Data Governance Industry

The global data governance market size is projected to reach USD 12.66 billion by 2030, according to a recent report published by Grand View Research, Inc. The market is expected to register a robust compound annual growth rate (CAGR) of 21.7% during the forecast period from 2024 to 2030. The increasing volume of data generated by organizations from various channels—including business transactions, customer engagements, and core operational activities—is creating significant challenges related to data consistency, accessibility, and quality. In particular, the exponential growth in unstructured data formats, such as emails, social media content, documents, and multimedia, is intensifying the need for comprehensive data governance frameworks. As a result, organizations are increasingly investing in data governance solutions and services to effectively manage, standardize, and secure their data assets.

The outbreak of the COVID-19 pandemic had a notably positive influence on the data governance sector. During the pandemic, businesses across the globe realized the importance of implementing resilient data governance practices. As organizations rapidly transitioned to remote work environments, there was a significant surge in digital operations and online interactions. This shift underscored the critical role of data in supporting remote business continuity, decision-making, and compliance requirements. The heightened dependence on digital infrastructure and data analytics during the crisis emphasized the need for structured data governance frameworks to ensure data quality, integrity, security, and regulatory compliance. Consequently, the pandemic acted as a catalyst for increased investments in data governance technologies and platforms.

One of the prevailing trends in the data governance market is the accelerated adoption of cloud-based data governance solutions. Organizations are steadily migrating their data systems and infrastructures to cloud environments to capitalize on benefits such as enhanced scalability, operational agility, and cost-efficiency. This transition is fueling demand for cloud-native data governance tools that are designed to work seamlessly within public, private, and hybrid cloud ecosystems. These platforms offer centralized control over data assets, real-time governance capabilities, and support for maintaining data compliance and security standards across diverse and distributed environments, including multi-cloud deployments.

Furthermore, there is a growing emphasis on positioning data governance as a core strategic business function rather than just an IT-led initiative. Enterprises are increasingly acknowledging that effective data governance plays a vital role in driving positive business outcomes. It enables better data-driven decision-making, enhances organizational transparency, and facilitates innovation through improved data sharing and collaboration. As a result, data governance is being integrated more deeply into wider business initiatives and transformation programs. This includes areas such as digital transformation efforts, enhanced customer experience strategies, risk management, and product development processes. By embedding data governance into these business-critical operations, companies aim to create a more holistic and sustainable approach to managing and leveraging data.

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Data Governance Market Segments Highlights:

• Based on component, the solution segment accounted for the highest revenue share of 55.1% in 2023 and is expected to retain its position over the forecast period. The growing emphasis on data privacy, security, and ethical data practices drives the adoption of data governance solutions.
• Based on deployment, the on-premises segment dominated the market in 2023 and is expected to grow at a significant CAGR over the forecast period. On-premise data governance solutions offer greater control over sensitive data by allowing organizations to maintain data within their infrastructure, mitigating concerns about data residency, compliance with regulatory requirements, and data security breaches.
• Based on application, the risk management segment accounted for the largest revenue share in 2023. Risk management applications enable organizations to establish risk assessment frameworks, define risk tolerance levels, and implement controls and monitoring mechanisms to mitigate risks associated with data-sharing activities, allowing them to promote trust, transparency, and collaboration in data ecosystems.
• Based on vertical, the BFSI segment accounted for the largest revenue share in 2023. Data governance solutions assist BFSI organizations in ensuring compliance with the regulations by establishing policies, procedures, and controls to govern the collection, processing, and sharing of sensitive financial and customer data, thereby mitigating the risk of regulatory penalties and reputational damage.
• In September 2023, Buchanan & Edwards Inc. launched web-based public sector data governance training to transform how government professionals approach and manage data. The program is designed to provide public sector professionals with the fundamental knowledge and skills required for proficient data management and protection within their organizations.

Data Governance Market Report Segmentation

Grand View Research has segmented the global data governance market based on component, deployment, application, vertical, and region:

Data Governance Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solution
• Services

Data Governance Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-premises
• Cloud

Data Governance Application Outlook (Revenue, USD Million, 2018 - 2030)

• Compliance Management
• Risk Management
• Audit Management
• Incident Management
• Others

Data Governance Vertical Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI
• Retail & Consumer
• Government
• Healthcare
• Manufacturing
• Telecom and IT
• Transportation & Logistics
• Others

Data Governance Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa

Key Data Governance Company Insights

• Oracle
• SAP
• IBM
• SAS
• Informtica
• Talend
• Magnitude Software
• Infogix
• Zaloni
• Alex Solutions

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