Report ID:
SQMIG45A2405 |
Region:
Global |
Published Date: December, 2024
Pages:
188
|Tables:
0
|Figures:
0
Global Data Catalog Market size was valued at USD 736.2 Million in 2022 and is poised to grow from USD 907.00 Million in 2023 to USD 4813.85 Million by 2031, growing at a CAGR of 23.2% in the forecast period (2024-2031).
The market is predicted to grow rapidly throughout the forecast period owing to the increasing use of data in many BI tools and increasing adoption of digital technologies in industries such as BFSI, healthcare, telecommunications and IT, and in manufacturing. It has also emerged as a leader in technological development. Product releases are one of the main techniques used by market players. In need of BI tools to develop a deep level of expertise and produce effective results, they are supplied with enormous amounts of data.
Additionally, data visualization approaches that create a narrative can have significant advantages once the data cataloging system has been established. Modern data catalogs gather metadata from numerous data sources, such as cloud object storage, data lakes, data warehouses, and NoSQL databases. The more sophisticated digital workplace platforms provide data catalog features to offer a source of reliable information.
The increasing demand for data aggregation and optimization tools across various industries. Various factors such as rapid growth in data volumes, rising need for cataloging and easy identification of data, and surging adoption of cloud-based technologies are expected to drive the demand for data catalog solutions. Additionally, increasing investments by companies in big data and analytics solutions will further propel the data catalog market growth.
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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Global data catalog market is segmented by deployment, component, industry, enterprise type and region. Based on deployment, the market is segmented into clouds and on-premises. Based on industry, the market is segmented into BFSI, healthcare, manufacturing, retail, IT, and others (education, media & entertainment, and others). Based on component, the market is segmented into solutions and services. Based on enterprise type, the market is segmented into large enterprises and SMEs. Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Analysis by Component
As per the data catalog market analysis, the solution segment projected the highest revenue share of over 79% in 2022 and the segment is anticipated to hold the maximum share throughout the forecast period. A data catalog solution is a cooperative workspace for various data users to explore an enterprise's data environment. Users can discover, understand, and trust an organization's data assets owing to a data catalog solution. Tables, BI dashboards, views, columns, ETL logs, categories, SQL queries, and notebooks are a few instances of data assets. As data volumes surge across industries, traditional data storage and tracking methods are proving inefficient and inadequate.
The services segment is estimated to grow significantly over the forecast period. By utilizing metadata management services, a business improves the quality of its data while enabling better visibility and traceability. Most data catalog services offer a lineage of data across platforms, pipelines, datasets, graphs, dashboard services, summary statistics, and tagging and documenting skills. For instance, in July 2020, Compact Solutions was acquired by Informatica to increase the company's capacity for extended metadata processing. The acquisition reinforces Informatica's current position in automation and AI powered by metadata. By comprehending and prioritizing all data and determining how it should be handled and transferred, Informatica Enterprise Data Catalog, with the advanced metadata connectivity from Compact Solutions, will speed up analytics, data governance, privacy, and data warehouse modernization activities.
Analysis by Deployment
As per the data catalog market outlook, the on-premises segment is the dominant during the forecast period. Organizations using on-premises infrastructure can achieve data security and regulatory compliance at a lower cost. Cloud-based software providers must invest heavily in security measures and compliance certifications. However, demand for on-premises deployment is expected to witness a drastic decline in the forecast years due to the high cost associated with it. In addition to the initial capital expenditure needed to buy servers and other gear, organizations must also spend money to upgrade or repair the system. Hardware often breaks down and needs to be replaced, and as replacements need to be done annually, additional costs also increase.
The cloud segment held the largest data catalog market share in 2023 and is expected to grow at the highest CAGR during the forecast period. It offers scalability that accommodates growing data volumes and evolving business needs. Adoption of cloud-based data catalog solutions, the cloud can scale up or down based on demand, allowing organizations to manage diverse and expanding datasets effectively. These advantages include reduced operational expenses, straightforward deployments, and greater scalability in networked resources. Cloud-based solutions provide a comprehensive set of transformation procedures to achieve business goals. They also give businesses using real-time analysis more operational freedom and simplify real-time deployment. For instance, TIBCO Software, AWS, and IBM are significant cloud data catalog solution providers.
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North America currently dominates the market owing to heavy investments in data management technologies by established players across industries in the region. However, over the coming years. This is primarily due to strong presence of leading technology companies and top data catalog vendors in countries like the U.S. The region is an early adopter of data catalog solutions driven by growing data volumes and focus on data governance. Furthermore, the presence of large enterprises from various sectors who appreciate value of data-driven decision making has propelled investments in data catalog platforms.
Asia Pacific is expected to offer lucrative opportunities for data catalog vendors. This is because of the growing digital transformation initiatives coupled with rapid economic development in countries such as China and India. There is also a rise in big data analytics adoption across APAC industries which will drive the need for data cataloging. Security and privacy concerns around data sharing may pose a challenge to the market growth to some extent. Growing number of local data vendors are also addressing demand from price-sensitive smaller enterprises, propelling market expansion. Rising industries like e-commerce and financial services relying heavily on consumer data further bolsters the regional market growth.
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Drivers
Rising Demand for Data Discovery and Governance
Rise of Self-service Analytics
Restraints
Complex Implementation
Complexity of Integration with Existing Systems
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Notable companies have adopted product launches and growth as their primary business strategy to increase their market share, followed by expansions, mergers and acquisitions, alliances, agreements and discoveries. Companies are acquiring early data catalog suppliers with more extensive product lines. For instance, in January 2020, Hitachi Vantara bought Waterline. Integrating Waterline Data technology with Hitachi Vantara's Lumada Data Services lineup will make a common metadata framework available to customers to mitigate data silos dispersed throughout the data center, cloud, and machines and devices at the edges of their networks.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the data catalog industry is rapidly growing which is driven by the increasing demand for effective data management solutions in organizations. A data catalog provides a central location for organizing, discovering and managing enterprise data assets, and enables businesses to increase data access and governance. The market is seeing significant growth due to the adoption of increasingly big data, cloud-based services and the increasing need for compliance with stricter data privacy regulations. Increasing data-driven decision making, coupled with significant growth in data generation across industries is the major driver of the market. Despite its advantages, the market faces challenges such as high initial implementation costs, difficulty in integrating data catalogs with existing systems etc. Furthermore, organizations often lack the technical expertise a to monitor and use these tools effectively, especially among SMEs. The application of AI and machine learning to the use of data inventories is emerging as a key trend.
Report Metric | Details |
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Market size value in 2022 | USD 736.2 Million |
Market size value in 2031 | USD 4813.85 Million |
Growth Rate | 23.2% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Data Catalog Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Catalog Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Catalog Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Catalog Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45A2405
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