Data Catalog Market size to grow by USD 1.38 billion from 2023 to 2028, Growth Driven by Rising Demand for Self-service Analytics- Technavio

NEW YORK, Jan. 9, 2024 /PRNewswire/ — The “data catalog market by component (solutions and services), deployment (cloud and on-premises), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2024-2028″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the data catalog market between 2023 and 2028 is USD 1.38 billion.

Rising demand for self-service analytics is the key factor driving market growth. This growth is influenced by factors like Data Discovery, Data Governance, Data Lineage, and Data Classification, all integral components of Metadata Management. Furthermore, the demand for Data Integration, Data Quality, and effective Data Stewardship accentuates this trend, emphasizing the significant role of Data Assets. This confluence of factors highlights the market’s growth, driven primarily by the quest for self-service analytics.

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Market Trend

The Data Catalog Market is witnessing a notable trend driven by the emergence of data mesh architecture, significantly influencing its market growth. This trend correlates with Data Collaboration, Data Security, and Data Profiling, integral aspects of Cataloging Tools and Data Curation. Moreover, the trend aligns with advanced Data Management strategies involving Data Virtualization, Business Glossary, and efficient Data Synchronization. The evolution of Data Lifecycle practices, alongside innovations in Data Warehouse technologies, highlights a substantial impact of the data mesh architecture on market dynamics.

Market Challenge

Concerns associated with maintaining catalog accuracy over time are a significant challenge restricting market growth. This challenge intertwines with Master Data Management (MDM), Schema Management, and Data Dictionary precision, crucial for robust Cloud Data Catalog performance. Furthermore, maintaining accuracy impacts Data Access, Data Storage, and Search and Discovery functionalities, impacting the efficacy of Big Data Catalog operations. Addressing this challenge becomes imperative amid the demand for reliable Self-Service Data Discovery amidst evolving Data Analytics landscapes.

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The data catalog market is segmented by Component (Solutions and Services), Deployment (Cloud and On-premises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The market share growth by the solutions segment will be significant during the forecast period. Data catalog solutions are integral to modern data management and analytics ecosystems, addressing challenges in data discovery, governance, collaboration, and overall data lifecycle management. They enhance efficiency by enabling users to easily search and discover relevant datasets for analytical or reporting needs, promoting data reuse and facilitating the identification of the most suitable datasets. Additionally, these solutions automate the extraction and updating of metadata from various sources, databases, and files, ensuring the data catalog remains current, minimizing manual efforts, and reflecting real-time changes in data sources.North America is estimated to contribute 39% to the growth of the global market during the forecast period.

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Key Companies in the Data Catalog Market:

Alation Inc., Alex Solutions Pty Ltd , Alphabet Inc., Alteryx Inc., The Apache Software Foundation, Atlan Pte. Ltd., Collibra., Denodo Technologies Inc., Hitachi Vantara LLC, Immuta Inc., Informatica Inc., International Business Machines Corp., Microsoft Corp., Octopai, Oracle Corp., Precisely, Solidatus, Talend Inc, Zaloni Inc., and Tableau Software LLC

Related Reports:

The Master Data Management (MDM) Solutions Market size is estimated to grow at a CAGR of 16.72% between 2023 and 2028. The market size is forecast to increase by USD 20.29 billion. 

The Data Preparation Tools Market size is estimated to grow at a CAGR of 22.9% between 2022 and 2027. The market size is forecast to increase by USD 6,659.71 million. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Component

Market Segmentation by Deployment 

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio