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Exponential Growth In Data Volumes Drives The Data Governance Market: The Driving Engine Behind Data Governance Market Evolution in 2025
Data Governance Market
Data Governance Market Size Growth Forecast: What to Expect by 2025?
The rapid expansion of the data governance market size in recent years is quite noticeable. Predictions show an increase from $4.35 billion in 2024 to $5.09 billion in 2025, with the compound annual growth rate (CAGR) standing at 17.0%. Factors that have contributed to growth during the historic period are regulatory compliance requirements, concerns about data quality and accuracy, risk mitigation and security measures, business process optimization, and heightened understanding of the value of data.
How Will the Data Governance Market Size Evolve and Grow by 2029?
Expectations are high for a significant surge in the data governance market size in the coming years. By 2029, it's projected to reach $12.14 billion, illustrating a compound annual growth rate (CAGR) of 24.3%. This predicted expansion during the forecast period can be linked to several factors including heightened focus on data privacy and ethics, initiatives surrounding digital transformation, control and democratization of data access, global data sharing, and globalization. The forecast period also foresees key trends such as the utilization of blockchain for improved data trust and transparency, data cataloging, meta-data management, the emergence of chief data officers (CDOs), governance protocols for unstructured data, and the implementation of data governance frameworks and standards.
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What Drivers Are Propelling the Growth of Data Governance Market Forward?
The surge in data volumes is significantly influencing the expansion of the data governance market. This can be attributed to the rise in devices that generate data like smartphones, wearable technology, and numerous other sensor-equipped gadgets. Further factors such as the widespread use of the Internet of Things, cloud computing, and the upcoming transition to 5G are expediting this rise in data volume. Data governance enhances the quality of data, reduces the cost of managing data, and boosts data accessibility for data scientists, analysts, and business users. For example, a report conducted by The Linux Foundation in December 2022 revealed a sizable rise in data growth for typical end-user organizations, hitting 2,208 TB, marking a 215.43% increase from the 700 TB reported in 2021. Consequently, the escalating growth in data volumes is anticipated to drive the expansion of the data governance market in the forthcoming period.
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Which Emerging Trends Are Transforming the Data Governance Market in 2025?
Leading companies in the data governance market are leveraging strategic partnerships as a strategy to bolster technology integration and broaden their market influence. A strategic partnership generally involves two or more entities pooling their resources, know-how, and efforts to achieve shared goals or objectives. For example, in May 2024, CG Infinity, an American tech firm, formed a partnership with BigID for an undisclosed sum. The goal of this partnership is to redefine data discovery and intelligence by deploying state-of-the-art AI governance, data security, privacy compliance, and practical data protection solutions to amplify data value. Their collaboration merges CG Infinity's nearly three-decade-long experience with the top-tier solutions offered by BigID, empowering clients to optimize data value while navigating a shifting landscape. CG Infinity, stepping in as a new service partner, will offer advisory, implementation, technical, and procurement services, underscoring a 'people first + driven to transform' methodology to devising tailor-made solutions.
What Are the Key Segments in the Data Governance Market?
The data governancemarket covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Model: On-Premise, Cloud
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Application: Incident Management, Process Management, Compliance Management, Risk Management, Audit Management, Data Quality And Security Management, Other Applications
5) By Industry Vertical: BFSI, Retail And Consumer Goods, Telecom And IT, Government, Healthcare, Manufacturing, Energy And Utilities, Transportation And Logistics, Other Industry Verticals
Subsegments:
1) By Solutions: Data Quality Management Tools, Data Catalogs, Metadata Management Solutions, Data Privacy And Compliance Solutions, Master Data Management (MDM) Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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Who Are the Key Players Shaping the Data Governance Market's Competitive Landscape?
Major companies operating in the data governance market include Amazon.com Inc., Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Infosys Limited, SAS Institute Inc., Micro Focus International plc, Informatica LLC, TIBCO Software Inc., Varonis Systems Inc., Talend Inc., Collibra Inc., Denodo Technologies, Ataccama Corporation, Magnitude Software Inc., Infogix Inc., Infogix Inc., Reltio Inc., erwin Inc., Alation Inc., Syncsort Incorporated, Orchestra Networks Inc., Orchestra Networks Inc., Global IDs Inc., TopQuadrant Inc., Information Builders Inc., Innovative Routines International Inc., Global Data Excellence SA, Datum LLC, Data Advantage Group Inc.
What Geographic Markets Are Powering Growth in the Data Governance Market?
North America was the largest region in the data governance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data governance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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