The latest report by IMARC Group, titled ‘Data Governance Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,' offers a comprehensive analysis of the data governance market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The global data governance market size reached US$ 3.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.7 Billion by 2032, exhibiting a growth rate (CAGR) of 16.52% during 2024-2032.

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Data Governance Market Overview:

Data governance involves the management of data availability, usability, integrity, and security in enterprise systems, based on internal data standards and policies that also control data usage. Effective data governance ensures that data is consistent and trustworthy and doesn't get misused. This framework includes processes, roles, standards, and metrics that ensure the effective and efficient use of information in enabling an organization to achieve its goals. It covers the entire lifecycle of data, from acquisition to deletion, encompassing the quality, consistency, usability, and security of the data. Additionally, the mechanisms of data governance provide a clear advantage by improving data quality, making data accessible to all stakeholders, and facilitating compliance with regulations like GDPR and HIPAA. This leads to better decision-making processes within businesses, optimized performance, reduced operational costs, and enhanced risk management.

Data Governance Market Trends:

The global market for data governance is primarily driven by the increasing regulatory compliance requirements across various industries. In line with this, the growing volume of data generated by enterprises, which necessitates robust management and security, is also providing an impetus to the market. Moreover, the heightened need for improved data quality and operational efficiency, which supports business growth, is acting as a significant growth-inducing factor. In addition to this, the escalating adoption of advanced analytics and machine learning technologies that require well-governed data is pushing enterprises to invest in robust data governance solutions. Besides this, the rapid digital transformation initiatives that embed data governance into business processes are creating lucrative opportunities for providers.

Also, the expanding reliance on cloud-based solutions, which necessitates stringent data governance to ensure data security and privacy, is impacting the market positively. The market is further driven by the strategic collaborations and partnerships among tech giants to innovate and enhance data governance capabilities. Apart from this, the rising awareness among businesses about the risks associated with data breaches and data redundancy is propelling the market. Some of the other factors contributing to the market include the increasing enterprise data management strategies to enhance customer experience, the proliferation of data across businesses requiring consistent data governance frameworks, and extensive research and development activities in data management solutions.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Adobe Inc.
• Alation Inc.
• Amazon Web Services Inc. (Amazon.com Inc.)
• Collibra
• Infosys Limited
• International Business Machines Corporation
• Microsoft Corporation
• MicroStrategy Incorporated
• Oracle Corporation
• SAP SE
• SAS Institute Inc.
• Teradata Corporation
• TIBCO Software Inc.
• Varonis Systems Inc.

Data Governance Market Segmentation:

Our report has categorized the market based on region, component, deployment mode, organization size, business function, application, and end use industry.

Breakup by Component:

• Software
• Services

Breakup by Deployment Mode:

• Cloud-based
• On-premises

Breakup by Organization Size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

Breakup by Business Function:

• Operation and IT
• Legal
• Finance
• Sales and Marketing
• Others

Breakup by Application:

• Incident Management
• Process Management
• Risk and Compliance Management
• Audit Management
• Data Quality and Security Management
• Others

Breakup by End Use Industry:

• IT and Telecom
• Healthcare
• Retail
• Defense
• BFSI
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About US:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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