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Industry Insights
The global data catalog market is expecting healthy ~24.8% CAGR during the forecast period, reveals Market Research Future (MRFR) in an elaborated study. The market also displays the ability to attain a valuation of USD 770 Million in the same period.
Top Impacting Factors
The boom in the global data catalog market is due to features such as the rapidly changing data catalog market in the world. The rising acceptance of self-service and data propagation analytics are also some of the essential factors fuelling market growth at a rapid pace. Even the growing demand for the adoption of Bi tools has emerged to bring significant opportunities in the market during the forecast period.
The market for the data catalog is also anticipated to inflate owing to the ever-increasing volumes of data. The rising number of IoT, cloud apps and digital transformation of processes exponentially has increased the data to make it available. Therefore, the need for data catalog solutions also increased and gave a thrust to the market to expand at a faster rate. In the case of point, Informatica introduced a data catalog enabled with machine learning that automatically scans data assets across the enterprise, catalogs it, and indexes assets for enterprise-wide discovery.
A few of the other driving factors for the global data catalog market are mounting demand for rising automation technology and real-time availability of data, business intelligence tools, reduced cost of infrastructure, and gaining business insights. In fact, the ever-increasing number of cloud apps, the digital transformation of processes, is surging the amount of data available exponentially, thus propelling the need for the data catalog solution.
In spite of these factors, other factors have revealed as growth hinders, and those are data security, lack of standardization in data management, and privacy. These factors can impact the growth of the global data catalog market negatively.
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Segmentation of Market: Data Catalog
From the viewpoint of segmental analysis, the global data catalog market is studied among the segments of component, deployment, consumer type, organization size, and vertical.
Depending on the component segment, the market has included solutions and services. Among these, the solution has included a standalone solution and an integrated solution. Moreover, services have included professional services and managed services.
Depending on the deployment segment, the market has included on-premise and on Cloud.
Depending on consumer type, the market has included enterprise applications, business intelligence tools, and mobile and web applications.
Depending on organization size, the market has included small and medium enterprises and large enterprises.
Depending on the vertical segment, the market has included IT & telecom, BFSI, healthcare, government, retail, and others.
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