The global data catalog market size was valued at USD 495.66 million in 2021. It is projected to reach USD 3,217.41 million by 2030, growing at a CAGR of 23.4% during the forecast period (2022-2030).
Analysts and other data consumers can discover the data they require by using a data catalog, which is a collection of metadata paired with data management and search capabilities. It serves as a list of the data that are readily available and is meant for use. It also helps evaluate fitness stats by providing information. This helps manage data, conduct searches, find products, and report information, but it all depends on the capacity to gather metadata. Data catalogs have replaced other methods of managing metadata in the age of big data and self-service analytics. The data catalog first focuses on the records, connecting them to a wealth of knowledge to instruct individuals interacting with the data.
|Market Size||USD 3,217.41 million by 2030|
|Fastest Growing Market||Europe|
|Largest Market||North America|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Surging Appropriation of Self-service Analytics
Data security has grown in importance as data catalogs make it simple and accurate to retrieve data. Customers are consequently more careful of the security offered by data catalog software, making self-service analytics safer. This results in the introduction of new products to the market and the integration of numerous products. Throughout the projected period, the tendency is anticipated to persist, increasing vendor competitiveness. Additionally, the intensified data in the new-age company environment and the expanding self-analytic data advancement are critical variables that present appealing prospects for expanding data catalog solution providers to introduce new and highly helpful. Also, self-service businesses are increasingly utilizing the cloud since it gives users a centralized view of their data and performs better at a cheaper cost.
Accelerated Data Proliferation
A data catalog makes managing data more straightforward and satisfies many requests. Oracle has taken the initiative to assist everyone in discovering and using data in the manner they have always desired with the Oracle Cloud Infrastructure Data Catalog. Healthcare is one industry that consistently invests in IT infrastructures and produces enormous amounts of healthcare data at an incredible rate. Therefore, these businesses require a data catalog to manage, monitor efficiently, and analyze the vast volume of data produced. As a result, market participants are launching industry-specific offers to meet consumers' unique needs, provide the most satisfactory services, and increase their market share. Similarly, Cisco is empowering its staff and business partners by fusing data democratization with an active approach to data governance to guarantee that quality, compliance, process, and stewardship requirements are upheld throughout Cisco's data assets.
Lack of Standardization and Security Concerns
Unstructured data issues are a problem for businesses, which makes it challenging to adopt catalog solutions. Data scientists must manage the complexity of fuzzy data sets from numerous sources in order to acquire enterprise data for modeling or to deliver insights for their analytics teams, which is a challenging undertaking. Given the exponential growth of data, this situation cannot be sustained over the long term. Additionally, many businesses that invest in preserving legacy data or data warehouses end up with silos of fuzzy data sets from numerous diverse sources and repositories of underutilized data for extended periods. Such datasets frequently provide challenges for the implementation of data catalogs.
Growing Use of Data Catalogs to Improve Employee Productivity and Quality of Life
Enterprises must build up their systems and procedures so that data citizens can easily obtain the needed data to fulfill the aim of being data-driven. However, a research by IBM found that only 30% of the time is spent by organizations using the data they collect. Data catalogs give everyone access to a single source of information, eliminating the need for repetitive chores and labor done in isolation. They assist the user in quickly obtaining all the context they need by providing thorough business glossaries and descriptions, auto-generated data profiles, quality reports, and capabilities like chats, in-line annotations, dialogues, and data sharing with a link.
