Press release
Data Governance Market: Forecasted Growth at 24.7% CAGR to Achieve $12.38 Billion by 2029 - Major Driver and Trends Revealed
Data Governance Market
What Is The Projected Market Size Of The Global Data Governance Market And Its Growth Rate?
• From $4.35 billion in 2024, the data governance market is predicted to grow to $5.11 billion in 2025 with a CAGR of 17.7%.
• By 2029, the market value will escalate to $12.38 billion boasting a mighty CAGR of 24.7%.
What Is Driving The Growth In The Data Governance Market?
The spurt of growth in data volume is the primary propellant for the data governance market. The ever-growing number of data-producing devices and the popularity of IoT, cloud computing, and anticipated 5G adoption, contribute to this data volume surge. An associated increase in data value awareness, data quality concerns, and regulatory compliance needs further emphasize the importance of data governance for efficient business process management, risk mitigation, and security. For instance, The Linux Foundation's report highlighted data growth for an average end-user organization has skyrocketed 215.43% from 700 TB in 2021 to 2208 TB in 2022.
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Who Are the Key Players Driving Data Governance Market Growth?
• Amazon.com Inc.
• Microsoft Corporation
• International Business Machines Corporation
• Oracle Corporation
• SAP SE
• Infosys Limited
• SAS Institute Inc.
• Micro Focus International plc
• Informatica LLC
• TIBCO Software Inc., and more.
What Are The Key Trends In The Data Governance Market?
• Adoption of blockchain for data trust and transparency
• Implementation of data cataloging and metadata management
• Rise of chief data officers (CDOs)
• Data governance for unstructured data
• Adoption of data governance frameworks and standards
What Are The Segments Of The Global Data Governance Market?
• By Component: Solutions, Services
• By Deployment Model: On-Premise, Cloud
• By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
• By Application: Incident Management, Process Management, Compliance Management, Risk Management, Audit Management, Data Quality And Security Management, Other Applications
• By Industry Vertical: BFSI, Retail and Consumer Goods, Telecom And IT, Government, Healthcare, Manufacturing, Energy And Utilities, Transportation And Logistics, Other Industry Verticals
Which Region Leads The Data Governance Market?
North America led the global data governance market in 2024. However, Asia-Pacific is projected to be the fastest-growing region during the forecast period. Other regions included in the report are Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Data Governance Market Global Market Report?
- Market Size Analysis: Analyze the Data Governance Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Data Governance Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Data Governance Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Data Governance Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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