Global Data Discovery Market is expected to reach US$ 14.78 Bn by 2026 from US$ XX Bn in 2019 at a CAGR of XX % (Detailed analysis of the market CAGR is provided in the report).
Global Data Discovery MarketThe report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

The report of data discovery market based on type, application, deployment model, organization size, industry vertical, and region. In terms of type, the data discovery market is classified into software and services. Based on application, the data discovery market is categorized into risk management, social network analysis, customer experience management, cost optimization, sales and marketing optimization, asset management, and others.

On the basis of deployment model, the data discovery market is classified into on-premises and hosted. In terms of organization size, the data discovery market is categorized into small and mid-sized businesses (SMBs) and large enterprises. Based on industry vertical, the data discovery market is segregated into banking, financial services, and insurance (BFSI), retail and ecommerce, telecommunications and IT, healthcare and life sciences, government and defense, transportation and logistics, manufacturing, energy and utilities, media and entertainment, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The major driver for the global data discovery market is big data. The large amount of data that exists in different formats must be processed efficiently for gaining valuable insights by using advanced data discovery software tools. The other driver which drives the market for global data discovery market is the need for Real-time analytics. The rise in demand for organisations to use agile analytics and agile business intelligence (BI) in order to turn data into value is also a major driver for data discovery market. The major challenge for the data discovery market was some of the data discovery tools are time-consuming to set up and were limited in applications. Some data discovery tools are also harder to use than estimated.

Based on type, software segment is expected to hold the largest market share in the data discovery market in 2017. Data discovery software ensures that the data fits a particular user- specific task and is accurate & timely. Based on on-premises deployment model has a higher adoption. This is due to its confidentiality and privacy parameters to the organizational data. The Baking, Financial Services, & Insurance (BFSI) segment hold largest market share in vertical segment. It helps to recognise potential customer segments, trap them with effective offers, and come up with the most effective investment plan. Based on organization size, the Small and Mid-Sized Businesses (SMBs) are expected to grow at a high CAGR during the forecast period. This is due to the highest adoption of data discovery software by SMBs owing to the growing volume of data.

Geographically, the Global Data Discovery Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to be largest market for data discovery during the forecast period. Asia Pacific is projected to grow at a high CAGR during the forecast period. The key reason for the high growth rate in Asia Pacific is the growing demand for cost-effective data discovery platforms and tools among Small & Medium Enterprises (SMEs) in this region.