The global data catalog market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America Dominates the Global Market
North America is the most significant global data catalog market shareholder and is expected to grow at a CAGR of 23.10% during the forecast period. Given the emphasis on innovations in the US and Canada, North America is considered the region that generates the most significant revenue. The data catalog markets in these countries are the most dynamic and competitive in the world. North America is considered one of the top prospective areas for growth due to the faster rate of infrastructure development and the vast expansion of data from all industry verticals. Furthermore, due to the widespread adoption of digital technology and the increasing demand for business intelligence tools worldwide, North America is the most competitive region in terms of dominating the global data catalog market. Growth in this area is attributed to the traditional businesses' accelerated expansion, the vast data production from all industries, and the adoption of self-service analytics. The market for data catalogs is expanding due to the presence of significant solution providers in North America. Collibra NV, Alation Inc., TIBCO Software Inc., Informatica Inc., IBM Corporation, Alteryx Inc., Hitachi Vantara LLC, Amazon Web Services Inc., Microsoft Corporation, and Datawatch Corporation are a few of the prominent competitors in the area.
Europe is expected to grow at a CAGR of 23.40%, generating USD 1,137.89 million during the forecast period. Europe is a prominent driver and adopter of contemporary technology and is home to some of the most significant tech hubs in the world. Market players with headquarters in the area include Capgemini and SAP SE, among others. The development and success of the European economy and society depend on realizing digital technologies' benefits. However, the multi-modal adoption of more recent technologies like big data and data analytics, cloud computing, and the Internet of Things indicates a considerable adoption level. The European Data Incubator (EDI) provides specific acceleration programs and EUR 5 million in funding for entrepreneurs and teams headquartered in the EU. EDI focuses on Big Data innovators and entrepreneurs from across Europe to develop independent data solutions using available datasets and data catalogs or to address real industry challenges provided by EU corporates and data providers across a wide range of sectors, including Smart Cities, Energy and Environment, Internet and Media, Industry 4.0, and Retail.
Asia-Pacific has seen a sharp rise in the use of data analytics in recent years. The region's need for data catalogs is being driven by the region's growing usage of IoT, cloud, and smart technologies. Digital transformation is intimately linked to agility and creativity in China's unique and rapidly changing ecosystem. Businesses in China are becoming more aggressive, embracing digital transformation to stand out, generate income, improve customer experiences, and attract new clients. In addition, Chinese businesses strongly emphasize digital transformation in contemporary marketing and customer service. Businesses in the region with more significant economies at scale, like banking, telecommunication, and retail, have been compelled to engage in data-organizing platforms like data catalogs due to the considerable development of data and analytical complexity. Big data is expanding rapidly throughout the APAC area due to rising internet usage, mobile and smartphone adoption rates, urbanization trends, machine learning, algorithm development, and consumer and behavioral analytics demand. Data catalogs are required in the area due to the rise in data transactions in various sectors.
Rural areas and underdeveloped nations in Latin America severely lack digital infrastructure. A significant portion of the populace is not included in the internet era. In a similar vein, one-third of Americans lack an internet connection. The nation can use digital channels for development even though the pandemic has produced a significant paradigm shift. Following the pandemic, the fintech industry is expanding quickly in many nations. In the region, organizations, including the Latin America Open Data Initiative, the Inter-American Development Bank, and ABRELATAM, aim to grow open data programs that lessen violence against women, reduce corruption, and enhance the delivery of health services.
The global data catalog market is segmented by component, deployment, and end-user industry.
Based on components, the global market is bifurcated into solutions and services.
The solutions segment is the highest contributor to the market and is expected to grow at a CAGR of 22.9% during the forecast period. It is anticipated that the solutions category will have a sizable market size in the data catalog environment over the forecast period. Improved data quality, increased individual productivity, eliminating data silos and duplication, and more accessible data discovery are all benefits of the combined solution. The two main elements that present enticing potential for the expansion of data catalog solution components are the advancement of self-analytic data and the intensification of data in the new era of business. Data catalog solutions are used by various industry verticals, including Banking, Financial Services, Insurance (BFSI), Healthcare, Retail, and E-Commerce, to access and analyze vast volumes of data, develop business plans, and make crucial business choices. One of the well-known products on the market is the inferencing engine for data interpretation, classification, and regulation called the IBM Watson Knowledge Catalog.
