Data Catalog Market to Witness Heightened Revenue Growth in the Next Decade
Posted by Ashish on April 30th, 2021
According to research report "Data Catalog Market by Component (Solution and Service), Deployment Mode (Cloud and On-Premises), Data Consumer (BI Tools, Enterprise Applications, Mobile and Web Applications), Enterprise Size, End-User, and Region - Global Forecast to 2022", published by MarketsandMarkets, the global data catalog market size is expected to grow from USD 210.0 Million in 2017 to USD 620.0 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 24.2% during the forecast period. Data proliferation and an increasing adoption of self-service analytics are some of the major driving factors for the data catalog market. Furthermore, the increasing demand for intelligent business processes and growing innovation across end-use industry verticals are expected to provide growth opportunities for the market.
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Integrated solution segment is expected to grow at the highest CAGR in the global data catalog market during the forecast period
Many enterprises store large volumes of structured and unstructured data at internal as well as external systems; a quick access to the data stored at disparate sources has become important to gain better insights for making business-related decisions. To achieve these benefits, enterprises are deploying integrated solutions that provide various benefits to the data users with a single solution. Benefits include improved data quality, optimization of individual productivity, eradication of data duplication and silos, and simplified data discovery.
The Business Intelligence (BI) tools segment is expected to hold the largest market size during the forecast period
The demand for data consumers is growing with the evolution of data catalog technology. BI tools, in particular, are expected to grow at the highest CAGR during the forecast period. Solutions offered by vendors need to be integrated to avail industry’s best practices for data catalog solutions. The market for BI tools is expected to hold largest market size owing to the increasing need for deployment of data catalog solutions either in the cloud or on-premises.
North America is expected to hold the largest market share during the forecast period
North America is the most competitive and rapidly changing data catalog market in the world. The region has witnessed high adoption of data catalog solutions, due to the increasing demand for BI tools and higher adoption of digital technologies. The US and Canada are projected to extensively implement data catalog solutions. Hence, North America is expected to hold the largest market size in the global data catalog market during the forecast period.
Major vendors in the global data catalog market are IBM (US), Informatica (US), Amazon Web Services (US), Alteryx (US), Collibra (Belgium), Alation (US), Microsoft (US), TIBCO Software (US), Datawatch Corporation (US), Waterline Data (US), Zaloni (US), and Tamr (US).
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About the AuthorAshish
Joined: September 20th, 2019
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