The Latin America, Middle East and Africa Data Governance Market would witness market growth of 23.0% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Data Governance Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $347.8 million by 2031. The Argentina market is showcasing a CAGR of 23.7% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 22.7% during (2024 - 2031).
Effective Data stewardship builds customer trust and satisfaction by ensuring customer data’s confidentiality, integrity, and security. Organizations may commit to safeguarding customer data and adhering to privacy requirements by implementing governance policies for privacy, consent management, and data protection. This will increase customer satisfaction, trust, and loyalty.
Several trends are shaping the evolution of Data stewardship practices and technologies. These trends reflect the changing landscape of data management, including emerging technologies, regulatory requirements, and organizational priorities. DGaaS platforms offer pre-built frameworks, tools, and expertise for implementing data management practices. DGaaS solutions allow organizations to scale Data stewardship initiatives as needed and access specialized capabilities and domain expertise.
Extensive data generated by digital healthcare can be utilized to optimize healthcare delivery, improve patient experiences, and improve clinical outcomes. According to the International Trade Administration (ITA), Saudi Arabia is poised to emerge as one of the Gulf Cooperation Council (GCC) region’s rapidly expanding digital health sectors. The government has earmarked $1.5 billion for healthcare IT and digital transformation initiatives. Similarly, Brazil is investing money in smart grid technology and clean energy sources like hydropower, solar power, and wind to improve energy efficiency and lower carbon emissions. According to the ITA, Brazil is the largest electricity sector in Latin America, the world’s sixth-largest electricity consumer, and has the seventh-largest electricity generation capacity. The renewable energy sector accounts for 83% of the Brazilian electricity matrix, while the global average is around 25%. The renewable energy industry has continuously expanded over the years through private investment. Thus, the expansion of the digital healthcare sector and the rising renewable energy sector in the region is propelling the market’s growth.
Free Valuable Insights: The Worldwide Data Governance Market is Projected to reach USD 15.4 Billion by 2031, at a CAGR of 20.5%
Based on Offering, the market is segmented into Solution and Services. Based on Application, the market is segmented into Risk Management, Process Management, Incident Management, Audit Management, Compliance Management, Data Quality & Security Management and Others. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into BFSI, Government, Energy & Utilities, Healthcare & Lifesciences, Transportation & Logistics, Manufacturing, Retail & Consumer Goods, Telecom & IT and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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