Data Governance Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Data Governance Market
The data governance market size was reached at a value of USD 3.66 billion in 2023, and the market is now projected to rise from USD 4.44 billion in 2024 to USD 19.86 billion by 2032, exhibiting a CAGR of 20.6% during the forecast period of 2023-2030.
The COVID-19 pandemic contributed significantly to the increasing data usage as the consumer are shifting towards digital platforms. As governments implemented lockdowns, data usage increased throughout businesses, particularly among telecommunications companies in diverse countries. Moreover, due to the pandemic, companies are preferring to do all the business meetings through digital platforms, and a large number of employees began working from home by connecting remotely. This raised demand for data governance solutions to help manage data more efficiently.
The rising demand for big data volume from digitization from organization and global economy. As the data analysis is becoming an important factor to gather insights, optimizing operations, and making wise decisions results in large data volume and demand for governance solutions will foster market growth. Transition of firms to digital operations, resulting in generation of massive data, includes customer information, operational indicators, and financial transactions and more. Generation in big data volumes with fuel data governance market growth.
Additionally, due to increase in online presence of consumers, proliferation of mobile services and rising use of social media have all contributed to generated of massive data, hence boosting data governance market growth. In addition, due to data democratization as technological individuals market is fueling market growth.
Comprehensive Analysis of Data Governance Market
The data governance market is rising with an exponential rate due to its versatile market segmentation. This market expansion effectively provides a detailed geographical assessment considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by types of deployment and by application and by industry. The types of By Deployment segment include On-premise and Cloud, and By Application segment include Audit Management, Compliance Management, Incident Management, and Risk Management while By Industry segment include BFSI, Government, Retail & Consumer Goods, Healthcare, IT & Telecom, and Others.
In the data governance market, North America region lead the data technology devices market by benefitting a market size of USD 1.64 billion in 2023 owing to increasing amount of user-generated data and adoption of governance solutions creating a dominance in the region.
The prominent players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Solix (U.S.), Infogix (U.S.), SAP (Germany), Ataccama (Canada), Collibra (Belgium), Erwin (U.S.), Syniti (U.S.), Alation (U.S.), Data.World (U.S.) and OneTrust (U.S.) these prominent market players provide a level-playing competitive landscape.
In February 2024, Digital Glyde collaborated with Decube to revolutionize the data landscape and improve the quality of AI efforts. The alliance improves observability and data governance, enabling organizations to capitalize on their AI investments.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 20.6% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Deployment
On-premise
Cloud
By Application
Audit Management
Incident Management
Compliance Management
Risk Management
By Industry
BFSI
Healthcare
Government
Retail & Consumer Goods
IT & Telecom
Others (Education, Energy & Utilities, etc.)
By Region
North America (By Deployment, Application, Industry, and Country)
- U.S. (Industry)
- Canada (Industry)
- Mexico (Industry)
South America (By Deployment, Application, Industry, and Country)
- Brazil (Industry)
- Argentina (Industry)
- Rest of South America
Europe (By Deployment, Application, Industry, and Country)
- U.K. (Industry)
- Germany (Industry)
- France (Industry)
- Italy (Industry)
- Spain (Industry)
- Russia (Industry)
- Benelux (Industry)
- Nordics (Industry)
- Rest of Europe
Middle East & Africa (By Deployment, Application, Industry, and Country)
- Turkey (Industry)
- Israel (Industry)
- GCC (Industry)
- North Africa (Industry)
- South Africa (Industry)
- Rest of Middle East & Africa
Asia Pacific (By Deployment, Application, Industry, and Country)
- China (Industry)
- India (Industry)
- Japan (Industry)
- South Korea (Industry)
- ASEAN (Industry)
- Oceania (Industry)
- Rest of Asia Pacific
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