The data governance market size is estimated to grow from $863.2 Million in 2016 to $2,234.7 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 21.0% from 2016 to 2021.
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The key Innovators considered in Data Governance Market report are Global Data Excellence (Geneva, Switzerland) Data3Sixty, Inc., (Massachusetts, U.S.) Alation Inc. (California, U.S.) Magnitude Software, Inc., (Texas, U.S.) and Reltio, Inc. (California, U.S.) for their unique offerings and applications catering across all the major industrial verticals.
Due to the necessity to determine who owns the data, how sensitive the data is, and who should have access to it, will propel the growth of the market. The report provides detailed insights into the global market, which is segmented by component, application, deployment model, industry vertical, business function, and region.
The target audience of the data governance market report is given below:
1.Service providers and distributors
2.Data governance application builders
3.Independent Software Vendors (ISVs)
4.Analytics consulting companies
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North America holds the largest market share in 2016 and the trend is expected to continue in the coming years. The data governance market is showing strong positive trends in the region as several companies and industries are adopting data governance software at various levels, as a part of their strategy to strive in the market and increase their productivity. The APAC market is expected to witness exponential growth and is projected to be the fastest-growing region for the global data governance market. This is due to the rising need to adhere to compliance and regulations being defined by regulatory bodies and organizations.
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In component, data governance market solutions segment is expected to have the largest market share during the forecast period. In business function, Finance finds surplus applications which can benefit by adapting data governance technologies. Sales & marketing optimization application, which is applicable across all the major industry verticals, is expected to have the largest market share. Considering today’s highly competitive environment, the need to promote and manage sales and marketing activities to help companies gain recognition among consumers and is also considered as a prime parameter to increase profits.
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