Growing amount and complexity of data drives the growth of the global master data management market.
PORTLAND, Ore., Nov. 15, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Master Data Management Market by Component (Solution and Services), Deployment (On-premises and Cloud), Enterprise Size (Large Enterprise and Small and Medium-sized Enterprises (SMEs)) and End User (BFSI, IT and telecom, Healthcare, Retail and E-commerce, Government, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″ According to the report, the market was valued at $16.8 billion in 2022 and is estimated to reach $74.5 billion by 2032, exhibiting a CAGR of 16.3% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios
Drivers, Restraints, and Opportunities
Surge in amount and complexity of data drive the market growth. In addition, rise in need for data governance and regulatory compliance drive the growth of the market. However, increasing cost & ROI and rise in culture barriers posed by organizations is expected to hamper the growth of the market. Furthermore, rise in integration of new technologies is anticipated to create lucrative growth opportunities for the market.
Download Sample Pages: https://www.alliedmarketresearch.com/request-sample/775
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$16.8 Billion |
|
Market Size in 2032 |
$74.5 Billion |
|
CAGR |
16.3 % |
|
No. of Pages in Report |
349 |
|
Segments covered |
Component, Deployment Mode, Enterprise Size, End User and Region. |
|
Drivers |
Growing amount and complexity of data Rise in need for Data governance and regulatory compliance |
|
Opportunities |
Rise in integration of new technologies |
|
Restraints |
Increasing cost and ROI Rise in culture Barriers posed by organizations |
COVID-19 scenario
The COVID-19 pandemic raised attention to the significance of master data management (MDM), which provides accurate and trustworthy data for decision-making. Organization required comprehensive understanding of their data as they traverse the crisis in order to make wise decision and respond fast in response to shifting market condition.
Robust MDM solutions are growing more important than ever due to pandemic accelerated the adoption of digital technology and remote work. MDM system that guarantee data quality, consistency and security across several platforms and devices are necessary for organization that staff work remotely and access data from multiple sources.
Additionally, the outbreak impacted market dynamic and consumer behavior. To satisfy the changing needs of their customers, businesses need to adapt their business plans and method. In a market environment that is constantly evolving, MDM solutions are essential in giving businesses a single, unified understanding of their customer data. This allows them to personalized their products, boost customer interaction and increase customer loyalty.
Buy this Complete Report (349 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/master-data-management-market/purchase-options
The Solution segment to rule the market
By component, the solution segment held the major share in 2022, garnering nearly two-third of the global master data management market revenue, as it enables organizations to make knowledgeable decisions, increase operational effectiveness, improve customer experience, and generate revenue by giving them a single source of truth for master data propels the market growth significantly. The services segment would also showcase the fastest CAGR of 18.6% during the forecast period, owing to businesses in maximizing the value of their data assets, enhancing decision-making, and enhancing operational effectiveness.
The On-premise segment to maintain its dominance during the forecast period
By deployment mode, the on-premise segment accounted for nearly three-fifth of the global master data management market share in 2022, and is expected to rule the boost by 2032, as organization want to have complete control over the hardware, software, and data, also enabling more customization and security, which propels the market growth significantly. The cloud segment would also display the fastest CAGR of 18.3% throughout the forecast period, owing to enables businesses to make use of cutting-edge technologies like AI and ML for data analytics and insights, promoting innovation and competitive advantage.
The Small and Medium-sized enterprise segment to dominate by 2032
By enterprise size, large enterprise segment accounted for nearly three-fifth of the global master data management market share in 2022, and is expected to rule the boost by 2032, as it aids in enhancing data governance and compliance, enabling businesses to make smarter choices. The small and medium-sized enterprise segment would also display the fastest CAGR of 18.7% throughout the forecast period, owing to utilize advanced data management capabilities without making substantial upfront investments.
The Healthcare segment to dominate by 2032
By end user, the BFSI segment accounted for nearly one-fifth of the global master data management market share in 2022, and is expected to rule the boost by 2032, owing to allowing them to gain insightful information, spot trends, and make defensible decisions. The healthcare segment would also display the fastest CAGR of 21.1% throughout the forecast period, owing to provide a single, centralized portal for accessing data, MDM features include consolidating, organizing, auditing, updating, de-duplicating, and managing diverse data from every source..
Asia-Pacific garnered the major share in 2032
By region, North America garnered the highest share in 2022, holding nearly two-fifth of the global master data management market revenue in 2022, and is projected to retain its dominance by 2032, as it offers a centralized repository for high-quality, consistent data that is essential for decision-making based on data. aiding the growth of the master data management market. The Asia-Pacific region would also portray the fastest CAGR of 20.0% during the forecast period, owing to data quality, streamline processes, and boost competitiveness which is expected to fuel the market growth in Asia-Pacific.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/775
Leading Market Players-
IBM
Broadcom Inc
SaS Institute Inc.
Cloud Software Group, Inc.
SAP SE
Informatica Inc.
Ataccama
Oracle Corporation
Talend
Amazon Web Services
The report analyzes these key players in the global master data management market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
Trending Reports in ICT & Media Industry:
Point of Sale Software Market Expected to Reach $13.7 Billion by 2031
Cloud Security Posture Management Market Expected to Reach $15.2 Billion by 2031
Server Operating System Market Expected to Reach $45.3 Billion by 2031
Augmented Reality Market Expected to Reach $411.4 Billion by 2031
Queue Management System Market Expected to Reach $1.4 Billion by 2031
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research