Global Enterprise Metadata Management Market - Growth, Trend and Forecasts (2018 - 2023)
The Enterprise metadata management market has been valued at USD 2.72 billion in 2017 and is expected to grow at a CAGR of 22.6% during the forecast period (2018 - 2023) to reach USD 9.34 billion by 2023. The scope includes different Deployment modes of enterprise metadata management market, such as On-Cloud and on-premise. The regions considered under the scope of the report include North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Enterprise metadata management is now gaining traction in various end-user industries, and has caught the eye of various organizations for better metadata management. Some of the prominent trends that the market is witnessing include rising adoption of data governance tools among enterprise, cloud adoption and IOT devices penetration and proliferation of enterprise data are some main reasons owing to growth of enterprise metadata management market growth. However, growing data breaches across the globe could be a major hindrance for the growth of enterprise metadata management market.
Increasing Government Regulations Regarding Data Security
Increasing stringent regulations, uniformly across the globe, regarding data security and data management, is driving the market for metadata management tools and services among enterprises. Growing data breaching cases and increasing losses due to data breaching are forcing governments to deploy stringent policies to protect data. Recently due to General Data Protection Regulation in Europe, organizations must make significant changes in how they use and manage any data. This regulation is intended to protect the organization’s information stored and analyzed by organizations based outside of the EU as well. The United States new Cybersecurity laws shared service aims to tackle Government Website Security. In April 2017, the Australian government’s data retention law came into effect. The law requires telecommunications companies to store and manage customer metadata for at least two years. Hence growing government regulations regarding data are forcing enterprises to adopt data management tools and services. Therefore driving the market for enterprise metadata management.
Adoption of On-Cloud Enterprise Metadata Management Seeing Fastest Growth
Cloud service solutions are growing exponentially with the data they contain, which in return is growing the demand for On-cloud enterprise metadata management into the market. Due to the cloud, the data could be taken from various streams and sources, which also helps in improving decision-making process during analysis and data management. On-cloud type also enables better governance of enterprise data assets and improves information access through various context. On-cloud enterprise metadata management brings predictive analytics to risk management, real-time metadata management, Cloud Machine Learning models and advance metadata APIs into your streaming data pipelines. With public cloud platforms maturing and providing secure on-cloud connectivity, using them as extensions of core IT infrastructure, especially among SME’s, has become a reality. Therefore there is a high increase in adoption of enterprise metadata management hosted in the cloud and this is estimated to grow significantly during the forecast period.
North America is dominating the Enterprise Metadata Management Market
The North American market is dominating global metadata management market, owing to its early adoption of big data analytics companies in the US and a large number of metadata management vendors in the region which would help consolidate the majority of revenues in the enterprise metadata management market. Automation trends among all major industries are growing at a rapid pace in the region. Additionally, the adoption of cloud technologies in the area is also very high. With many industries implementing IoT and smart devices to enable better operations, the generation of metadata is growing exponentially. Hence the deployment of enterprise metadata management to enhance performance is also increasing. North America is also the most significant contributor to the global IT BFSI and retail market, the significant demand for enterprise metadata management solutions. Moreover, stringent government regulations for data security are resulting in companies to adopt data management tools and service. Hence thriving the demand for enterprise metadata management in the region.
Notable Developments in Enterprise Metadata Management Market
May 2018: Informatica, the enterprise cloud data management company, announced the general availability of the Informatica 2018 spring release during its 19th annual conference. This release of company’s hybrid data management solutions delivers innovative advances across all its core components, leveraging AI to enable employees at every level to unleash the power of data.
March 2018: DATUM, the leading provider of data governance and stewardship software, announced the release of their new Data Strategy Package. This package focuses on the capabilities necessary for organizations to easily get started with data governance.
Major Players: IBM CORPORATION, INFORMATICA LLC, SMARTLOGIC SEMAPHORE LTD, CAMBRIDGE SEMANTICS INCORPORATION, DATUM LLC, ORACLE CORPORATION, SAP SE, ORCHESTRA NETWORKS, ASG TECHNOLOGIES INCORPORATION, ADAPTIVE INCORPORATION, DATA ADVANTAGE GROUP, INC., and GLOBAL IDS INCORPORATION, amongst other.
Reasons to Purchase Enterprise Metadata Management Market Report
To understand the impact of enterprise metadata management applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Asia-Pacific is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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