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Data Governance Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Data Governance Market is segmented by Deployment (Cloud and On-premise), Organization Size (Large Scale Business and Small and Medium Scale Business), Component (Software and Service), Business Function (Operation and IT, Legal, Finance), End User Industry (IT and Telecom, Healthcare, Retail, Defense, and BFSI) and Geography.

Market Snapshot

Data Governance Market Bar Graph
Study Period:

2018- 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

20.83 %

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Market Overview

The Data Governance Market was valued at USD 1.81 billion in 2020, and it is projected to be worth USD 5.28 billion by 2026, registering a CAGR of over 20.83% during the forecast period (2021 - 2026). COVID-19 pandemic has been an unprecedented and continued unpredictable state of emergency on many levels. In times of crisis, knowledge is power and data has been assisting enterprises with better decision-making. Having consistency is the only way to ensure that insights generated by analyses are useful and actionable.

  • The pandemic has also acted as a catalyst to the growth of data usage. Enterprises across various end-user industries, especially telecom companies across emerging nations, have witnessed a surge in data usage due to lockdowns imposed by the governments. In such times, organizations that have an established data governance program in place have fared much better than those without.
  • According to Cisco, around 5 quintillion bytes of data is produced every day, which, in turn, drives the need for a data governance solution to ensure that an organization’s information assets are formally, properly, proactively, and efficiently managed throughout the enterprise to secure its trust and accountability.
  • Growing adoption of IoT in various sectors, such as IT & telecom, retail, and healthcare, is further expected to boost the demand for data governance market. As per the estimates by Cisco, there will be more than 50 billion smart connected devices in the world by 2020. The data, thus collected from these devices can be analyzed for customer transaction patterns. This information can help a company understand the productivity of its business products. Over the forecast period, deployment of IoT devices and applications in various end–user industries are expected to further drive the demand for the market studied, globally.
  • Data governance solutions help these institutions handle such challenges with effective data management solutions that can prevent data duplication and data loss. Moreover, data governance solutions help industries such as BFSI with enormous volumes of personal and confidential data, to maintain an edge in the market, with constant updates to their policies and procedures.

Scope of the Report

The study on data governance is structured to track the revenues accrued from software tools and solutions that are involved throughout all stages of the data governance - discovery, process definition and data validation.

The functions performed by the data governance solutions under consideration include setting data management parameters, the creation of processes to resolve data issues, and helping businesses in making decisions with high-quality data.

Deployment
Cloud
On-premise
Organization Size
Large-scale Business
Small- and Medium-scale Business
Component
Software
Service
Business Function
Operation and IT
Legal
Finance
Other Business Functions
End-user Industry
IT and Telecom
Healthcare
Retail
Defense
BFSI
Other End-user Industries
Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Key Market Trends

Healthcare Sector Expected to Exhibit Significant Growth Rate

  • Due to the increasing investments in healthcare, especially in IT infrastructure, there has been an enormous surge in data generation. Hence, an information governance strategy is needed for these organizations for managing, controlling, and understanding this enormous amount of data being produced in a streamlined manner.
  • IoT has a lot of applications in healthcare, from remote monitoring to medical device integration. It also has the potential to keep patients healthy and safe and improve how physicians deliver care as well. But, IoT also raises the need for data governance for the healthcare sector. The industry struggles with the massive amount of data produced by sensors, wearables, remote monitors, and other medical devices.
  • There has also been an increase in the number of data breach incidences in the healthcare sector. For instance, recently, in January 2020, Chicago-based Sinai Health System reported a cybersecurity incident that occurred in the fall of 2019, which possibly exposed the personal health information of more than 12,500 people. Such incidences are also encouraging organizations to adopt data governance solutions.
  • Furthermore, many healthcare companies are planning for data-based technologies such as artificial intelligence, big data, and IoT. For instance, in a recent survey conducted by Optum in 2020, 40% of healthcare leaders plan to monitor IoT devices, while many plans for AI will create a need for data governance solutions.
Data Governance  Market Share

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Asia Pacific to Witness Highest Growth

