The global data catalog market size is expected to grow from USD 0.7 billion in 2022 to USD 1.8 billion in 2027, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period.
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Based on component, the solution segment is projected to hold the largest market size during the forecast period
Data catalog solutions play a vital role in many successful and large organizations, as many companies need to locate appropriate data for analysis. While accessing the data from various data sources, companies fall prey to heavy penalties because of non-compliance or exploitation of confidential information of customers or their clients through data breaching or by not adhering to compliance norms. Implementation of data catalog solutions would help organizations easily discover, tag, curate, and prepare data sources, thereby saving cost and time and providing a great value proposition for organizations and their clients in the long run. Data catalog solutions are increasingly being adopted by organizations to efficiently manage the growing volume of data to enhance productivity and maintain business continuity. The proliferation of data has led vendors, such as IBM, Microsoft, Oracle, and Informatica, to develop and design catalog solutions.
Based on deployment, the On-premises segment is projected to hold the largest market size during the forecast period
On-premises deployment of data catalog solutions enables organizations with significant improvements for data validation, standardization, and robust matching, as the deployment is done locally and with complete monitoring. By using on-premises data catalog solutions, different users can have access to the required data sets stored at multiple locations inside the organization and integrate them to facilitate the business processes, as per their requirements, through a centralized interface. Leading vendors, such as Informatica and Microsoft, offer on-premises solutions.
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Major data catalog vendors include IBM (US), Microsoft (US), TIBCO Software (US), Collibra (Belgium), Alation (US), Oracle (US), Google (US), Informatica (US), Alteryx (US), Zaloni (US), Cloudera (US), Talend (US), Ataccama (Canada), Quest software (Acquired Erwin), Tamr (US), Denodo (US), Tableau (US), AWS (US), Cambridge Semantics (US), Octopai (Israel), Alex Solutions (Australia), Immuta (US), Data.World (US), Solidatus (UK), Atlan (Singapore), Stemma (US), Castor (US), and Zeenea (France). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2018 to 2022, which helped companies innovate their offerings and broaden their customer base.
IBM is a multinational technology and consulting corporation that offers infrastructure, hosting, and consulting services. The company operates in five major business segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing. IBM’s product portfolio comprises various segments, including IoT, analytics, security, mobile, social, and Watson. IBM is one of the top vendors in the data catalog market, owing to the strong portfolio of solutions and services that the company offers in the market. The IBM Cloud has emerged as a platform of choice for all business applications, as it is AI-compatible and safe to use. It is a unifying platform that integrates the capabilities of IBM in a single architecture and spans public and private clouds.
TIBCO Software is a US-based multinational company founded in 1997 and headquartered in California. The company has a global workforce count of more than 5,000 employees. IBCO Software has strengthened its position as a BI and analytics solution provider since its establishment. The company mainly provides analytics, API management, and data integration solutions, the adoption of which is increasing quickly due to the continuous generation of data by IoT devices, machine learning-enabled data management solutions, and sensors. The company has segmented its products into two broad categories: Interconnect Everything and Augment Intelligence. Interconnect Everything includes data and systems, people and processes, and APIs. The company enhances digital business for its clients through its TIBCO Connected Intelligence Cloud platform, which connects any application or data source; unifies data for greater access, trust, and control; and predicts outcomes in real-time and at scale. It captures data in real-time and augments the intelligence of businesses through analytical insights, ranging from APIs and systems to devices and people.
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