Data Discovery Market Size & Share Is Growing Globally By 2024

Global Data Discovery Market: Overview

 

The data discovery tools are supplementary to the business intelligence tools. It provides the users with the facility of building queries and finding solutions to these queries. The data discovery tools can handle the full range of use cases, that is, from the profiling of the data to data delivery and that too cost effectively and efficiently. The data discovery tools can be used to achieve predictive insights for the data.

 

Global Data Discovery Market: Segmentation

 

The market for data discovery is globally fragmented into its platform, deployment type, and vertical. Based on the platform, the global data discovery market is segregated into the web, desktop, and mobile. Depending on the deployment type, the global market is classified into on-premise and cloud. According to the vertical, the market is divided into the public sector, BFSI, telecom, retail, healthcare, education, energy, automobile, and others.

 

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Global Data Discovery Market: Growth Factors

 

Big data is the major factor that is driving the global data discovery market. In the recent years, the amount of data that is being generated is huge which cannot be handled by the conventional data discovery methods. Large amount of data is available in various formats, they should be efficiently processed so that valuable information is obtained with the help of data discovery tools. Another factor that increased the demand of the data discovery market is the increasing need for the real-time analytics. The recent trend that is dominating the market is the real-time analytics thus the need for the data discovery software tools has increased. The data discovery software tools are automated, faster, and adaptive.

 

The other major factor that is driving the data discovery market is the rise in the demand by the organizations to use agile business intelligence and agile analytics so as to turn the data into values. The BI teams and the data scientists often perform data discovery processes by implementing more iterative and agile methods. The factors that are limiting the growth of the data discovery market are some tools of data discovery consumes a lot of time, the tools are complicated, and are limited to applications.

 

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Global Data Discovery Market: Regional Analysis

 

Based on the regions, the market for data discovery is diversified into Asia Pacific, Eastern Europe, Western Europe, North America, Latin America, and the Middle East & Africa. The region that is dominating the data discovery market is the North America region. Factors that attribute to this dominance of the region include the increasing demand from the large-scale enterprises and the presence of the big data companies. North America is followed by Western Europe. The market in the Western Europe is expected to grow fast in the coming years. Asia Pacific region will also grow significantly in the future.

 

Global Data Discovery Market: Competitive Players

 

The key market players that are involved in the data discovery market include Tableau Software, Alteryx, Inc., Logi Analytics, TIBCO Software Inc., Pentaho Corporation, QlikTech International AB, Microsoft Corporation, MicroStrategy Inc., ClearStory Data, SAS Institute Inc., and others.

 

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