The global data governance market is estimated to show an increase from USD 915.8 million in 2018 to USD 4.25 billion in 2025 and is expected to grow at a CAGR of 21.2% over the forecast period.

New York, NY -- (SBWire) -- 07/06/2018 --Its applications in various industries like Healthcare, Financial services, Retail, Government and IT & Telecom have resulted in the rapid growth of the data governance market. Increase in demand for risk management and adoption of improved streamline operation system are helping in its expansion.

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Key players in the field of data governance market includes Data3Sixty Inc., Reltio Inc., Alation Inc., Magnitude Software, Global Data Excellence, SAP SE, International Business Machines(IBM), Oracle Corporation, Alfresco Software Inc., Oracle Corporation, Symantec Corporation and Informatica.

Rapid growth in data size, enhancement of strategic risk management process, improvement in accuracy of decision making process, compliance as well as regulatory mandates along with increase in collaborations are the factors driving the growth of the market for global data governance. Increase in popularity of Artificial Intelligence (AI) and its applications is expected to create a positive impact in the market over the forecast year.

Deployment Scenario (Revenue, USD Million; 2016–2025)
- On-premises
- Cloud

Organization size Scenario (Revenue, USD Million; 2016–2025)
- Small and Medium sized Enterprises (SMEs)
- Large Enterprises

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Components Scenario (Revenue, USD Million; 2016–2025)
- Solution
- Services

Application Scenario (Revenue, USD Million; 2016–2025)
- Process Management
- Risk Management
- Data Quality and security management
- Incident Management
- Compliance Management
- Audit Management
- Others

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Deployment Model

Data governance model can be implemented both on-premises and cloud. Cloud computing provides more effective solution and therefore captures larger market share. However, on-premises model provides customization from the vendor side but on the other hand for cloud model, customization needs to be done by the end users.

Privacy is one of the major concerns that is limiting the market for cloud, with companies not able to trust the third party in terms of safety of their data. Integration of existing process of the company with the cloud is another limitation as sometimes customer database is not easily transferred along with cost associated with data recovery are some other limitations of cloud model.

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