The end-users occasionally need more direction from their team of professionals to effectively meet the complex needs of data catalog deployment. To support the deployment activities, the team provides these complete services on an as-needed basis at an additional cost. This resulted in numerous businesses offering primary data catalog services. Enterprise Data Catalog JumpStart offerings are provided by companies like Informatica and involve professional architecture advice, installation, and configuration in a single environment with actual data from three catalog sources. To ensure that consumers get the most out of their investments in Intelligent Data Engineering, the company has created free services and supplementary offers that users can purchase for a price. These can be carried out directly or in collaboration with other qualified partners, all to generate quantifiable business value from the investments. Numerous businesses are including data catalog services in their cloud architecture.
Based on deployment, the global market is bifurcated into on-premise and cloud.
The cloud segment owns the highest market share and is expected to grow at a CAGR of 24.4% during the forecast period. As a first step toward becoming data-oriented, many businesses have made significant technological investments. Data catalogs maintain an optimal search index for data assets, including datasets, tables, views, text/CSV files, spreadsheets, data streams, etc., belonging to multiple projects inside a corporation. Data Catalog uses the assets' name, description, and column definitions to generate its index. As a result, maintaining a structured inventory of the business's data assets aids in the collection, categorization, access, and enrichment of metadata by data professionals to enable data discovery and governance.
The inclusive character of the cloud-based data catalog makes it possible to use it for collaboration and centralized information sharing in a known location that is also available to the entire business. Many cloud platform suppliers recognize the necessity of this data and metadata centralization and provide their implementations. This can make it easier to create unique designs and facilitate the movement of organizational data to the public cloud.
For a company, the data required to make educated decisions is available both on-premises and on the cloud. As a result, it is crucial to consider data from hard drives, the cloud, and even personal laptops when cataloging data. Users can gather metadata from various on-premises ecosystem data sources to compile a list of data assets, making it simple for data consumers to locate the information they require for analytics. For example, the Oracle Cloud Infrastructure Data Catalog collects metadata from systems that are both on-premises and connected to private networks. Access to data, whether structured or semi-structured, stored in the Oracle Cloud Infrastructure ecosystem or on-premises, over a private or public network, was thereby improved. Thus, it enables data consumers to work with a more extensive data collection and improve their businesses through data usage. On-site data catalogs are useful for data analytics when they are trustworthy and supported by approachable, knowledgeable employees. However, the required skill sets and IT bottlenecks may present challenges. Due to its high level of data security and use in mission-critical applications like healthcare, BFSI, and the military.
Based on the end-user industry, the global market is bifurcated into BFSI, retail and e-commerce, healthcare, manufacturing, and other end-user industries.
The BFSI segment is the highest contributor to the market and is expected to grow at a CAGR of 25.2% during the forecast period. The banking business is currently subject to regulations imposed by the government as well as extensive data collection. As technology develops, more consumers initiate transactions through more devices (such as smartphones), driving up the volume of transactions. This encourages using a data catalog, which gives data analysts a central location to examine and quickly locate all data assets. This comprehensive view will allow team members to share ideas that might improve the banking sector. The rapid data expansion caused by adopting digital technology in the BFSI sector presents new management and compliance concerns. To succeed in the upcoming years, established financial services companies like banks, insurers, and asset managers must simultaneously embrace digital transformation and data privacy.
E-commerce companies frequently employ data catalog solutions so that data may be organized in a certain way and the best conclusion can be drawn for business requirements. The e-commerce industry comprises suppliers, prices, product names, descriptions, and other relevant information. Product data for the retail environment is managed across various sales channels, including several brand websites or marketplaces like Amazon and eBay. For the sake of listing, each of these channels demands a unique approach to the product data. The retail industry provides several opportunities for expansion for several types of retail providers, including small- to medium-sized franchise unit owners, big-box store operators, and individual direct sellers or direct marketers. The retail industry is prepared to generate a massive amount of data due to this growth potential, which will increase the need for a thorough inventory of all data assets that could include the data needed for operations or analysis.