Data Governance Market Size

Report on Industry Size & Market Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Data Governance Market Report is segmented by deployment (cloud and on-premises), organization size (large-scale business and small and medium-scale business), component (software and service), business function (operation and IT, legal, finance, and other business functions), end-user industry (IT and telecom, healthcare, retail, defense, BFSI, and other end-user industries) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Data Governance Market Size

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Data Governance Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 3.27 Billion
Market Size (2029) USD 8.03 Billion
CAGR (2024 - 2029) 19.72 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Data Governance Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Data Governance Market Analysis

The Data Governance Market size is estimated at USD 3.27 billion in 2024, and is expected to reach USD 8.03 billion by 2029, growing at a CAGR of 19.72% during the forecast period (2024-2029).

The aim of data governance is to promote the availability, quality, as well as security of an organization’s data through various policies and standards.

  • According to Cisco, around five quintillion bytes of data are produced every day. It, in turn, drives the data governance solution needs to ensure that an organization's information assets are formally, properly, proactively, and efficiently managed throughout the enterprise to secure its trust and accountability.
  • Big data and digital transformation efforts are among the primary drivers of data governance programs. With the increase in the volume of data from new data sources, such as the Internet of Things (IoT) technologies, organizations are reconsidering their data management practices to scale their business intelligence.
  • Moreover, data governance solutions help institutions handle different challenges with effective data management solutions that can prevent data duplication and 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.
  • The COVID-19 pandemic has acted as a catalyst for data usage growth. Enterprises across various end-user industries, especially telecom companies across emerging nations, witnessed a surge in data usage due to lockdowns imposed by the governments. In such times, organizations with an established data governance program fared much better than those without one.
  • However, lack of control over data has emerged as a common data governance challenge. Lack of control can result in non-compliance when data is processed unlawfully. Moreover, personal, healthcare, payments, and other sensitive data are tightly regulated.

Data Governance Market Trends

Healthcare Sector Expected to Exhibit Significant Growth Rate

  • The healthcare industry produces significant amounts of data daily, including patient records, medical research, and financial data. This data is crucial for the functioning of the industry, ranging from patient care to managing costs. However, with the rising amounts of data being generated, it becomes increasingly challenging to manage and ensure its accuracy, completeness, and security.
  • Moreover, due to the increasing investments in healthcare, especially in IT infrastructure, there is an enormous surge in data generation. Hence, an information governance strategy is needed for these organizations to manage, control, and understand this vast amount of data produced in a streamlined manner.
  • IoT includes many healthcare applications, from remote monitoring to medical device integration. It also can keep patients healthy and safe and improve how physicians deliver care. But, IoT also raises the data governance need in the healthcare sector. The industry needs help with the massive data produced by sensors, wearables, remote monitors, and other medical devices.
  • There is also an increase in data breach incidences in the healthcare sector. Healthcare data breaches continue to significantly impact the healthcare sector, even as more firms implement updated security solutions to keep up with the flood of new cyber threats. 
  • Through the establishment of standards and policies for data management, healthcare organizations can ensure the integrity and security of their data, while maintaining the compliance with regulatory requirements. Also, data governance can help these organizations save costs by helping to identify areas where resources can be allocated more efficiently.
Data Governance Market : Number of IoT Active Connections, in Healthcare Industry, in Million, in Europe, 2016-2025

Asia Pacific to Witness Highest Growth

  • Asia-Pacific is on the verge of becoming the digital innovation center for the world. Growing digital advancement in this region, such as cloud computing, Internet of Things (IoT), and Big Data analytics, will likely make Asia-Pacific occupy a substantial share of the data governance market.
  • Increasing regulatory mandates in Asia-Pacific will also augment the data governance market growth. 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.
  • Moreover, 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.
  • China also leads in 5G adoption globally. As per GSMA, the number of 5G base stations in China exceeded 2.3 million at the end of 2022, including around 887,000 built during the year. The country will be the first market with 1 billion 5G connections, reaching the milestone by 2025, as per the organization.
  • The advent of 5G networks in the region is expected to further increase the amount of data collected by businesses as faster speeds enable more connected devices, like sensors or cameras, to generate streams of real-time information. This also implies that there is an increased need for responsible management systems that comply with data protection regulations, thereby fuelling the market demand.
Data Governance Market - Growth Rate by Region

Data Governance Industry Overview

The Data Governance Market market is moderately competitive. Major players with a prominent share in the market are focusing on expanding their customer base across foreign countries by leveraging strategic collaborative initiatives to increase their market share and profitability. Key players in the market include Microsoft, IBM, Oracle, etc.

  • November 2022 - At Data Citizens ‘22, Collibra unveiled a series of new innovations. These included new capabilities for Collibra Data Intelligence Cloud that enhance search, collaboration, business process automation, and analytics along with brand new products that support customers with data access governance and data quality and observability in the cloud.
  • April 2022 - Microsoft launched a new platform that combined its data governance and risk management services to enhance data security and privacy. The platform, called Microsoft Purview, combined the Azure Purview and Microsoft 365 Compliance solutions.

Data Governance Market Leaders

  1. Collibra Inc.

  2. TIBCO Software Inc.

  3. Alation Inc.

  4. Microsoft Corporation

  5. IBM Corporation

*Disclaimer: Major Players sorted in no particular order

Data Governance Market Concentration
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Data Governance Market News

  • June 2023 - Oracle announced its plans to develop powerful, generative AI services for organizations across the world. The company will provide native generative AI services to help organizations automate end-to-end business processes, improve decision-making, and enhance customer experiences, in collaboration with Cohere, a leading AI platform for enterprise.
  • May 2023 - Informatica announced significant innovations to its AI-Powered Intelligent Data Management Cloud (IDMC) at Informatica World 2023. The enhancements across data engineering, MDM applications, and data governance are expected to help enterprises reduce costs, maximize resources, and improve productivity, while accelerating time to value.

Data Governance Market Report - 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 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      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

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Data Governance Industry Segmentation

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

The Data Governance Market is segmented by deployment (cloud and on-premises), organization size (large-scale business and small and medium-scale business), component (software and service), business function (operation and IT, legal, finance, and other business functions), end-user industry (IT and Telecom, healthcare, retail, defense, BFSI, and other end-user industries) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The market sizes and forecasts are in terms of value (USD) for all the above segments.

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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Data Governance Market Research Faqs

The Data Governance Market size is expected to reach USD 3.27 billion in 2024 and grow at a CAGR of 19.72% to reach USD 8.03 billion by 2029.

In 2024, the Data Governance Market size is expected to reach USD 3.27 billion.

Collibra Inc., TIBCO Software Inc., Alation Inc., Microsoft Corporation and IBM Corporation are the major companies operating in the Data Governance Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Data Governance Market.

In 2023, the Data Governance Market size was estimated at USD 2.73 billion. The report covers the Data Governance Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Data Governance Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Future trends that are expected in the Data Governance Market include a) Increased cloud adoption b) Rise of privacy-enhancing technologies c) Greater emphasis on data ethics d) Integration of AI for predictive governance

Data Governance Industry Report

The data governance market is witnessing remarkable growth, fueled by the surge in data volume across sectors and the necessity for effective management practices. This growth is propelled by digital transformation efforts, emphasizing data availability, quality, and security through comprehensive governance solutions. The demand for compliance with regulatory standards further accelerates market expansion, notably in the healthcare sector due to its critical data integrity needs. The Asia-Pacific region is becoming a significant market player, due to digital advancements and regulatory requirements. With various deployment models, including cloud-based and on-premises solutions, the market caters to all organization sizes. As the importance of data as a strategic asset becomes universally acknowledged, the data governance market size is set to increase, driven by sophisticated approaches to data management across its lifecycle. Data governance statistics from Mordor Intelligence™ highlight this trend, offering insights into market share, size, and revenue growth, with forecasts and historical analyses available in a free report PDF download.

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Data Governance Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)