rising demand for self-service analytics is driving the Data Catalog Market
Technavio analyzes that the Data Catalog Market is expected to grow at a CAGR of 20.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.38 billion.There are various factors that contribute to the growth of the market. The data catalog market is experiencing significant growth due to the increasing demand for self-service analytics. Businesses are seeking to empower their teams with easy access to data, enabling them to make informed decisions quickly. Self-service analytics tools allow users to explore, prepare, and analyze data on their own, leading to increased productivity and agility. This trend is driving the adoption of data catalog solutions that provide a centralized repository for metadata management and discovery.
In today's business environment, data catalog solutions are essential for managing and optimizing data utilization in complex data ecosystems. These solutions facilitate data discovery, governance, collaboration, and overall data lifecycle management. By enabling users to search and access relevant datasets for analytical and reporting purposes, data catalogs reduce time spent searching for data, encourage reuse, and ensure the appropriate datasets are utilized. Centralized metadata storage provides comprehensive information about datasets, including source, schema, data quality, and lineage, enhancing data asset understanding, enabling effective data governance, and ensuring context for data utilization in enterprise applications, business intelligence, IT telecom, and Hadoop environments. Data catalog solutions are crucial for data-driven organizations seeking to maximize the value of their data assets.
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Data Catalog Market Segmentation
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A data catalog is a crucial component of modern data management, providing metadata management for various data sources such as cloud object storage, data lakes, data warehouses, NoSQL databases, and more. It caters to diverse industries like healthcare and e-commerce, offering compact solutions from vendors like Informatica. Technical and business metadata are managed, along with on-premises and cloud deployment options. Enterprise applications, business intelligence (BI), Hadoop, IT telecom, and sectors like healthcare, retail and eCommerce rely on data catalogs for data governance. Unstructured data, email correspondences, account information, and data security are also addressed, mitigating privacy risks.
The data catalog market is a segment of the expansive global application software market, which falls under the larger umbrella of the IT software industry. This market encompasses businesses specializing in the development and production of software solutions for managing metadata, facilitating data discovery, and enabling data access across various data sources, including cloud object storage, data lakes, data warehouses, and NoSQL databases. The IT software market comprises companies engaged in the creation and distribution of applications and system software, encompassing both enterprise and technical software, as well as cloud-based solutions. Metadata management, a crucial aspect of data cataloging, plays a pivotal role in optimizing data utilization and ensuring data security and compliance within organizations. Technavio's market analysis positions the data catalog market as a vital component of the global application software landscape.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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