Data Discovery Market by Component, Functionality, Organization Size, Deployment Mode, Application, Vertical and Region - Global Forecast to 2025
DUBLIN, Jan. 22, 2021 /PRNewswire/ -- The "Data Discovery Market by Component, Functionality, Organization Size, Deployment Mode, Application, Vertical (BFSI, Healthcare and Life Sciences, Telecommunications and IT, Manufacturing), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global data discovery market is projected to grow from USD 6,981 million in 2020 to USD 14,401 million by 2025, recording a CAGR of 15.6% during the forecast period.
Various factors such as the growing need to discover sensitive structured and unstructured data, increasing investments in data privacy with evolving regulations, growing adoption of cloud-based data discovery solutions to improve security compliance and governance within data and the growing importance of data utilization during COVID-19 scenario among organizations are expected to drive the adoption of the data discovery market. The objective of the report is to define, describe, and forecast the data discovery market size based on component, functionality, organization size, deployment mode, application, vertical, and region.
With the growing focus on IoT and real-time data analysis, the data discovery market is witnessing significant growth. Various factors, such as the growing need to discover sensitive structured and unstructured data, increasing investments in data privacy culture with evolving data privacy regulations, and need for real-time data access, are expected to drive the adoption of the data discovery market. Increasing demand to integrate data in business processes to derive actionable insights, and COVID-19 led to change in work dynamics increasing need for data utilization across verticals would provide opportunities for market growth. However, the market faces restraints, such as difficulty to justify RoI from data discovery solutions, and lack of skilled professional workforce. Data security and privacy concerns, and major dependency on traditional manual systems for data discovery are the key challenges in the adoption of data discovery solutions and services.
The services segment to grow at a higher CAGR during the forecast period
The data discovery market is segmented based on components, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. The growth can be attributed to the increasing demand for deployment and integration services by end-user to effectively integrate data discovery tools for gathering structured and unstructured data from multiple sources.
The augmented data discovery functionality segment to grow at the highest CAGR during the forecast period
The data discovery market by functionality has been segmented into visual data discovery, augmented data discovery, search-based data discovery, and self-service data preparation. The visual data discovery functionality is expected to hold the largest market size during the forecast period. This can be attributed to its benefits such as easy interaction with graphs for clear results, analysis, reporting and visualization of different options, and easy documentation supporting corporate and governmental compliance. The augmented data discovery functionality is expected to grow at the highest CAGR. Augmented data discovery algorithms do the heavy lifting of sifting through data and then presenting the user with insights that can really make a difference to their business.
The cloud segment to grow at a higher CAGR during the forecast period
The data discovery market by deployment mode has been segmented into on-premises and cloud. Cloud is further segmented by type in public cloud, private cloud, and hybrid cloud. The cloud segment is expected to grow at a rapid pace during the forecast period. The high CAGR of the cloud segment can be attributed to the availability of easy deployment options and minimal requirements of capital and time. These factors are supporting the current lockdown scenario of COVID-19 as social distancing and lack of workforce hit the industry, and are expected to drive the adoption of cloud-based data discovery solutions. Highly secure data encryption and complete data visibility and control feature are responsible for the higher adoption of on-premises-based data discovery solutions.
Among verticals, the healthcare and life sciences segment to grow at the highest CAGR during the forecast period
The data discovery market is segmented based on verticals into BFSI, government, healthcare and life sciences, retail, manufacturing, media and entertainment, telecommunications and IT, transportation and logistics, and other verticals (education, energy and utilities, and travel and hospitality). The BFSI vertical is expected to account for the largest market size during the forecast period. Moreover, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. During the COVID-19 pandemic, healthcare researchers and hospitals are dealing with enormous data, which has created a massive need for efficient data discovery and management. Data preparation and graphical user interface facilitates the users to utilize embedded intelligence with automated data prep tasks.
Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China, India, and Japan, increasing government regulations and initiatives are expected to drive the growth of the market in APAC. The increasing volume of data, advancements in AI and big data technologies, growing concern about data integrity, and increasing demand for useful insights are some of the major factors driving the growth of the data discovery market in APAC. China, India, and Japan are particularly focusing on enhancing the management of data to enable data-based business decisions and enhance business processes.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Data Discovery Market
4.2 Market, Top Three Applications
4.3 Market, by Region
4.4 North America Market, by Deployment Mode and Functionality
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Data Discovery: Evolution
5.3 Data Discovery: Architecture
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Growing Need to Discover Sensitive Structured and Unstructured Data
5.4.1.2 Increasing Investment in Data Privacy Measures with the Introduction of Data Privacy Regulations
5.4.1.3 Need for Real-Time Data Access to Drive the Demand for Cloud-Based Data Discovery Solutions
5.4.2 Restraints
5.4.2.1 Difficulties in Justifying Roi from Data Discovery Solutions
5.4.2.2 Lack of Skilled Professional Workforce
5.4.3 Opportunities
5.4.3.1 Increasing Demand to Integrate Data in Business Processes and Derive Actionable Insights
5.4.3.2 COVID-19 Has Led to a Change in Work Dynamics, Increasing the Need for Data Utilization Across Verticals
5.4.4 Challenges
5.4.4.1 Data Security and Privacy Concerns
5.4.4.2 Major Dependence on Manual Systems for Data Discovery
5.4.5 Cumulative Growth Analysis
5.5 Data Discovery: Ecosystem
5.6 Data Discovery: Pillars
5.7 Case Study Analysis
5.7.1 Fleetpride Transform Supply Chain Management with IBM Cognos Analytics
5.7.2 Granges Reduces Data Security Breaches with Microsoft Azure Information Protection
5.7.3 Tinuiti Centralized 100+ Data Sources Through Tableau Prep
5.7.4 Statistics Estonia Increases Information Delivery Through Sas Data Discovery
5.7.5 Ciscowebx Implemented Cloudera Data Discovery for Improving Customer Experience
5.7.6 Edmunds Uses Amazon Macie to Increase Data Visibility and Security
5.7.7 The Centers for Medicare and Medicaid Services (Cms) Adopted Pkware Smartcrypt to Enhance Protection for Sensitive Medical Data
5.7.8 Illinois College Selected Spirion to Make Data Privacy Program Smarter
5.7.9 First National Bank Minnesota (Fnb Mn) Select Netwrix Solution to Secure Sensitive Data and Rebuild Its Active Directory
5.8 Data Discovery Market: COVID-19 Impact
5.9 Patent Analysis
5.10 Supply Chain Analysis
5.11 Value Chain Analysis
5.12 Technology Analysis
5.13 Pricing Model Analysis
5.14 Porter's Five Force Analysis
6 Data Discovery Market, by Component
6.1 Introduction
6.1.1 Components: Market Drivers
6.1.2 Components: COVID-19 Impact
6.2 Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.2 Support and Maintenance
6.3.1.3 Deployment and Integration
6.3.2 Managed Services
7 Data Discovery Market, by Organization Size
7.1 Introduction
7.1.1 Organization Size: Market Drivers
7.1.2 Organization Size: COVID-19 Impact
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Data Discovery Market, by Deployment Mode
8.1 Introduction
8.1.1 Deployment Mode: Market Drivers
8.1.2 Deployment Mode: COVID-19 Impact
8.2 On-Premises
8.3 Cloud
8.3.1 Public Cloud
8.3.2 Private Cloud
8.3.3 Hybrid Cloud
9 Data Discovery Market, by Functionality
9.1 Introduction
9.1.1 Functionality: Market Drivers
9.1.2 Functionality: COVID-19 Impact
9.2 Visual Data Discovery
9.3 Augmented Data Discovery
9.4 Search-Based Data Discovery
9.5 Self-Service Data Preparation
10 Data Discovery Market, by Application
10.1 Introduction
10.1.1 Application: Market Drivers
10.1.2 Application: COVID-19 Impact
10.2 Security and Risk Management
10.3 Sales and Marketing Management
10.4 Asset Management
10.5 Supply Chain Management
10.6 Other Applications
11 Data Discovery Market, by Vertical
11.1 Introduction
11.1.1 Vertical: Market Drivers
11.1.2 Vertical: COVID-19 Impact
11.2 Banking, Financial Services, and Insurance
11.3 Government
11.4 Healthcare and Life Sciences
11.5 Retail
11.6 Manufacturing
11.7 Media and Entertainment
11.8 Telecommunications and Information Technology
11.9 Transportation and Logistics
11.10 Other Verticals
12 Data Discovery Market, by Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Middle East and Africa
12.6 Latin America
13 Competitive Landscape
13.1 Overview
13.2 Market Evaluation Framework
13.3 Market Share, 2020
13.4 Historic Revenue Analysis of Key Market Players
13.5 Key Market Developments
13.5.1 New Product Launches and Product Enhancements
13.5.2 Business Expansions
13.5.3 Mergers and Acquisitions
13.5.4 Partnerships, Agreements, Contracts, and Collaborations
13.6 Company Evaluation Matrix Definitions and Methodology
13.7 Company Evaluation Matrix, 2020
13.7.1 Star
13.7.2 Emerging Leaders
13.7.3 Pervasive
13.7.4 Participants
13.7.5 Strength of Product Portfolio for Top Players in Market
13.7.6 Business Strategy Excellence for Top Players in Market
13.8 Startup/SME Company Evaluation Matrix, 2020
13.8.1 Progressive Companies
13.8.2 Responsive Companies
13.8.3 Dynamic Companies
13.8.4 Starting Blocks
13.8.5 Strength of Product Portfolios for Startups in the Market
13.8.6 Business Strategy Excellence for Startups in Market
14 Company Profiles
14.1 Introduction
14.2 IBM
14.3 Microsoft
14.4 Oracle
14.5 Salesforce
14.6 Sas Institute
14.7 Google
14.8 Amazon Web Services (AWS)
14.9 Microstrategy
14.10 Micro Focus
14.11 Thales
14.12 Cloudera
14.13 Alteryx
14.14 Pkware
14.15 Spirion
14.16 Egnyte
14.17 Netwrix
14.18 Varonis
14.19 Digital Guardian
14.20 Startup/SME Profiles
14.20.1 Nightfall
14.20.2 Securiti
14.20.3 Datagrail
14.20.4 Dathena
14.20.5 Bigid
14.20.6 Explorium
14.20.7 1Touch.io
14.20.8 Congruity360
14.20.9 Concentric
15 Adjacent and Related Markets
16 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/k3xxza
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