Data Discovery Market was valued at US$ 10.32 Bn. in 2022 and is expected to reach US$ 36.77 Bn. by 2029, at a CAGR of 19.9% during a forecast period.
Data Discovery Market Overview:The practise of extracting actionable patterns from data is known as data discovery. Humans or artificial intelligence systems execute the extraction. Data discovery is a sort of data use that is based on technologies that have enabled the collection and use of large amounts of data. The data discovery solution is simple to use, agile and flexible, lowers time to insights, handles a large amount and variety of data easily, and provides real-time analytics. To know about the Research Methodology :- Request Free Sample Report
Benefit of Data Discovery:1. Better understanding of enterprise data. 2. Automatic data classification based on context. 3. Risk management and regulatory compliance. 4. High data visibility.
COVID-19 impact on Data Discovery Market:The COVID-19 virus spread all over the world and it is negatively affected market growth. This can be attributed to various preventive lockdowns and other restrictions imposed by global regulatory authorities, which have experienced major disruptions in their respective manufacturing and supply chain operations. However, the focus on vaccine development and adoption efforts in family planning and e-health is leading to an explosive growth of structured and unstructured data, which requires effective discovery and management to gain insights. Furthermore, consumer demand has reduced as a result of the epidemic's significant impact on most people's overall economic conditions, and individuals are now more eager to eliminate superfluous spending from their respective budgets.
Data Discovery Market Dynamics:Big data is the main factor driving the global data discovery market. In recent years, the amount of data being generated is huge, and traditional data discovery methods cannot handle it. Large amounts of data are provided in various formats, and they should be processed efficiently in order to obtain valuable information with the help of data discovery tools. Another factor that increases the demand for data discovery in the market is the increasing demand for real-time analysis. The recent trend to dominate the market is the real-time analysis, so the demand for data discovery software tools has increased. Data discovery software tools have different features like they are automated, faster, and flexible. Another major factor that is helpful for driving the data discovery market is the increasing demand for organizations to use agile business intelligence and agile analysis to transform data into value. Data discovery activities are frequently carried out by BI teams and data scientists using more iterative and agile methodologies. Some data-finding solutions waste a lot of time, are complicated and are confined to applications, which are constraints restricting the growth of the data discovery industry. A large amount of digital information is a treasure trove of meaningful insights, such as valuable business trends, changes in consumer behavior, outbreaks of pandemics, changing weather patterns, and rising crime rates. If properly managed, these data can provide opportunities for companies and governments to open up new business channels and solutions to achieve better governance. The companies need a full discovery platform that can process large amounts of data in real-time to provide meaningful insights. The inefficiency of managing EB and PB data increases the possibility of security breaches and data loss. Data privacy is the main drawback over here, but the actual threat is poorly or unauthenticated managed data. Data discovery is accompanied by three privacy risks: data leakage, data brokerage, and data discrimination. When information is retrieved without consent, data leakage occurs.
Data Discovery Market segment analysis:Based on deployment mode, on-premise segment held largest market share of xx% in 2022, owing to its properties like it’s a cost saving system, it gives fast response time, and this service provides better control over service level which gives high performance and maintenance. The on premise service provider is an organization which helps to host the services like software, networking, infrastructure and more. The client organization are managing all the transaction and it is responsible for setting there infrastructure and managing them. Based on verticals, Healthcare and Life Sciences segment held the largest market share of xx% in 2022. The demand of this segment is increasing because of the increasing population and leader the greater demand in the healthcare and life science industry. This segment helps for the fastest-growing verticals in terms of advanced technology adoption and services. Healthcare and life science industry can benefit from software asset management systems, which is helpful for growing the market. Healthcare organizations that use software asset management solutions for operational activities and medical device management must follow governing body regulations.
Regional Insight:North America region held the largest market share of xx% in 2022. The North American market has been divided into three parts: the United States, Canada, and Mexico. During the forecast period, the United States is expected to lead the country-level market, while Canada is expected to be the fastest-growing sector. Because of factors such as demand for sophisticated data discovery solutions such as augmented and visual data discovery that leverage artificial intelligence and big data analytics, the US market is likely to register the greatest market share. Additionally, due to the presence of multiple significant competitors in the region, the North American market for data discovery solutions is likely to grow even further. Asia-Pacific is the second dominant region and it held xx% of the share in 2022, with the regional market divided into China, Japan, India, and the rest of Asia-Pacific. This growth is linked to rapid economic development and raising awareness of data-driven insights in key countries such as China, Japan, and India, as well as the high rate of data collection.
Recent Developments:• IBM Risk Analytics, a new risk-based service, will be available in September 2022. The solution is intended to assist enterprises in applying typical business analytics to cybersecurity budget objectives. The new service generates risk assessments to assist clients in identifying, prioritising, and quantifying security risk as they make decisions such as deploying new technology, investing in their business, and changing processes. • SAS Institute will release SAS Viya 4, a new enhancement for SAS Viya, in June 2021. SAS Viya 4 is designed to take use of cutting-edge cloud technology. The upgrade is intended to be deployed and updated on a continual basis, and the new architecture contributes to bringing sophisticated analytics to everyone, everywhere. • Google Cloud and Splunk will collaborate in May 2021 to help customers obtain better insights from data. This collaboration sought to assist enterprises in gaining actionable insights from their data and enabling better, faster decisions with real-time visibility across the enterprise. The objective of the report is to present a comprehensive analysis of the Data Discovery market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Data Discovery market dynamics, structure by analyzing the market segments and projects the Data Discovery market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Data Discovery market make the report investor’s guide.
