Key Market Players in the Data Governance Market and Its Opportunities for growth

Posted on 2019-10-30 by MarketsandMarkets in Technology // 0 Comments

The global Data Governance Market size is expected to grow from USD 1.31 Billion in 2018 to USD 3.53 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.0 % during the forecast period, as per a report by MarketsandMarkets.

Due to the rapidly increasing growth in data volumes, rising regulatory and compliance mandates, and enhancing strategic risk management and decision-making with the increasing business collaborations are expected to drive the growth of the Data Governance Market.

Why effective Data Governance would provide an opportunity for market growth?

Organizational data is spread across a variety of systems and is prone to duplication, generating problems in creating a complete, up-to-date view of the data. Such data poses many challenges about data accessibility, data authenticity, and data convergence. Organizations implement custom-built rules, policies, and standards to increase data access and data convergence by incorporating data governance into it. Moreover, different organizations have different perspectives to drive their businesses with regards to the diversity of the clients they serve. Solutions, such as data quality, MDM, and data security, help improve working functionalities, sustainability, and performance. Such tools help gain an up-to-date unified view of the product, customer, and supplier data to manage clients and their demands. The dedicated data governance solutions and services facilitate organizations to make client-centered decisions and gain an edge over their competitors.

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Key Market Players for Data Governance Market

The major global vendors of Data Governance solutions and services include Alation (US), Ataccama (Canada), Collibra (Belgium), DATUM LLC (US), Data Advantage Group (US), Denodo Technologies (US), erwin, Inc. (US), Global Data Excellence (Switzerland), Global IDs (US), IBM Corporation (US), Infogix (US), Informatica LLC (US), Information Builders (US), IRI (Australia), Magnitude Software (US), Oracle Corporation (US), Orchestra Networks (France), Reltio (US), SAP SE (Germany), SAS Institute (US), Syncsort (US), Talend (US), TIBCO Software (US), TopQuadrant (US), and Varonis Systems (US).

These players have adopted multiple business strategies to extend their global presence and expand their market shares. Partnerships, agreements, and collaborations have been the key strategies adopted by these industry players to accomplish development and sustain in the competitive market. Apart from these strategies, new product launches and product up gradations, and business expansions are some of the other significant strategies embraced by these market players to grow in the Data Governance Market.

IBM adopted new product launches and product up gradations as its major development strategy to create a competitive edge in the market.

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