Key Facts About The Data Governance Market: Read More Below

San Francisco, California, August 22, 2018: A recent report added by TMR Research to their vast repository, titled, “Data Governance Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” forecasts the market to bode well mainly due to extensive requirement for better data management and analysis in various companies and organizations. The report serves as a prime insight to all candidates interested in the market.

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With companies and organization mainly in the government sectors evolving tremendously, the rate at which data is generated has increased up to an extreme level. In order to ensure that this data is properly captured, stored, analyzed, and utilized in relevant purposes, many organizations are increasingly employing quality data governance procedures. Thus, an increase in data quantities is directly causing the global data governance market to rake in a spectacular progress. In addition, a rise in demand for better cloud computing and big data analytics too has been providing an impetus to the global data governance market’s growth. This is mainly due to most government based operations being data driven, which makes it necessary for properly processing and analyzing information gathered through cloud computing and big data analytical programs.

However, the global data governance market is majorly being hindered owing to security issues associated with the use of data analysis programs. Moreover, many organizations prefer using cheap low quality data governance programs, which often grant them inconsistent results. This could affect their work tremendously, thus existing as a prime obstacle in the market’s growth. However, many players are working on developing quality data governance programs, which could reduce effects of the restraints up to a certain extent.

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Oracle Corporation, Informatica Corporation, Collibra, Inc, SAS Institute Inc, IBM Corporation, SAP SE, Talend, Inc., and TIBCO Software Inc., are key players operating in the global data governance market.

Data Governance Market held the Largest Share during 2017 – 2025

Global Data Governance Market: Snapshot

A strong data governance program is increasingly becoming crucial for companies these days. Agile ones are already expending time and money into data management and usage and designing processes for resolving data issues. They are leveraging high-quality data and well-managed information assets to uncover helpful insights and strategic decisions.

Effectively deploying data governance framework, however, is a challenging task. This is because of various complications related to data ownership, data inconsistencies across various departments, and the massive volumes of data. Notwithstanding such roadblocks, the global data governance market is slated to make gigantic strides on account of business entities’ rising need to capture and analyze data which is literally exploding. Data management primarily centers on keeping up with regulations and compliance deadlines and improving and sustaining strategic risk management.

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From a geographical standpoint, North America leads the market on the back of surging uptake of cloud-based machine learning and big data. Presence of a large number of key vendors in the region have also been driving expansion in the market. Europe is another major market that trails North America. Owing to the same reason as North America, the region will likely progress at a healthy clip in the next few years.

In terms of growth rate, however, Asia Pacific market will steal a march over all others. This is because the market in the region is still in a nascent stage. With fast-paced economic development, demand from mushrooming small and medium enterprises (SMEs) for cost-effective data governance solutions will likely up demand in the market.

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Global Data Governance Market: Overview

With data churned out by various organizations multiplying at a swift pace, most savvy ones are investing in the data governance market. Data governance is an essential component of data management and is comprised of data architecture management, data quality management, and reference and master data management, among others. To put it simply, data governance involves overall management of the usability, availability, integrity, and security of the data employed in an enterprise. A proper data governance program entails a governing body or council, a set of procedures, and a plan to accomplish those procedures.

Global Data Governance Market: Key Trends

The global data governance market is expected to show stellar growth with the pressing need to capture and analyze data expanding at a lightening pace on account of the rise of digital technologies such as Internet of Things (IoT), cloud computing and big data analytics. Data management involves keeping up with regulations and compliance deadlines and improving and sustaining strategic risk management. The increasingly data-driven nature of operations across every industry sector and the higher allocation on overall IT globally will bode well for the market in the near future.

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Major deterrents of the market are the complexity in classification of unstructured data and inconsistent business semantics. Further, different structures of regulatory policies and data address validation and quality issues are also restraining the market.

Global Data Governance Market: Market Potential

One factor that can slam the brakes on the swift pace of digital transformation that the world is currently witnessing is the absence of overall governance of the data used by a particular organization. Concerns over privacy, security and departmental silos are posing a challenge on sharing of data internally and externally, monetizing of data as well as the analysis of data for the benefit of the business and its customers.

For proper deployment of data governance, processes are defined concerning how the data is to be stored, archived, backed up, and protected from theft or other attacks. Data governance can be both on-premises and hosted or on-cloud. The different end-use industry verticals in the global data governance market that spell an opportunity of companies operating in the market are banking, financial services, and insurance (BFSI), telecommunications and IT, manufacturing, retail and ecommerce, healthcare and life sciences, energy and utilities, and government and defense.

Global Data Governance Market: Regional Outlook 

Geography-wise, the key regions in the global data governance market are North America, Asia Pacific, Europe, the Middle East and Africa and the Rest of the World. Among them, North America holds a dominant position due to massive investments in cloud-based machine learning and big data, and the concentration of numerous vendors in the region. Europe is the next major region after North America and is expected to grow at a healthy clip in the upcoming years.

In the near future, however, Asia Pacific market – which is currently in a nascent stage – will likely clock maximum growth. At present, the region is in its initial growth phase which will likely pick up steam substantially on account of the rising demand from small and medium enterprises (SMEs) for cost-effective data governance solutions.

Global Data Governance Market: Competitive Analysis 

To assess the competition in the global data governance market, the report profiles companies such as Informatica Corporation, IBM Corporation, SAS Institute Inc, Oracle Corporation, Collibra, Inc, SAP SE, TIBCO Software Inc., and Talend, Inc. The report sheds light on their key business strategies and trajectory so far, while also bringing to the fore their market shares and revenues.

Savviest Enterprises Seek Data Governance to Efficiently Manage Data

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.