Data governance ensures that organizations adopting strong data governance practices can comply with data privacy regulations such as GDAPR and CCPA, thus driving increased adoption of data governance solutions.

Data governance is the development and enforcement of policies, procedures and standards for the management of data within an organization. It involves controlling and governing data through its lifecycle to ensure its quality, integrity and accessibility, while maintaining security and privacy controls. Data governance also helps organizations to monitor and control their structured and unstructured data for alignment with business objectives. With the rising amount of data generated and stored by organizations, having an effective data governance framework in place becomes critical to ensure authorized access, usefulness and security of data.

The Global Data Governance Market is estimated to be valued at US$ 2.88 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 To 2031.

Key players operating in the data governance market are Thermo Fisher Scientific Inc., Sirion-Biotech GmbH (Revvity), Vector Biolabs, OriGene Technologies, Inc., SignaGen Laboratories, Sino Biological, Inc., Takara Bio Inc., Cell Biolabs, Inc., GenTarget Inc., GENEMEDI, bluebird bio, Inc., Cellomics Technology, LLC., Virica Biotech, Oxford Biomedica, and ANDELYN BIOSCIENCES.

Key Takeaways

Key players: Key players like Thermo Fisher Scientific Inc., Sirion-Biotech GmbH, OriGene Technologies, Inc. are focused on developing and offering advanced data governance solutions to help organizations effectively govern and manage high volumes of structured and unstructured data.

Growing demand: With growing data volumes and stringent data privacy regulations, the demand for Data Governance Market Size solutions is growing significantly across industries to ensure data quality, standardization, security and compliance with regulations.

Global expansion: Major players are focusing on global expansions through partnerships and acquisitions to strengthen their product portfolios and geographical footprint. For instance, in 2021, Thermo Fisher Scientific acquired Henogen to expand its capabilities in cell and gene therapy.

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