What is Global Data Discovery Platform Market?
The Global Data Discovery Platform Market is a rapidly expanding sector that focuses on the use of software to analyze and extract valuable insights from large volumes of data. This platform allows businesses to discover patterns, trends, and potential opportunities hidden within their data, which can be used to drive strategic decision-making and improve operational efficiency. The platform is designed to handle a wide range of data types, including structured and unstructured data, and can be used across various industries, such as retail, healthcare, finance, and more. The primary goal of a data discovery platform is to provide businesses with a comprehensive view of their data, enabling them to make informed decisions based on accurate and up-to-date information.
Cloud Based, On-Premise in the Global Data Discovery Platform Market:
The Global Data Discovery Platform Market is divided into two main segments: cloud-based and on-premise. Cloud-based platforms are hosted on the provider's servers and accessed through the internet, offering flexibility, scalability, and cost-effectiveness. They are ideal for businesses that need to access their data from multiple locations or have fluctuating data needs. On the other hand, on-premise platforms are installed on the user's own servers, offering greater control over data security and compliance. However, they require a significant upfront investment and ongoing maintenance. Both types have their own advantages and are chosen based on the specific needs and resources of the business.
Large Enterprises, SMEs in the Global Data Discovery Platform Market:
Large enterprises and SMEs (Small and Medium-sized Enterprises) are the primary users of the Global Data Discovery Platform Market. Large enterprises often have vast amounts of data spread across multiple systems and locations. A data discovery platform helps them consolidate this data and extract meaningful insights, driving strategic decision-making and improving operational efficiency. SMEs, on the other hand, may not have as much data, but they still need to make data-driven decisions to stay competitive. A data discovery platform provides them with an affordable and scalable solution to analyze their data and gain valuable insights.
Global Data Discovery Platform Market Outlook:
Looking at the market outlook, the Global Data Discovery Platform Market was valued at a substantial US$ 4985 million in 2023. The market is expected to grow significantly, reaching an estimated value of US$ 8707.1 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period from 2024 to 2030. This growth is driven by the increasing need for businesses to make data-driven decisions and the rising volume of data being generated.
| Report Metric | Details |
| Report Name | Data Discovery Platform Market |
| Accounted market size in 2023 | US$ 4985 million |
| Forecasted market size in 2030 | US$ 8707.1 million |
| CAGR | 8.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Wipro, Qlik, Dundas, IBM, Sisense, Board, Domo, Looker, Yellowfin, TIBCO Spotfire, Halo, InetSoft Style Intelligence, Infor, AnswerRocket, Corporater, Exago BI |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
