The global cloud based information governance market is anticipated to grow at a CAGR of 21.8% during the forecast period (2024-2031). Data security and compliance are essential for organizations to protect their data and adhere to industry regulations and data protection laws. This involves implementing encryption, access controls, and audit trails to ensure data confidentiality and integrity. Additionally, organizations need to effectively manage records, facilitate secure collaboration and file sharing, streamline e-discovery processes, and enforce data lifecycle management. Identity and access management, audit and monitoring, information classification and tagging, risk management, and data governance for analytics are also crucial components of a comprehensive data governance strategy. The market’s growth is attributed to growing demand for increasing adoption of SaaS solutions across the globe. The widespread adoption of Software as a Service (SaaS) solutions increases the demand for cloud-based information governance to assure data security and compliance in cloud-hosted applications. For instance, in May 2023, IBM, unveiled IBM Hybrid Cloud Mesh,a SaaS offering that is designed to enable enterprises to bring management to their hybrid multicloud infrastructure. It provides application connectivity between public and private clouds, allowing modern companies to operate their infrastructure across hybrid multicloud and heterogeneous environments.
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Furthermore, the integration of several data sources into a unified, trustworthy enterprise perspective allows government agencies to access a wide range of information and make sound decisions. Cloud-based solutions enable real-time access to data that improves decision-making. In November 2022, Informatica launched the availability of the Intelligent Data Management Cloud™ (IDMC) platform. The digital transformation in state and local governments enhances citizen service by integrating diverse data sources into a single, trusted enterprise view.
Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2023-2031
- Segment Covered-
o By Type
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Includes Broadcom, Inc., Dell International Services India Pvt. Ltd., IBM Corp., Microsoft, Oracle and others.
- Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Cloud Based Information Governance Market Report Segment
By Type
- Simple Storage and Retrieval
- Basic Document Management
- Complex Document Management
- Functional Applications with Document Storage
- Social Networking Applications with Document Storage
By Application
- BFSI
- Public Sector
- Retail sector
- Manufacturing
- IT and Telecom
- Healthcare
- Others (Education, and Telecommunications)
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Company Profiles
- Broadcom, Inc.
- Commvault Systems, Inc.
- Dataguise DgSecure
- Dell International Services India Pvt. Ltd.
- Egnyte, Inc.’s
- Forcepoint™ LLC
- Google Cloud Platform (GCP)
- Hewlett Packard Enterprise Co.
- IBM Corp.
- McAfee, LLC.
- Microsoft
- NetApp, Inc.’s
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