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Data Governance is Fastest Growing Segment Fueling the Growth of Data Governance Market

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naufan
Data Governance is Fastest Growing Segment Fueling the Growth of Data Governance Market

Market Overview:

Data governance involves ensuring that important data assets are formally managed throughout their lifecycle to ensure security, usability, integrity and quality. It helps organization tame Big Data complexities and derive maximum business value from data assets. With increasing regulatory compliance, demand for data governance solutions are growing rapidly.

The data governance market is estimated to be valued at US$ 2.5 Mn or Bn in 2023 and is expected to exhibit a CAGR of 21.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key driver of data governance market growth is increasing volume and variety of organizational data due to rising number of connected devices. Many organizations are struggling to manage the vast amount of disparate data. This has increased demand for data governance solution to manage data efficiently throughout its lifecycle. The solutions assists in classifying, tagging, and organizing data for effective decision making. Additionally, rising concerns over cyber threats and data breaches have enforced stringent data privacy regulations like GDPR. This is further propelling the demand for robust data governance solutions to ensure regulatory compliance and security of sensitive customer data.

Segment Analysis

The data governance market is segmented based on component, deployment mode, organization size, vertical and region. Based on component, the market is segmented into solutions and services. The solutions segment is expected to dominate the market during the forecast period. This is owing to the growing demand for data quality, data governance, data security and data integration solutions among organizations across various industries to gain actionable insights and meet regulatory compliances.

Key Takeaways

The Global Data Governance Market Size is expected to witness high growth, exhibiting a CAGR of 21.2% over the forecast period, due to increasing demand for centralized data management and data transparency to enhance business efficiency and gain competitive advantage.

Regional analysis: North America is expected to dominate the data governance market during the forecast period. This is attributed to stringent and well-defined data privacy regulations and compliances in this region. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing rapid digitalization and adoption of cloud-based services across various industry verticals in emerging economies such as China and India.

Key players: Key players operating in the data governance market are Collibra NV, SAP SE, SAS Institute Inc., Symantec Corporation (Norton Lifelock), TIBCO Software Inc., Informatica Inc., Alation Inc., IBM Corporation, Varonis Systems Inc., Alfresco Software Inc., Oracle Corporation, Talend SA and Microsoft Corporation. The data governance market is highly competitive with major players focusing on strategic partnerships, mergers & acquisitions and new product launches to gain competitive advantage. For instance, in 2020, Collibra acquired Anthropic to accelerate its leadership in machine learning and data governance.


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harishtbrc 2023-09-26
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The Data Governance Global Market Report 2023, provides comprehensive information on the data governance market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. Learn More On The Data Governance Market’s Growth:https://www. The market size of the data governance is expected to grow to $8. The table of contents in TBRC’s data governance market report includes:1. Contact Us: The Business Research Company Europe: +44 207 1930 708Asia: +91 8897263534Americas: +1 315 623 0293Email: info@tbrc.
Data Governance Software Market Size, Share, Growth, Opportunities and Global Forecast to 2028
Anjali Aahuja 2022-06-15
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Get more information on "Global Data Governance Software Market Research Report" by requesting FREE Sample Copy at https://www. Moreover, enterprise wants to ensure good data quality and lineage throughout a company's data life cycle, boosting data governance software adoption. Furthermore, the key driver of the data governance market's growth is the growing regulatory compliance and privacy concern markets for data security. By Deployment Type·       Cloud Based·       On-PremisesBy Application·       Incident Management·       Process Management·       Compliance Management·       Risk Management·       Audit Management·       Data Quality And Security Management·       OthersBy Organization Size·       Large Enterprises·       SMEsRegional AnalysisThis section covers the regional outlook, which accentuates current and future demand for the Data Governance Software market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Purchase Complete Global Data Governance Software Market Research Report at https://www.
Are Your Data Governance Initiatives Failing? You must read this
Thinkartha 2023-01-23
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Inactive stakeholders and a limited budgetThe absence of managerial support is another factor in the failure of many data governance initiatives. It is pretty typical for IT to be in charge of the data governance programme when I conduct a health check on data governance for businesses that are having problems. Due to a misconception that exists between the infrastructure and the data, businesses frequently delegate data governance to IT. An IT-led data governance programme makes it more challenging for the company to take ownership of its data, which is a prerequisite for true data governance to take place. Effective collaboration between the teams in charge of data governance and security is essential.
Data Governance Market 2020 – 2022: COVID – 19 Outbreak, Global Profit Analysis, Industry Segments, Top Key Players, Drivers and Business Trends
Shweta Raj 2021-01-25
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Global Data Governance Market, By Components (Solution, Services), By Function (IT & Operation, Legal, Finance), By Deployment (On-Premise, Cloud), By Users (IT & Telecom, Healthcare, Retail, Financial Services) - Forecast 2022Market SynopsisAs per the analysis by the Market Research Future Reports (MRFR), the global data governance market is estimated to value USD 2 Billion, with a CAGR of 18% during the forecast period from 2016 to 2022.

