HOME Top Market Reports Data Governance Market by Application (Incident Management, Process Management, Compliance Management, Risk Management), Business Function, Component, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023

Data Governance Market by Application (Incident Management, Process Management, Compliance Management, Risk Management), Business Function, Component, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: April 2018
Report Code: TC 4995

 

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The data governance market was valued at USD 1.10 Billion in 2017 and is expected to reach USD 3.53 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. The major factors that are expected to drive the growth of the market include the rapidly increasing growth in data volumes, rising regulatory and compliance mandates, and enhancing strategic risk management and decision-making with the increasing business collaborations. The base year considered for this report is 2017 and the market forecast period is 2018–2023.

Objectives of the Study

The main objective of the report is to define, describe, and forecast the global data governance market on the basis of applications, business functions, components, organization size, deployment models, industry verticals, and regions. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report aims to strategically analyze the micro-markets with respect to the individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements, mergers and acquisitions, new product launches and new product developments, and Research and Development (R&D) activities, in the data governance market.

Research Methodology

The research methodology used to estimate and forecast the data governance market began with capturing data on key vendors’ revenues through secondary research that included directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). The vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market that was derived from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary participants is depicted in the figure below:

Data Governance Market

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The data governance ecosystem comprises vendors, such as Alation (US), Ataccama (Canada), Collibra (Belgium), DATUM LLC (US), Data Advantage Group (US), Denodo Technologies (US), erwin, Inc. (US), Global Data Excellence (Switzerland), Global IDs (US), IBM Corporation (US), Infogix (US), Informatica LLC (US), Information Builders (US), IRI (Australia), Magnitude Software (US), Oracle Corporation (US), Orchestra Networks (France), Reltio (US),  SAP SE (Germany), SAS Institute (US), Syncsort (US), Talend (US), TIBCO Software (US), TopQuadrant (US), and Varonis Systems (US).

The other stakeholders of the data governance market include data management providers, research organizations, network and system integrators, data governance service providers, marketing analytics executives, third-party service providers, and technology providers.

Data governance key target audience

  • Service providers and distributors
  • Data governance application builders
  • Customer experience management professionals
  • Independent Software Vendors (ISVs)
  • Analytics consulting companies
  • Enterprises
  • End-users

“The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 2–5 years for prioritizing efforts and investments.”

Scope of the Report

The research report categorizes the data governance market to forecast the revenues and analyze the trends in each of the following subsegments:

By Application

  • Incident management
  • Process management
  • Compliance management
  • Risk management
  • Audit management
  • Data quality and security management
  • Others (Network management and Employee performance management)

By Business Function

  • Finance
  • Information technology (IT)
  • Legal
  • Operations
  • Human resources
  • Sales and marketing

By Component

  • Solutions
  • Services
    • Managed services
    • Professional services
      • Consulting services
      • Support and maintenance services

By Organization Size

  • Small and Medium-Sized Enterprises (SMEs)
  • Large enterprises

By Deployment Model

  • On-premises
  • Cloud

By Industry Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Retail and eCommerce
  • Government and defense
  • Healthcare and life sciences
  • Manufacturing
  • Telecommunications and IT
  • Energy and utilities
  • Construction and engineering
  • Others (Research, Education, Travel and hospitality, and Real estate)

By Region

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American data governance market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the Latin American market
  • Further breakdown of the MEA market

Company Information

  • Detailed analysis and profiling of additional market players upto 5.

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Opportunities in the Data Governance Market
    4.2 Market Share, By Region
    4.3 Life Cycle Analysis, By Region, 2018

