NEW YORK, Feb. 13, 2017 /PRNewswire/ -- "Need to meet regulations and compliance deadlines is one of the biggest drivers for the data governance market globally"
The global data governance market size is estimated to grow from USD 863.2 million in 2016 to USD 2,234.7 million by 2021, at a Compound Annual Growth Rate (CAGR) of 21.0%. The need to meet regulations & compliance deadlines and need to improve & sustain strategic risk management has fueled the growth of data governance solutions and services. However, varying structure of regulatory policies and data address validation & quality issues are the restraining factors for the data governance market.
"The data governance solutions accounts for the largest market share during the forecast period"
The data governance market by solutions is estimated to grow with the largest market share during the forecast period. Data governance solutions are used in various verticals and have various applications. The software helps understand & promote the value of data, resolve data related issues, track & oversees the delivery of data projects and services and define, approve, and maintain data strategies. Based on the data, organizations could generate business-related insights and plan the next step accordingly, when any fault occurs. Data governance solutions include data masking, data archiving, data catalog, data dictionary, access control, data collaboration and compliance, and policy management.
"Asia-Pacific (APAC) is projected to grow at the highest rate during the forecast period"
North America holds the largest market share in 2016 and the trend is expected to continue in the coming years. The data governance market is showing strong positive trends in the region as several companies and industries are adopting data governance software at various levels, as a part of their strategy to strive in the market and increase their productivity. The APAC market is expected to witness exponential growth and is projected to be the fastest-growing region for the global data governance market. This is due to the rising need to adhere to compliance and regulations being defined by regulatory bodies and organizations.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1: 20%, Tier 2: 26%, and Tier 3: 59%
- By Designation: C-level: 35%, Director level: 50%, and Others: 15%
- By Region: North America: 35%, Europe: 28%, APAC: 22% and RoW: 15%
The various key vendors profiled in the report are as follows:
1. Collibra, Inc. (Brussels, Belgium)
2. Informatica Corporation (California, U.S.)
3. SAS Institute Inc. (North Carolina, U.S.)
4. IBM Corporation (New York, U.S.)
5. Oracle Corporation (California, U.S.)
6. SAP SE (Walldorf, Germany)
7. TIBCO Software Inc. (California, U.S.)
8. Talend Inc. (California, U.S.)
9. Information Builders (New York, U.S.)
10. Varonis Systems Inc. (New York, U.S.)
11. Orchestra Networks (Paris, France)