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Data Discovery Global Market Report 2022

·4-min read
ReportLinker
ReportLinker

Major players in the data discovery market are Oracle Systems Corporation, Tableu Software LLC, Systems, Applications & Products in Data Processing, Alteryx, Platfora Inc, Qlik Technologies Inc, ClearStory Data Inc, Cloudera Inc, Databricks, Panorama Software, PKWARE, Datameer Inc, HP Enterprise, Thales, Aegis Softtech, and Crest Infosystems Pvt.

New York, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Data Discovery Global Market Report 2022" - https://www.reportlinker.com/p06319473/?utm_source=GNW
Ltd.

The global data discovery market is expected to grow from $10.32 billion in 2021 to $12.27 billion in 2022 at a compound annual growth rate (CAGR) of 18.9%. The data discovery market is expected to grow to $22.93 billion in 2026 at a CAGR of 16.9%.

The data discovery market consists of sales of data by entities (organizations, sole traders, and partnerships) that are used to understand trends and patterns in the data.The process of acquiring and analysing data from many sources in order to detect trends and patterns in the data is known as data discovery.

It necessitates a series of actions that businesses may use as a framework to comprehend their data. Data discovery, which is frequently associated with business intelligence (BI), assists in informing business decisions by bringing together disparate data sources to be examined.

The main types of data discovery are software and services.The software allows one to collect and combine data from multiple sources in order to identify patterns and trends.

The primary functions of data discovery software are data preparation, data modeling, visual analysis, and advanced statistical analysis.Software refers to programmes that require an electronic device such as a computer to run.

The various deployment models are cloud-based or on-premises and are used in various organisation sizes, such as large enterprises and small and medium enterprises. The industries in which it is used include banking, financial services, and insurance (BFSI), telecommunications and IT, retail and e-commerce, manufacturing, energy and utilities, and other industry verticals.

North America was the largest region in the data discovery market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this data discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The Data discovery devices market research report is one of a series of new reports that provides Data discovery devices market statistics, including global market size, regional shares, competitors with a Data discovery devices market share, detailed Data discovery devices market segments, market trends and opportunities, and any further data you may need to thrive in the Data discovery devices industry. This data discovery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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. 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 growth of 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.

In August 2019, Salesforce Inc., a US-based software company, acquired Tableau Software for a deal amount of $15.7 billion. Through this acquisition, both companies aim to change the way people comprehend not only their customers, but their entire world, by providing strong AI-driven insights for individuals of all skill levels across all types of data and use cases. Tableau Software is a US-based interactive data visualisation software company focused on business intelligence.

The countries covered in the data discovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06319473/?utm_source=GNW

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