare, is expected to boost the demand for data governance market. For instance, as per Cisco, there were more than 50 billion smart connected devices in the world by 2020. The data collected from these devices can be analyzed for customer transaction patterns. This information can help a company understand the productivity of its business products which offers lucrative opportunities for the growth of global data governance market.

On contrary, the lack of awareness regarding the data governance is expected to hamper the growth of global data governance market.

Key features of the study:

  • This report provides in-depth analysis of the global data governance market, and provides market size (US$ 2.06 Bn ) and compound annual growth rate (21.2%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global data governance market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Major companies operating the global data governance market are Collibra NV, SAP SE, SAS Institute Inc., Symantec Corporation (Norton Lifelock), TIBCO Software Inc., Informatica Inc., Alation Inc., IBM Corporation, Varonis Systems Inc., Alfresco Software Inc., Oracle Corporation, Talend SA and Microsoft Corporation.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global data governance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global data governance market.

Detailed Segmentation:

  • Global Data Governance Market, By Deployment
    • Cloud
    • On-premise
  • Global Data Governance Market, By Organization Size
    • Large-scale Business
    • Small- and Medium-scale Business
  • Global Data Governance Market, By Component
    • Software
    • Service
  • Global Data Governance Market, By Business Function
    • Operation and IT
    • Legal
    • Finance
    • Other Business Functions
  • Global Data Governance Market, By End User Industry
    • IT and Telecom
    • Healthcare
    • Retail
    • Defense
    • BFSI
    • Other End User Industries
  • Global Data Governance Market, By Geography
    • North America
    • Europe
    • Asia-Pacific
    • Latin America
    • Middle East & Africa
  • Company Profiles:
    • Collibra NV
    • SAS Institute Inc.
    • TIBCO Software Inc.
    • SAP SE
    • Alation Inc.
    • Alfresco Software Inc.
    • Informatica Inc.
    • Microsoft Corporation
    • Symantec Corporation (Norton Lifelock)
    • IBM Corporation
    • Oracle Corporation
    • Talend SA
    • Varonis Systems Inc.

Frequently Asked Questions

The global data governance market is estimated to be valued at US$ 2.34 Bn in 2022 and is expected to exhibit a CAGR of 21.2% between 2022 and 2030.
Rising regulatory and compliance mandates is anticipated to drive the growth of the market.
Health Care segment is the leading end user industry in the market.
Variation in data address validation is the key factor hampering the growth of the market.
Major companies operating the market are Collibra NV, SAP SE, SAS Institute Inc., Symantec Corporation (Norton Lifelock), TIBCO Software Inc., Informatica Inc., Alation Inc., IBM Corporation, Varonis Systems Inc., Alfresco Software Inc., Oracle Corporation, Talend SA and Microsoft Corporation.

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