Data Discovery Market Report 2024 (Global Edition)

Global Data Discovery Market Report 2024 Market Size Split by Component (Solutions, Services, Support and Maintenance, Deployment and Integration, Consulting), by Application (Security and Risk Manage...

Data Discovery Market Report Description

We have various report editions of Data Discovery Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Data Discovery

The competitive landscape is also shaped by the emergence of new entrants and startups, introducing disruptive technologies that challenge traditional market leaders. As businesses increasingly recognize the importance of data-driven decision-making, the Data Discovery market's competitive dynamics are expected to intensify, fostering a continual drive for technological excellence and market dominance.

• June 2022: TD SYNNEX's SNX Tech Data established a collaboration with Instructure INST, a Learning Management Systems ("LMS") company, to utilize advanced learning capabilities in India. TD SYNNEX earned a substantial advantage with this deal, in addition to developing its data, Internet of Things, and analytics products.

(Source:www.tdsynnex.com/na/us/)

Top Companies Market Share in Data Discovery Industry: (In no particular order of Rank)

• IBM (US)
• Microsoft (US)
• Oracle (US)
• Salesforce
• Work.com (US)
• SAS (US)
• Google (US)
• Amazon Web Services (AWS) (US)
• Micro Focus (UK)
• Thales (US)
• Cloudera (US)
• Alteryx (US)
• PKWARE (US)
• Spirion (US)
• Egnyte (US)
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

North America held the major market of more than 40% of the global revenue with a market size of USD 3006.88 million in 2023 and will grow at a compound annual growth rate (CAGR) of 13.3% from 2023 to 2030.

According to Cognitive Market Research, the global Data Discovery market size was estimated at USD 7517.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 3006.88 million in 2023 and will grow at a compound annual growth rate (CAGR) of 13.3% from 2023 to 2030. North America stands as the largest and most influential region in the Data Discovery market, characterized by robust technological infrastructure, a high level of digitalization, and a proactive approach toward data-driven decision-making. The region's advanced IT landscape propels the adoption of Data Discovery tools across various industries, fostering innovation and efficiency. Within North America, the segmentation analysis reveals a diverse adoption pattern across industries. The BFSI sector takes the lead, leveraging Data Discovery for enhanced risk management and customer-centric strategies. In conclusion, North America's dominance in the Data Discovery market is driven by a synergistic blend of technological readiness, data-centric industries, and a strategic emphasis on leveraging insights for competitive advantage.

According to Cognitive Market Research, the global Data Discovery market size was estimated at USD 7517.2 Million out of which Asia Pacific held the fastest growing market of more than 23% of the global revenue with a market size of USD 1728.96 million in 2023 and will grow at a compound annual growth rate (CAGR) of 17.1% from 2023 to 2030. Asia Pacific emerges as the fastest-growing region in the Data Discovery market, fueled by a combination of rapid digital transformation, increasing data volumes, and a burgeoning focus on analytics-driven decision-making. The region's diverse economies, including emerging markets and established tech hubs, contribute to the dynamic growth of Data Discovery solutions. Within Asia Pacific, a segmentation analysis reveals a diverse landscape of adoption. Industries such as banking and finance, manufacturing, and healthcare are embracing Data Discovery tools to unlock insights, improve operational efficiency, and gain a competitive edge. In conclusion, Asia Pacific's status as the fastest-growing region in the Data Discovery market is underscored by its strategic adoption across diverse industries. The region's economic dynamism, combined with a proactive stance toward technological advancements, positions Asia Pacific as a key player in shaping the future of data analytics.

The current report Scope analyzes Data Discovery Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Data Discovery

According to Cognitive Market Research, the global Data Discovery market size was estimated at USD 7517.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 3006.88 million in 2023 and will grow at a compound annual growth rate (CAGR) of 13.3% from 2023 to 2030. North America stands as the largest and most influential region in the Data Discovery market, characterized by robust technological infrastructure, a high level of digitalization, and a proactive approach toward data-driven decision-making. The region's advanced IT landscape propels the adoption of Data Discovery tools across various industries, fostering innovation and efficiency. Within North America, the segmentation analysis reveals a diverse adoption pattern across industries. The BFSI sector takes the lead, leveraging Data Discovery for enhanced risk management and customer-centric strategies. In conclusion, North America's dominance in the Data Discovery market is driven by a synergistic blend of technological readiness, data-centric industries, and a strategic emphasis on leveraging insights for competitive advantage.

