The Global Data Governance Market size is expected to reach $15.4 billion by 2031, rising at a market growth of 20.5% CAGR during the forecast period.
In 2023, the manufacturing segment held a promising growth rate in the market. The industry is transforming digitally by adopting IoT, AI, big data analytics, and cloud computing technologies. These technologies generate vast amounts of data from manufacturing processes, equipment, and supply chain operations. Therefore, the manufacturing segment makes a 6.38% revenue share in 2023. Data management is essential to effectively managing and governing this data, ensuring its quality, integrity, and security while leveraging it for actionable insights and decision-making.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In February, 2024, Informatica Inc. launched Informatica Cloud Data Access Management (CDAM). This product launch is part of a holistic data access and governance solution on IDMC. Additionally, In March, 2024, SAP SE announces the expansion of generative AI and data governance features for SAP Datasphere and SAP Analytics Cloud to enhance enterprise-wide access to data and insights.
The explosion of digital data in recent years, often called big data, has overwhelmed traditional data management approaches. Massive amounts of structured and unstructured data from various sources, including social networks, IoT devices, sensors, and transaction systems, challenge organizations. Hence, the increasing volume and complexity of data is driving the market’s growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies to cater to demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
The Market is highly competitive, driven by a diverse range of players like IBM Corporation, SAS Institute, Inc., and Ataccama group competing on innovation, global reach, and industry partnerships. Companies strive to develop advanced solutions to manage data effectively, often through mergers, acquisitions, and strategic alliances. Intense competition fosters rapid innovation and drives the evolution of governance solutions to meet the growing demands of businesses in the digital age.
In 2023, the manufacturing segment held a promising growth rate in the market. The industry is transforming digitally by adopting IoT, AI, big data analytics, and cloud computing technologies. These technologies generate vast amounts of data from manufacturing processes, equipment, and supply chain operations. Therefore, the manufacturing segment makes a 6.38% revenue share in 2023. Data management is essential to effectively managing and governing this data, ensuring its quality, integrity, and security while leveraging it for actionable insights and decision-making.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In February, 2024, Informatica Inc. launched Informatica Cloud Data Access Management (CDAM). This product launch is part of a holistic data access and governance solution on IDMC. Additionally, In March, 2024, SAP SE announces the expansion of generative AI and data governance features for SAP Datasphere and SAP Analytics Cloud to enhance enterprise-wide access to data and insights.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal Matrix; IBM Corporation, Oracle Corporation and SAP SE are the forerunners in the Market. In May, 2023, IBM Corporation launched IBM Watsonx. The new product, Watsonx, is a new platform to be released for foundation models and generative AI, offering a studio, data store, and governance toolkit. Companies such as Informatica Inc., Collibra, Inc., Varonis Systems, Inc. are some of the key innovators in Market.
Market Growth Factors
Organizations are realizing the value of data security due to the widespread occurrence of data breaches in several industries. High-profile breaches have led to massive financial losses, damaged reputations, and legal consequences for companies. By centralizing control and visibility over data access and usage, organizations can better protect themselves against cyber threats. Therefore, growing data security concerns are driving the growth of the market.The explosion of digital data in recent years, often called big data, has overwhelmed traditional data management approaches. Massive amounts of structured and unstructured data from various sources, including social networks, IoT devices, sensors, and transaction systems, challenge organizations. Hence, the increasing volume and complexity of data is driving the market’s growth.
Market Restraining Factors
When organizational leadership does not prioritize data governance, securing adequate funding and resources for governance initiatives becomes challenging. Without sufficient investment, organizations may struggle to implement the necessary tools, technologies, and personnel for effective governance, hindering the scalability and sustainability of their programs. Without clear alignment between governance objectives and broader organizational goals, decision-makers may deprioritize governance initiatives, leaving them underfunded and understaffed. Therefore, a lack of organizational buy-in is hampering the market’s growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies to cater to demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
By Application Analysis
On the basis of application, the market is segmented into risk management, incident management, process management, audit management, compliance management, data quality & security management, and others. In 2023, the process management segment procured an 18.27% revenue share in the market. With the exponential growth of data volumes and sources, organizations are dealing with increasingly complex data ecosystems. Managing data across disparate systems, applications, and departments requires robust process management capabilities to ensure data quality, consistency, and compliance with regulatory requirements.By Deployment Mode Analysis
By deployment mode, the market is divided into on-premises and cloud. In 2023, the on-premises segment procured a 44.44% revenue share in the market. Numerous enterprises, particularly those operating within tightly regulated sectors like finance, healthcare, and government, are subject to stringent security and compliance mandates necessitating the retention of sensitive data within their premises. By opting for on-premises deployment, these organizations retain comprehensive control over their data, ensuring adherence to regulatory standards while minimizing the potential for data breaches or unauthorized access.By Organization Size Analysis
On the basis of organization size the market is segmented into large enterprises and small & medium enterprises. The small & medium enterprises segment garnered a 30.85% revenue share in the market in 2023. Small and medium enterprises are increasingly dealing with complex and diverse data ecosystems, including customer data, operational data, financial data, and marketing data. As the volume and variety of data sources grows, SMEs face challenges related to data quality, consistency, and reliability, driving the need to ensure data integrity and usability.
