Data Catalog Market is Projected To Reach USD 594.9 Million By 2028, Growing at A CAGR of 14.6% | Valuates Reports

BANGALORE, India, Oct. 17, 2022 /PRNewswire/ -- Data Catalog market is segmented by Type - Cloud, On-Premises, by Application - Manufacturing, Healthcare, BFSI, Research and Academia, Media and Entertainment, Retail and eCommerce, Government and Defense, Telecom and IT, Others. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Software Category.

Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Data Catalog estimated at USD 262.6 million in the year 2022, is projected to reach a revised size of USD 594.9 million by 2028, growing at a CAGR of 14.6% during the forecast period 2022-2028.

Major Factors Driving The Growth of The Data Catalog Market are

The main factors driving the Data Catalog market are the expansion of self-analytics data, the abundance of data in the modern environment, and the rising demand for business intelligence tools. 

Additionally, the expansion of the data catalog market is fueled by the real-time availability of data, which lowers infrastructure costs and provides business insights.

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TRENDS INFLUENCING THE GROWTH OF DATA CATALOG MARKET

Many large, successful enterprises depend on data catalog solutions since so many businesses need to find the right data for analysis. Companies are subject to harsh fines when obtaining data from numerous data sources due to non-compliance or exploitation of sensitive information of customers or their clients through data breaches or by failing to follow compliance norms. Implementing data catalog solutions would make it simple for businesses to find, categorize, curate, and prepare data sources, saving them money and time while ultimately delivering a fantastic value proposition to both businesses and their clients. Organizations are using data catalog solutions more frequently to effectively manage the expanding data volume, boost productivity, and ensure business continuity. This factor is expected to drive the growth of the data catalog market. 

Data Catalog helps scale analytics self-service. This factor is expected to drive the growth of the Data Catalog market. Data Catalog provides business users with a framework of understanding regarding the context, provenance, relationship, and consumption of data. To increase data reuse, Data Catalog enables users to search data across various data systems and user-generated data sets. Data Catalog can serve as the mentor who teaches users about data standards and consistent data practices by providing documented business knowledge and intended usage.

A business analyst's access to data knowledge can be increased by using Data Catalog to incorporate a data dictionary within the analytics user interface. As a result, the knowledge gap between data engineering and business is filled, and data translators are given the tools they need to rapidly teach and assist analytics users.

Furthermore, Data Catalog improves data quality by closing the data consumption loop. This in turn is expected to increase the growth of the Data Catalog Market. Data Catalog can equitably share business and IT's understanding of data. It provides business teams with a perspective on how data are propagated by closing the data generation and consumption loop. The cost of data purification and the complexity of organizational data architecture are made visible to the business and IT by the systematic data lineage that links dissimilar systems. 

The language barrier is removed by Data Catalog, allowing business users to grasp the whole data life-cycle, from data collection to analysis to projects involving data science. This guarantees that data consumption and data quality are considered when designing applications and that analytics are developed from an enterprise perspective. Data Catalog makes it easier for data engineers to work together on data standards and minimizes pointless data cleanup by showing system lineage across BI, data warehouse, and data lake. This makes it easier for data teams to provide reliable data that is prepared for analysis and data science projects. 

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DATA CATALOG MARKET SHARE ANALYSIS

The market is divided into Cloud and On-Premises segments based on the type of deployment mode. Due to the fact that end-users in the Data Catalog Market can access comprehensive and flexible solutions through cloud-based solutions, the cloud deployment method segment commands a sizable market share.

A sizable portion of market shares is held by the BFSI sector. Retail and e-commerce, in contrast, are the market segments that are expanding at the fastest rates. This is because of the growing need for proper data access to information stored at various data sources, declining infrastructure costs, accelerating time to market, and improving business process efficiency.

Due to the growing use of cutting-edge technology in nations like the US and Canada and the shifting nature of the global Data Catalog Markets, the North American region currently holds a sizable portion of the market. As a result of increased infrastructural development and huge data growth across all industries, Asia Pacific is currently the region with the fastest market growth for data catalogs globally.

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Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

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Key players

• IBM
• Collibra
• Alation
• TIBCO Software
• Informatica
• Alteryx
• Datawatch
• Microsoft
• AWS
• Waterline Data

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