Europe Data Discovery

According to Cognitive Market Research, the global Data Discovery market size was estimated at USD 7517.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 2255.16 million in 2023 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2023 to 2030. Europe stands as a pivotal region marked by a mature technological landscape and a strong emphasis on data-driven decision-making. European enterprises, spanning industries such as finance, healthcare, and manufacturing, are keenly adopting Data Discovery tools to harness the potential of their data. The region's commitment to privacy and data governance aligns with the versatile applications of these tools, ensuring compliance with stringent regulations and standards. A detailed segmentation analysis reveals diverse patterns of adoption across European industries. The financial sector, including banking and insurance, leads in leveraging Data Discovery for risk management and customer insights. In conclusion, Europe's role in the Data Discovery market is characterized by a harmonious blend of technological sophistication and industry-specific applications. As organizations navigate the evolving data landscape, Europe remains at the forefront of utilizing Data Discovery solutions to drive innovation, achieve operational efficiencies, and make informed decisions.

Asia Pacific Data Discovery

According to Cognitive Market Research, the global Data Discovery market size was estimated at USD 7517.2 Million out of which Asia Pacific held the fastest growing market of more than 23% of the global revenue with a market size of USD 1728.96 million in 2023 and will grow at a compound annual growth rate (CAGR) of 17.1% from 2023 to 2030. Asia Pacific emerges as the fastest-growing region in the Data Discovery market, fueled by a combination of rapid digital transformation, increasing data volumes, and a burgeoning focus on analytics-driven decision-making. The region's diverse economies, including emerging markets and established tech hubs, contribute to the dynamic growth of Data Discovery solutions. Within Asia Pacific, a segmentation analysis reveals a diverse landscape of adoption. Industries such as banking and finance, manufacturing, and healthcare are embracing Data Discovery tools to unlock insights, improve operational efficiency, and gain a competitive edge. In conclusion, Asia Pacific's status as the fastest-growing region in the Data Discovery market is underscored by its strategic adoption across diverse industries. The region's economic dynamism, combined with a proactive stance toward technological advancements, positions Asia Pacific as a key player in shaping the future of data analytics.

South America Data Discovery

According to Cognitive Market Research, the global Data Discovery market size was estimated at USD 7517.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 375.86 million in 2023 and will grow at a compound annual growth rate (CAGR) of 14.5% from 2023 to 2030. The Latin America region is witnessing a burgeoning interest in the Data Discovery market, propelled by a growing awareness of the transformative potential of data analytics. Latin American enterprises across diverse sectors, including finance, healthcare, and telecommunications, are embracing Data Discovery tools to enhance operational efficiency and gain a competitive edge. A nuanced segmentation analysis uncovers distinct patterns of adoption within Latin America. Financial institutions leverage Data Discovery for risk management and fraud detection, while healthcare organizations use these tools to improve patient outcomes and optimize healthcare delivery. In conclusion, Latin America is becoming a dynamic player in the Data Discovery market, driven by a growing appetite for data-driven insights. As organizations in the region increasingly recognize the strategic importance of leveraging their data, the adoption of Data Discovery tools is poised for continued growth.

Middle East and Africa Data Discovery

According to Cognitive Market Research, the global Data Discovery market size was estimated at USD 7517.2 Million out of which Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 150.34 million in 2023 and will grow at a compound annual growth rate (CAGR) of 14.8% from 2023 to 2030. The Middle East and Africa (MEA) region are witnessing a gradual but significant adoption of Data Discovery tools, marking a shift towards data-centric decision-making in various industries. In the context of the diverse economic landscape in MEA, including sectors like oil and gas, healthcare, and telecommunications, organizations are increasingly recognizing the value of extracting actionable insights from their data. A closer look at segmentation patterns in MEA reveals sector-specific applications of Data Discovery. Oil and gas industries leverage these tools for operational optimization, while healthcare organizations enhance patient care through data-driven insights. Telecommunications sectors utilize Data Discovery for customer analytics, reflecting a diversified approach to harnessing the power of data across different industries. In conclusion, the Middle East and Africa region are poised for increased integration of Data Discovery tools as organizations recognize the strategic importance of data analytics. The ongoing adoption signifies a transformative shift towards a data-driven culture, fostering innovation and efficiency across various sectors.

Data Discovery Market Analysis

Data Discovery Component Segment Analysis

According to Cognitive Market Research, the dominant category is Solutions. As organizations increasingly prioritize data-driven decision-making, the demand for robust and feature-rich Data Discovery solutions has surged. These solutions encompass a wide array of features, including data visualization, predictive analytics, and intuitive user interfaces, empowering users to explore and derive actionable insights from their data. The dominant focus on Solutions underscores the pivotal role they play in shaping the landscape of the Data Discovery market, serving as the core technology that enables businesses to extract value from their data and drive informed decision-making processes.

The fastest-growing category within the Data Discovery market is Consulting. As businesses embark on their data discovery journeys, the need for expert guidance and strategic consulting services becomes paramount. Consulting services facilitate the effective implementation and optimization of Data Discovery solutions, ensuring alignment with organizational goals and industry best practices. The dynamic nature of the data landscape, coupled with evolving business requirements, fuels the rapid growth of consulting services.

