Data Catalog Market Size

Data Catalog Market Analysis

The Data Catalog Market size is estimated at USD 2.61 billion in 2024, and is expected to reach USD 2.95 billion by 2029, growing at a CAGR of 2.5% during the forecast period (2024-2029).

The major factors driving the growth of the Data Catalog Market include the shift toward digital transformation, increasing adoption of cloud-based solutions, and the global shift towards remote working has further increased the demand for solutions that help in enhancing the security and comfort of work.

• A catalog is a directory of information that includes details about databases, files, and data sets. It provides information about the location of a data set and additional details about the kind of device on which the file is stored. The need to access large amounts of data collected from various sources to obtain a consolidated perspective of the data for improving the decision-making process, the production of enormous amounts of data, and the expansion of adoption of self-service analytics are principal driving factors for the market.
• The proliferation of unique and proprietary datasets has fueled demand for data catalogs o,n companies, consumers, and end markets, which promise fresh perspectives and insights to boost productivity and forecast outcomes. According to a study by Sisense, about 55% of the companies studied have started to use data to improve efficiency, about 47% to support customers, and about 45% to predict future outcomes. Since small firms are more concerned with efficiency than larger enterprises, the industry is seeing an increase in the demand for products like data catalogs.
• Cloud-based data catalog solutions are gaining high traction due to the multiple benefits of the cloud deployment mode. These advantages include reduced operational expenses, straightforward deployments, and greater scalability in terms of networked resources. They also give businesses using real-time analysis more working freedom and simplify real-time deployment. TIBCO Software, AWS, and IBM are cloud data catalog solutions providers.
• However, the lack of standardization in data management and data security & privacy concerns among different enterprises hampers the market growth. Furthermore, a surge in investment in AI-enabled data catalog solutions and a rise in automation technology are anticipated to create significant opportunities in the data catalog market.
• The trend toward remote work and the requirement for the cloud has increased the demand for workplace efficiency and security solutions. As a result, there is a significantly higher need for various solutions that help businesses with data analytics. There is also a good acceptance trend for these solutions. Therefore, it can be assessed that COVID-19 positively impacted the data catalog market. The movement will continue to grow over the next few years, owing to the need for data analytics to understand the market better.