Data Discovery Market by Type (Software and Service), Service (Professional and Managed), Application (Risk Management, Sales & Marketing Optimization, and Cost Optimization), Deployment, Organization Size, Vertical, and Region - Global Forecast to 2021
“Rising trend of multi-sourced data-driven decision-making is one of the biggest drivers for the data discovery market globally”
The global data discovery market size is estimated to grow from USD 4.33 billion in 2016 to USD 10.66 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 19.8%. There is increase in data traffic due to the exponential growth of big data, resulting in exponential growth of big data and Business Intelligence (BI) technologies. Hence, there is a huge demand for data discovery software & services to analyze the data and get actionable insights.
“The data discovery software accounts for the largest market share during the forecast period”
The data discovery market by software type is estimated to grow with the largest market share during the forecast period. Data discovery software is being used in various verticals and have various applications. The software filters the aggregated and enriched data, so that it can be analyzed to provide a high throughput from multiple input data sources. Based on the data analyzed, organizations could generate business-related insights and plan the next steps accordingly, as soon as the data arrives. Data discovery software is also being used for asset & liability management, budgetary control management, general ledger management, payables & receivables management, and profitability management.
“Asia-Pacific is projected to grow at the highest rate during the forecast period”
North America holds the largest market share in 2016 and the trend is expected to continue in the coming years. The data discovery market is showing strong positive trends in the region as several companies and industries are adopting data discovery software at various levels, as a part of their strategy to strive in the market and increase their productivity. The Asia-Pacific (APAC) market is expected to witness exponential growth and is projected to be the fastest-growing region for the global data discovery market. This is due to the rising demand for BI technologies, such as data discovery software and services.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
By Company Type: Tier 1: 33%, Tier 2: 41%, and Tier 3: 26%
By Designation: C-level: 47%, Director level: 35%, and Others: 18%
By Region: North America: 42%, Europe: 18%, APAC: 30%, MEA: 4%, and LA: 6%
The various key vendors profiled in the report are as follows:
1. Tableau Software (U.S.)
2. Datameer, Inc. (U.S.)
3. Cloudera, Inc. (U.S.)
4. TIBCO Software, Inc. (U.S.)
5. Birst, Inc. (U.S.)
6. Datawatch Corporation (U.S.)
7. Qlik Technologies Inc. (U.S.)
8. SAP SE (Germany)
9. ClearStory Data (U.S.)
10. Platfora (U.S.)
11. Oracle Corporation (U.S.)
12. MicroStrategy, Inc. (U.S.)
The report segments the data discovery market on the basis of type, which includes software & services and on the basis of services, such as managed services and professional services. Under professional services, the report is further segmented into support & maintenance and consulting services, under deployment models, it is segmented into hosted and on-premises, and under verticals, it includes Banking, Financial Services, & Insurance (BFSI), government, healthcare, retail & e-commerce, manufacturing, energy & utilities, transportation, IT & telecommunications, and others (real estate, travel & hospitality, and research) in the regions of North America, Europe, APAC, Middle East & Africa (MEA), and Latin America.
Reasons to buy the report
To get a comprehensive overview of the global data discovery market
To gain wide ranging information about the top players in this market sphere, their product portfolios, and key strategies adopted by them
To gain insights of the major countries/regions, in which the data discovery market is flourishing in various industries