• Solutions
• Services
• Support and Maintenance
• Deployment and Integration
• Consulting

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Data Discovery Industry. Request a Free Sample PDF!

Data Discovery Application Segment Analysis

According to Cognitive Market Research, the dominant category is Sales and Marketing Management. Organizations increasingly leverage data discovery tools to enhance their sales and marketing strategies. The ability to uncover actionable insights from customer data, market trends, and campaign performance empowers sales and marketing teams to make informed decisions, optimize their approaches, and drive business growth. As businesses prioritize customer-centric strategies, the dominance of Sales and Marketing Management within the Data Discovery market underscores the crucial role these tools play in shaping competitive and effective sales and marketing initiatives.

The fastest-growing category within the Data Discovery market is Security and Risk Management. With the rising importance of data security, compliance, and risk mitigation, organizations prioritize data discovery tools to identify and manage potential security threats and vulnerabilities. The ability to proactively discover and address security risks within vast datasets is crucial in today's dynamic business landscape.

• Security and Risk Management
• Sales and Marketing Management
• Asset Management
• Supply Chain Management
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Data Discovery Organization size Segment Analysis

According to Cognitive Market Research, Large Enterprises dominate as the primary category. Large organizations possess the resources and complexity in data infrastructure that necessitate sophisticated Data Discovery solutions. The expansive datasets, diverse data sources, and complex analytical requirements of large enterprises drive the demand for advanced data discovery tools. These solutions empower large enterprises to harness the full potential of their data, gaining deeper insights and supporting strategic decision-making.

The fastest-growing category within the Data Discovery market is Small and Medium-sized Enterprises (SMEs). As technology advances and becomes more accessible, SMEs are increasingly recognizing the importance of data-driven insights to remain competitive. The faster adoption rate among SMEs is fueled by the need for agile decision-making and a desire to uncover valuable insights from their data. Cloud-based and user-friendly Data Discovery solutions catered to the specific needs of SMEs contribute to the rapid growth of this category.

• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)

Data Discovery Deployment mode Segment Analysis

According to Cognitive Market Research, the dominant category is Cloud deployment. Cloud-based Data Discovery solutions have become increasingly prevalent due to their scalability, accessibility, and cost-effectiveness. Cloud deployment allows organizations to rapidly implement and scale data discovery tools without the need for extensive on-premises infrastructure. The flexibility and ease of collaboration offered by cloud solutions align with the dynamic nature of data discovery, making Cloud deployment the dominant category.

The fastest-growing category within the Data Discovery market is On-premises deployment. While Cloud solutions dominate, On-premises deployment experiences growth driven by specific industry requirements, data sensitivity concerns, and regulatory compliance. Certain organizations, particularly in regulated industries such as finance and healthcare, opt for On-premises deployment to have greater control over their data and ensure compliance with security standards.

• On-premises
• Cloud

Data Discovery Functionality Segment Analysis

According to Cognitive Market Research, the dominant category is Visual Data Discovery. Visual data discovery tools allow users to intuitively explore and analyze complex datasets through interactive visualizations, making it easier to identify patterns, trends, and insights. The human brain processes visual information more effectively, and organizations prioritize solutions that facilitate a user-friendly and visually engaging data exploration experience.

The fastest-growing category within the Data Discovery market is Augmented Data Discovery. Augmented data discovery integrates advanced analytics and machine learning capabilities into the data exploration process, automating insights and uncovering hidden patterns within the data. This category experiences rapid growth as organizations seek more intelligent and automated ways to derive insights from their data.

• Visual Data Discovery
• Augmented Data Discovery
• Search-based Data Discovery
• Self-service Data Preparation

Data Discovery Vertical Segment Analysis

According to Cognitive Market Research, the dominant category is BFSI. The financial industry places a paramount emphasis on data-driven decision-making to enhance risk management, customer experience, and operational efficiency. The BFSI sector deals with vast and intricate datasets, making robust Data Discovery solutions crucial for extracting meaningful insights. The dominance of BFSI in the Data Discovery market highlights the industry's strategic reliance on these tools to navigate complex regulatory landscapes, uncover hidden patterns in financial data, and adapt swiftly to market dynamics.

The fastest-growing category within the Data Discovery market is Healthcare and Life Sciences. The healthcare industry is undergoing a digital transformation, with an increasing focus on leveraging data to improve patient care, optimize operational processes, and advance medical research. The adoption of Data Discovery tools in healthcare facilitates the analysis of diverse healthcare data sources, leading to better clinical decision-making and personalized patient care.

• BFSI
• Government
• Healthcare and Life Sciences
• Retail
• Manufacturing
• Media and Entertainment
• Telecommunications and IT
• Transportation and Logistics
• Other Verticals

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

LinkedIn

Profile

Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion