The latest report by IMARC Group, titled “Data Governance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global data governance market report. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global data governance market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2028, exhibiting a growth rate (CAGR) of 19.5% during 2023-2028.
Data Governance Market Overview:
Data governance is a structured practice that ensures high data quality, management, and protection within an organization. To effectively manage and use data, entails putting rules, processes, and standards into practice. By establishing clear data usage, access, and security guidelines, data governance helps organizations maintain data consistency and integrity across various business functions.
It plays a vital role in data-driven decision-making, compliance with regulations, and the protection of sensitive information. Additionally, it is commonly used in industries such as healthcare, finance, retail, and technology, where the accurate handling and analysis of vast amounts of data are crucial. Its significance in aligning data management with business goals and legal requirements underscores its importance in the contemporary business environment.
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Data Governance Market Trends:
The global data governance market is witnessing robust growth, propelled by the rise in data generation and the necessity for data compliance and security. Along with this, there is an increase in the adoption of data governance strategies in various sectors, such as healthcare, finance, and technology, to ensure adherence to regulatory standards, such as GDPR. This, coupled with the rising demand for data governance to manage and analyze big data, ensures efficient operation and supports strategic business decisions.
In addition, the accelerating awareness about the benefits of maintaining data quality and integrity positively influences the market. Apart from this, the advent of advanced technologies, including Artificial Intelligence (AI) and Machine Learning (ML) in data governance is favoring the growth of the market. Furthermore, these technologies enable more sophisticated data analysis and management, thereby enhancing the effectiveness of data governance practices.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Adobe Inc
- Alation Inc.
- Amazon Web Services Inc. (Amazon.com Inc.)
- Collibra, Infosys Limited
- International Business Machines Corporation
- Microsoft Corporation
- MicroStrategy Incorporated
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Teradata Corporation
- TIBCO Software Inc.
- Varonis Systems Inc.
Key Market Segmentation:
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Business Function:
- Operation and IT
- Legal
- Finance
- Sales and Marketing
- Others
Breakup by Application:
- Incident Management
- Process Management
- Risk and Compliance Management
- Audit Management
- Data Quality and Security Management
- Others
Breakup by End-Use Industry:
- IT and Telecom
- Healthcare
- Retail
- Defense
- BFSI
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
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