By Vertical Analysis
Based on vertical, the market is divided into BFSI, government, energy & utilities, healthcare & lifesciences, transportation & logistics, manufacturing, retail & consumer goods, telecom & IT, and others. The healthcare and life sciences segment garnered an 11.25% revenue share in the market. The life sciences industry relies on governance to manage and govern data generated from clinical trials, research studies, and drug development processes. Data management ensures research data’s quality, integrity, and reproducibility, supporting evidence-based decision-making and regulatory submissions.By Offering Analysis
Based on offering, the market is divided into solutions and services. In 2023, the services segment attained a 25.70% revenue share in the market. Many organizations lack the internal resources and skills to design, implement, and maintain effective governance initiatives. As a result, they turn to service providers that offer consulting, implementation, and managed services to help them navigate the complexities of governance implementation and ensure successful outcomes.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 36% revenue share in the market in 2023. North America is a hub for technological innovation, with many technology companies, research institutions, and startups driving advancements in data analytics, artificial intelligence, and cloud computing. As organizations in North America embrace digital transformation initiatives and invest in modern data-driven technologies, there is a growing recognition of the importance of governance to ensure data quality, integrity, and security across the organization.Market Competition and Attributes
The Market is highly competitive, driven by a diverse range of players like IBM Corporation, SAS Institute, Inc., and Ataccama group competing on innovation, global reach, and industry partnerships. Companies strive to develop advanced solutions to manage data effectively, often through mergers, acquisitions, and strategic alliances. Intense competition fosters rapid innovation and drives the evolution of governance solutions to meet the growing demands of businesses in the digital age.
Recent Strategies Deployed in the Market
- Mar-2024: SAP SE came into partnership with Collibra Inc., a provider of data intelligence, to address the AI governance needs of customers. Through this partnership, SAP SE will offer enterprises a business data fabric architecture that can govern SAP and non-SAP data, delivering trusted data to all users no matter where it resides.
- Feb-2024: Collibra, Inc. launched Collibra AI Governance, a new product that enables organizations to deliver trusted AI safely and effectively. Through this product launch, the company will provide data security in AI.
- Feb-2024: Ataccama Group launched Ataccama ONE v15, the latest version of its unified platform, which enables enterprises to develop a high-quality data environment. Through this launch, the company will focus on managing their data and delivering value to the business by managing and sharing trustworthy data.
- Jan-2024: Varonis Systems, Inc. announced the expansion of its cloud-native platform with data security posture management (DSPM) for Snowflake. Through this expansion, the company will expand its coverage of critical data stores and secure the data.
- Sep-2023: Informatica Inc. announced geographical expansion with the creation of an Oracle Cloud Infrastructure (OCI) point of delivery to thousands of joint customers across North America by advancing their strategic partnership with Oracle. Through this expansion, the company will enhance data governance integrations for thousands of joint customers by announcing the launch of a North American point of delivery.
List of Key Companies Profiled
- IBM Corporation
- Oracle Corporation
- Informatica Inc.
- SAP SE
- SAS Institute, Inc.
- TIBCO Software, Inc. (Vista Equity Partners Management, LLC)
- Collibra, Inc.
- QlikTech International AB (Talend, Inc.)
- Varonis Systems, Inc.
- Ataccama group
MarketReport Segmentation
By Offering
- Solution
- Services
By Application
- Risk Management
- Process Management
- Incident Management
- Audit Management
- Compliance Management
- Data Quality & Security Management
- Others
By Deployment Mode
- Cloud
- On-premise
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Vertical
- BFSI
- Government
- Energy & Utilities
- Healthcare & Lifesciences
- Transportation & Logistics
- Manufacturing
- Retail & Consumer Goods
- Telecom & IT
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Data Governance Market by Offering
Chapter 6. Global Data Governance Market by Application
Chapter 7. Global Data Governance Market by Deployment Mode
Chapter 8. Global Data Governance Market by Organization Size
Chapter 9. Global Data Governance Market by Vertical
Chapter 10. Global Data Governance Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- IBM Corporation
- Oracle Corporation
- Informatica Inc.
- SAP SE
- SAS Institute, Inc.
- TIBCO Software, Inc. (Vista Equity Partners Management, LLC)
- Collibra, Inc.
- QlikTech International AB (Talend, Inc.)
- Varonis Systems, Inc.
- Ataccama group
Methodology
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