Data Governance Market - Growth, Trends, and Forecast (2019 - 2024)

The Data Governance Market is segmented by Deployment (Cloud and On-premise), Organisation Size (Large Scale Business and Small and Medium Scale Business), Component (Software and Service), Business Function (Operations and IT, Legal, and Finance), End User (IT and Telecom, Healthcare, Retail, Defence, and BFSI) and Geography.

Market Snapshot

Picture9
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

21.44%

Key Players:

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Market Overview

The data governance market is expected to register a CAGR of over 21.44%, during the forecast period, 2019 - 2024, and it is expected to reach a value of USD 4.35 billion by 2024. The amount of data created by devices is nearly 100 times greater than the amount of data stored, according to the Cisco Global Cloud Index. According to Forbes, there are 2.5 quintillion bytes of data created each day at the current pace, but that pace is only accelerating the growth of the Internet of Things (IoT). 

  • According to the Aureus Analytics report, the world's data volume is expected to grow by 40% per year and 50 times by 2020. Human and machine-generated data are experiencing an overal growth of data, 10 times larger than traditional business data. With the growing new technologies, such as IoT and the artificial intelligence companies, such as Walmart, are adopting data governance solutions to ensure enterprise data is authorized and organized in a database, with as few errors as possible while maintaining, both privacy and security.
  • Growing regulatory and compliance mandates are also expected to boost the demand for the data governance market. One such example is GDPR (General Data Protection Regulation), which was passed into UK law through the Data Protection Act 2018, that strengthens data protection provisions for all European Union data subjects. The regulation was enforced in May 2018.
  • According to EOL IT Services, the biggest challenges in Data Governance for 2018 is employee compliance, ie, ensuring that employees comply with overall data strategy, something often borne out by a lack of understanding rather than a lack of desire.

Scope of the Report

Financial institutions constantly face challenges related to data quality, accessibility, and data security. Data governance solutions help these institutions to handle such challenges with effective data management solutions that can prevent data duplication and data loss. Moreover, data governance solutions help BFSI firms to maintain an edge in the market, with constant updates to their policies and procedures. Apart from finance, other businesses, like Operation, IT, and Legal also make use of these solutions. 

By Deployment
Cloud
On-premise
By Organisation 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 End User
IT and Telecom
Healthcare
Retail
Defence
BFSI
Other End Users
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Healthcare Sector Leads the Market in Europe and North America Region

  • IoT has a lot of applications in healthcare, from remote monitoring to medical device integration. It also has the potential to not only keep patients healthy and safe but also to improve how physicians deliver care, as well. 
  • But, IoT also brings along with it the need for data governance for the healthcare sector, as the industry struggle with the massive amount of data produced by sensors, wearables, remote monitors, and other medical devices.
  • According to European Telecommunications Network Operators' Association (ETNO), the number of IoT units in healthcare in the European Union (EU) is expected to increase year-on-year. 
  • The US healthcare regulation, HIPAA, provides protection over patients' data. Securing patients’ private medical history and health records are of the utmost importance within the healthcare market.
Picture16

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Asia-Pacific to be the Fastest Growing Market

  • The region of Asia-Pacific is projected to be the fastest-growing region for the data governance market, owing to the growing technology expenditures in economies, such as China, India, Singapore, and Australia. The demand for cost-effective data management and governance solutions and services among small- and medium-sized enterprises (SMEs) are further driving the demand for the data governance market in the region. 
  • Solidatus, a provider of a data lineage and business relationship mapping solution, opened an office in Singapore to address the demand in the Asia-Pacific region markets.
  • With vast amounts of data being created every day, Japanese Prime Minister, Shinzo Abe, declared, in February 2019, that the next G-20 summit should wrestle with how to manage that digital information. 
  • The General Data Protection Regulation (GDPR) is causing Asia-Pacific to reassess their data strategy and ensure they can earn the trust of consumers who are increasingly wary of how their data is being used.
Data Governance map

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Competitive Landscape

As data governance is the key to delivering trust and compliance, every organization needs to derive real value from its data. The market is fragmented with the companies entering into strategic mergers and acquisitions, to leverage the growing demand for data governance solutions.

  • April 2019 - Computer scientists from the ADAPT center, an SFI research center, are partnering with Collibra, a leader in enterprise data governance and catalog software, to develop innovative ways to estimate and monitor the values of data to a business. 
  • April 2019 - TIBCO Software Inc., a global leader in integration, API management, and analytics, announced its collaboration with Singapore Polytechnic (SP) to expand data analytics and Internet of Things (IoT) knowledge in the region, supporting Singapore’s mission to nurture local entrepreneurs.

Major Players

  1. Collibra Inc.
  2. SAS Institute Inc.
  3. TIBCO Software Inc.
  4. SAP SE
  5. Alation Inc.

* Complete list of players covered available in the table of contents below

data governance comp

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Rising Regulatory and Compliance Mandates

      2. 4.3.2 Increasing Growth of Data Volume to Provide Immense Opportunity

    4. 4.4 Market Restraints

      1. 4.4.1 Varying Structure of Regulatory Policies and Data Address Validation

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/ Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Deployment

      1. 5.1.1 Cloud

      2. 5.1.2 On-premise

    2. 5.2 By Organisation Size

      1. 5.2.1 Large Scale Business

      2. 5.2.2 Small and Medium Scale Business

    3. 5.3 By Component

      1. 5.3.1 Software

      2. 5.3.2 Service

    4. 5.4 By Business Function

      1. 5.4.1 Operation and IT

      2. 5.4.2 Legal

      3. 5.4.3 Finance

      4. 5.4.4 Other Business Functions

    5. 5.5 By End User

      1. 5.5.1 IT and Telecom

      2. 5.5.2 Healthcare

      3. 5.5.3 Retail

      4. 5.5.4 Defence

      5. 5.5.5 BFSI

      6. 5.5.6 Other End Users

    6. 5.6 Geography

      1. 5.6.1 North America

      2. 5.6.2 Europe

      3. 5.6.3 Asia-Pacific

      4. 5.6.4 Latin America

      5. 5.6.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Collibra Inc.

      2. 6.1.2 SAS Institute Inc.

      3. 6.1.3 TIBCO Software Inc.

      4. 6.1.4 SAP SE

      5. 6.1.5 Alation Inc.

      6. 6.1.6 Alfresco Software Inc.

      7. 6.1.7 Informatica Corporation

      8. 6.1.8 Symantec Corporation

      9. 6.1.9 IBM Corporation

      10. 6.1.10 Oracle Corporation

      11. 6.1.11 Talend Inc.

      12. 6.1.12 Varonis Systems Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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