Data Governance Market to Reach US$8.94 Billion by 2027

Data Governance Market

According to the latest report by IMARC Group, titled “Data Governance Market: Global Industry Trends, Share, Size, Growth, Opportunities, and Forecasts 2022-2027”, the global data governance market has reached a value of $2.63 billion in 2021. Going forward, IMARC Group expects the market to reach US$8.94 billion by 2027, growing at a CAGR of 21.50% during the period 2022-2027. Data governance involves a set of processes, policies, and roles to formally manage and protect critical information. Its deployment ensures data consistency and reliability while providing clarity on conflicting data, resolving analytical data and reporting issues. The demand for data governance has gradually increased to ensure data security in light of strict regulatory compliance.

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Global Data Governance Market Trends:

The global market is mainly driven by a huge increase in data generation. This, in conjunction with the growing implementation of stringent data regulatory compliance across many industries, is providing impetus for the growth of the market. Furthermore, the extensive use of data governance in the telecommunications, information technology (IT) and retail sectors has significantly contributed to the growth of the market. Moreover, effective data governance is an integral part of the government sector as it enables better access to data and increases overall efficiency and accountability, thereby driving the growth of the market. In addition to this, growing incidences of misuse of data by several private organizations and rising cyber security threats have intensified the requirement for data governance, which is expected to create favorable market prospects.

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Analysis and segmentation of the global data governance market 2022-2027:

Competitive landscape with key players:

The competitive landscape of the industry has also been reviewed, along with the profiles of key players, namely:

• Adobe Inc.
• Alation Inc.
• Amazon Web Services Inc. ( Inc.)
• Collibra, Infosys Limited
• International Commercial Machinery Society
• Microsoft Corporation
• MicroStrategy Embedded
• Oracle Corporation
• SAS Institute Inc.
• Teradata Corporation
• TIBCO Software Inc.
• Varonis Systems Inc.

Breakdown by component:

• Software
• Services

Breakdown by deployment mode:

• Cloud-based
• On the site

Breakdown by organization size:

• Small and medium-sized enterprises (SMEs)
• Large companies

Breakdown by business function:

• Operation and IT
• Legal
• Finance
• Sales and Marketing
• Others

Breakdown by application:

• Incident management
• Process management
• Risk and compliance management
• Audit management
• Data quality and security management
• Others

Breakdown by end-use industry:

• IT and Telecom
• Health care
• Detail
• Defense
• Others

Breakdown 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, others)

Main highlights of the report:

• Market performance
• Market outlook
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Complete mapping of the competitive landscape

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