DUBLIN–(BUSINESS WIRE)–The “Global Data Intelligence & Governance Market: Analysis By Segment, By Deployment, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global data intelligence & governance market in 2021 was valued at US$20.55 billion, and is likely to reach US$36.27 billion by 2026. The data intelligence & governance market is projected to grow at a CAGR of 13.60% during the forecast period of 2022-2026.
The volume of data available has increased dramatically in recent years, owing to a data-driven approach. Big data training, analytics technologies, and services are in high demand.
Since data is useless without the ability and tools to analyze it, companies have increased their demand for data intelligence software, which helps organizations grow their businesses by enabling business analysts to find, access, understand, and trust their data in order to make impactful business decisions.
Market Segmentation Analysis:
- By Segment: The report splits the global data intelligence & governance market into two different segments: data governance, and data intelligence. The data governance segment held around 61% share in global data intelligence & governance market in 2021, owing to data is the most significant factor in making corporate decisions and in many other fields such as research and analytics.
- By Deployment: The market report has segmented the global data intelligence & governance market into two segments on the basis of deployment: on-premise, and cloud. On-premise segment held more than 54% of the share in data intelligence & governance market in 2021, as many businesses implement precautions to safeguard their data from being accessed by unauthorized persons, which is commonly done by inside traders in the company.
- By Application: The market report has segmented the global data intelligence & governance market into seven segments on the basis of application: BFSI, IT & telecom, energy & utility, retail & consumer goods, construction & engineering, transportation & logistics, and others. IT & Telecom segment is the fastest growing segment with a CAGR of around 15.9% during forecast period, as data intelligence & governance solutions help to improve their services and make their customers happier.
Global Data Intelligence & Governance Market Dynamics:
- Growth Drivers: Data volume is getting bigger exponentially in recent times. Companies have been focused on data intelligence and governance in recent years as a result of the need to target and use the proper piece of data among the diverse data accessible to perform an effective data intelligence process. Further, the market is expected to increase due to rising regulatory compliance mandates, digital transformation, etc.
- Challenges: Metadata management has become increasingly important for transactional and analytical applications. Creating metadata silos causes numerous challenges. Metadata management and its use in enterprise information management has become one of the critical information technologies (IT) focuses for both global 2000 corporations and large government agencies. When data silos exist, it means that some sets of people in an organization are able to access certain data or its sources and others aren’t. This is a major problem for data intelligence & governance market. Additionally, other factors like, multiple data storages, etc. are some challenges to the market.
- Trends: Artificial Intelligence appears to be extremely bright and dramatic. Data intelligence incorporates both artificial intelligence and machine learning tools, which permit organizations to analyze enormous amounts of data much faster and reliably than if done manually. AI and data intelligence & governance solutions are mostly demand trend globally, as data intelligence with the power of AI would help in developing predictive analytical model using the real time data, and yet providing data security to organizations at real time. Therefore, Artificial intelligence is likely to grow the overall market in coming years. More trends in the market are believed to grow the data intelligence and governance market during the forecasted period, which may include increased focus on establishing a Single Source of Truth (SSoT), rising adoption of cloud integration, metadata driven data fabric, etc.
Competitive Landscape and Recent Developments:
Global data intelligence & governance market is consolidated with presence of limited players. Some of the prominent players are Informatica Inc, SAP SE, Collibra, SAS, and many more. The market has been witnessing the companies entering into strategic mergers and acquisitions to leverage the growing demand for data intelligence & governance solutions.
Key Players
- Informatica Inc.
- International Business Machines Corporation (IBM)
- SAP SE
- Oracle Corporation
- SAS
- Infosys Ltd.
- Cisco Systems, Inc.
- OneTrust
- Collibra
- TrustArc
- BigID, Inc.
- Securiti.ai
- TIBCO Software Inc.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/7pk6hz
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