5 Market Overview and Industry Trends (Page No. - 38)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rapid Growth in Data Volumes
                    5.2.1.2 Regulatory and Compliance Mandates
                    5.2.1.3 Enhancing Strategic Risk Management and Decision-Making With Increasing Business Collaborations
           5.2.2 Restraints
                    5.2.2.1 The Ever-Changing Regulatory Framework
           5.2.3 Opportunities
                    5.2.3.1 Effective Data Governance Would Provide A Leading Competitive Edge
                    5.2.3.2 Growing Applications of AI in Data Governance
           5.2.4 Challenges
                    5.2.4.1 Higher Investment to Procure Sophisticated Data Governance Solutions
                    5.2.4.2 Complexities Related to Governing Security Across Byod and Cloud Platforms
    5.3 Industry Trends
           5.3.1 Data Governance Process
                    5.3.1.1 Identify the Business Areas That Need Improvement
                    5.3.1.2 Improve the Reach of Information
                    5.3.1.3 Define Rules, Responsibilities, and Roles Across the Organization
                    5.3.1.4 Enhance the Integrity of Information Assets
                    5.3.1.5 Develop the Master Data and Accountability Structure
                    5.3.1.6 Establish A Feedback Mechanism
           5.3.2 Use Cases
                    5.3.2.1 Introduction
                    5.3.2.2 Use Case 1: Leading Healthcare Organization Needed A Data Governance Solution to Provide Data Access to Users
                    5.3.2.3 Use Case 2: Leading Financial Services Organization Needed Solution to Perform Risk and Policy Management
                    5.3.2.4 Use Case 3: Leading Retailer Streamlined Data Management With Data Stewardship
                    5.3.2.5 Use Case 4: Data Governance Solution to Improve Customer Service and Reduce Operation Costs
                    5.3.2.6 Use Case 5: Financial Firm Streamlined Data Governance Practices With Metadata Management
           5.3.3 Regulations for Data Governance Industry
                    5.3.3.1 Health Insurance Portability and Accountability Act (HIPAA) of 1996
                    5.3.3.2 Health Information Technology for Economic and Clinical Health (Hitech) Act
                    5.3.3.3 Sarbanes–Oxley Act of 2002 (SOX)
                    5.3.3.4 European Market Infrastructure Regulation (EMIR)
                    5.3.3.5 Eu General Data Protection Regulation (GDPR)

6 Data Governance Market, By Application (Page No. - 49)
    6.1 Introduction
    6.2 Incident Management
    6.3 Process Management
    6.4 Compliance Management
    6.5 Risk Management
    6.6 Audit Management
    6.7 Data Quality and Security Management
    6.8 Others

7 Data Governance Market, By Business Function (Page No. - 57)
    7.1 Introduction
    7.2 Finance
    7.3 Information Technology
    7.4 Legal
    7.5 Operations
    7.6 Human Resources
    7.7 Sales and Marketing

8 Market By Component (Page No. - 63)
    8.1 Introduction
    8.2 Solution
    8.3 Services
           8.3.1 Managed Services
           8.3.2 Professional Services
                    8.3.2.1 Consulting Services
                    8.3.2.2 Support and Maintenance Services

9 Market By Deployment Model (Page No. - 71)
    9.1 Introduction
    9.2 On-Premises
    9.3 Cloud

10 Data Governance Market, By Organization Size (Page No. - 75)
     10.1 Introduction
     10.2 Small and Medium-Sized Enterprises
     10.3 Large Enterprises

11 Data Governance Market, By Industry Vertical (Page No. - 79)
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance
     11.3 Retail and Ecommerce
     11.4 Government and Defense
     11.5 Healthcare and Life Sciences
     11.6 Manufacturing
     11.7 Telecommunications and IT 
     11.8 Energy and Utilities
     11.9 Construction and Engineering
     11.10 Others

12 Data Governance Market, By Region (Page No. - 89)
     12.1 Introduction
     12.2 North America
     12.3 Europe
     12.4 APAC
     12.5 Latin America
     12.6 Middle East and Africa

13 Competitive Landscape (Page No. - 114)
     13.1 Overview
     13.2 Prominent Players in the Market
     13.3 Competitive Scenario
             13.3.1 New Product Launches and Product Upgradations
             13.3.2 Partnerships and Collaborations
             13.3.3 Business Expansions
             13.3.4 Acquisitions

14 Company Profiles (Page No. - 120)
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
     14.1 Introduction
     14.2 IBM
     14.3 Oracle
     14.4 SAP
     14.5 SAS Institute
     14.6 Collibra
     14.7 Informatica
     14.8 Talend
     14.9 Topquadrant
     14.10 Information Builders
     14.11 Alation
     14.12 Tibco
     14.13 Varonis
     14.14 Orchestra Networks
     14.15 Datum LLC
     14.16 Erwin, Inc.
     14.17 Data Advantage Group
     14.18 Syncsort
     14.19 Infogix
     14.20 Magnitude Software
     14.21 Ataccama
     14.22 Reltio
     14.23 Global Data Excellence
     14.24 Global IDS
     14.25 Innovative Routines International
     14.26 Denodo

