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According to the global data catalog market analysis, it is anticipated that the services segment is likely to experience substantial growth in the coming years. Through the implementation of metadata management services, businesses enhance the accuracy of their data and facilitate improved monitoring and tracking. The majority of data catalog services provide a comprehensive lineage of data across various platforms, pipelines, datasets, graphs, and dashboard services, along with proficiency in summarising statistics and tagging, as well as adept documentation skills.
The Asia Pacific is poised to exhibit a high growth rate in the coming years to cover a substantial portion of the global data catalog market share. The region experiences a significant surge in dataset generation owing to widespread digitalisation. Consequently, the rapidly developing commercial/retail sector creates a surge in demand for data catalog services. Moreover, the region is witnessing rapid growth in mobile and web application development, driven by the increasing reliance of individuals on applications for their daily tasks, which is likely to further bolster the market expansion in the forecast period.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 1.22 billion.
The market is projected to grow at a CAGR of 24.1% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 8.49 billion by 2032.
The market is driven by the increasing utilisation of data catalog services in different sectors and the increasing importance of data-driven decision-making.
The growing integration of artificial intelligence and machine learning algorithms and the adoption of cloud technologies for data catalogs are likely to guide the market development in the forecast period.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different metadata types of data catalog include business metadata, technical metadata, and operational metadata.
The key players in the market include IBM Corporation, Microsoft Corporation, Oracle Corporation, Alation Inc., Hitachi Vantara LLC, Informatica Inc., Collibra NV, Cloudera, Inc., Apache Software Foundation, and Talend, Inc., among others.
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