Press release
Comprehensive Data Governance Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Data Governance Market
A surge in data volumes, which is escalating rapidly, is playing a pivotal role in driving the market for data governance. This surge is being fueled by an ever-growing number of devices generating data, which extend to items like smartphones, wearables, and other sensor-equipped gadgets, the increasing prominence of the Internet of Things, the proliferation of cloud computing, and the looming advent of 5G, all culminating in an exponential growth of data volumes. Data governance contributes to the enhancement of data quality, reduction of data management costs, and expanded access to required data for data scientists, other analysts, and business users. For example, The Linux Foundation's report in December 2022 underscored a marked rise in data growth for average end-user organizations, stepping up to 2,208 TB, marking a 215.43% increase from the 700 TB reported in 2021. As such, the ongoing rapid upsurge in data volumes is poised to further spur the growth of the data governance market in future.
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What growth opportunities are expected to drive the data governance market's CAGR through 2034?
Rapid expansion has been observed in the data governance market in recent years. The market, which was worth $4.35 billion in 2024, is forecasted to increase to $5.11 billion in 2025, representing a compound annual growth rate (CAGR) of 17.7%. The considerable growth during the historic period is due to factors like regulatory compliance requirements, concerns over data quality and accuracy, risk mitigation and security measures, business process optimization, and heightened understanding of data value.
The anticipated market size for data governance is predicted to undergo a significant expansion in the coming years. The market is set to increase to $12.38 billion by 2029, maintaining a compound annual growth rate (CAGR) of 24.7%. The growth prospects in the predicted period can be credited to factors such as dedication towards data privacy and ethics, digital transformation strategies, control and democratization of data, as well as globalization and data exchange. Noteworthy trends in this forecasted period include the use of blockchain for data dependability and transparency, data cataloguing and metadata management, the emergence of Chief Data Officers (CDOs), application of data governance on unstructured data, & the use of data governance frameworks and benchmarks.
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What are the emerging trends shaping the future of the data governance market?
Key players in the data governance market, like CG Infinity, are forming strategic alliances to boost technological integration and extend their market influence. This typically involves a cooperative relationship where multiple organizations pool their resources, capabilities, and efforts towards shared objectives. In May 2024, CG Infinity, a tech firm from the US, entered into such an alliance with BigID for an undisclosed sum. The goal of this partnership is to revolutionize data discovery and intelligence through superior AI governance, data security, privacy compliance, and action-oriented data protection to augment data value. The collaboration brings together CG Infinity's roughly three decades of expertise with BigID's top-tier solutions, allowing clients to optimize data value and adjust to shifting environments. As a new partner providing services, CG Infinity will offer advisory, implementation, technical, and procurement services, focusing on a 'people first + driven to transform' approach for tailored solutions.
Which growth-oriented segments of the data governance market are leading the industry's development?
The data governance market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Model: On-Premise, Cloud
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Application: Incident Management, Process Management, Compliance Management, Risk Management, Audit Management, Data Quality And Security Management, Other Applications
5) By Industry Vertical: BFSI, Retail And Consumer Goods, Telecom And IT, Government, Healthcare, Manufacturing, Energy And Utilities, Transportation And Logistics, Other Industry Verticals
Subsegments:
1) By Solutions: Data Quality Management Tools, Data Catalogs, Metadata Management Solutions, Data Privacy And Compliance Solutions, Master Data Management (MDM) Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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What regions are leading the charge in the data governance market?
North America was the largest region in the data governance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data governance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the data governance market?
Major companies operating in the data governance market include 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., Varonis Systems Inc., Talend Inc., Collibra Inc., Denodo Technologies, Ataccama Corporation, Magnitude Software Inc., Infogix Inc., Infogix Inc., Reltio Inc., erwin Inc., Alation Inc., Syncsort Incorporated, Orchestra Networks Inc., Orchestra Networks Inc., Global IDs Inc., TopQuadrant Inc., Information Builders Inc., Innovative Routines International Inc., Global Data Excellence SA, Datum LLC, Data Advantage Group Inc.
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What Is Covered In The Data Governance Global Market Report?
•Market Size Forecast: Examine the data governance market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the data governance market for a structured understanding.
•Key Players Overview: Analyze major players in the data governance market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the data governance market.
•Segment Contributions: Evaluate how different segments drive overall growth in the data governance market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the data governance market.
•Industry Challenges: Identify potential risks and obstacles affecting the data governance market.
•Competitive Landscape: Review strategic developments in the data governance market, including expansions, agreements, and new product launches.
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