*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 171)
     15.1 Key Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Introducing RT: Real-Time Market Intelligence
     15.5 Available Customization
     15.6 Related Reports
     15.7 Author Details


List of Tables (87 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2017
Table 2 Data Governance Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 3 Market Size By Application, 2016–2023 (USD Million)
Table 4 Incident Management: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Process Management: Market Size, By Region, 2016–2023 (USD Million)
Table 6 Compliance Management: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Risk Management: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Audit Management: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Data Quality and Security Management: Market Size, By Region, 2016–2023 (USD Million)
Table 10 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Data Governance Market Size, By Business Function, 2016–2023 (USD Million)
Table 12 Finance: Market Size, By Region, 2016–2023 (USD Million)
Table 13 Information Technology: Market Size, By Region, 2016–2023 (USD Million)
Table 14 Legal: Market Size, By Region, 2016–2023 (USD Million)
Table 15 Operations: Market Size, By Region, 2016–2023 (USD Million)
Table 16 Human Resources: Market Size, By Region, 2016–2023 (USD Million)
Table 17 Sales and Marketing: Market Size, By Region, 2016–2023 (USD Million)
Table 18 Data Governance Market Size, By Component, 2016-2023 (USD Million)
Table 19 Solution: Market Size, By Region, 2016–2023 (USD Million)
Table 20 Services: Market Size, By Region, 2016-2023 (USD Million)
Table 21 Services: Market Size, By Type, 2016-2023 (USD Million)
Table 22 Managed Services Market Size, By Region, 2016-2023 (USD Million)
Table 23 Professional Services Market Size, By Region, 2016–2023 (USD Million)
Table 24 Professional Services Market Size, By Type, 2016–2023 (USD Million)
Table 25 Consulting Services Market Size, By Region, 2016–2023 (USD Million)
Table 26 Support and Maintenance Services Market Size, By Region, 2016–2023 (USD Million)
Table 27 Data Governance Market Size, By Deployment Model, 2016–2023 (USD Million)
Table 28 On-Premises: Market Size, By Region, 2016–2023 (USD Million)
Table 29 Cloud: Market Size, By Region, 2016–2023 (USD Million)
Table 30 Data Governance Market Size, By Organization Model, 2016–2023 (USD Million)
Table 31 Small and Medium-Sized Enterprises: Market Size, By Region, 2016–2023 (USD Million)
Table 32 Large Enterprises: Market Size, By Region, 2016–2023 (USD Million)
Table 33 Data Governance Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 34 Banking, Financial Services, and Insurance: Market Size, By Region, 2016–2023 (USD Million)
Table 35 Retail and Ecommerce: Market Size, By Region, 2016–2023 (USD Million)
Table 36 Government and Defense: Market Size, By Region, 2016–2023 (USD Million)
Table 37 Healthcare and Life Sciences: Market Size, By Region, 2016–2023 (USD Million)
Table 38 Manufacturing: Market Size, By Region, 2016–2023 (USD Million)
Table 39 Telecommunications and It: Market Size, By Region, 2016–2023 (USD Million)
Table 40 Energy and Utilities: Market Size, By Region, 2016–2023 (USD Million)
Table 41 Construction and Engineering: Market Size, By Region, 2016–2023 (USD Million)
Table 42 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 43 Data Governance Market Size, By Region, 2016–2023 (USD Million)
Table 44 North America: Market Size By Component, 2018–2023 (USD Million)
Table 45 North America: Market Size By Service, 2018–2023 (USD Million)
Table 46 North America: Market Size By Professional Service, 2018–2023 (USD Million)
Table 47 North America: Market Size By Application, 2018–2023 (USD Million)
Table 48 North America: Market Size By Business Function, 2018–2023 (USD Million)
Table 49 North America: Market Size By Deployment Model, 2018–2023 (USD Million)
Table 50 North America: Market Size By Organization Size, 2018–2023 (USD Million)
Table 51 North America: Market Size By Industry Vertical, 2018–2023 (USD Million)
Table 52 Europe: Data Governance Market Size, By Component, 2018–2023 (USD Million)
Table 53 Europe: Market Size By Service, 2018–2023 (USD Million)
Table 54 Europe: Market Size By Professional Service, 2018–2023 (USD Million)
Table 55 Europe: Market Size By Application, 2018–2023 (USD Million)
Table 56 Europe: Market Size By Business Function, 2018–2023 (USD Million)
Table 57 Europe: Market Size By Deployment Model, 2018–2023 (USD Million)
Table 58 Europe: Market Size By Organization Size, 2018–2023 (USD Million)
Table 59 Europe: Market Size By Industry Vertical, 2018–2023 (USD Million)
Table 60 Asia Pacific: Data Governance Market Size, By Component, 2018–2023 (USD Million)
Table 61 Asia Pacific: Market Size By Service, 2018–2023 (USD Million)
Table 62 Asia Pacific: Market Size By Professional Service, 2018–2023 (USD Million)
Table 63 Asia Pacific: Market Size By Application, 2018–2023 (USD Million)
Table 64 Asia Pacific: Market Size By Business Function, 2018–2023 (USD Million)
Table 65 Asia Pacific: Market Size By Deployment Model, 2018–2023 (USD Million)
Table 66 Asia Pacific: Market Size By Organization Size, 2018–2023 (USD Million)
Table 67 Asia Pacific: Market Size By Industry Vertical, 2018–2023 (USD Million)
Table 68 Latin America: Data Governance Market Size, By Component, 2018–2023 (USD Million)
Table 69 Latin America: Market Size By Service, 2018–2023 (USD Million)
Table 70 Latin America: Market Size By Professional Service, 2018–2023 (USD Million)
Table 71 Latin America: Market Size By Application, 2018–2023 (USD Million)
Table 72 Latin America: Market Size By Business Function, 2018–2023 (USD Million)
Table 73 Latin America: Market Size By Deployment Model, 2018–2023 (USD Million)
Table 74 Latin America: Market Size By Organization Size, 2018–2023 (USD Million)
Table 75 Latin America: Market Size By Industry Vertical, 2018–2023 (USD Million)
Table 76 Middle East and Africa: Data Governance Market Size, By Component, 2018–2023 (USD Million)
Table 77 Middle East and Africa: Market Size By Service, 2018–2023 (USD Million)
Table 78 Middle East and Africa: Market Size By Professional Service, 2018–2023 (USD Million)
Table 79 Middle East and Africa: Market Size By Application, 2018–2023 (USD Million)
Table 80 Middle East and Africa: Market Size By Business Function, 2018–2023 (USD Million)
Table 81 Middle East and Africa: Market Size By Deployment Model, 2018–2023 (USD Million)
Table 82 Middle East and Africa: Market Size By Organization Size, 2018–2023 (USD Million)
Table 83 Middle East and Africa: Market Size By Industry Vertical, 2018–2023 (USD Million)
Table 84 New Product Launches and Product Upgradations, 2014-2018
Table 85 Partnerships and Collaborations, 2014–2018
Table 86 Business Expansions, 2014–2018
Table 87 Acquisitions, 2014–2018


