Data Discovery Global Market By Component, By Application, By Organization Size, By Deployment Mode, By Region And Segment Forecasts, 2023-2032 | Alteryx, Platfora Inc., Qlik Technologies Inc., ClearStory Data Inc., Cloudera Inc.

The Data Discovery Global Market Report 2023 by The Business Research Company, provides data discovery market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Data Discovery Global Market Report 2023, the market size will grow from $12.29 billion in 2022 to $14.5 billion in 2023 at a compound annual growth rate (CAGR) of 18.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the data discovery is expected to grow to $27.55 billion in 2027 at a CAGR of 17.4%.

The increasing need for structured and unstructured data is driving the growth of the data discovery market going forward. Structured data refers to information that has been organised into a formatted repository, whereas unstructured data is information that lacks a predefined data model or is not organised in a predefined way. Enterprises may extend data access to all employees by integrating data discovery tools, allowing data teams and business analysts to comprehend and cooperate on data-related topics.

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The data discovery market is segmented:

1) By Component: Software, Service

2) By Deployment Model: Cloud-Based, On Premises

3) By Organization Size: Large Enterprises, Small Enterprises

4) By Industry Verticals: Banking, Financial Services, and Insurance (BFSI), Telecommunications and IT, Retail and E-Commerce, Manufacturing, Energy and Utilities, Other Industry Verticals

New product innovations are the key trend gaining popularity in the data discovery market. Major companies operating in the data discovery market are focused on developing technologically advanced products to strengthen their market position. For instance, in February 2022, DvSum, a US-based cloud-based data intelligence platform, launched its next-generation Data Catalog solution that makes it much easier to discover, monitor, and govern data with the help of the smart, augmented, live Data Catalog. DvSum Catalog is smarter, easier to use, inexpensive, and intended for teams and companies of all sizes, unlike other data catalogue products on the market. This software combines basic metadata such as data dictionaries with real-time data profiles, computes data quality ratings, and connects them to business definitions and attributes. This provides users with an unrivaled, comprehensive, 360-degree perspective of the data, allowing them to provide timely and accurate insights into the business.

The data discovery market report table of contents includes: