Global Data Governance Market 2022 - Industry Briefing

Data Governance Market 

Gen Consulting Company predicts global data governance market will grow from USD 1,845 million in 2021 to USD 5,543 million by 2028, achieving a CAGR of 17.6 percent, according to the latest edition of the Global Data Governance Market Report. Data governance market growth is expected to be significantly influenced by rising concerns about preserving high data quality and heritage throughout an organization's data life cycle as well as consumer risks related to BI and analytics.

The expansion of AI applications, rising regulatory enforcement coupled with data privacy concerns, and the rising demand to remove client risks are a few additional factors that could restrain the growth of the data governance market throughout the course of the aforementioned research period.

Trends Influencing the Growth of the Data Governance Market

Demand for the data governance market is also predicted to be driven by growing IoT adoption across a number of industries, including IT & telecom, retail, and healthcare. Analyzing the information obtained from these devices allows one to identify trends in customer transaction patterns. Demand for the market under research is expected to be further fueled by the deployment of IoT devices and applications in a variety of end-user industries.

Data governance solutions also help banks and financial organizations increase operational efficiency, automate processes, improve customer satisfaction, more precisely detect fraud, and promote corporate growth. Data governance solutions support these organizations in solving these problems with effective data management methods that can lessen data loss and duplication. Additionally, by continuously updating their policies and procedures, data governance solutions help organizations like the BFSI, which deal with enormous amounts of private and personal data, maintain a competitive advantage in the market. The market for data governance will develop as a result of this aspect. 

Furthermore, as a result of expanding investments in healthcare, particularly in IT infrastructure, data output in hospitals has significantly expanded. Therefore, in order to effectively manage, watch over, and understand the enormous amounts of data being produced, these hospitals need an information governance framework. The market for data governance will develop as a result of this aspect.

Data Governance Market Share

North America will have the greatest market size over the projection period. The region that has contributed the most to the size of the data governance industry, according to estimations, is North America. It is a developed region in terms of the application of cybersecurity technology and global security. Government activity has increased recently as a result of the continued need to protect sensitive data and critical communication infrastructure.

By Type

• Software
• Services

The software segment held the largest share of the global data governance market in 2021 and is anticipated to hold its share during the forecast period.

Business Function 

• Operation and IT,
• Legal,
• Finance

Globally, the finance segment made up the largest share of the data governance market.

Depoloyment Mode

• Cloud-based
• On-premise.

The cloud-based segment was the largest contributor to the global data governance market in 2021.

Organization Type

• Large enterprises
• Small and Medium-sized enterprises (SMEs).

The large enterprises segment is estimated to account for the largest share of the global data governance market.

By End User

• BFSI, Government and Defense,
• Healthcare,
• IT and Telecom,
• Retail

The data governance market by region can be segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America.

Leading Companies

• Adaptive Inc.,
• Alation Inc.,
• Alex Solutions Pty. Ltd.,
• Alfresco Software Inc.,
• Ataccama Corporation,
• IBM Corporation,
• Innovative Routines International (IRI) Inc.,
• LTIMindtree Limited,
• Micro Focus International plc,
• Microsoft Corporation,
• NortonLifeLock Inc.,
• Oracle Corporation,
• Precisely Holdings LLC,
• Quest Software Inc.,
• Reltio Inc.,
• SAP SE,
• SAS Institute Inc.,
• Talend S.A.,
• TIBCO Software Inc.,
• TopQuadrant Inc.,
• Varonis Systems Inc.

Scope of Data Governance Market Report

Part 1. Summary

Part 2. Introduction

• Study period
• Geographical scope
• Market segmentation

Part 3. Data governance market overview

Part 4. Market breakdown by component

• Software
• Services

Part 5. Market breakdown by business function

• Operation and IT
• Legal
• Finance
• Others

Part 6. Market breakdown by deployment mode

• Cloud-based
• On-premise

Part 7. Market breakdown by organization size

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

Part 8. Market breakdown by end user

• BFSI
• Government and defense
• Healthcare
• IT and telecom
• Retail
• Others

Part 9. Market breakdown by region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America

Part 10. Key companies

• Adaptive, Inc.
• Alation Inc.
• Alex Solutions Pty. Ltd.
• Alfresco Software Inc.
• Ataccama Corporation
• IBM Corporation
• Innovative Routines International (IRI), Inc.
• LTIMindtree Limited
• Micro Focus International plc
• Microsoft Corporation
• NortonLifeLock Inc.
• Oracle Corporation
• Precisely Holdings, LLC
• Quest Software Inc.
• Reltio, Inc.
• SAP SE
• SAS Institute Inc.
• Talend S.A.
• TIBCO Software Inc.
• TopQuadrant, Inc.
• Varonis Systems, Inc.

Part 11. Methodology

Table & Figures