List of Figures (47 Figures)

Figure 1 Data Governance Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Governance Market: Assumptions
Figure 8 Data Governance Functions
Figure 9 Global Data Governance Market is Expected to Witness Significant Growth During the Forecast Period
Figure 10 Market Snapshot By Component (2018 vs 2023)
Figure 11 Market Snapshot By Service (2018)
Figure 12 Market Snapshot By Application (2018 vs 2023)
Figure 13 Market Snapshot By Deployment Model (2018)
Figure 14 Market Snapshot By Industry Vertical (2018–2023)
Figure 15 The Data Governance Market Growth is Driven By the Rapid Increase in Data Volumes and Stringent Regulatory and Compliance Mandates
Figure 16 North America is Estimated to Have the Largest Market Share in 2018
Figure 17 Asia Pacific is Expected to Register Significant Growth During the Forecast Period
Figure 18 Data Governance Market: Drivers, Restraints, Opportunities and Challenges
Figure 19 Major Factors in Big Data Governance
Figure 20 Data Governance Process
Figure 21 Compliance Management Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Information Technology Business Function is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 24 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 25 Consulting Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 26 Cloud Deployment Model is Expected to Register A Higher CAGR During the Forecast Period
Figure 27 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 28 Retail and Ecommerce Industry Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 29 North America is Expected to Have the Largest Market Size During the Forecast Period
Figure 30 Asia Pacific is Expected to Register the Fastest Growth Rate in the Data Governance Market During the Forecast Period
Figure 31 North America: Market Snapshot
Figure 32 Asia Pacific: Market Snapshot
Figure 33 Key Developments By the Leading Players in the Data Governance Market, 2014–2018
Figure 34 Market Evaluation Framework
Figure 35 Geographic Revenue Mix of the Top 4 Market Players
Figure 36 IBM: Company Snapshot
Figure 37 IBM: SWOT Analysis
Figure 38 Oracle: Company Snapshot
Figure 39 Oracle: SWOT Analysis
Figure 40 SAP: Company Snapshot
Figure 41 SAP: SWOT Analysis
Figure 42 SAS Institute: Company Snapshot
Figure 43 SAS Institute: SWOT Analysis
Figure 44 Collibra: SWOT Analysis
Figure 45 Informatica: SWOT Analysis
Figure 46 Talend: Company Snapshot
Figure 47 Varonis: Company Snapshot

The data governance market is expected to grow from USD 1.31 Billion in 2018 to USD 3.53 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. Factors such as the rapidly increasing growth in data volumes, rising regulatory and compliance mandates, and enhancing strategic risk management and decision-making with the increasing business collaborations are expected to drive the growth of the global market.

The report provides detailed insights into the global data governance market that has been segmented by application, business function, component, organization size, deployment model, industry vertical, and region. Among applications, the risk management application segment would continue to dominate the market during the forecast period, as financial institutions grapple with multiple compliance reporting requirements, such as Foreign Account Tax Compliance Act (FATCA) and Firm Data Submission Framework (FDSF), which increase the importance of the risk management application in organizations. The compliance management application segment is expected to grow at the fastest rate during the forecast period.

The retail and eCommerce industry vertical is expected to grow at the highest CAGR during the forecast period. Data governance solutions can be used by the retail and eCommerce industry vertical to handle large volumes of data generated across the vertical. In addition to this, high-quality, properly managed data is crucial for decision-making across organizations, therefore data governance solutions in this industry vertical help decision makers with product pricing, campaign management, sales optimization, risk management, and product management.

Large enterprises are expected to dominate the market in terms of market share, as these enterprises are continuously investing in their R&D activities to improve overall performance and provide customer satisfaction. However, the Small and Medium-Sized Enterprises (SMEs) segment is expected to exhibit a higher CAGR, owing to the availability of cloud-based data governance solutions at an effective cost. In addition to this, data governance solutions providers minimize infrastructure development costs for such applications.

Data Governance Market

The report covers all the major aspects of the data governance market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to dominate the data governance market throughout the forecast period, due to the early adoption of technologies and the presence of a large number of data governance solution providers. Asia Pacific (APAC) is estimated to grow at the highest CAGR during the forecast period. The increasing digitalization and investment in infrastructure upgrades have resulted in the higher adoption of data governance and data management solutions. The region is witnessing the increasing demand for cloud-based solutions, owing to the growing size of SMEs. Companies operating in this region provide different solutions based on organization size and their requirements.

Factors such as rapid growth in data volumes, regulatory and compliance mandates, and the enhancing strategic risk management and decision-making with increasing business collaborations are expected to drive the growth of the global data governance market. Moreover, the increasing applications of Artificial Intelligence (AI) and the growing importance of effective data governance would help the key players gain a competitive edge in the overall market.

The global data governance market has been fragmented and no single vendor dominates the market. Vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, product upgradations, partnerships and collaborations, and acquisitions, and business expansions, to expand their offerings and enhance customer experience in the market.

For instance, in June 2017, IBM announced new data governance solutions and tools, machine learning advancements, and the formation of the Open Data Governance Consortium for Apache Atlas dedicated to advancing the open framework for data governance. These new solutions and services would enable organizations to gain the deeper understanding of data and control it. They would also help them adhere to the General Data Protection Regulation (GDPR) and other strict data regulations. In June 2017, Collibra introduced the new 5.1 version of the Collibra data governance platform that facilitates enterprises to perform self-service analytics. This solution also facilitates massive shift to self-service business intelligence for enterprises.

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