Coherent Market Insights

Data Catalog Market is Estimated To Be Valued at US$ 4397.75 Mn By 2030

Data Catalog Market is Estimated To Be Valued at US$ 4397.75 Mn By 2030 - Coherent Market Insights

Publish In: Aug 08, 2022

The metadata people need today is more affluent than the metadata of the BI era. The data catalog first aims on the records and connects them with a wealth of information to inform the people who work with the data. A modern data catalog includes many features and functions that are based on the core capability of cataloging data.

Statistics:

The global data catalog market is estimated to account for US$ 771.24 Mn in terms of value by the end of 2022.

Drivers:

The global shift towards remote working and demand for the cloud has further intensified the demand for solutions that help in increasing the security and ease of work. This is expected to drive the growth of the global data catalog market. For instance, according to study by Sisense in 2021, about 55% of the companies surveyed have started to use data to improve efficacy, about 47% to support customers, and about 45% to predict future outcomes.

Opportunity:

The accelerated development of digitalization adds to the ever-growing global data sphere. Further, a surge in the investment in the AI-enabled data catalog solutions and an increase in automation technology is expected to create major opportunities in the data catalog market.

Recent Development:

In MARCH 2021, Collibra declared the adoption of QwIDQ, which employs ML to identify the anomalies in data. The combination of OwIDQ and Collibra Data Intelligence Cloud will offer the introduction of the new providing for the company. Also, as the OwIDQ will unite the data governance, catalog, lineage and the standard with the single cloud based system. Collibra is the targeting providing its enterprise users with extra capacities.

Restraint:

Rising issues in data security and privacy are expected to hinder the growth of the global data catalogs market during the forecast period. The increasing security breaches is expected to impede the growth of the global data catalog market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/data-catalog-market-5142

Global Data Catalog Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 outbreak has led to the need for several solutions that aid the enterprises in the data analytics have garnered the notable attention and a positive trend in acquirement. The global transition towards the remote working and requirement for the cloud has later intensified the need of solution that assist in progressing the security.

Key Takeaways:

The global data catalog market was valued at US$ 633.09 Mn in 2021 and is forecast to reach a value of US$ 4,397.75 Mn by 2030 at a CARG of 24.3% between 2022 and 2030.

Cloud held the dominant position in the global data catalog market in 2022, accounting for 61.2% share in terms of value, increasing approval and launch of new products is expected to propel the growth of the segment during the forecast period.

Market Trends/ Takeaways:

Trend 1:

As data catalogs allows easy and accurate access to data, security also has become a concerning factor. As a result, customers are more cautious about the security that a data catalog software provides, making self-service analytics safer. This is giving rise to multiple product integrations and introduction of new offerings in the market. The trend is expected to continue during the forecast period leading to increased competition among vendors.

Trend 2:

Catalogs that are natively developed on big data technology like Spark and Solr can scale process data within the entire enterprise. This is expected to boost the growth of the global data catalog market. For instance, a Waterline customer started with the Waterline data catalog for over 4 billion rows of data. Since Waterline utilizes existing Hadoop, Spark, and cloud infrastructure, it could scale up to handle larger volumes of data, comprising profiling and completing initial automated tagging in about 2 hours on 10 nodes. Upcoming companies are projected to follow this trend to stay in the competition.

Competitive Landscape:

Major companies involved in the growth of the global data catalog market are IBM Corporation, TIBCO Software Inc., Altair Engineering Inc., Microsoft Corporation, Oracle Corporation, Collibra NV, SAP SE, Tamr Inc., Alteryx Inc., Zaloni Inc., Hitachi Vantara LLC, Informatica Inc., Amazon Web Services Inc. and Alation Inc.

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