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Data Catalog Market

Data Catalog Market Analysis By Component (Solutions, Services), By Data Consumer (BI Tools, Enterprise Applications, Mobile & Web Applications), By Deployment (Cloud, On-Premise), By End User (BFSI, Retail & e-Commerce, Healthcare) & By Region - Global Market Insights 2023-2033

Analysis of Data Catalog Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Data Catalog Market Outlook (2023-2033)

The global data catalog market is valued at US$ 700 million in 2023 and is anticipated to achieve a valuation of US$ 5 billion by 2033, increasing at a stupendous CAGR of 21.7% from 2023 to 2033 (forecast period).

A data catalog is an inventory system used by enterprises to store various data assets such as databases, output files, and web pages. It also assists organizations in searching and managing vast amounts of data while making it more visible to users.

These catalogs are key components of modern data management and are extensively used as a reference application by data users. As a consequence, it aids users in comprehending data and locating insightful information that is useful for decision-making.

Data catalogs are widely used in the BSFI, healthcare, e-Commerce, and manufacturing industries to minimize data silos and duplication while also simplifying data discovery. Since the COVID-19 outbreak, there has been a considerable increase in demand for various solutions that aid organizations in data analytics. The global shift toward remote working and cloud computing has increased demand for solutions that aid in boosting the security and ease of work.

  • According to a Sisense survey conducted in 2021, over 55% of the organizations surveyed had begun to use data to increase efficiency, approximately 47% to support consumers, and roughly 45% to anticipate future outcomes.

Larger organizations are more concerned with saving expenses than small enterprises, which are concerned with efficiency; as a result, the need for solutions such as data catalogs is increasing.

Data catalogs also assist in data governance and speed up data discovery. Data governance is a set of rules, principles, and procedures that ensures data is consistent and accurate. End-to-end data lineage can assist companies in comprehending where their data comes from, what happens to it, who utilizes it, and why.

Every day, tons of data is created, making it challenging for businesses to understand and extract important information from the data they have. The massive amount of data also impedes proper data management and control. Using a catalog within an organization helps speed up data search and evaluation. To achieve the goal of being data-driven, companies must set up systems and processes that allow data users to access the data they need efficiently.

  • As per an IBM study, firms spend more than half of their time searching for data and only a portion of their time using it.

By offering a centralized source of data for everyone, data catalogs remove the need for repetitive processes and work done in silos. They help the user quickly get all the information they need by providing detailed business glossaries and descriptions, quality reports, auto-generated data profiles, and features such as chats, dialogues, data sharing with a link, and in-line annotations. Such advantages of data catalogs are promoting their sales growth.

Report Attributes

Details

Market Size (2023)

US$ 700 Million

Projected Market Value (2033)

US$ 5 Billion

Global Market Growth Rate (2023-2033)

21.7% CAGR

North America Market Growth Rate (2023-2033)

18.9% CAGR

BSFI Segment Share (2022)

39%

Key Companies Profiled

  • Alation, Inc
  • Alteryx, Inc
  • Informatica
  • Amazon Web Services, Inc
  • Altair Engineering, Inc
  • IBM Corporation
  • Boomi, Inc
  • Microsoft Corporation

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Why are Data Catalogs Becoming Increasingly Important?

“Growing Need to Collect Data to Develop Business Strategies”

As the use of IoT grows, the generation of insights from incoming data is becoming increasingly important. Nevertheless, most unstructured data gathered from multiple sources, such as account information, previous versions of related documents, and email correspondences, does not aid business decisions.

As a result, businesses choose data catalogs to synthesize and organize enterprise data from several sources into one simple and accessible format. Many industry verticals, including banking, financial services, and insurance (BFSI), healthcare, and e-commerce, are leveraging data catalog solutions to generate meaningful insights for business strategies and decision-making.

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What is the Most Difficult Challenge That Data Catalog Companies Encounter?

“Misconceptions Regarding Data Privacy & Security Risks”

Organizations throughout the world are concerned about security and compliance. Consequently, they are hesitant to implement new solutions that include data handling or migration from one platform to another. Due to a lack of sufficient information about security standards and their implementation, many businesses believe that catalog management solutions would lead to data breaches.

These misconceptions stymie the adoption of data catalog tools. Users avoid utilizing these tools due to the fear of losing critical master and reference data owing to data errors that occur during compilation or upgrade. They are concerned about their data's privacy and accountability in the event of data theft or loss.

Due to these worries, the few small and medium-sized organizations (SMEs) that seek to embrace cloud-based data catalog solutions rescind their decision.

  • For example, after experiencing a data breach in October 2020, Pfizer was hesitant to embrace a cloud-based solution because of system integration challenges.

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Country-wise Insights

How is the United States Supporting North America's Market Dominance?

“Presence of Top IT Organizations & Data Catalog Providers”

North America, an early user of data catalog technology, is the biggest revenue-generating region in the worldwide market. The demand for data catalogs in North America is projected to develop at a CAGR of 18.9% during the forecast period.

The regional market growth is due to the increased usage of data in different BI tools and the growing acceptance of digital technologies in industries such as telecom and IT, BFSI, manufacturing, and healthcare.

