Latest News- Data Catalog Market: Solutions is expected to lead the Component segment during 2024-2028

The Data Catalog Market is being driven by Rising demand for self-service analytics

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. In a data mesh architecture, decentralized data ownership is implemented, allowing individual business units or domains to manage the data they generate. Data catalogs play a pivotal role in this decentralized environment by offering visibility into dispersed data assets, enabling teams to locate and comprehend accessible datasets. Data mesh advocates for domain-specific data platforms, with each domain overseeing its data products. Data catalogs facilitate the organization and discovery of these domain-specific data assets, adhering to the data mesh principles of well-defined interfaces and quality standards. By providing metadata, documentation, and quality metrics for each data product, data catalogs support users in evaluating and consuming data as valuable commodities. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for self-service analytics
• Increasing volume and complexity of data
• Integration of data catalog with advanced analytics tools and machine learning

However, the market also witnesses some limitations, which are as follows:

• Concerns associated with maintaining catalog accuracy over time
• Complexity of integrating data catalog with diverse data sources
• Scalability issues of data catalog

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Market Scope in Data Catalog Market Research Report

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Research Analysis Overview

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.

Market Research Overview

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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