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The global Data Governance market size is expected to attain a market size of $2.1billion by 2022, growing at a CAGR of 18.0% during the forecast period.
Data governance is an organizing framework that is used to establish strategy, policy, and objectives, to both manage and change the way data assets are acquired, managed, maintained, and transformed. The data assets acquired are then used across the company and leveraged to consistently improve business profitability. The need to meet regulations & compliance deadlines and to improve & sustain strategic risk management is among the key drivers driving the data governance market globally. Some of the major restraints for the market are categorization of unstructured data and inconsistent business semantics. Additionally, varying structure of regulatory policies & data address validation & quality issues also have a restraining effect on the market.For the effective implementation of data governance, processes are defined concerning how the data is to be stored, archived, backed up, and protected from mishaps, theft, or attack. Standard procedures are developed defining the data usage of authorized personnel.
Based on Component, Data Governance market size is segmented into Solution and Services. Service is divided into Professional and Managed. Professional Services are further divided into Implementation, Consulting & Training, and Support & Maintenance. Based on Application, market is segmented into Sales & Marketing Optimization, Risk Management, Incident Adjustment Management, Product & Process Management, and Others. Based on Function, market is segmented into Operations & IT, Finance, and Legal. Based on Deployment Model, market is segmented into On Premise and Cloud. Based on Vertical, market is segmented into BFSI, Manufacturing, Government, Aerospace & Defense, Education, Telecom & IT, Healthcare and Life Sciences, Retail, and Others.Based on region, Data Governance market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Data Governance market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).
The Data Governance market analysis report covers the analysis of key stake holders of the Data Governance market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Informatica Corporation, SAP SE, SAS Institute Inc, TIBCO Software Inc., Collibra, Inc and Talend, Inc.