The region has emerged as a leader in innovation, R&D, and technological developments in BI technology. Furthermore, smart city efforts are expanding across North America, resulting in a surge in raw data. The requirement for proper access to such raw data via BI tools for extracting essential information is likely to drive demand for different data catalog tools.

Moreover, regional key players such as Oracle, IBM, Informatica, AWS, Talend, Microsoft, and TIBCO Software, among others, are offering improved data catalog solutions and services to meet customer demands.

The United States is dominating the North American market. The United States is home to top IT organizations as well as data catalog providers who are continually working on improving their product offerings to meet the expanding end user requirements.

Which Countries are Contributing the Most to the Asia Pacific Market?

“Rapid Growth of Big Data in Japan & South Korea”

In recent years, Asia Pacific has witnessed a significant increase in the usage of data analytics. The region's demand for data catalogs is being spurred by the region's increasing use of cloud, IoT, and smart technologies. Due to the huge increase in data and analytical complexity, businesses in the region have been driven to engage in data-organizing platforms such as data catalogs.

Moreover, Japan and South Korea are making significant contributions to the Asia Pacific market. Big data is quickly developing in these countries due to increasing mobile and smartphone adoption rates, rising internet usage, urbanization trends, algorithm development, machine learning, and consumer and behavioral analytics demand. As a result, the need for data catalogs is increasing in Japan and South Korea.

What is the Growth Outlook for Data Catalogs in Germany?

“Rising Demand for AI-Based Business Intelligence Tools & Software”

Europe is a major driver and adopter of modern technology and is home to some of the world's most important tech centers.

Germany is a major market in Europe. The rising demand for AI-based business intelligence tools and software in the country is fueling the sales of data catalogs.

Category-wise Insights

Why are Data Catalogs Widely Used in the BFSI Sector?

“Increasing Transaction Volume Driving Usage of Data Catalogs”

The BFSI sector accounted for 39% of the global market for data catalogs in 2022. The banking industry is currently subject to government laws as well as intensive data collection. As technology advances, more consumers conduct transactions via more devices (such as smartphones), increasing transaction volume. This promotes the use of a data catalog, which provides data analysts with a centralized location to evaluate and rapidly discover all data assets.

Rapid expansion of data generated by the adoption of digital technology in the BFSI sector raises new management and compliance issues. To thrive in the years ahead, existing financial services firms such as banks, insurers, and asset managers must embrace both digital transformation and data privacy.

Moreover, e-commerce enterprises are also using data catalog solutions to organize data and derive the best conclusions for business requirements.

Competitive Landscape

Key players in the data catalog market are actively pursuing marketing tactics such as technological innovations, acquisitions, collaborations, and R&D activities to expand and improve their worldwide presence. Furthermore, several startups are raising funds to strengthen their market position.

  • Castor, a startup building a data catalog solution for businesses, announced in June 2022 that it had raised US$ 23.5 million in a Series A funding round led by Blossom, with participation from angel investors, including Dataiku's founder and Florian Douetteau. Castor intends to use the new funds to grow its sales and marketing teams in the United States and expand its platform's AI capabilities.
  • Alation joined forces with Fivetran, a global pioneer in modern data integration, in September 2022. Following this collaboration, the organizations wanted to help their clients comprehend and locate the entire context of data in the most recent data stack. The cooperation consolidated reliable, controlled data from multiple sources into a single view by utilizing the Fivetran Metadata API. This increases data visibility and enhances decision-making and data pipelines.
  • IBM inked an arrangement with Amazon Web Services, a subsidiary of Amazon, in May 2022. With this arrangement, the company concentrated on supplying a huge spectrum of software catalogs as Software-as-a-Service (SaaS) on the AWS platform.
  • IBM acquired Databand, a provider of visibility and monitoring services for data pipelines to enterprises, in July 2022. With this acquisition, IBM sought to incorporate Databand's observability services into its data fabric platform, allowing the company to access and regulate data for analytics, BI, and machine learning. The IBM data fabric platform contains the IBM Watson Knowledge Catalog, which provides data governance and data catalog capabilities to enable customers to recognize and use data for data analytics training or machine learning.

Key Segments of Data Catalog Industry Research

  • By Component :

    • Solutions
    • Services
  • By Data Consumer :

    • BI Tools
    • Enterprise Applications
    • Mobile & Web Applications
  • By Deployment :

    • Cloud
    • On-Premise
  • By End User :

    • BFSI
    • Retail & e-Commerce
    • Healthcare
    • Manufacturing
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- Premium Report Details -

Data Catalog Market
  • FACT8219MR
  • Dec-2022
  • Technology
  • 170 Pages
  • 80 Tables
  • 227 Figures

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The global data catalog market is valued at US$ 700 million in 2023.

The market for data catalogs is predicted to hit US$ 5 billion by 2033.

Global demand for data catalogs is expected to surge at a CAGR of 21.7% from 2023 to 2033.

The North American market is forecasted to increase at a CAGR of 18.9% during the forecast period.

Alation, Inc, Alteryx, Inc, Informatica, Amazon Web Services, Inc, Altair Engineering, Inc, IBM Corporation, Boomi, Inc, and Microsoft Corporation are key providers of data catalogs.

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