iCrowdNewswire Jan 14, 2021 11:45 AM ET
Top Impacting Factors
The boom in the global data catalog market is due to features such as the rapidly changing data catalog market in the world. The rising acceptance of self-service and data propagation analytics are also some of the essential factors fuelling market growth at a rapid pace. Even the growing demand for the adoption of Bi tools has emerged to bring significant opportunities in the market during the forecast period.
The market for the data catalog is also anticipated to inflate owing to the ever-increasing volumes of data. The rising number of IoT, cloud apps and digital transformation of processes exponentially has increased the data to make it available. Therefore, the need for data catalog solutions also increased and gave a thrust to the market to expand at a faster rate. In the case of point, Informatica introduced a data catalog enabled with machine learning that automatically scans data assets across the enterprise, catalogs it, and indexes assets for enterprise-wide discovery.
A few of the other driving factors for the global data catalog market are mounting demand for rising automation technology and real-time availability of data, business intelligence tools, reduced cost of infrastructure, and gaining business insights. In fact, the ever-increasing number of cloud apps, the digital transformation of processes, is surging the amount of data available exponentially, thus propelling the need for the data catalog solution.
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From the viewpoint of the regional aspect, the global data catalog market is studied for the main regions of Europe, Asia Pacific, North America, and the rest of the world. North America region will be seen as leading the data catalog market throughout the assessment period as several organizations are shifting towards new and upgraded technologies with the rising adoption of digital business strategies. The existence of the primary solution providers of the data catalog in North America is also motivating the growth of the data catalog market. The US and Canada are projected to implement data catalog solutions widely.
The region of Asia Pacific is also in the line of growing with the highest CAGR during the assessment period owing to mounting adoption of automation and increased demand for a visualization tool. The market in the Asia Pacific is gaining momentum also from various industries such as manufacturing, banking, healthcare, insurance, and financial services, and more.
Top Market Contenders
The top market contenders of data catalog market are listed as Informatica (US), IBM (US), Collibra (Belgium), Amazon Web Services (US), Alation (US), Waterline Data (US), TIBCO Software (US) Microsoft (US), Alteryx (US), Datawatch Corporation (US), and Tamr (US), Zaloni (US), and more. These players keep innovating and investing in research and development to present a cost-effective product portfolio. Mergers and acquisitions among various players are altering the market structure.
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