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Research details developments in the data discovery market worth 10.66 billion USD by 2021

In organizations, Small and Mid-Sized Businesses (SMBs) are expected to have the highest adoption rate of data discovery software, due to the availability of low cost cloud deployments options.

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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.

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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.

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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

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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.

The major vendors providing data discovery 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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