Global Data Governance Market Report 2022


Key Players of Data Governance Market are IBM Corporation, Oracle, Collibra, Informatica, Talend, TopQuadrant, Alation, TIBCO Software Inc., Varonis, Data Advantage Group, Ataccama, Global Data Excellence, Global IDs, Microsoft Corporation, Adobe Inc, Datum LLC, Infosys Limited, Microfocus, Denodo Technologies and Amazon Web Services Inc.

New York, June 06, 2022 (GLOBE NEWSWIRE) — announces the publication of the “Data Governance Global Market Report 2022” –

The global data governance market is expected to grow from $2.62 billion in 2021 to $3.28 billion in 2022 at a compound annual growth rate (CAGR) of 24.9%. The data governance market is expected to reach $7.42 billion in 2026 with a CAGR of 22.7%.

The data governance market includes sales of data governance solutions and services by entities (organizations, individual merchants and partnerships) that refer to the process of managing the availability, usability, integrity and information security in business systems, based on internal data. data standards and policies that control the use of data. Data governance describes the people, processes and technologies needed to manage and protect corporate data assets to ensure that corporate data is generally understandable, correct, complete, trustworthy, secure and detectable.

Data governance ensures that roles associated with data are clearly defined so that responsibility and accountability are specified across the enterprise.

The main types of data governance components are solutions and services. Data governance solutions refer to a strategic, continuous and collaborative practice that enables organizations to discover and track data, understand what it means in a business context and maximize its security, quality. and value.

Data governance solutions and tools help organizations understand, secure and trust their data. The solutions are deployed in on-premise mode and in cloud mode by small and medium enterprises (SMEs), large enterprises.

Different applications include incident management, process management, compliance management, risk management, audit management, data quality and security management, and other applications used by BFSI , Retail & Consumer Goods, Telecom & IT, Government, Healthcare, Manufacturing, Energy & Utilities, Transportation & Logistics, Other Industry Verticals.

North America was the largest region in the data governance market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.

Regions covered in Data Governance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rapid growth in data volumes is contributing to the growth of the data governance market. The growing number of data-generating devices, such as smartphones, wearable electronics, and a host of other sensor-enabled gadgets, the popularity of cloud computing, and the impending adoption of 5G are all contributing to the exponential growth. of data volume.

Data governance improves data quality, reduces data management expenses, and increases access for data scientists, other analysts, and business users to needed data. For example, according to FinancesOnline, a US-based SaaS platform provider, there were 74 zettabytes of total data in the world by the end of 2021.

Additionally, 1.145 trillion MB of data is created every day in 2021. Hence, the rapid growth in data volumes is expected to fuel the growth of the data governance market in the future.

Strategic partnerships and collaborations have emerged as the key trends gaining popularity in the data governance market. Developing an effective data governance program will require collaboration and cooperation between multiple organizations in the business.

Chief among them are the security and analytics teams. For example, in 2021, Axtria, an American provider of cloud software and data analytics company, partnered with Reltio for an undisclosed amount.

This collaboration will leverage Axtria’s experience to strategically modify its sales and marketing processes through competitive insights and predictive analytics. scaled time data.

Additionally, in June 2020, Erwin Inc., a U.S.-based company that provides data modeling, data governance, and business process modeling software, partnered with Mikan associates for an amount not disclosed. This partnership helps organizations adopt data governance solutions. Mikan Associates is a US-based company that provides impactful, measurable data, analytics, and AI-powered solutions.

In January 2021, Quest Software, a US-based software company, acquired Erwin for an undisclosed amount. This acquisition will expand Quest’s presence in the developing data management and DataOps industries.

Erwin is a US-based company that provides data modeling, data governance, and business process modeling software.

The countries covered in the Data Governance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea , the United Kingdom and the United States.

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