Data Catalog Market worth 620.0 Million USD by 2022

(IT-NEWSWIRE.COM, May 15, 2020 ) The data catalog solutions deployed in the cloud or on-premises empower organizations to reduce operational costs, and offer benefits, such as ease of use, easier deployment, and higher scalability.

MarketsandMarkets expects the global data catalog market size to grow from USD 210.0 Million in 2017 to USD 620.0 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 24.2% during the forecast period. An increasing need for data catalog solutions, automation, business intelligance (BI) solutions, real-time availability of data, accessing large volumes of data stored across various systems to get a consolidated view, reducing infrastructure costs, and gaining business insights is the major growth driver for the data catalog market.

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Integrated solution segment is expected to grow at the highest CAGR in the global data catalog market during the forecast period

Many enterprises store large volumes of structured and unstructured data at internal as well as external systems; a quick access to the data stored at disparate sources has become important to gain better insights for making business-related decisions. To achieve these benefits, enterprises are deploying integrated solutions that provide various benefits to the data users with a single solution. Benefits include improved data quality, optimization of individual productivity, eradication of data duplication and silos, and simplified data discovery.

Major vendors in the global data catalog market are IBM (US), Informatica (US), Amazon Web Services (US), Alteryx (US), Collibra (Belgium), Alation (US), Microsoft (US), TIBCO Software (US), Datawatch Corporation (US), Waterline Data (US), Zaloni (US), and Tamr (US). New product launches and partnerships are key growth strategies adopted by these market players to offer feature-rich products and services to their customers and to enter the unserved regions.

IBM is one of the leading vendors in the data catalog market. The company follows inorganic growth strategies, such as partnerships and agreements, to enhance its product and solution offerings in the data catalog market. For instance, in March 2017, IBM formed a partnership with Salesforce to seamlessly connect IBM Watson and Salesforce Einstein to enable an entirely new level of intelligent customer engagement across sales, service, marketing, commerce, and more. In November 2017, IBM announced addition of new offerings to its Watson Data Platform, including data cataloging and data refining. The updated data platform allows developers and data scientists to analyze and prepare enterprise data for AI applications, regardless of its structure or where it resides.

Alation, another leading company in the market, also adopted the inorganic growth strategy, such as partnerships, to gain a dominant position in the data catalog market. For instance, in March 2017, Alation extended its partnership with Trifacta to continue joint delivery of an integrated solution for self-service data discovery and preparation. Apart from that, Alation has launched new product and product updates on regular basis in the data catalog market. For instance, in October 2017, Alation announced integration with Tableau 10.4. The updates will deliver governance for insight features supporting all Tableau customers on desktops as well as servers.

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Data Catalog Market worth 620.0 Million USD by 2022