Data Governance Market Value Could Exceed $5 Billion By 2025

PALM BEACH, Fla., Jan. 21, 2021 /PRNewswire/ -- In spite of the recent global pandemic, the global data governance market has been growing and is expected to continue for years to come. Data governance is a set of processes that ensures the systematic management and protection of important and critical data throughout the organization. It ensures trusted information is used for accounting, decision-making, and other critical business processes. With the advent of several data regulations by governments, it has become more critical than ever to ensure data within an organization is stored, used, and discarded appropriately. Organizations wish to achieve data regulation compliance to observe international and national laws and standards, along with industry-specific regulatory data requirements. Several US states are developing legislation and passing laws about data privacy that are similar to the General Data Protection Regulation (GDPR). Data governance solutions enable business users across verticals to efficiently and effectively monitor, manage, and control data movement across organizations. The increased use of mobile devices among individuals within an organization and the easy availability and ubiquitous accessibility of data have enabled organizations and individuals to adopt data governance solutions.  Active Companies from around the market with recent developments this week include:  Data443 Risk Mitigation, Inc. (OTCPK: ATDS), Snowflake Inc. (NYSE: SNOW), Oracle Corporation (NYSE: ORCL), Cloudera, Inc. (NYSE: CLDR), Palantir Technologies Inc. (NYSE: PLTR).

The data governance market is expected to grow from USD 2.1 billion in 2020 to USD 5.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period, according to a report from MarketsAndMarkets. 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 data governance market.  The report said: "COVID-19 would have an impact on all the elements of the technology sector. The global ICT spending is estimated to decline by 4–5% by the end of 2020. The hardware business is predicted to have the most impact on the IT industry. Due to the slowdown of hardware supply and reduced manufacturing capacity, the IT infrastructure growth has slowed down. The businesses providing solutions and services are also expected to slow down for a short span of time. However, the adoption of collaborative applications, analytics, security solutions, and AI is set to increase in the remaining part of the year. Many of the significant COVID-19 initiatives involve sensitive data, from patient data to personal banking data. There are great risks to data security posed by the swift influx of these new data sources into a company's data ecosystem."

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) BREAKING NEWS:  DATA443 PARTNERS WITH LEADING CLOUD DATAWAREHOUSE PROVIDER ACTIAN CORPORATION  - Data443 Risk Mitigation, the leading data security and privacy software company for ALL THINGS DATA SECURITY™, is pleased to announce a new collaboration with the performance leader in the cloud data warehouse market – Actian Corporation.

Actian, the hybrid data management, analytics and integration company, delivers data as a competitive advantage to forward-thinking organizations around the globe that trust Actian to help them solve their toughest data challenges and transform their data into real-time business insights. With over 3,000 clients managing business critical customer data, the demand for sophisticated capabilities in data classification and data security are increasingly becoming a standard requirement for cloud or hybrid deployments.

Data443, anchored by the leading the ClassiDocs™ data classification and governance platform will offer capabilities to the Actian solution set including:

  • Over 900 exclusive data taxonomies in 14 languages
  • Up-to-date data detection patterns-including U.A.E., Qatar, Saudi and Covid-19 sensitivity
  • Optical Character Recognition classification engines
  • Cross-platform policy-engine support for advanced platforms, including Zoom®
  • Cross-device platform support to include data from unstructured data sources including laptops and desktops

The technology and customer relationship will involve product integration, joint product marketing activities and cross-catalogue sales activities for SaaS and hybrid commercial offerings.  The requirements for privacy compliance and governance management continue to require increased sophistication, performance and depth of intelligence that is available to the data owners.

"Actian customers are on a journey to the cloud and require a hybrid-cloud data warehouse solution that provides an integrated ability to identify, manage and secure sensitive data across multi-cloud platforms or in a hybrid deployment," said Marc Potter, Chief Revenue Officer, Actian. "The partnership with Data443 and Actian provides customers with the industry's first solution to address these requirements with zero impact on performance."

