San Francisco, California, May 25, 2017: For companies to ensure hindrance-free operations, incorporating a strong data governance program has become imperative. In a report, titled “Data Governance Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” TMR Research covers the various factors encouraging uptake of data governance. It also presents a round-up of restraints forecast to pose threat and key challenges companies might witness at an individual level when implementing data governance.
Data churned in organizations across the world is multiplying at a staggering pace. The savviest among organizations have started investing in data governance, which is a key component for efficient data management. Data governance encompasses data quality management, data architecture management, and master and reference data management. In simple words, the technology is put to managing the overall usability, integrity, availability, and security of data used by enterprises. An efficient data governance program is not possible without a proper set of procedures, a plan for accomplishing the procedures, and a governing body or council.
It is important to note in this regard, in the absence of proper governance, this swift pace of digital transformation can be hindered. Furthermore, concerns pertaining to departmental silos, security, and privacy could slam brakes on swift pace of growth.
Companies, agile among the rest, have started expending time and money into data governance to resolves persisting data issues. These companies are leveraging high-quality data, besides well-managed information to uncover insights for strategic decisions. However, deploying data governance framework could prove a daunting task. The method involves several complications related to data inconsistencies, data ownership, and managing massive volume of data. Notwithstanding these bottlenecks, strong growth is on card for the global data governance market. As data management enables organizations in keeping up with regulations, sustaining risk management, and complying deadlines the demand for data governance is expected to rise exponentially in the coming years.
Regionally, enterprises operating in the North America data governance market has witnessed significantly high uptake of big data and cloud-based machine learning. Also several large vendors are domiciled in North America, which has led to the expansion of the data governance management in the region. Besides this, Europe also have lucrative opportunities for the market in its kitty.
However, in terms pace of growth, Asia Pacific could steal the march as governments across emerging nations exhibiting high investment in IT and technology sectors. Considering the fast-paced economic development in these nations, the demand for data governance is expected to rise across the mushrooming small and medium enterprises in Asia Pacific.
Some of the prominent companies operating in the global data governance market are IBM Corporation, Informatica Corporation, Oracle Corporation, SAS Institute Inc, TIBCO Software Inc., SAP SE, Collibra, Inc, and Talend, Inc.