The data discovery market faces challenges, such as security & privacy concerns and shifting from traditional architecture to new systems. Major factors that is restraining the growth of the market is unclear Returns on Investment (RoI).
The data discovery market is estimated to grow from USD 4.33 Billion in 2016 to USD 10.66 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. Generating insights from multi-structured data sources, rising trends of self-service technologies, and importance of data-driven decision-making are the drivers that propel the growth of the market.
The report provides detailed insights into the global data discovery market, which is segmented by type, professional service, application, organization size, deployment model, vertical, and region. In type, data discovery market software is expected to have the largest market share for the forecast period. Operations find surplus applications which can benefit by adapting data discovery technologies.
Risk management application, which is applicable across all the major industry verticals is expected to have the largest market share. Considering today's highly-volatile financial environment, immensely networked organizations, and global operating models identifying risk & subsequently managing such risks have become a critical task for financial organizations. Advanced analytics is a boon to these industries that require real-time intelligence to make swift decisions in remote locations.
On-premises deployment model has a higher adoption, as compared to the cloud deployment model. This is mainly because of it attributes, such as confidentiality and privacy parameters to the organizational data. The Baking, Financial Services, & Insurance (BFSI) segment has shown the largest market share in vertical segment, where solutions are used to predict to tackle issues, such as insufficient data modeling capabilities. It helps identify potential customer segments, trap them with effective offers, and come up with the most efficient investment plan. However, the manufacturing industry is poised to grow at the highest rate during the forecast period, which will help them in streaming real-time analytics ingesting from sensors and devices in the factory environment.
- Birst, Inc.
- Clearstory Data
- Cloudera, Inc.
- Datameer, Inc.
- Datawatch Corporation
- Microstrategy, Inc.
- Oracle Corporation
- Qlik Technologies, Inc.
- SAP SE.
- Tableau Software, Inc.
- Tibco Software Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Data Discovery Market Analysis, By Component
8 Data Discovery Market Analysis, By Application
9 Data Discovery Market Analysis, By Deployment Model
10 Data Discovery Market Analysis, By Organization Size
11 Data Discovery Market Analysis, By Vertical
12 Geographic Analysis
13 Competitive Landscape
14 Company Profiles
15 Key Innovators
For more information about this report visit http://www.researchandmarkets.com/research/tsdxzh/data_discovery
Research and Markets
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-data-discovery-market-size-to-reach-1066-billion-by-2021-growing-importance-of-data-driven-decision-making---research-and-markets-300393490.html
SOURCE Research and Markets