The data discovery market size has grown rapidly in recent years. It will grow from $15.9 billion in 2024 to $18.32 billion in 2025 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to increasing volume and complexity of data, rise of big data analytics, shift towards self-service analytics, regulatory compliance requirements, demand for real-time analytics.
The data discovery market size is expected to see exponential growth in the next few years. It will grow to $38.4 billion in 2029 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to focus on data governance and privacy, expanded adoption in small and medium enterprises (semes), focus on data democratization, enhanced data visualization and storytelling. Major trends in the forecast period include advancements in artificial intelligence (AI) and machine learning (ML), emergence of cloud computing, augmented analytics, integration of natural language processing (NLP), self-service data exploration.
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What key drivers have fueled the data discovery market’s development over the years?
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 organized into a formatted repository, whereas unstructured data is information that lacks a predefined data model or is not organized 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. For instance, in 2022, according to the article by Techjury, a US-based software company, the requirement to manage unstructured data is cited by 95 percent of firms as a challenge, and 97.2 percent of businesses are investing in big data and artificial intelligence for the growth of their businesses and brands. Therefore, increasing the use of structured and unstructured data is driving the data discovery market.
What is the segmentation for the data discovery market?
The data discovery market covered in this report 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
Subsegments:
1) By Software: Data Visualization Tools, Data Integration Tools, Data Preparation Tools, Data Governance Tools, Self-Service Analytics Tools
2) By Service: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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Who are the most influential companies in the data discovery market?
Major companies operating in the data discovery market include Amazon.com lnc., Alphabet Inc., Microsoft Corporation, Hitachi Ltd., IBM Corporation, Oracle Corporation, SAP SE, Micro Focus International plc, Tableau Software LLC, Tibco Software Inc., Cloudera Inc., Qlik Technologies lnc., Varonis Systems, Netwrix Corporation, DataSunrise lnc., BigID Inc., Digital Guardian, Immuta Inc., Datawatch Corporation, 1TOUCH.IO CORPORATION, Solix Technologies lnc., Datameer Inc., Nightfall AI lnc., DataGrail lnc., Dathena Science SAS, Microstrategy Inc.
What are the top industry trends projected to impact the data discovery market?
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.
What are the major regional insights for the data discovery market, and which region holds the top position?
The countries covered in the data discovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Data Discovery Market Report 2025 Offer?
The data discovery market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Data discovery refers to the process of acquiring and analyzing data from many sources in order to detect trends and patterns in the data by taking a series of actions that businesses may use as a framework to comprehend their data, which is frequently associated with business intelligence (BI) and assists in informing business decisions by bringing together disparate data sources to be examined.
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