The situation has led the companies to restructure their strategies.The demand for data governance is experiencing a robust expansion due to the requirement of managed service in every technological domain.

The increasing demand to assure high data quality derivations throughout the data life cycle of an organization has also played an essential role in expanding the global data governance market 2020.

However, the concern with respect to the quality is a major obstructing factor of the data governance market.

& Telecom, financial services, and others.On the basis of components, the global data governance market can be segregated into services and solutions.On the basis of deployment, the global data governance market can be segregated into on-cloud and on-premise.On the basis of region, the global data governance market can be segregated into Asia-Pacific, Europe, North America, and the Rest of the World (Row).Regional AnalysisOn the basis of geography, the APAC, Europe, North America, and the RoW has been has been studied.

As per the analysis, North America holds the largest market share and dominates the data governance market during the forecast period.

An Organization's Data Is Protected By A Variety Of Policies And Standards As Part Of Its Data Governance
Pooja salve 2023-04-07
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Executive leadership, project management, line-of-business managers, and data stewards are common members of this team. The team typically employs some sort of corporate data tracking and improvement technique, such as Six Sigma, as well as tools for data mapping, profiling, cleansing, and monitoring. Many data governance projects are also influenced by previous attempts to improve information quality at the departmental level, which resulted in incongruent and redundant data quality processes. When they do gain access to the data, the quality of the data may be subpar. These issues can be minimised by establishing a data governance process or corporate data authority (person or area responsible for determining how to continue in the best interests of the business when a data issue emerges).
Implementing Successful Data Governance: Best Practices
harries jackson 2023-07-13
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Here are some best practices to ensure success:Define Clear Objectives: Start by clearly defining the goals and objectives of your data governance initiative. Establish Data Governance Framework: Develop a comprehensive framework that includes data policies, standards, and guidelines. Identify Data Stewards: Assign data stewards who will be responsible for overseeing data governance activities. Educate and Train: Invest in data literacy programs to educate employees about Data Governance principles and practices. Here's how data governance contributes to data quality management: 
Master Data Governance
Spencer Hastings 2024-03-08
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It also involves other concepts such as Data Architecture, Data Integration, Data Quality, and others to help organizations get greater control of their data resources, including processes, technologies, and rules relating to effective data management. Many factors prevent enforced data governance policies, including:► Lack of automated management► Unawareness regarding the significance of stored data, and who should have access to certain types of data► The lack of time to manage data governance tasks► And many other factorsFortunately, pioneering tech companies have created strategies to overcome the above-mentioned data governance challenges. Like any governance model, Master Data Governance starts with policies, guidelines, business rules and a governance approach covering all the individuals, processes and technology involved. Although data management processes handle the actual production and ongoing preservation of master data, the methodology directs the best data governance practices of the industry, such as compliance with ISO 8000. PiLog Master Data Governance FrameworkData Governance CommitteeData Stewardship•Data Policies and Standards•Data Quality Management•Data Security•Data Privacy Compliance•Data Documentation•Continuous ImprovementOur Master Data Governance Models•Data Architecture•Data Modeling and Design•Data storage and operations•Data security•Data integration and interoperability•Documents and content•Reference and master data•Data warehousing and business intelligence (BI)•Data qualityAre you looking for an reliable Master Data Governance service provider?