The global metadata management tools market size is expected to reach USD 25.18 billion by 2029 according to a new study by Polaris Market Research. The report “Metadata Management Tools Market Share, Size, Trends, Industry Analysis Report, By Deployment Type (Cloud, On-Premises); By Business Function (Human Resource, Marketing & Sales, Finance, Operations, and Legal); By Application; By End-Use; By Region; Segment Forecast, 2021 - 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Key factors responsible for the industry growth for metadata management tools include increasing adoption of centralized services for data administration, governance, and concerned compliance administration systems. Operational excellence and data quality administration are notable factors that induce the industry towards a positive trajectory. Moreover, several enterprises have considerably adopted these tools, and the data processing tool supports the automatic creation of metadata.
Based on the business function segment, the finance segment is observing a leading share in the global market. This is due to the finance department's require to be effectively examined by managing precise business functioning and continuity. As a result, metadata administration tools and services play a prominent role in enhancing the general efficiency of an organization and reflect the highest during the forecast period. However, the finance segment is also projected to grow at the fastest CAGR during the forecast period.
North America is leading the market in metadata administration tools, owing to the rising government support to promote digitalization. In contrast, Asia Pacific is projected to register the highest CAGR over the assessment period due to the increasing penetration of digital solutions and services across industry verticals to improve customer engagement.
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Industry participants such as ASG Technologies, Adaptive, Collibra, Cambridge Semantics, Centricminds, Data Advantage Group, Microsoft, IBM, Informatica, Oracle, SAP SE, Global IDS, Topquadrant, Atlan, Erwin, Syniti, Infogix, Solidatus, Alation, and Alex Solutions are some of the key players operating in the global industry.
The key players are likely to emphasize developing their product line and expanding by acquiring business and technologies to mark their global footprint in the unreached industry. For instance, in August 2021, Collibra revealed the accessibility of the Collibra Data Intelligence Cloud in the Microsoft Azure Marketplace, an online store offering applications and services.
Polaris Market Research has segmented the metadata management tools market report on the basis of deployment type, application, business function, end-use, and region:
Metadata Management Tools, Deployment Type Outlook (Revenue - USD Million, 2017 - 2029)
Metadata Management Tools, Application Outlook (Revenue - USD Million, 2017 - 2029)
Metadata Management Tools, Business Function Outlook (Revenue - USD Million, 2017 - 2029)
Metadata Management Tools, End-Use Outlook (Revenue - USD Million, 2017 - 2029)
Metadata Management Tools, Regional Outlook (Revenue - USD Million, 2017 - 2029)