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Data Discovery Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 10.32 Bn. Forecast Period 2023 to 2029 CAGR: 19.9 % Market Size in 2029: US $ 36.77 Bn. Segments Covered: by Type Software Services by Deployment Mode On-premises Hosted by Application Risk management Social network analysis Customer experience management Cost optimization Others by Verticals BFSI Government Healthcare and Life Sciences Retail Manufacturing Others
Data Discovery Market, by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (razil, Argentina Rest of South America)
Key Players:1. Datawatch Corporation 2. Tableau Software, Inc. 3. Datameer, Inc. 4. SAP SE. 5. Tibco Software Inc. 6. Cloudera, Inc. 7. Clearstory Data 8. Birst, Inc. 9. Platfora 10. Qlik Technologies, Inc. 11. Oracle Corporation 12. Microstrategy, Inc. 13. Hortonworks, Inc. 14. Panorama 15. IBM 16. Microsoft 17. Salesforce 18. SAS Institute 19. Google 20. Micro Focus 21. PKWARE 22. Alteryx 23. Egnyte
Frequently Asked Questions:1. Which region has the largest share in Data Discovery Market? Ans: North America region holds the highest share in 2022. 2. What is the growth rate of Data Discovery Market? Ans: The Data Discovery Market is growing at a CAGR of 19.9 % during forecasting period 2023-2029. 3. What segments are covered in Data Discovery market? Ans: Data Discovery Market is segmented into type, deployment mode, application, verticals and region. 4. Who are the key players in Data Discovery market? Ans: The important key players in the Data Discovery Market are – Datawatch Corporation, Tableau Software, Inc., Datameer, Inc., SAP SE., Tibco Software Inc., Cloudera, Inc., Clearstory Data, Birst, Inc., Platfora, Qlik Technologies, Inc., 5. What is the study period of this market? Ans: The Data Discovery Market is studied from 2022 to 2029.
1. Global Data Discovery Market: Research Methodology 2. Global Data Discovery Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Data Discovery Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Data Discovery Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Data Discovery Market Segmentation 4.1. Global Data Discovery Market, by Type (2022-2029) • Services • Software 4.2. Global Data Discovery Market, by Deployment Mode (2022-2029) • Hosted • On-premises 4.3. Global Data Discovery Market, by Application (2022-2029) • Risk management • Social network analysis • Customer experience management • Cost optimization • Others 4.4. Global Data Discovery Market, by Verticals (2022-2029) • BFSI • Government • Healthcare and Life Sciences • Retail • Manufacturing • Others 5. North America Data Discovery Market(2022-2029) 5.1. North America Data Discovery Market, by Type (2022-2029) • Services • Software 5.2. North America Data Discovery Market, by Deployment Mode (2022-2029) • Hosted • On-premises 5.3. North America Data Discovery Market, by Application (2022-2029) • Risk management • Social network analysis • Customer experience management • Cost optimization • Others 5.4. North America Data Discovery Market, by Verticals (2022-2029) • BFSI • Government • Healthcare and Life Sciences • Retail • Manufacturing • Others 5.5. North America Data Discovery Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Data Discovery Market (2022-2029) 6.1. European Data Discovery Market, by Type (2022-2029) 6.2. European Data Discovery Market, by Deployment Mode (2022-2029) 6.3. European Data Discovery Market, by Application (2022-2029) 6.4. European Data Discovery Market, by Verticals(2022-2029) 6.5. European Data Discovery Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Data Discovery Market (2022-2029) 7.1. Asia Pacific Data Discovery Market, by Type (2022-2029) 7.2. Asia Pacific Data Discovery Market, by Deployment Mode (2022-2029) 7.3. Asia Pacific Data Discovery Market, by Application (2022-2029) 7.4. Asia Pacific Data Discovery Market, by Verticals(2022-2029) 7.5. Asia Pacific Data Discovery Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Data Discovery Market (2022-2029) 8.1. Middle East and Africa Data Discovery Market, by Type (2022-2029) 8.2. Middle East and Africa Data Discovery Market, by Deployment Mode (2022-2029) 8.3. Middle East and Africa Data Discovery Market, by Application (2022-2029) 8.4. Middle East and Africa Data Discovery Market, by Verticals(2022-2029) 8.5. Middle East and Africa Data Discovery Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Data Discovery Market (2022-2029) 9.1. Latin America Data Discovery Market, by Type (2022-2029) 9.2. Latin America Data Discovery Market, by Deployment Mode (2022-2029) 9.3. Latin America Data Discovery Market, by Application (2022-2029) 9.4. Latin America Data Discovery Market, by Verticals(2022-2029) 9.5. Latin America Data Discovery Market, by Country (2022-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Datawatch Corporation 10.1.1. Financial Overview 10.1.2. Global Presence 10.1.3. Capacity Portfolio 10.1.4. Business Strategy 10.1.5. Recent Developments 10.2. Tableau Software, Inc. 10.3. Datameer, Inc. 10.4. SAP SE. 10.5. Tibco Software Inc. 10.6. Cloudera, Inc. 10.7. Clearstory Data 10.8. Birst, Inc. 10.9. Platfora 10.10. Qlik Technologies, Inc. 10.11. Oracle Corporation 10.12. Microstrategy, Inc. 10.13. Hortonworks, Inc. 10.14. Panorama 10.15. IBM 10.16. Microsoft 10.17. Salesforce 10.18. SAS Institute 10.19. Google 10.20. Micro Focus 10.21. PKWARE 10.22. Alteryx 10.23. Egnyte