Global Data Discovery Market Analysis and Forecast to 2022 | Growth Opportunity Assessment
Princeton, NJ -- (SBWIRE) -- 06/13/2018 -- Data discovery can be defined as a decision-making platform which assimilates, structures, and refines data. Globally, data discovery software and services are rapidly taking over from traditional Business Intelligence (BI) tools, which cannot be utilized and accessed without help from the technical staff. Major drivers of the data discovery market are rising trends of self-service BI tools and generating insights & discovering trends from increasing volume of data. The data discovery market faces challenges, such as security & privacy concerns and shifting from traditional architecture to new systems. Major factors that is restraining the growth of the market is unclear Returns on Investment (RoI).
Explore More Information about report @ https://www.researchcosmos.com/reports/global-data-discovery-market-analysis-and-forecast-to-2022-growth-opportunity-assessment/1525317
The data discovery market is estimated to grow from USD 4.33 Billion in 2016 to USD 10.66 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. Generating insights from multi-structured data sources, rising trends of self-service technologies, and importance of data-driven decision-making are the drivers that propel the growth of the market.
The report provides detailed insights into the global data discovery market, which is segmented by type, professional service, application, organization size, deployment model, vertical, and region. In type, data discovery market software is expected to have the largest market share for the forecast period. Operations find surplus applications which can benefit by adapting data discovery technologies. Risk management application, which is applicable across all the major industry verticals is expected to have the largest market share. Considering today's highly-volatile financial environment, immensely networked organizations, and global operating models identifying risk & subsequently managing such risks have become a critical task for financial organizations. Advanced analytics is a boon to these industries that require real-time intelligence to make swift decisions in remote locations.
On-premises deployment model has a higher adoption, as compared to the cloud deployment model. This is mainly because of it attributes, such as confidentiality and privacy parameters to the organizational data. The Baking, Financial Services, & Insurance (BFSI) segment has shown the largest market share in vertical segment, where solutions are used to predict to tackle issues, such as insufficient data modeling capabilities. It helps identify potential customer segments, trap them with effective offers, and come up with the most efficient investment plan. However, the manufacturing industry is poised to grow at the highest rate during the forecast period, which will help them in streaming real-time analytics ingesting from sensors and devices in the factory environment.
Request free sample @ https://www.researchcosmos.com/request/1525317
In organizations, Small and Mid-Sized Businesses (SMBs) are expected to have the highest adoption rate of data discovery software, due to the availability of low cost cloud deployments options. The ever-growing volume of data, because of the use of social media, mobile applications, and entertainment devices are the major factors for adoption of data discovery solutions and services among SMBs & large enterprises.
The report covers all the major aspects of the data discovery market and provides an in-depth analysis across the regions of North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The market in North America is expected to hold the largest share. The APAC region is projected to have great opportunities in this market and to grow at the highest CAGR by 2021. This is due to the massive growth of data through Internet of Things (IoT) and other connected devices.
Major vendors that offer data discovery offerings globally are Tableau Software (U.S.), Datawatch Corporation (U.S.), TIBCO Software (U.S.), SAP SE (Germany), Datameer, Inc. (U.S.), Qlik Technologies (U.S.), and ClearStory Data (U.S.). These vendors adopted different types of organic, as well as, inorganic growth strategies, such as new product launches, partnerships & collaborations, and mergers & acquisitions, to expand their offerings in the data discovery market.
Check for discount @ https://www.researchcosmos.com/discount/1525317
About Research Cosmos
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on gamut of sectors across the globe. We're associated with world renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.
# +1 888 709 8757