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Industry Landscape
The data management and governance industry is rapidly evolving, driven by the increasing volume and complexity of data, and the widespread adoption of AI. Organizations are struggling with data chaos, fragmented data landscapes, and the need for robust governance frameworks to ensure trust, compliance, and effective AI deployment. There is a strong demand for unified platforms that offer discovery, observability, and governance capabilities.
Total Assets Under Management (AUM)
Data Governance Market Size in United States
~$2.84 billion USD (2023)
(23.4% CAGR)
- Increased data volume and complexity.
- Growing regulatory compliance needs.
- Demand for AI-driven insights.
Total Addressable Market
11.1 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Data Documentation
Utilizing large language models to automatically generate, summarize, and enrich data documentation, metadata, and data asset descriptions.
Data Mesh Architectures
A decentralized approach to data management that treats data as a product, owned and managed by domain-oriented teams, facilitating data discoverability and consumption.
Automated Data Governance
Leveraging AI and machine learning to automate policy enforcement, compliance checks, data classification, and access controls, reducing manual overhead.
Impactful Policy Frameworks
American Data Privacy and Protection Act (ADPPA, proposed 2022)
A comprehensive federal privacy bill proposed in the U.S. aiming to establish a national data privacy standard, preempting state laws in many areas and granting consumers new rights over their data.
This policy would create a unified, stringent privacy framework, requiring businesses to enhance data mapping, consent management, and data deletion capabilities.
NIST AI Risk Management Framework (AI RMF 1.0, 2023)
A voluntary framework developed by the National Institute of Standards and Technology to help organizations manage the risks of artificial intelligence, focusing on trustworthy and responsible AI development and deployment.
While voluntary, this framework sets best practices for AI governance, pushing companies like Acryl Data to ensure their platforms support ethical AI, explainability, and robust data lineage for AI models.
California Privacy Rights Act (CPRA, effective 2023)
An expansion of the California Consumer Privacy Act (CCPA), strengthening consumer data rights, establishing the California Privacy Protection Agency (CPPA), and adding new categories of sensitive personal information.
CPRA mandates more granular control over personal data, requiring businesses to implement robust data governance tools for data discovery, classification, and secure data sharing to avoid penalties.
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