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Exponential Growth In Data Volumes Drives The Data Governance Market: A Key Driver Powering Data Governance Market Growth In 2025
Data Governance Market
How Big Is the Data Governance Market Size Expected to Be by 2034?
There has been a fast-paced expansion in the size of the data governance market recently. It is projected to escalate from a $4.35 billion valuation in 2024 to $5.11 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 17.7%. Factors contributing to the growth in the historic period include the need for regulatory compliance, concerns about data quality and accuracy, the need for risk mitigation and security, business process optimization, and a heightened recognition of the worth of data.
The market size for data governance is projected to undergo significant expansion in the ensuing years, with an expectation of it reaching $12.38 billion by the year 2029 at a compound annual growth rate (CAGR) of 24.7%. The predicted escalation in the forecast period can be reasoned with an increased emphasis on data privacy, ethics, digital transformation strides, control over data democratisation and access, as well as globalisation and data sharing. The forecast period will likely also see trends such as the use of blockchain for data trust and transparency, cataloguing and management of metadata, the emergence of chief data officers (CDOs), governance of unstructured data, and implementation of data governance frameworks and standards.
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What Are the Emerging Segments Within the Data Governance Market?
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 Long-Term Drivers Are Shaping Data Governance Market Trends?
The data governance market is seeing a surge due to the swift rise in data volumes. Contributing factors to this surge are the proliferating array of data-producing devices like smartphones, wearables, and various sensor-equipped gizmos, the growing demand for Internet of Things, cloud technology, and the upcoming integration of 5G. All these aspects are significantly contributing to the surge in data volume. The advantage of data governance is the improvement of data quality, reduction of data management costs, and accelerated access to required data for data scientists, analysts, and business users. To evidence this, as reported by The Linux Foundation in December 2022, there's been a considerable upsurge in data growth in regular end-user organizations, reaching 2,208 TB, a 215.43% ascension from the 700 TB recorded in 2021. Hence, the swift escalation in data volumes is anticipated to stimulate the growth of the data governance market in the future.
Who Are the Top Competitors in Key Data Governance Market Segments?
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.
What Are the Major Trends Shaping the Data Governance Market?
Leading firms active in the data governance sector are embracing a methodology of strategic partnerships to bolster technology integration and grow their market footprint. A strategic partnership is generally defined as a cooperative relationship among two or more entities pooling their resources, knowledge, and endeavors to realize mutual aims or objectives. For example, in May 2024, US technology company CG Infinity entered into collaboration with BigID for an undisclosed sum. The objective of this alliance is to revolutionize data discovery and intelligence by providing sophisticated AI governance, data security, privacy compliance, and reactive data protection to amplify the value of data. This collaboration unites the almost 30 years of domain expertise of CG Infinity with the groundbreaking solutions of BigID, empowering clients to enhance their data value and adjust to an evolving scenario. As a fresh service partner, CG Infinity will offer advisory, roll-out, technical, and procurement services, laying stress on a 'people first + driven to transform' attitude towards bespoke solutions.
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Which Regions Are Becoming Hubs for Data Governance Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Data Governance Market?
2. What is the CAGR expected in the Data Governance Market?
3. What Are the Key Innovations Transforming the Data Governance Industry?
4. Which Region Is Leading the Data Governance Market?
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