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The global data discovery 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%.
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The key players in the Data Discovery Market include – Tableau Software (U.S.), Datameer, Inc. (U.S.), Cloudera, Inc. (U.S.), TIBCO Software, Inc.
(U.S.), Birst, Inc. (U.S.) Datawatch Corporation (U.S.) Qlik Technologies Inc.(U.S.), SAP SE (Germany) ClearStory Data (U.S.) Platfora (U.S.) Oracle Corporation (U.S.), MicroStrategy, Inc.
The report segments the data discovery market on the basis of type, which includes software &services and on the basis of services, such as managed services and professional services. Under professional services, the report is further segmented into support &maintenance and consulting services, under deployment models, it is segmented into hosted and on-premises, and under verticals, it includes Banking, Financial Services, & Insurance (BFSI), government, healthcare, retail & e-commerce, manufacturing, energy & utilities, transportation, IT & telecommunications, and others(real estate, travel & hospitality, and research)in the regions of North America, Europe, APAC, Middle East &Africa (MEA), and Latin America.
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The global data discovery 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%. There is increase in data traffic due to the exponential growth of big data, resulting in exponential growth of big data and Business Intelligence (BI) technologies.
Hence, there is a huge demand for data discovery software &services to analyze the data and get actionable insights.
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The data discovery market by software type is estimated to grow with the largest market share during the forecast period. Data discovery software is being used in various verticals and have various applications.
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.
Data discovery software is also being used for asset & liability management, budgetary control management, general ledger management, payables & receivables management, and profitability management.
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