Global Data Catalog Market to Reach US$ 2,630 Million by 2028, Impelled by Considerable Increase in Data Generation

According to the latest report by IMARC Group, titled "Data Catalog Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global data catalog market reached a value of US$ 770.7 Million in 2022. A data catalog is an essential component of the modern data management system that is generally utilized for storing numerous data assets, such as web pages, databases, and output files. It is a collection of metadata that is widely used by multiple businesses for creating and organizing data inventory. This inventory solution aid in searching and managing large volumes of data in an efficient manner. As a result, it is a cost-efficient solution that offers operational efficiency, better customer experience and competitive advantages to various businesses. Also, it assists users in the decision-making process by searching for insightful information and understanding the data.

Global Data Catalog Market Trends: 

The global market is primarily driven by a considerable increase in data generation across numerous industries. This is supported by rapid digitization across the globe, along with the penetration of high-speed internet connectivity and the rising adoption of smartphones among the masses. Moreover, the increasing need for business intelligence tools due to the intensive business competition across the corporate sector is creating a positive outlook for the market. This has encouraged multiple businesses to heavily invest in the deployment of data catalog solutions, thereby providing an impetus to the market growth. Additionally, the widespread adoption of the work-from-home (WFH) models as a consequence of the rapid outbreak of coronavirus disease (COVID-19) across the globe is acting as a major growth-inducing factor. Furthermore, continuous improvements in the information technology (IT) and e-commerce sectors are also providing a boost to the market growth. Other factors, including various technological advancements, continual product innovations and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2,630 Million by 2028, growing at a CAGR of 21.6% during 2023-2028. 

Market Summary: 

• On the basis of the component, the market has been bifurcated into solutions and services.
• Based on the deployment mode, the market has been segmented into on-premises and cloud-based.
• On the basis of the organization size, the market has been segregated into small and medium-sized and large enterprises.
• Based on the data consumer, the market has been categorized into business intelligence tools, enterprise applications, and mobile and web applications.
• On the basis of the end-use industry, the market has been classified into BFSI, retail and e-commerce, manufacturing, government and defense, energy and utilities, IT and telecom, education, healthcare and others.
• Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players are Alation Inc., Alteryx Inc., Amazon Web Services Inc. (Amazon.com Inc.), Collibra Inc., Hitachi Ltd., Informatica, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Tamr Inc., TIBCO Software Inc. and Zaloni Inc.

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