Global Data Catalog Market Scope

Global Data Catalog Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global data catalog market is estimated to garner a revenue of approximately USD 2 billion by the end of 2031 by growing at a CAGR of ~23% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 1 billion in the year 2021. The primary factor driving the growth of the global data catalog market is the growing relevance of data for businesses globally. Today data assets are of prime importance to companies in their journeys. It was estimated that in 2020 the amount of data stored in the digital universe would be more than 40 trillion gigabytes.

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With data ruling the business world, more than 95% of businesses treat data assets as means to strengthen their business opportunities, while over 75% consider them to be integral to business strategy formation. It has been observed that approximately 50% of companies use data to improve customer support, and more than 40% use them to forecast future outcomes. Thus, the importance given to data by businesses points to a growing global data catalog market trend.

Global Data Catalog Market: Growth Drivers and Challenges

Growth Drivers

• Massive Development in Digitization – Digitization of business has become integral for the growth and thriving of organizations in the present day. It was predicted that by 2022 more than 60% of the world's GDP would be digitized. As of 2019, more than 65% of organizations either had a digital transformation strategy or were working on it. It is not only big enterprises that are going digital, but also startups are finding it beneficial to run their business digitally. Statistics show that in 2018 more than 50% of startups had adopted a digital business strategy. Digital transformation has been observed even among traditional enterprises. In 2018 the percentage of traditional businesses that took up a digital business strategy was more than 35%. This advancement of digital transformation demands efficient usage of data and thus implies the growth of the global digital catalog market.

• Rapid Growth of Automation Technology – In 2020, it was estimated that more than 65% of businesses have started automating one or more business functions. Automation lays the foundation for the digital transformation of businesses and thus contributes to the growth of the global digital catalog market.

• Greater Demand for Business Intelligence (BI) – In 2020, more than 50% of businesses considered cloud BI a significant factor for their future initiative. Using a data catalog is inevitable for a successful BI initiative as it makes the data easily accessible and credible.

• Greater Acknowledgement of the Importance of Data-driven Decision-making in Business – It has been observed that organizations that employ data-driven decision-making are above 20 times more likely to acquire customers and about 20 times more likely to gain profit.

• Growing Practice of Big Data Generation – In 2020, it was observed that in just a second, a person generated about 2 megabytes of data. A data catalog helps discover and govern big data in a data lake by applying metadata to everything in the data lake.

Challenges

• Data Management Lacking Standardization

• Worries about Data Security and Data Privacy

• Inadequacy of Descriptions and Metadata

The data catalog market is segmented and analyzed for demand and supply by deployment into the cloud and in the premise. Between these, the cloud segment is anticipated to hold the largest market size by the end of 2031. This large market share could be attributed to the increased adoption of cloud computing. It is estimated that cloud data centers process more than 90% of all workloads. Businesses show high trust in cloud computing when storing important data. Over 45% of organizations choose cloud computing for storing their most critical and classified data. Moreover, as of 2020, approximately 6 billion people stored and accessed data on the cloud and their devices. With all their data assets stored in the cloud, businesses require data catalogs to discover, understand and manage their data promptly and effectively.

Global Data Catalog Market Regional Synopsis

Regionally, the global data catalog market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in North America is projected to hold the largest market share by the end of 2031. The most significant factor for the big market share of the region is its extensive digitization programs, especially in the United States (the U.S). As of 2021 United States was deemed the world's most digitally competitive country. The U.S. alone has more than 2700 data centers as of 2022. Businesses in North America increasingly adopting cloud-based data catalogs for their cost effectiveness is another reason for the market growth there. It has been observed that the U.S. was ahead of other countries by several years in its adoption of cloud-based technologies. Additionally, more than 45% of the federal and state agencies in the U.S. are using multiple cloud-based services. These reasons, along with the development of traditional businesses in North America, contribute to the large market share of the region in the global digital catalog market.

Market Segmentation

Our in-depth analysis of the global data catalog market includes the following segments:

Key Companies Dominating the Global Data Catalog Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global data catalog market that are included in our report are IBM, Amazon Web Services, Inc., Microsoft, TIBCO Software Inc., Informatica Inc., Alteryx Inc., Zaloni, Inc., TAMR, Inc., Alation, Inc., Collibra NV, and others.

Global Data Catalog Market: Latest Developments

• December, 2021: Zaloni, Inc. - announced its collaboration with CData Software to offer over 250 data source connectors through the Zaloni Arena Platform. Improved data visibility, reduced time to insight, and guaranteed security and data quality are the unique features of Arena's data sources.

• April, 2021: Informatica Inc. - announced the launch of an integrated service of cloud-native data governance and catalog through Amazon Web Services (AWS). The all-inclusive solution is industry-first and allows enterprises to manage, own, and derive business insights from cloud-based data.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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