Market Highlights
Data catalog, a service that enables its end-users (organization) to explore the required data sources and assist in understanding to achieve more value from their present investments. This solution (data catalog), offering a native and extensible architecture, gathers all the data from a data lake, on-premise, and or on- cloud. It then, profiling and classifying this data, finds and suggests relationships between the data, and provides search-based access to the users for utilizing the data when they need it.
In a digital world, wherein a massive data gets accumulated minute by minute, data catalog acts as a valuable asset in information architecture, bridging up the gap between IT and other businesses and therefore, allowing everyone to contribute their insights. This solution also ensures data quality and data governance by enabling users to collaborate in a single self-service environment. These efficacies of the data catalog are allowing it to garner colossal prominence and uptake. As a result, the data catalog market is garnering significant traction on the global platform.
Acknowledging the kind of traction, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global data catalog market will reach approximately 770 MN USD by 2023, registering a whopping CAGR over 24 % during the review period (2018 – 2023).
Additionally, the growing volume of business data, increasing usages of external data sources, increasing regulatory pressure and the need for improvement of the performance of data drive the market growth. Moreover, factors substantiating the market growth include the ever-increasing volumes of data, increasing number of cloud apps, IoT, and digital transformation of processes that have increased the availability of the data exponentially consecutively increasing the demand for the data catalog solution.
On the flip side, factors such as lack of standardization in data management, data security, and privacy are impeding the growth of the data catalog market. Nevertheless, the increasing demand in the big data and the evolving artificial intelligence in the field of data catalog are expected to boost the growth of the data catalog market over the estimated period (2018-2023).
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Segmentation:
MRFR has segmented the analysis into six key dynamics for the scope of better understanding: –
By Components: Solutions (Standalone Solution and Integrated Solution) and Services (Professional Services and Managed Services).
By Consumer Types: Business Intelligence Tool, Enterprise Applications, Mobile and Web Applications among others.
By Deployments: On-Premise and On-Cloud.
By Organization Size: Small & Medium Enterprises and Large Enterprises.
By Verticals: BFSI, IT & telecom, Government, Healthcare, and Retail among others.
By Regions: Europe, North America, APAC and Rest-of-the-World.
Regional Analysis:
The North American region is projected to lead the global data catalog market over the forecast period, holding the largest market share. Factors such as the unparalleled expansion of data and the stringent regulatory compliances related to the data along with the increasing uptake of the internet of things (IoT), positively impact the market growth in the region.
Moreover, the factors substantiating the market growth include substantial investments in cloud-based solutions, early adoption of emerging technologies, and the presence of a huge number of players in this region. Furthermore, factors such as the shifting focus of increasing number of organizations towards the adoption of digital business strategies along with the other supporting advent technologies are fostering the market growth in the region.
The Asia Pacific region is another lucrative market for data catalog which is anticipated to observe exponential progress, emerging as the most promising market globally.
Factors propelling the market growth in the region include the augmenting demand for the digitization and increasing awareness about new technological solutions. Additionally, the rising stringent data related regulatory compliances implemented by the regulatory bodies and organizations in the region are propelling the growth of the APAC market.
Additionally, the increasing adoption of automation and increased demand for visualization tools are expected to allow the regional market to grow at the highest CAGR during the forecast period. The data catalog market in the APAC is garnering a massive traction in various industries such as Healthcare, Manufacturing, and BFSI among others.
Competitive Dashboard:
The highly competitive market of data catalog demonstrates high growth prospect which in turn, will intensify the market competition, attracting several new entrants to the market. Due to the presence of several small players and key players with the global presence the data catalog market appears to be fragmented. Key strategies traced by analyzing the recent developments include agreement & partnership, product launch, expansion, and acquisition. The analysis indicates the large investments by multinational companies and emerging startup.
Key Players
Fervent players driving the market for the data catalog include Informatica (US), IBM (US), Amazon Web Services (US), Waterline Data (US), Collibra (Belgium), Alation (US), TIBCO Software (US), Microsoft (US), Datawatch Corporation (US), Zaloni (US), Tamr (US), and Alteryx (US).
Industry/Innovation/Related News:
October 16, 2018 – Talend (US), an enterprise data integration software vendor announced the release of its newest data fabric product, a unified data platform for data integration across cloud and on-premise environments. This release is highlighted by new data cataloging functionality that creates a single source of trusted data. The cloud application programming interface services also allow a broad access to standardized data for building data as a service application.
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List of Tables
Table 1 Data Catalog Market: By Region, 2018-2023
Table 2 North America Data Catalog Market: By Country, 2018-2023
Table 3 Europe Data Catalog Market: By Country, 2018-2023
Table 4 Asia Pacific Data Catalog Market: By Country, 2018-2023
Table 5 The Middle East & Africa Data Catalog Market: By Country, 2018-2023
Table 6 Latin America Data Catalog Market: By Country, 2018-2023
Table 7 Global Data Catalog By Component Market: By Regions, 2018-2023
Table 8 North America Data Catalog By Component Market: By Country, 2018-2023
Table 9 Europe Data Catalog By Component Market: By Country, 2018-2023
Table10 Asia Pacific Data Catalog By Component Market: By Country, 2018-2023
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