Data has become more useful when metadata is available in an efficient manner. As soon as data is generated, metadata management tools follow a defined path – they create, manage, store, and publish metadata. Many firms utilize metadata management software, and data processing software to assist in the automatic generation of data. It basically explains when, how, and who created the data, as well as the format in which it is saved. The capacity of metadata management tools gives clarity and uniformity, which in turn fuels the growth of the worldwide metadata management tools market. The tool’s comprehensive data governance feature also supports the market’s expansion.
According to a facts and factors market research report, the global metadata management tools market is valued at around USD 5.29 Billion in 2020; and is expected to reach around USD 15.03 Billion by the end of 2026, increasing at a CAGR of around 19% from 2021 to 2026.
Rising consumer expectations of being able to access data or content from any location and on any device is propelling the metadata management tools market forward. Organizations will be able to organize their data and content, which will aid in the growth of the global metadata management tools market.
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Top Market Players
The key players in the global metadata management tools market are IBM, Microsoft, Oracle, SAP, ASG Technologies, Adaptive, Cambridge Semantics, CentricMinds, Collibra, Data Advantage Group, Informatica, GlobalIDS, TopQuadrant, Atlan, Erwin, Infogix, Syniti, Smartlogic, Solidatus, Alation, Alex Solutions, Magnitude Software, Immuta, Data. World and Zeenea, among others.
Increasing business data volume
Metadata has emerged as the fulcrum of data management, compliance, and business intelligence, owing to the explosive growth of organizational data, increasing legal challenges, and the desire to extract more value from data. Metadata organizes, classifies, and encodes data’s relevance, making it easier to find relevant data and its value. Metadata, on the other hand, necessitates the use of tools to create, maintain, and analyses data in order to extract value. Metadata management tools are essential to any data governance plan since they provide a number of essential benefits, including reduced costs associated with data administration, and improved data quality. Increases the ease with which specific data may be found and accessed. Data lineage and data heritage are better understood. IT productivity and data integration are both improved as a result of faster data integration. As a result, over the forecast period, the usage of such tools has gained popularity.
Browse Detail Report: Global Metadata Management Tools Market, 2021-2026
North America Region Dominates the Global Market
The North America region is dominating the market owing to the presence of a majority of vendors and enterprises with a significant client base. Moreover, the region has experienced widespread acceptance of cloud-based security solutions, particularly among large enterprises. During the projected period, APAC is expected to register the highest CAGR owing to the growing digitization and desire for centrally controlled systems, APAC is seeing a significant increase in the implementation of metadata management technologies. For instance, in January 2020, Collibra launched the Collibra Data Intelligence Cloud (CDIC), a platform that allows users to access reliable data. Collibra aids in the documentation of a company’s technical metadata. Furthermore, in July 2020, Informatica, a corporate cloud data management firm, announced its acquisition of Compact Solutions LLC which would help the Informatica Intelligent Data (IID) Platform expand metadata management. Certain initiatives undertaken by the players are expected to increase the market growth.