Data Catalog Market Size Hits $1.8 Billion by 2027, growing at a CAGR of 22.0%: Report by MarketsandMarkets

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Chicago, Jan. 30, 2023 (GLOBE NEWSWIRE) — The global Data Catalog Market size is expected to grow from USD 0.7 billion in 2022 to USD 1.8 billion in 2027, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period, according to a new report by MarketsandMarkets™.

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Scope of the Report

A data catalog is a collection of metadata, combined with data management and search tools, which helps analysts and other data users find the data they need. It also serves as an inventory of available data and provides information to evaluate data fitness for intended uses.

Data catalogs come to the rescue in managing data knowledge. It helps users decide what data to use, where to find it, and how to use it for analytical consistency. It also helps determine the trustworthiness of data and understand the meaning of specific data. A data catalog indexes data repositories and serves as a single reference point for aggregated, linked, and contextual data views. Data catalogs have quickly become a core component of modern data management. Organizations with successful data catalog implementations see remarkable changes in the speed and quality of data analysis.

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The data and analytics landscape in many organizations has become increasingly complex. This is driven by the need to extract more and more business insights (including real-time) from a wide variety of disparate data sources (both internal and external, online, and offline) and use those insights to build better products, enhance customer experience, improve operational efficiency, and drive growth. Data that delivers business insights is now spread across multiple data repositories, such as data warehouses, data lakes, operational data stores, and others. As a result of such complexity, data users, specifically those working on self-service analytics, face challenges in consuming data effectively and efficiently. In today’s high-stakes business context, the speed and accuracy of analytics, especially for time-critical business decisions where reaching the target customers with the right offerings at the right time is crucial to outsmart the competition, have gained significance.

The proliferation of data generation and the rising adoption of self-service analytical solutions give a new leash to data catalog technology. It is being widely used in BI solutions. In addition, the rising investment in AI-enabled data catalog solutions and the increasing adoption of BI tools across the globe are some of the major factors that are expected to provide opportunities for the growth of the data catalog market. Moreover, the adoption of data catalog solutions has been fueled globally due to its broad data consumer base among various end-users, including BFSI, retail and eCommerce, and healthcare. The critical and appropriate data fetched using data catalog solutions from various data points is consumed by many BI tools, enterprise applications, and mobile and web applications. They use the data to gain critical business insights.

Market Players

Major vendors operating in the Data Catalog Market include IBM (US), Microsoft (US), TIBCO Software (US), Collibra (Belgium), Alation (US), Oracle (US), Google (US), Informatica (US), Alteryx (US), Zaloni (US), Cloudera (US), Talend (US), Ataccama (Canada), Quest software (Acquired Erwin), Tamr (US), Denodo (US), Tableau (US), AWS (US), Cambridge Semantics (US), Octopai (Israel), Alex Solutions (Australia), Immuta (US), Data.World (US), Solidatus (UK), Atlan (Singapore), Stemma (US), Castor (US), and Zeenea (France).

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