Data Catalog Market size to grow by USD 1.38 billion from 2024-2028, 39% of market growth is expected in North America, Technavio

NEW YORK, March 15, 2024 /PRNewswire/ -- The Global Data Catalog Market size is estimated to grow by USD 1.38 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 20.78% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 39%.

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Segment Overview

Technavio has segmented the market based on type, Component (Solutions and Services), Deployment (Cloud and On-premises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The solutions segment, led by information catalog solutions, will see significant growth. These tools streamline data discovery, governance, and collaboration, enhancing overall management efficiency. With a market share of USD 311.88 million in 2018, they automate metadata extraction, ensuring real-time updates. They empower users by reducing search time and encouraging data reuse. These versatile tools streamline management processes, contributing to organizational effectiveness and driving market growth.
• Cloud deployment ensures universal accessibility and resource optimization, key advantages including managed services and reduced operational burden. Providers handle maintenance and updates, ensuring seamless operation and driving market growth.

Geography Overview
By geography, the global data catalog market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global data catalog market.

• North America contributes 39% to global market growth, driven by increased focus on governance, aided by information catalogs. Cloud adoption rises, propelled by AI and ML integration, enhancing data management. Industries like finance and healthcare seek advanced solutions, boosting market growth.

Insights on the market contribution of various segments including country and region wise, historic (2018 to 2022) and forecast market size (2024 to 2028)

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Self-service analytics is the key factor driving market growth:

The surge in demand for self-service analytics is propelling market growth. Data catalogs offer intuitive interfaces, empowering users to explore datasets independently, reducing dependence on IT. Self-service analytics aids ad-hoc analysis, essential for navigating complex data landscapes efficiently.

• The emergence of data mesh architecture is driving market growth. Decentralized data ownership is a key feature, with domains or units responsible for their data. Catalogs support this by providing metadata and quality metrics, facilitating evaluation and consumption. Additionally, scalability and flexibility are crucial for accommodating the growing complexity of data mesh deployments, further boosting market growth.
• Maintaining catalog precision over time is challenging as data sources frequently change. Prompt updates and seamless integration of alterations are crucial to avoid disparities. Preserving historical metadata and versioning is essential but may pose difficulties, hindering market growth.

Insights on Market Drivers, trends, & Challenges, historic period (2018 to 2022) and forecast period (2024 to 2028)

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Analyst Review:

The Data Catalog Market plays a pivotal role in modern data management strategies, providing organizations with comprehensive solutions for organizing, governing, and optimizing their data assets. As enterprises grapple with the ever-growing volume and complexity of data, effective data cataloging becomes essential for facilitating data discovery, classification, and integration across disparate sources and formats.

Robust data catalog solutions offer a wide array of features and capabilities, including data visualization, metadata management, and data lineage tracking, enabling users to gain valuable insights into their data assets while ensuring compliance with data governance policies and regulations. By centralizing data inventory and providing transparency into data usage and access controls, data catalogs empower organizations to democratize data access and foster collaboration among stakeholders.

Furthermore, data catalog tools are instrumental in addressing data quality and integrity issues by facilitating data validation, synchronization, and enrichment processes. With seamless integration capabilities and advanced search functionalities, data catalogs streamline data retrieval and enhance data governance framework effectiveness, enabling organizations to derive maximum value from their data assets.

However, while the data catalog market presents significant benefits in terms of improved data management and governance, organizations may face challenges related to implementation complexity, ensuring compliance, and keeping pace with evolving data governance trends and technologies. Nevertheless, with ongoing innovations and advancements in data catalog management, the market is poised for continued growth and adoption across industries.

Market Overview:

The data catalog market is witnessing significant growth driven by the increasing demand for effective data management solutions. Data governance and organization are becoming paramount for businesses to ensure compliance and enhance decision-making processes. Data catalogs play a crucial role in facilitating data discovery, classification, and visualization, enabling organizations to efficiently integrate and analyze their data assets. With a focus on data quality and metadata management, businesses are adopting data catalog solutions to streamline their data governance policies and enhance data transparency. Additionally, data integration and analytics capabilities provided by data catalogs enable businesses to derive valuable insights and improve overall data management efficiency, driving the adoption of data catalog tools and solutions in the market.

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio