DUBLIN--(BUSINESS WIRE)--The "Metadata Management Tools Market with COVID-19 Impact Analysis, by Component (Tools, Services), Metadata Type, Application (Data Governance, Risk & Compliance Management), Business Function, Deployment Mode, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The metadata management tools market size is projected to grow from USD 6.3 billion in 2021 to USD 15.1 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 19.0%
The major factors driving the growth of the metadata management tools market are the growing importance of centralized data management, the rising importance of metadata management in data security, and the increasing need for higher data quality and trusted analytics.
Based on Component, the tools segment to account for a larger market size during the forecast period
The metadata management tools market has been segmented by two components: tools and services. The deployment of metadata management tools has witnessed an increase in adoption, as it serves a variety of purposes, such as resource discovery and stringent non-compliance penalties on the breach of any confidential data that might be internal or external to the company in the developed countries of North America and Europe.
The growing adoption of metadata management tools across all major verticals, such as retail, manufacturing, telecom and IT, and BFSI, to fuel the growth of the metadata management tools market.
Based on application, the risk and compliance management segment is expected to hold the highest market size during the forecast period
The metadata management tools market has been segmented by application into data governance, risk and compliance management, incident management, product and process management, and others (operations management, and employee performance data management).
Among application, the risk and compliance management segment is estimated to account for the largest market during the forecast period. Organizations use risk management applications to enhance their risk intelligence capabilities and address risk exposures.
Based on vertical, the BFSI segment is expected to hold the highest market size during the forecast period
Metadata management tools are gaining acceptance among all verticals to improve profitability and reduce overall costs. The major verticals adopting metadata management tools and services include BFSI, retail and consumer goods, government, telecom and IT, healthcare, manufacturing, energy and utilities, and transportation and logistics, and other verticals. BFSI, by vertical segment, to account for a larger market size during the forecast period.
The need for data governance solutions to centralize data and maintain it in compliance with rules and regulations to avoid any financial loss is expected to support the market growth across the BFSI vertical.
North America to hold the highest market size during the forecast period
North America is estimated to account for the largest market share during the forecast period. In North America, data management and data governance solutions are considered highly effective by most organizations and verticals.
On the other hand, Europe is gradually incorporating these advanced solutions within its enterprises. APAC is witnessing a substantial rise in the adoption of metadata management tools owing to the increasing digitalization and rising demand for centrally managed systems.
Some prominent players profiled in the study include IBM (US), Microsoft (US), Oracle (US), SAP (Germany), ASG Technologies (US), Adaptive (US), Cambridge Semantics (US), CentricMinds (Australia), Collibra (US), Data Advantage Group (US), Informatica (US), GlobalIDS (US), TopQuadrant (US), Atlan (Singapore), Erwin (US), Infogix (US), Syniti (US), Smartlogic (US), Solidatus(UK), Alation (US), Alex Solutions(Australia), Magnitude Software(US), Immuta (US), Data.World (US), and Zeenea (France).
- Increasing Need to Minimize the Risk and Maximize the Trust of Data Assets to Drive the Growth of the Metadata Management Tools Market
- Banking, Financial Services, and Insurance Vertical to Hold the Largest Market Share During the Forecast Period
- North America to Hold the Largest Market Share in 2020
- Risk and Compliance Management Segment and Banking, Financial Services, and Insurance Vertical to Account for the Largest Shares in the Metadata Management Tools Market in 2021
- Growing Importance of Centralized Data Management
- Rising Importance of Metadata Management in Data Security
- Rising Need for Higher Data Quality and Trusted Analytics
- Uncertain Roi
- Lack of Awareness Regarding the Benefits Provided by Metadata Management Among Consumers
- Rapid Growth of Business Data Volumes Presents Great Opportunities for the Metadata Management Tools Market
- Growing Applications of Ai in Metadata Management
- Selection of the Right Metadata Management Tool
- Document Type
- Innovation and Patent Applications
- Total Number of Patents Granted in a Year, 2018-2021
- Top Applicants
- Top Ten Companies with the Highest Number of Patent Applications, 2018-2021
Case Study Analysis
- A Financial Firm Streamlined Data Governance Practices with Metadata Management
- Business Metadata and Data Relationships Made It Easier for End-users to Access Data in a Consistent Manner
- Renowned Fmcg Company in India Opted for a Data Management Tool for the Governance of Huge Data Volumes Across Different Countries
- Financial Services Organization Created a Solution to Perform Risk and Policy Management
- Retailer Streamlined Data Management with Data Stewardship
- General Data Protection Regulation
- California Consumer Privacy Act
- Health Insurance Portability and Accountability Act of 1996
- Health Information Technology for Economic and Clinical Health Act
- European Market Infrastructure Regulation
- Basel Committee on Banking Supervision 239 Compliance
- Sarbanes-Oxley Act of 2002
- Personal Data Protection Act
- Artificial Intelligence, Machine Learning, and Metadata Management
- Data Governance and Metadata Management
- Alex Solutions
- ASG Technologies
- Cambridge Semantics
- Data Advantage Group
- Global Ids
- Magnitude Software
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