Excessive Data Generation across Industry Verticals to Push Sales of Data Catalogs: Fact.MR Report

The Rise Of Self-Analytics Data, Increasing Amount Of Data In The Modern Environment, And Growing Demand For Business Intelligence Tools Are The Primary Reasons Driving The Global Data Catalog Market

Rockville, Jan. 05, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global data catalog market is predicted to touch US$ 5 billion by 2033, booming at 21.7% CAGR from 2023 to 2033.

A data catalog assists enterprises in finding and managing vast amounts of data, such as files, tables, and databases housed in the company's ERP, human resources, and e-Commerce systems. It centralizes metadata in one place to provide a comprehensive view of each piece of data throughout databases and includes information about the data's location, statistics, profile comments, and summaries.

Download Sample Copy of This Report:URL

Massive growth in the information technology (IT) industry is driving the global data catalog market. In addition, growing digitization across multiple sectors and a significant increase in data generation have prompted many enterprises to actively engage in the implementation of data catalog solutions, hence boosting the market growth. Furthermore, the growing integration of cloud-based technologies with data catalogs to aid in the creation of tailored data for data analysts is favorably influencing the global market growth.

The outbreak of COVID-19 prompted many organizations to adopt the work-from-home (WFH) method, which is driving global data catalog market growth. Moreover, continual advancements in the manufacturing, BSFI, and e-Commerce industries and increased investments in comprehensive research and development are expected to boost the market even further.

Key Takeaways from Market Study

The global data catalog market is valued at US$ 700 million in 2023.

The market is projected to reach US$ 5 billion by the end of 2033.

Worldwide demand for data catalogs is anticipated to surge at a CAGR of 21.7% from 2023 to 2033.

The North American market is estimated to evolve rapidly at a CAGR of 18.9% during the forecast period.

The BFSI segment accounted for 39% share of the global market in 2022.

Get Customization on this Report for Specific Research Solutions:URL

Winning Strategy

Key market players are focusing on introducing advanced products in order to get a competitive advantage.

Cloudera introduced Cloudera Data Platform (CDP) One in August 2022, a software-as-a-service (SaaS) product that includes all characteristics of a data lakehouse. CDP enables quick and easy exploratory data science and self-service analytics on any sort of data.

TIBCO released TIBCO WebFOCUS 9.0.0 in April 2022. The product includes sophisticated capabilities such as TIBCO WebFOCUS Container Edition and a hub for a fully tailored customer experience, as well as significant updates to TIBCO WebFOCUS Designer. The product's novel features improved the ML/AI experience for company analysts, engineers, and users by leveraging analytics and data across the enterprise.

Competitive Landscape

Key players in the data catalog market are actively pursuing marketing tactics such as technological innovations, acquisitions, collaborations, and R&D activities to expand and improve their worldwide presence. Furthermore, several startups are raising funds to strengthen their market position.

Castor, a startup building a data catalog solution for businesses, announced in June 2022 that it had raised US$ 23.5 million in a Series A funding round led by Blossom, with participation from angel investors, including Dataiku's founder and Florian Douetteau. Castor intends to use the new funds to grow its sales and marketing teams in the United States and expand its platform's AI capabilities.

Alation joined forces with Fivetran, a global pioneer in modern data integration, in September 2022. Following this collaboration, the organizations wanted to help their clients comprehend and locate the entire context of data in the most recent data stack. The cooperation consolidated reliable, controlled data from multiple sources into a single view by utilizing the Fivetran Metadata API. This increases data visibility and enhances decision-making and data pipelines.

IBM inked an arrangement with Amazon Web Services, a subsidiary of Amazon, in May 2022. With this arrangement, the company concentrated on supplying a huge spectrum of software catalogs as Software-as-a-Service (SaaS) on the AWS platform.

IBM acquired Databand, a provider of visibility and monitoring services for data pipelines to enterprises, in July 2022. With this acquisition, IBM sought to incorporate Databand's observability services into its data fabric platform, allowing the company to access and regulate data for analytics, BI, and machine learning. The IBM data fabric platform contains the IBM Watson Knowledge Catalog, which provides data governance and data catalog capabilities to enable customers to recognize and use data for data analytics training or machine learning.

Key Companies Profiled

Alation, Inc

Alteryx, Inc

Informatica

Amazon Web Services, Inc

Altair Engineering, Inc

IBM Corporation

Boomi, Inc

Microsoft Corporation

Get Full Access of Complete Report:URL

Key Segments of Data Catalog Industry Research

By Component:

Solutions

Services

By Data Consumer:

BI Tools

Enterprise Applications

Mobile & Web Applications

By Deployment:

Cloud

On-Premise

By End User:

BFSI

Retail & e-Commerce

Healthcare

Manufacturing

Others

By Region:

North America

Latin America

Europe

APAC

MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global data catalog market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the market on the basis of component (solutions, services), data consumer (BI tools, enterprise applications, mobile & web applications), deployment (cloud, on-premise), and end user (BFSI, retail & e-Commerce, healthcare, manufacturing, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

Check out more related studies published by Fact.MR Research:

Data as a Service Market - From the family of ‘as a Service' (aaS), Data as a Service is standing out as one of the crucial members. The importance of Data as a Service is increasing, as data availability is an essential part of the enterprise's operations. With the increasing digitalization at the enterprises level.

Data Annotation Tools Market - The global data annotation tools market is anticipated to expand at a CAGR of 15.1% during the forecast period from 2022-2032. The market is expected to be valued at US$ 1.3 Bn by 2022-end, and is expected to reach US$ 5.3 Bn by 2032.

Data Acquisition (DAQ) System Market - The global data acquisition (DAQ) system market was valued at US$ 1.7 Billion in 2021 and is projected to be valued at US$ 1.8 Billion in 2022. During the 2022-2032 period of assessment, demand is expected to rise at a 5.3% value CAGR, likely to reach US$ 3.0 Billion by the end of the said forecast period.

Data Collection and Labelling Market - The data collection and labelling market has garnered a market value of US$ 1848.06 Mn in 2022, anticipated to register a positive CAGR of 18% in the forecast period 2022-2032 and reach a value of US$ 9,670 Mn.

Data Center Containment Solution Market - The global data center containment solution market will reach a valuation of US$ 626.4 million in 2022 and is expected to progress at a CAGR of 15.6% to reach US$ 2,665.9 million by the end of 2032. Adoption of mega data center solution software accounted for more than 25% share of the global containment solution market at the end of 2022.

Blog