Business Intelligence Hotspot For Data Catalog Adoption
Global data catalog market deals with organized database comprising of metadata containing database object definitions such as base tables, synonyms, views or synonyms and indexes. Global data catalog market is expected to rise with a CAGR of 25% during the forecast period 2019-2026. Data catalogs are widely used to access and analyze the required data sources. Data catalog offers several advantages such as robust search capabilities, enables verification of data sources, facilitates machine-human collaboration, provide “just-in-time” suggestions on the basis of behavior of other users, etc. Furthermore, data catalogs are of great significance to data engineers and scientists to build and maintain architecture and data storage, to implement access control, etc. Key trend positively influencing the growth of data catalog market is the increased adoption of data catalogs in business intelligence tools. Data catalog are widely adopted for self-service business intelligence. Increasing volume of big data generated every second has led to the increased demand for business intelligence solution. It also integrates analytical tools such as SAP, KXEN, SAS, Statistica, etc. with operational data in order to present complicated and critical data to the business professionals within the organization. In addition, increasing availability of data and rapidly changing business environment has led to surging demand for business intelligence solutions. Hence, enlarged adoption of data catalog in business intelligence is expected to positively influence the growth of global data catalog market during the forecast period. However, factors such as lack of standardization in enterprise data management are expected to hinder the market growth.
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Increased adoption of cloud widens horizon for market growth
Increasing adoption of cloud is the key factor driving the growth of the global data catalog market over the forecast period. Data catalog is widely used in cloud computing in order to ensure that data sets are tracked, are identifiable by business terms, governed and managed. Furthermore, data catalog is also used for the collaboration and centralized sharing of information in a known location, which would be accessible across the organization. Moreover, the increasing number of cloud applications, Internet of Things (IoT) connected devices and other digital devices such as smartphones, tablets, etc. have led to increased generation of cloud data. According to the AIS Electronic Library (AISeL) - Association for Information Systems (Georgia, United States), cloud computing is increasingly gaining popularity owing to its advantages such as offering cost reductions in enterprise infrastructure, high flexibility, etc. Cloud-based technology such as public cloud, private cloud, cloud as a service, etc. are widely being adopted among business organizations and end-users due to its dynamic scalability and virtualized resources through internet. Also, as per the Approval Payment Solutions (APS, United Kingdom), increasing need and demand of data that is being produced by the business organization increases deployment of cloud-based services and solutions. Such factors increase the demand and adoption of cloud-based services for the management of product information. In addition, capability of cloud to store a large amount of organization data has increased the demand as well as adoption of cloud-based platforms such as software as a service (SaaS) within an organization for increasing efficiency of the workflow with easy sharing of large amount of real time data. Hence, the increased adoption of cloud is expected to fuel the growth of global data catalog market over the forecast period 2019-2026.