Data Governance Global Market Sees Growth Rate Of 25% Through 2022

The global data governance market size is expected to grow from $2.62 billion in 2021 to $3.28 billion in 2022 at a compound annual growth rate (CAGR) of 24.9%. The global data governance market size is expected to grow to $7.42 billion in 2026 at a CAGR of 22.7%.

What is the Global Data Governance Market?

The data governance market consists of sales of data governance solutions and services by entities (organizations, sole traders, and partnerships) that refer to the process of managing the availability, usability, integrity, and security of the information in enterprise systems, based on internal data standards and policies that control data usage. Data governance describes the people, processes, and technologies that are required to manage and protect the company's data assets to ensure that corporate data is generally understandable, correct, complete, trustworthy, secure, and discoverable. Data governance ensures that roles associated with data are clearly defined so that responsibility and accountability are being specified across the enterprise.

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What drives the Global Data Governance Market?

Rapidly increasing growth in data volumes is contributing to the growth of the data governance market. The expanding number of data-generating devices, such as smartphones, wearable electronics, and a slew of other gadgets with sensors, the popularity of the Internet of Things, cloud computing, and the impending adoption of 5G are all contributing to the exponential growth of data volume. Data governance improves data quality, lowers data management expenses, and increases data scientists', other analysts', and business users' access to needed data. For instance, according to FinancesOnline, a US-based SaaS platform provider, there were 74 zettabytes of the total data in the world by the end of 2021. In addition, 1.145 trillion MB of data is created every day in 2021. Therefore, the rapidly increasing growth in data volumes is expected to fuel the growth of the data governance market going forward.

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Global Data Governance Market Segments
The global data governance market is segmented:
By Component: Solutions, Services
By Deployment Model: On-Premise, Cloud
By Organisation Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises
By Application: Incident Management, Process Management, Compliance Management, Risk Management, Audit Management, Data Quality and Security Management, Others
By Industry Vertical: BFSI, Retail and Consumer Goods, Telecom and IT, Government, Healthcare, Manufacturing, Energy and Utilities, Transportation and Logistics, Others
By Geography: The regions covered in the data governance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Data Governance Global Market Report 2022provides market size and growth forecasts for the global data governance market, global data governance market share, data governance market segments and geographies, data governance market competitive landscape including leading competitors’ revenues, profiles and market shares. The data governance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Data Governance Industry Playersinclude IBM Corporation, Oracle, Collibra, Informatica, Talend, TopQuadrant, Alation, TIBCO Software Inc., Varonis, Data Advantage Group, Ataccama, Global Data Excellence, Global IDs, Microsoft Corporation, Adobe Inc, Datum LLC, Infosys Limited, Microfocus, Denodo Technologies, and Amazon Web Services Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.