PUBLISHER: The Business Research Company | PRODUCT CODE: 1485166
PUBLISHER: The Business Research Company | PRODUCT CODE: 1485166
Metadata management tools are software solutions crafted to capture, store, organize, retrieve, and oversee metadata within an organization's data ecosystem. Metadata, in essence, furnishes descriptive details that lend context and structure to data, thereby enhancing comprehension, interpretation, and utilization. These tools streamline metadata creation, upkeep, and governance across diverse data sources, spanning databases, data warehouses, data lakes, and other repositories.
Key categories of metadata management tools encompass business metadata, technical metadata, and operational metadata. Business metadata delineates the business context, significance, and utilization of data within an organization, encompassing particulars such as data definitions, business rules, and interrelations among data elements. These tools are available through various deployment models, including cloud and on-premise solutions, and cater to a spectrum of applications, such as data governance, risk and compliance management, incident management, product and process management, among others. They cater to diverse industries, including banking, financial services, and insurance (BSFI), retail and consumer goods, government, information technology (IT) and telecommunications, healthcare and life sciences, media and entertainment, transportation and logistics, and others.
The metadata management tools market research report is one of a series of new reports from The Business Research Company that provides metadata management tools market statistics, including metadata management tools industry global market size, regional shares, competitors with a metadata management tools market share, detailed metadata management tools market segments, market trends and opportunities, and any further data you may need to thrive in the metadata management tools industry. This metadata management tools 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 metadata management tools market size has grown exponentially in recent years. It will grow from $9.04 billion in 2023 to $10.97 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth observed in the historic period can be largely attributed to several key factors, including the proliferation of data, the increasing complexity of data integration, rising demand for analytics and business intelligence (BI) solutions, the implementation of master data management (MDM) strategies, and efforts to enhance data quality across organizations.
The metadata management tools market size is expected to see exponential growth in the next few years. It will grow to $24.12 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The anticipated growth in the forecast period can be attributed to various factors, including the heightened focus on data privacy and ethics, the increasing management challenges posed by Internet of Things (IoT) data, the drive towards data democratization, the emergence of edge computing technologies, and the escalating cybersecurity threats facing organizations. Major trends expected to shape this period include the automation of data lineage processes, the enrichment of metadata through semantic techniques, the adoption of metadata fabric solutions, the integration of embedded metadata intelligence within systems, and the implementation of quantum-safe security measures to safeguard metadata assets.
The escalating prevalence of cybersecurity threats is anticipated to be a significant catalyst for the expansion of the metadata management tools market. Cybersecurity threats encompass malicious activities or risks aimed at compromising the confidentiality, integrity, or availability of computer systems, networks, and data. Factors contributing to the surge in cybersecurity threats include the accelerating pace of digitalization, the imperative for heightened cybersecurity awareness, and the scarcity of skilled professionals in the field. Metadata management tools play a pivotal role in enabling organizations to classify, label, and safeguard sensitive data by furnishing metadata-driven access controls, encryption mechanisms, and data masking functionalities. By enforcing stringent data protection and privacy compliance standards, metadata management tools empower organizations to mitigate the risks associated with data breaches and regulatory non-compliance, thereby fortifying their cybersecurity resilience. For example, the Cyber Security Centre Report revealed that Australia witnessed a 13% increase in cybercrime reports in 2022, totaling 76,000 incidents compared to the previous year. Consequently, the burgeoning cybersecurity threats serve as a key driver behind the growth trajectory of the metadata management tools market.
Key players within the metadata management tools market are directing their efforts towards the development of advanced solutions, including cloud-based metadata management frameworks, to gain a competitive advantage. Cloud-based metadata management frameworks represent comprehensive systems designed to capture the digital thread and context of R&D data, facilitating effective collaboration among teams and expediting product decision-making processes. For instance, Rescale Inc., a U.S.-based software company, unveiled Rescale metadata management frameworks in December 2023. These frameworks facilitate simulation data management initiatives by adopting a user-centric approach to data gathering and governance, thereby offering a seamless, adaptable, and automated mechanism for capturing simulation data. This enables enterprises to effectively manage their engineering knowledge and drive innovation.
In February 2023, Progress Software Corporation, a U.S.-based software enterprise, completed the acquisition of MarkLogic for $355 million. Through this acquisition, Progress Software Corporation aims to establish a unified, enterprise-grade data platform capable of extracting value from complex data sets and addressing high-value use cases, including intricate customer data challenges. MarkLogic, a U.S.-based company, offers a comprehensive solution for metadata management, aligning with Progress Software Corporation's objectives to enhance its data management capabilities and cater to diverse data management needs from a single platform.
Major companies operating in the metadata management tools market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Informatica LLC, Alteryx Inc., Progress Software Corporation, ASG Technologies Inc., Talend Inc., Collibra, Alation Inc., Cambridge Semantics, Ataccama, Global IDs Inc., erwin Inc., Alex Solutions Pty Ltd., MANTA Tools Inc., TopQuadrant Inc., CentricMinds, Adaptive Inc., Data Advantage Group Inc., Atlan Pte. Ltd.
North America was the largest region in the metadata management tools market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metadata management tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the metadata management tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The metadata management tools market consist of revenues earned by entities by providing services such as metadata discovery and harvesting, metadata storage and cataloging, metadata security, and access control. The market value includes the value of related goods sold by the service provider or included within the service offering. The metadata management tools market includes sales of metadata discovery tools, data lineage tools, data governance tools, and data modeling 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.