  • Asia-Pacific is on the verge of becoming the center of digital innovation for the world. Growing digital advancement in this region, such as cloud computing, Internet of Things (IoT), and Big Data analytics, is likely to make Asia-Pacific occupy a substantial share in the data governance market.
  • Increasing regulatory mandates in Asia-Pacific will also augment the growth of the data governance market. For instance, the China Banking and Insurance Regulatory Commission (CBIRC) issued the data governance guideline for banking financial institutions to improve the authenticity, accuracy, timeliness, and integrity of data and protect clients' privacy through enhanced data security measures.
  • In September 2020, China launched a global data security initiative outlining principles that should be followed in areas from personal information to espionage. The initiative, announced by Foreign Minister Wang Yi in Beijing, comes as the US continues to pressure China's largest technology companies and convince countries worldwide to block them.
Data Governance  Market Growth

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Competitive Landscape

As data governance is the key to delivering trust and compliance, every organization needs to derive real value from its data. The market is fragmented, with the companies entering into strategic mergers and acquisitions to leverage the growing demand for data governance solutions.

  • November 2020 - Ataccama Corporation launched Ataccama ONE Gen2, a new platform for data management & governance. Ataccama ONE has been assisting the organizations in setting up hybrid environments, provided they have apps running on the cloud, SaaS and PaaS, and on-prem. This solution supports distributed environments and edge computing to allow the processing of data without moving it anywhere.
  • November 2020 - Informatica launched a comprehensive data governance solution for customers looking to govern data into the Snowflake Data Cloud, as well as new capabilities for Snowflake. Informatica is expected to support all of Snowflake’s core workloads, such as Data Engineering, Data Warehouse, Data Lakes, Data Science, Data Applications, and Data Sharing, as Snowflake’s Data Lake Partner of the Year.

Recent Developments

  • December 2020 - IBM Corporation formed an agreement to acquire Nordcloud, a European company dealing with application transformation, application management and cloud migration. This acquisition is expected to help further IBM’s application security offerings and strengthen the growth of the hybrid cloud platform.
  • November 2020 - The Dutch government issued new security regulations for telecom providers, including rules on mobile equipment and software suppliers and a requirement that only people with background checks are allowed to access the networks. The new laws also specified that telecoms providers must retain network data for at least three months in case it is needed to be analyzed. The government security regulations create a need for data governance solutions for data privacy and management.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Market Drivers

      1. 4.4.1 Rising Regulatory and Compliance Mandates

      2. 4.4.2 Growth of Data Volume

    5. 4.5 Market Restraints

      1. 4.5.1 Varying Structure of Regulatory Policies and Data Address Validation

    6. 4.6 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 Deployment

      1. 5.1.1 Cloud

      2. 5.1.2 On-premise

    2. 5.2 Organization Size

      1. 5.2.1 Large-scale Business

      2. 5.2.2 Small- and Medium-scale Business

    3. 5.3 Component

      1. 5.3.1 Software

      2. 5.3.2 Service

    4. 5.4 Business Function

      1. 5.4.1 Operation and IT

      2. 5.4.2 Legal

      3. 5.4.3 Finance

      4. 5.4.4 Other Business Functions

    5. 5.5 End-user Industry

      1. 5.5.1 IT and Telecom

      2. 5.5.2 Healthcare

      3. 5.5.3 Retail

      4. 5.5.4 Defense

      5. 5.5.5 BFSI

      6. 5.5.6 Other End-user Industries

    6. 5.6 Geography

      1. 5.6.1 North America

      2. 5.6.2 Europe

      3. 5.6.3 Asia Pacific

      4. 5.6.4 Latin America

      5. 5.6.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Collibra NV

      2. 6.1.2 SAS Institute Inc.

      3. 6.1.3 TIBCO Software Inc.

      4. 6.1.4 SAP SE

      5. 6.1.5 Alation Inc.

      6. 6.1.6 Alfresco Software Inc.

      7. 6.1.7 Informatica Inc.

      8. 6.1.8 Microsoft Corporation

      9. 6.1.9 Symantec Corporation (Norton Lifelock)

      10. 6.1.10 IBM Corporation

      11. 6.1.11 Oracle Corporation

      12. 6.1.12 Talend SA

      13. 6.1.13 Varonis Systems Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Data Governance Market market is studied from 2018 - 2026.

The Data Governance Market is growing at a CAGR of 20.83% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Collibra Inc.
  • TIBCO Software Inc.
  • Alation Inc.
  • Microsoft Corporation
  • IBM Corporation

Are the major companies operating in Data Governance Market.

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