PUBLISHER: The Business Research Company | PRODUCT CODE: 1484967
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484967
A data catalog serves as a centralized repository of data assets within an organization, leveraging metadata to compile a comprehensive and searchable database of available data resources. It aids data professionals in swiftly locating relevant data for analytical or business purposes, thereby facilitating efficient data discovery, comprehension, and utilization.
The primary components of a data catalog encompass solutions and services. Solutions typically offer functionalities such as data discovery, metadata management, data governance, and collaboration tools, empowering businesses to optimize their data usage and decision-making processes. These solutions can be deployed either via the cloud or on-premises and cater to various end-users including those in banking, financial services, insurance, retail and e-commerce, healthcare, manufacturing, among others.
The data catalog market research report is one of a series of new reports from The Business Research Company that provides data catalog market statistics, including data catalog industry global market size, regional shares, competitors with a data catalog market share, detailed data catalog market segments, market trends, and opportunities, and any further data you may need to thrive in the data catalog industry. This data catalog market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The data catalog market size has grown strongly in recent years. It will grow from $0.89 billion in 2023 to $1.10 billion in 2024 at a compound annual growth rate (CAGR) of 24.6%. The growth observed in the historical period can be attributed to several factors. These include the emergence of big data, regulatory compliance requirements, challenges associated with data silos and fragmentation, the transition to cloud computing, and increasing demand for self-service analytics capabilities.
The data catalog market size is expected to see strong growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. Anticipated growth in the forecast period can be attributed to several key factors. These include advancements in AI-driven metadata management, enhancements in data governance and privacy measures, the adoption of hybrid and multi-cloud data management solutions, and the implementation of advanced data discovery and exploration techniques. Significant trends expected in the forecast period encompass the emergence of data catalogs as a service (DCaaS), the integration of embedded data catalogs within analytics platforms, the inclusion of enhanced data collaboration features, the utilization of data catalogs for integration with DataOps and DevOps practices, and the augmentation of data catalogs with natural language processing (NLP) capabilities.
The surge in cybersecurity threats is poised to drive the growth of the data catalog market in the foreseeable future. Cybersecurity threats encompass potential risks arising from vulnerabilities in computer systems, networks, and digital infrastructure. Factors contributing to the escalation of cybersecurity threats include the proliferation of IoT devices with limited security features, emergence of new attack vectors, and inadequacy of robust cybersecurity measures such as firewalls, antivirus software, intrusion detection systems, encryption, and access controls. Data catalogs play a crucial role in supporting compliance efforts with data protection regulations such as GDPR, CCPA, HIPAA, and PCI DSS by providing visibility into data usage, storage, and access patterns. Organizations leverage data catalogs to demonstrate compliance with regulatory requirements, implement data retention policies, and monitor data access for audit purposes. For example, as per a report published by the FBI's Internet Crime Complaint Center (IC3) in March 2023, the IC3 received a total of 847,376 complaints in 2021, indicating an increase from the previous year's 791,790 complaints in 2020. The total data loss escalated from $6.9 billion in 2021 to more than $10.2 billion in 2022. Consequently, the rising cybersecurity threats act as a catalyst for the growth of the data catalog market.
Key players in the data catalog market are actively focusing on developing new technologies, including a new data management service with machine learning capabilities, to gain a competitive edge. This innovative data management service integrates machine learning capabilities, enabling organizations to efficiently govern, catalog, share, and analyze their data. For instance, in November 2022, Amazon Web Services introduced Amazon DataZone, a new ML-based data management service. It allows data producers to populate a business data catalog with structured data assets from services such as AWS Glue Data Catalog and Amazon Redshift, while data consumers can search, subscribe to, and analyze these data assets. This service aims to streamline data management processes, enhance data discoverability, and facilitate efficient collaboration among teams for better insights and decision-making based on data analysis.
In October 2021, Alation Inc., a US-based data catalog company, completed the acquisition of Lyngo Analytics for an undisclosed sum. This strategic acquisition by Alation Inc. aims to enhance the business user experience within the data catalog, scale data intelligence, and foster data culture by integrating Lyngo Analytics' artificial intelligence and machine learning technology into Alation's platform. Lyngo Analytics specializes in data catalogs and analytics, further enriching Alation's capabilities and strengthening its position in the data catalog market.
Major companies operating in the data catalog market are Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Hitachi Vantara Corporation, Tableau Software LLC, Informatica LLC, TIBCO Software Inc., Alterynx Inc., Unifi Software Inc., QlikTech International AB, Altair Engineering Inc., Boomi Inc., Precisely Inc., Talend Inc., Alation Inc., Datawatch Corporation, Tamr Inc., BigID Inc., Zaloni Inc., Atlan Pte. Ltd., Collibra Inc., Okera Inc., Apache Software Foundation, Waterline Data Inc.
North America was the largest region in the data catalog market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data catalog market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the data catalog market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The data catalog market consists of revenues earned by entities by providing services such as data profiling, collaboration, social tagging, data access control, and security and metadata management services. The market value includes the value of related goods sold by the service provider or included within the service offering. The data catalog market also includes sales of data lineage tracking, integration and connectivity, data access control tools, data classification, and tagging tools. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.