Data Discovery Market: A Look at the Industry’s Growth and Future Prospects

Data Discovery Market
Data Discovery Market

The global data discovery market size is expected to reach USD 30.35 Billion in 2030 and register a steady revenue CAGR of 15.6% over the forecast period, according to latest analysis by Emergen Research. Steady data discovery market revenue growth can be attributed to need to discover sensitive structured and unstructured data. Knowing customers data has much commercial importance as consumers are critical to modern digital businesses. Companies invest a lot of time trying to understand their consumers, first through Master Data Management (MDM) technology and to more recently using sophisticated big data analytics. However, as businesses increase the number of digital touch points beyond the desktop web and include smart devices, wearables, AI assistants, and IoT, previous approaches for centralizing data and combining knowledge become less viable. Currently, data ‘seeps’ through structured, semi-structured, and unstructured data repositories with ease. It also spreads across data centers and cloud, big data, data lakes, and numerous other internal and external applications. There is customer data everywhere, encoded in a variety of methods and languages. Hence, data discovery is necessary to find such data.

The Data Discovery market research report is broadly bifurcated in terms of product type, application spectrum, end-user landscape, and competitive backdrop, which would help readers gain more impactful insights into the different aspects of the market. Under the competitive outlook, the report’s authors have analyzed the financial standing of the leading companies operating across this industry. The gross profits, revenue shares, sales volume, manufacturing costs, and the individual growth rates of these companies have also been ascertained in this section. Our team has accurately predicted the future market scope of the new entrants and established competitors using several analytical tools, such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.

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Competitive Landscape

 The report presents a holistic investigation of the Data Discovery business mechanism and growth-oriented approaches undertaken by the leading companies operating in this market. The report highlights the numerous strategic initiatives, such as new business deals and collaborations, mergers & acquisitions, joint ventures, product launches, and technological upgradation, implemented by the leading market contenders to set a firm foot in the market. Hence, this section is inclusive of the company profiles of the key players, total revenue accumulation, product sales, profit margins, product pricing, sales & distribution channels, and industry analysis.

Leading Players Profiled in the Report Include:

IBM, Microsoft, Oracle, Salesforce, Inc., SAS Institute, Inc., Google, Amazon Web Services, Inc., MicroStrategy, Micro Focus, Thales

Some Key Highlights From the Report

  • On 28 June 2022, BigID, which is a leading data intelligence platform that enables organizations to know their enterprise data and take action for privacy, security, and governance, announced that they have joined the HPE GreenLake Marketplace, which is a curated ecosystem of partners that enables customers to easily deploy software on the HPE GreenLake platform. A strategic investor in BigID through Hewlett Packard Pathfinder, HPE’s continued collaboration with BigID unlocks more value and brings more insight to enterprise data than ever before.
  • Services segment is expected to register a rapid revenue growth rate over the forecast period. This can be attributed to increasing adoption of data discovery services. Enterprise data which is housed in various devices and storage systems is accessible to employees, business partners, and clients. Data must be identified and categorized for every company in order to secure it and derive valuable insights. Enterprises can identify who has access to and where data is located with the aid of data detection, as well as to identify which data is transmitted, how it is done, and over what channels. In addition, data can be used to classify data manually or automatically, identify sensitive data, categorize it, and keep track of sets. It can also be used to display datasets and the applications that use them, perform risk management, and evaluate compliance. It can also be used to adhere to guidelines to manage and safeguard data in accordance with the situation, and for reducing the likelihood of data migrations.
  • The on-premises segment is expected to account for relatively larger revenue share in the global market over the forecast period owing to increased adoption due to highly secure data encryption, complete data visibility, and control feature. Businesses do not want private information they handle to be accessible by unauthorized individuals or persons. On-premises solutions helps to avoid this possibility. Organizations are responsible for selecting who gets access to and who does not in their own data infrastructure, which they own. When selecting a cloud vendor, organizations are required to sign a lengthy contract. Occasionally, a single agreement binds a company for 10, 15, or even more years. When using on-premise solutions, this is not the case. Companies can change to a different infrastructure whenever required and are completely independent. On-premises software can help a corporation become more adaptive as well.

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Emergen Research has segmented the global data discovery market on the basis of component, deployment mode, vertical, and region:

  • Component Outlook (Revenue, USD Million; 2019–2030)

    • Solutions
    • Services
      1. Professional Services
      2. Managed Services
  • Deployment Mode Outlook (Revenue, USD Million; 2019–2030)

    • On-Premises
    • Cloud
      1. Public Cloud
      2. Private Cloud
      3. Hybrid Cloud
  • Vertical Outlook (Revenue, USD Million; 2019–2030)

    • Banking, Financial Services, & Insurance
    • Government
    • Healthcare & Life Sciences
    • Retail
    • Manufacturing
    • Media & Entertainment
    • Telecommunications & Information Technology
    • Transportation & Logistics
    • Other Verticals

The global Data Discovery market is classified into the following regions:

  • North America (the U.S., Canada)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Europe (the U.K., Italy, Germany, France, Rest of EU)
  • Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • The Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

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Key Points Covered in This Section:

  • Regional contribution
  • Estimated revenue generation
  • Vital data and information about the consumption rate in all the leading regional segments
  • An expected rise in market share
  • Forecast growth in the overall consumption rate

Report Highlights:

  • Besides offering a vivid depiction of the global Data Discovery business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
  • The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030).
  • The report scrutinizes the salient factors influencing the growth of the market in the near future.
  • The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.

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