Data Governance Market – Global Industry Analysis and Outlook, Size (2022-2029)

Data Governance Market size was valued at US$ 2.57 Bn. in 2021 and the total revenue is expected to grow at 22.32% through 2022 to 2029, reaching nearly US$ 12.87 Bn.
Data Governance Market Overview:
The total administration of the operation of data functions and data assets is referred to as data governance. It is concerned with the integrity, security, usefulness, availability, and accountability of data used in an organisation. It is also utilised in banking, government and defence, health care and life sciences, building, engineering, and other fields. Data governance technologies and approaches are used to guarantee that business data adheres to company policies and regulations. Data governance benefits include better decision-making, operational performance, enhanced data interpretation and continuity, higher data quality, legal requirements, and increased income.

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Data Governance Market Dynamics:
Data governance is a collection of procedures that guarantees the organization's vital and critical data is managed and protected in a methodical manner. It ensures that only reliable data is used in accounting, decision-making, and other essential business activities. With the introduction of many government data requirements, it is now more important than ever to guarantee that data is saved, used, and disposed of correctly within a company. Organizations want to comply with data regulation requirements in order to comply with international and national laws and standards, as well as industry-specific regulatory data requirements.

Several US states are drafting and passing data privacy legislation that is similar to the General Data Protection Regulation (GDPR). California, in particular, has passed the California Consumer Privacy Act (CCPA), which requires the protection of personal data. GDPR fines, for example, could wipe away 2% of Google's earnings, according to Deutsche Bank.

As per Cisco, approximately 5 quintillion bytes of data are produced every day, necessitating the use of a data governance solution to ensure that an organization's network assets are formally, properly, proactively, and effectively implemented across the enterprise in order to maintain trust and accountability.

However, competitors in the market face various constraints and obstacles that may limit the market growth. The integration of data from data silos and concerns linked to the diverse structure of regulatory rules are proving to be major roadblocks to the Data Governance Market's growth.

Companies have started to take a closer look at acquiring data on consistently flowing data. When firms are able to react swiftly to events, their operational sensitivity and organizational effectiveness improve. Every company that collects money, stores information customer and payment data, or works with other companies must follow certain rules. These controls define the infrastructure and DevOps practices that must be adhered to. DevOps is a set of ideas that automates procedures between software development and IT teams, allowing for faster and more reliable software creation, testing, and deployment.
Global Data Governance Market Segment Analysis:
The Global Data Governance Market is segmented by Component, Application, Deployment model, Organization Size and Industry Vertical.

Based on the Component, the global Data Governance market is sub-segmented into Solutions and Services. The Solutions segment held the largest market share of xx% in 2021. Business executives in a variety of industries can use data governance tools to better monitor, manage, and control data migration. Due to the rising use of mobile devices among personnel within the enterprise, as well as the simple access and widespread accessibility of data, individuals and enterprises have been able to deploy data governance solutions.

Based on the Deployment Model, the global Data Governance market is sub-segmented into On-premises and Cloud. The On-premises segment held the largest market share of xx% in 2021. This is a widely utilised method of giving businesses the ability to manage risks, industry policies, business processes, and compliance. Furthermore, the segment's growth is fueled by comprehensive control over the privacy and security of company master data.

Based on the Industry Vertical, the global Data Governance market is sub-segmented into Banking, Financial Services, and Insurance (BFSI), Government and defense, construction and engineering, Retail and eCommerce, Healthcare and life sciences, Telecommunications and IT, Manufacturing, Energy, and utilities and Others. The Healthcare and life sciences segment held the largest market share of xx% in 2021. There has been a massive increase in data generation as a result of increased spending in healthcare, particularly IT infrastructure. As a result, these businesses will need an information governance strategy to manage, monitor, and analyse the massive amounts of data being produced. From remote monitoring to medical device integration, the Internet of Things has many uses in healthcare. It also has the ability to keep patients healthy and safe while also improving how doctors provide treatment. However, IoT creates a demand for data governance in the healthcare industry. Sensors, wearables, remote monitoring, and other medical devices generate vast amounts of data, which the industry struggles to deal with.

In the healthcare industry, there has also been an increase in the number of data breaches. For example, the Chicago-based Sinai Health System recently revealed a cybersecurity breach that happened in the autumn of 2019, potentially exposing the personal health information of over 12,500 people in January 2020. Such occurrences are also motivating businesses to implement data governance solutions.
Global Data Governance Market Regional Insights:
The Asia Pacific held the largest market share of xx% in 2021 and it is expected to grow at the highest CAGR of xx% during the forecast period. Growing technology expenses in Australia, Singapore, India, and China, SMEs' demand for cost-effective data management and governance services and solutions, growing informatization, heavy infrastructure development upgrades, growing need for cloud-based remedies, growing size of SMEs, companies operating in the region providing various solutions based on organization size and needs, the region being the world's center of digital innovation.

North America held the 2nd largest market share of xx% in 2021. Massive interest in cloud-based arrangements, the presence of numerous players, constant developments, early recognition of innovative technologies, data-driven culture, substantial adoption of data governance and management solutions, the presence of a large number of vendors in the US, enterprises with well-established processes, high levels of technology awareness, high risk and data management capacity of organizations in other regions.

The objective of the report is to present a comprehensive analysis of the global Data Governance 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 has 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 reports also helps in understanding the global Data Governance Market dynamic, structure by analyzing the market segments and project the global Data Governance Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Data Governance Market make the report investor’s guide.
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Global Data Governance Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 2.57 Bn.


Forecast Period 2022 to 2029 CAGR:
22.32 %
Market Size in 2029:
US $ 12.87 Bn.


 Segments Covered:
by Component
• Solutions
• Services


by Application
• Incident management
• Process management
• Compliance management
• Risk management
• Audit management
• Data quality and security management
• Others


by Organization Size
• Small & Medium Enterprises
• Large Enterprises


by Deployment Model
• On-premises
• Cloud


by Industry Vertical
• Banking, Financial Services, and Insurance (BFSI)
• Government and defense
• Construction and engineering
• Retail and eCommerce
• Healthcare and life sciences
• Telecommunications and IT
• Manufacturing
• Energy and utilities
• Others



Global Data Governance Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Data Governance Market Key Players
• Varonis Systems
• Oracle Corporation
• Orchestra Networks
• TIBCO Software
• Talend
• SAS Institute
• Infogix
• Collibra
• Reltio
• Global Data Excellence
• Alation
• DATUM LLC
• Ataccama
• Syncsort
• Denodo Technologies
• Informatica LLC
• IBM Corporation
• Quest
• SAP SE
• Global IDs
• Information Builders
• Data Advantage Group
• TopQuadrant
• IRI
• Magnitude Software
• Stealthbits
• Erwin, Inc.
Frequently Asked Questions:
1] What segments are covered in Data Governance Market report?
Ans. The segments covered in Data Governance Market report are based on Component, Application, Organization Size, Deployment Model and Industry Vertical.

2] Which region is expected to hold the highest share in the global Data Governance Market?
Ans. Asia Pacific is expected to hold the highest share in the global Data Governance Market.

3] What is the market size of global Data Governance Market by 2029?
Ans. The market size of global Data Governance Market by 2029 is US $ 12.87 Bn.

4] Who are the top key players in the global Data Governance Market?
Ans. Varonis Systems, Oracle Corporation, Orchestra Networks, TIBCO Software, Talend and SAS Institute are the top key players in the global Data Governance Market.

5] What was the market size of global Data Governance Market in 2021?
Ans. The market size of global Data Governance Market in 2021 was US $ 2.57 Bn.