Jason Remillard, CEO of Data443, commented, "Oncoming privacy requirements drive increased performance and capabilities. Cloud Data Warehousing is a massive marketplace and opportunity for our product set. Actian is a great company to work with, solid and respected product set and a very impressive executive leadership and board team.  Their growth is an incredible story and we look forward to working with them!"  Read this full press release for ATDS at:  https://www.financialnewsmedia.com/news-atds/ 

In the industry developments and happenings in the markets include: 

Snowflake Inc. (NYSE: SNOW) the Data Cloud company, recently announced an over 300% increase in the total number of data providers on Snowflake Data Marketplace since April 2020. Thousands of organizations are leveraging the power of the Data Cloud via Snowflake Data Marketplace to unlock more rich insights faster, with seamless access to data from open and commercial third-party data providers and SaaS vendors.

Leading brands in Snowflake's Data Cloud, such as DoorDash, Pacific Life Insurance, and S&P Global are already leveraging Snowflake Data Marketplace to move their businesses forward:  "Snowflake Data Marketplace enables Pacific Life to access business-critical data from strategic business partner Experian, eliminating file transfers and ETL," Kurpal Sandhu, Director of Data and Visualization, Pacific Life Insurance said.

Oracle Corporation (NYSE: ORCL) recently announced that Oracle database 21c, the latest version of the world's leading converged database, is available on Oracle Cloud, including the Always Free tier of Oracle Autonomous Database. Oracle Database 21c contains more than 200 new innovations, including immutable blockchain tables, In-Database JavaScript, native JSON binary data type, AutoML for in-database machine learning (ML), and persistent memory store, as well as enhancements for in-memory, graph processing performance, sharding, multitenant, and security. Unlike other vendors' single-purpose databases in the cloud or on-premises, Oracle Database 21c provides support for multi-model, multi-workload, and multi-tenant requirements – all within a single, modern converged database engine. In addition, Oracle today announced the availability of Oracle APEX (Application Express) Application Develpoment, a new low-code service for developing and deploying data-driven enterprise applications quickly and easily. The browser-based, low-code cloud service enables developers to create modern web apps for desktops and mobile devices using an intuitive graphical interface.

Cloudera, Inc. (NYSE: CLDR), the enterprise data cloud company, recently announced that Gary Huhas been appointed to the Company's Board of Directors, upon the recommendation of Icahn Enterprises in accordance with the Voting and Standstill Agreement between Cloudera and affiliates of Icahn Enterprises, dated August 12, 2019. Gary Hu replaces Nicholas Graziano who had been an Icahn designee and resigned from the Company's Board of Directors, effective January 7, 2021. Jesse Lynn continues as the other Icahn board designee.

"On behalf of the entire Board of Directors, I'd like to welcome Gary to the Board as well as thank Nick for his service," said Rob Bearden, Chief Executive Officer, Cloudera. "I'm looking forward to working with Gary and the rest of the Board as we continue to execute the long-term strategic plan to cement our position as the leader in the enterprise data cloud market."

Palantir Technologies Inc. (NYSE: PLTR) recently announced the Army (PEO IEW&S) down-selected it to deliver a prototype for the first phase of the Army's Ground Station modernization in support of the Army's Tactical Intelligence Targeting Access Node (TITAN) program.  The contract value for this phase is $8.5 million, with a potential contract value of approximately $250 million over all 4 phases. Palantir was awarded a Phase 1 Project Agreement through an Other Transaction Agreement (OTA) with Consortium Management Group, Inc. (CMG) on behalf of Consortium for Command, Control and Communications in Cyberspace (C5).

During the first phase of the effort, Palantir will collaborate with the Army to design and demonstrate the ground station prototype solution for the Army's TITAN program. The Palantir solution will leverage space, high altitude, aerial, terrestrial sensors and data sources for use in intelligence and military targeting operations. It will field a "turn key" solution for the Army that integrates data from a variety of sources including commercial and classified sources from space to ground sensors.

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