Metadata Management Tools Market worth $15.1 billion by 2026, growing at a CAGR of 19.0% Report by MarketsandMarkets™

Chicago, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The Metadata Management Tools Market size is projected to grow from USD 6.3 billion in 2021 to 15.1 USD billion in 2026, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period, according to a new report by MarketsandMarkets™.

The major factors driving the growth of the metadata management tools market are the growing importance of centralized data management, the rising importance of metadata management in data security, and the increasing need for higher data quality and trusted analytics. 

Browse in-depth TOC on "Metadata Management Tools Market"

352 - Tables
52 - Figures
312 - Pages

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Scope of the Report

                  
  
Metadata management is an informative framework and oversight of data that provides reference and context to data, content, business processes, business policies, and business rules, supporting an organization’s information system to ensure the information can be integrated, accessed, shared, linked, and analyzed for data-based decision-making. It gives the company’s data a frame of reference. The detailed information about the data is called metadata in the system. There are several tools used to manage the metadata and make the information readily available to users. These metadata management tools help know the data well and manage them according to the users’ needs. Data analysis, data management, and data governance can be done easily with tools as they manage better than humans. Tools are used to know the data well and use them when they are asked for. Various rules are incorporated while using these tools. 

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The metadata management tools market has been segmented by component into tools and services. The services segment comprises managed services and professional services. Professional services are further segmented into consulting, deployment and integration, and support and maintenance services. The application segment is divided into data governance, risk and compliance management, product and process management, incident management, and other applications (operations management, and employee performance data management). Functions included in the report are human resource, marketing and sales, finance, operations, and legal. The metadata management tools market has been segmented by metadata type into business metadata, technical metadata, and operational metadata. Based on deployment modes, the market is classified into on-premises and cloud. The metadata management tools market by organization size is bifurcated into Small and Medium-sized Enterprises (SMEs) and large enterprises. Verticals in the report include Banking, Financial Services, and Insurance (BFSI); telecommunication and IT; Retail and Consumer Goods; healthcare and life sciences; manufacturing; government and defense; energy and utilities; media and entertainment; and other verticals (travel and hospitality, education, and media and entertainment). The regional analysis of the metadata management tools market covers North America, Europe, APAC, MEA and Latin America.      
      
Among the component segment, the service segment in the metadata management tools market is expected to witness the highest CAGR during the forecast period. Services are inclusive of managed services and professional services. Professional services are further segmented into consulting, support and maintenance, and deployment and integration. The amount of data that needs to be analyzed is seen to be increasing day by day due to the increasing number of data sources from where the data is generated. In such cases, the adoption of data analysis tools, including metadata, has become essential to govern the data, its sources, and data access. 
                 
Among metadata type, the business metadata type segment is estimated to grow with the highest CAGR during the forecast period. Business metadata assists companies in creating business glossaries, stewards, taxonomies, and providing a graphical representation of the subject matter and categories. 
      
Among application, the risk and compliance management segment is estimated to account for the largest market during the forecast period.  Organizations use risk management applications to enhance their risk intelligence capabilities and address risk exposures. 

Among business function, the finance segment is estimated to account for the largest market during the forecast period. For the finance department of an organization, metadata management tools and services play a vital role in improving the overall efficiency of an organization and reflect the highest during the forecast period 
Among the organization size, the large enterprises is projected to dominate the market, while the SME’s segment is projected to record a higher growth rate during the forecast period. The growth of large enterprises can be attributed to the large volumes of data being generated by large enterprises, creating opportunities for cross-selling and up-selling of software to prospective customers. 

Among deployment mode, the cloud segment is estimated to grow with the highest CAGR during the forecast period. The cloud deployment mode is estimated to hold a larger market share in 2021, and the trend is expected to continue throughout the forecast period. Businesses are inclined toward the adoption of cloud-based metadata management tools as they are increasingly migrating to the cloud to store their data. The cloud deployment mode is more preferred among organizations due to its availability, scalability, and flexibility of offering benefits from real-time metadata management. 

Among vertical, the healthcare & life sciences vertical is expected to grow at the highest CAGR during the forecast period.  With the growing importance of data-driven solutions and decisions, the adoption of metadata management tools has witnessed an uplift in the healthcare and life sciences vertical. 

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The metadata management tools market is studied across five major regions: North America, Europe, MEA, APAC, and Latin America. North America is estimated to account for the largest market share during the forecast period. In North America, data management and data governance solutions are considered highly effective by most organizations and verticals. On the other hand, Europe is gradually incorporating these advanced solutions within its enterprises. APAC is witnessing a substantial rise in the adoption of metadata management tools owing to the increasing digitalization and rising demand for centrally managed systems. 

Top Trends in Global Metadata Management Tools Market

• Adoption of Cloud-Based Solutions: In 2021, the transition to cloud-based metadata management systems accelerated. Due to its scalability, affordability, and accessibility from anywhere, cloud-based solutions are becoming more and more popular among businesses. 
• Focus on Data Governance and Compliance: Metadata management technologies have been improved to provide greater data governance capabilities in response to increased data privacy concerns and stronger legislation. Organisations may monitor and regulate how data is used with the help of these technologies, ensuring that data protection regulations are being followed.
• Integration with AI and Machine Learning: Solution providers for metadata management were rapidly integrating artificial intelligence (AI) and machine learning (ML). These technologies aided in task automation, enhanced data finding techniques, and improved data classification.
• Data Quality and Lineage Management: For organisations to be able to trust their data, maintaining data quality and lineage has become essential. Tools for managing metadata have developed to offer more thorough data lineage capabilities that let users track the origins and transformations of data.
• Self-Service Metadata Management: More flexibility over metadata handling procedures was requested by users. Modern metadata solutions have evolved to include self-service functions like data finding, tagging, and profiling as standard components.

Key Industry Development

• Increased Adoption of AI and Automation: Artificial intelligence and automation have been used by metadata management technologies to speed up procedures including information extraction, classification, and data lineage mapping. AI-driven solutions increased data accuracy and decreased manual labour required to manage metadata.
• Data Governance and Compliance Emphasis: Data quality, security, and regulatory compliance capabilities were added to metadata management tool solutions by vendors in response to the growing relevance of data governance and compliance. Controls over data access, audit trails, and support for various data protection laws were all part of this. 
• Cloud-Based Solutions Dominance: Because of their scalability, versatility, and affordability, cloud-based metadata management technologies have seen tremendous growth in popularity. In order to satisfy their changing data management needs, several businesses opted cloud deployment over on-premises solutions.
• Integration with Data Catalogs: Data catalogues and metadata management technologies are increasingly being integrated. By serving as a centralised store for metadata, data catalogues facilitate users' discovery and access to pertinent data assets.
• Rise of Self-Service Metadata Management: In order to allow business users and data stakeholders to contribute to and access metadata without heavily relying on IT or technical teams, self-service capabilities were added to metadata management solutions.

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