According to market research
report "Data Governance Market by Component, Deployment Model,
Organisation Size, Application (Risk Management, Incident Management, and
Compliance Management), Vertical (Manufacturing, Healthcare and BFSI), and
Region - Global Forecast to 2025", published by MarketsandMarkets™, size is
expected to grow from USD 2.1 billion in 2020 to USD 5.7 billion by 2025, at a
Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period. Due to
the rapidly increasing growth in data volumes, rising regulatory and compliance
mandates, and enhancing strategic risk management and decision-making with the
increasing business collaborations are expected to drive the growth of the data
governance market.
Browse and in-depth TOC on “Data
Governance Market”
316
- Tables
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316
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The risk management
application segment is expected to have the largest market share during the
forecast period.
The solution providers of
the risk management application deliver significant value to businesses by
ensuring their important financial data assets are formally managed throughout
enterprises. These vendors provide automated risk management solutions to mitigate
risks and align critical-business processes with the help of functions, such as
managing IT security-based compliance mandates, including ISO 27001, and
providing automated risk notifications. Risk management application and
solution providers have the potential to deliver significant outcomes and
reshape organizations’ businesses by providing automated solutions across
multiple industry verticals.
The Banking, Financial
Services, and Insurance (BFSI) industry vertical is expected to dominate the market,
whereas the retail and consumer goods industry vertical is expected to grow at
the highest CAGR during the forecast period.
The Banking, Financial
Services, and Insurance (BFSI) industry vertical has realized the significance
of data management and governance, which help govern and secure multiple
transactions in organizations. Financial institutions constantly face
challenges, such as data quality and accessibility, and data security. Data
governance solutions help these institutions and banks handle such challenges
with effective data management solutions that can prevent data duplication and
data loss. Moreover, data governance solutions help BFSI firms maintain an edge
in the market, with constant updates to their policies and procedures.
North America is expected
to hold the largest market share, while Asia Pacific (APAC) is expected to grow
at the highest CAGR during the forecast period.
The global Data
Governance Market has been segmented on the basis of regions that include North
America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin
America. North America is expected to hold the largest market size and
continues to dominate the global Data Governance Market from 2020 to 2025, due
to the significant adoption of data governance and management solutions and the
presence of a large number of vendors in the US. Enterprises in this region
have quite well-established processes and the high-levels of technology
awareness. The risk management and data management capabilities of these
organizations are also high as compared to that of organizations in other
regions. The increasing penetration rate in multiple industry verticals, such
as BFSI, retail and consumer goods, IT and Telecommunications, and healthcare
and life sciences, are expected to drive the market growth. APAC offers
significant growth opportunities, owing to the growing technology expenditures
in major countries, such as China, India, Singapore, and Australia, and the
demand for cost-effective data management and governance solutions and services
among Small and Medium-sized Enterprises (SMEs). These factors are expected to
drive the Data Governance Market growth
during the forecast period.
The major vendors of data
governance solutions and services include IBM (US), Oracle (US), SAP
(Germany), SAS (US), Collibra (US), Informatica (US), Talend (US), TopQuadrant
(US), Information Builders (US), Alation (US), TIBCO (US), Varonis (US), erwin
(US), Data Advantage Group (US), Syncsort (US), Infogix (US), Magnitude
Software (US), Ataccama (US), Reltio (US), Global Data Excellence (Switzerland),
Global IDs (US), Innovative Routines International (US), Denodo (US), Adaptive
(US), Microsoft (US), Zaloni (US), Alex Solutions (Australia), Microfocus (UK)
and Mindtree(US).
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Content Source: https://www.marketsandmarkets.com/PressReleases/data-governance.asp
Report: https://www.marketsandmarkets.com/Market-Reports/data-governance-market-108243043.html
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/data-governance.asp
Report: https://www.marketsandmarkets.com/Market-Reports/data-governance-market-108243043.html
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