According to a new
market research report "Data Discovery Market by Type
(Software and Service), Service (Professional and Managed), Application
(Risk Management, Sales & Marketing Optimization, and Cost Optimization),
Deployment, Organization Size, Vertical, and Region - Global Forecast to
2021", published by MarketsandMarkets, the market size is estimated to
grow from USD 4.33 Billion in 2016 to USD 10.66 Billion by
2021, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast
period.
Browse 74 Market Data Tables and 52 Figures spread
through 150 Pages and in-depth TOC on "Data
Discovery Market"
http://www.marketsandmarkets.com/Market-Reports/data-discovery-market-132252132.html
Early buyers will receive 10% customization on this report.
Early buyers will receive 10% customization on this report.
The key forces driving
the Data Discovery Market include rising importance of insights generation from
multi-structured data.
Managed services in
the service segment is expected to grow at the highest CAGR during the forecast
period
Among services, the
managed service segment is expected to grow at a fast pace during the forecast
period. The demand for consulting services is witnessing the exponential
growth, mainly because almost every technological domain requires
well-delivered managed services. The services being offered must fit perfectly
into the client's environment. Technical expertise, service consistency, and
flexibility must be provided by the vendors, regardless of the geographical
location of the client. Managed services are considered crucial, as they are
directly related to customer experience. These services help them sustain their
positions in the market. Moreover, it has become difficult for companies to
focus on core business processes and support various other functions, in turn
increasing the significance of managed services.
Data discovery
software segment by type is expected to contribute the largest market share in
2016
Among types, the data
discovery software segment is expected to hold the largest market share in the
Data Discovery Market in 2016. Data discovery software ensures that the data
fits a particular user- specific task and is accurate & timely. Data
discovery software consists of software applications or platforms which can be
used to implement data discovery solutions. The data discovery vendors also
provide standalone software, which is a complete solution for analyzing and
acting on real-time business events. The software filters the aggregated and
enriched data, so that it can be analyzed to provide a high throughput from
multiple input data sources. Based on the data analyzed, organizations
could generate business related insights and plan the next steps accordingly,
as soon as the data arrives.
North America is
expected to contribute the largest market share, Asia-Pacific (APAC)
to grow the fastest
North America is
expected to hold the largest market share and dominate the Data Discovery
Market from 2016 to 2021, owing to large investments in cloud-based solutions,
early adoption of new & emerging technologies, and a large number of
players present in this region. The APAC region is in the initial growth phase;
however, it is expected to be the fastest growing region for the global Data
Discovery Market. The key reason for the high growth rate in APAC is the
growing demand for cost-effective data discovery platforms and tools among
Small & Medium Enterprises (SMEs) in this region.
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The major vendors
providing Data Discovery Market Are Tableau
Software (U.S.), Datawatch Corporation(U.S.), Datameer, Inc. (U.S.), TIBCO
Software, Inc. (U.S.), Oracle Corporation (U.S.), ClearStroy Data (U.S.), Qlik
Technologies Inc. (U.S.), SAP SE (Germany), and Platfora (U.S.).
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