In 2021, the global enterprise data management market was worth USD 82.1 Billion. It is expected to grow at a CAGR of 14.7% from 2022 to 2032.
This growth is driven by the growing demand for digitalization and on-time data delivery. Enterprise Data Management (EDM), which includes many features such as the ability to choose from multiple deployment options, robust quality control, and accessible distribution functions, is a flexible solution. This solution addresses data availability issues by sourcing data from multiple sources and storing it on a single platform. These benefits allow enterprises and businesses to organize and manage data more efficiently and facilitate data-based decision making.
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Enterprise Data Management Market: Drivers
The demand for products that manage risk is increasing, which will increase the need for them.
Numerous businesses are opening new offices worldwide due to ongoing globalization. The variable data dependent on the location of the offices makes data acquisition more difficult. These situations can be complicated by the variable data dependent on office areas. Data management systems can allow multi-user access to these data and provide single-source reporting, providing clients with consistent data. EDM solutions benefit incumbents in different industries and verticals, such as BFSI and manufacturing. EDM solutions provide valuable insights from historical and current data, forecasting market developments, and other information that can impact client needs. Restructuring workflows could have an impact on the baseline of an organization. EDM solutions are a great option for these companies. They can verify the accuracy of the data and implement effective risk management.
Enterprise Data Management Market: Restraints
The market growth will be hindered by the failure to address and validate data problems
Lack of address information is the main reason for problems in route optimization. There are significant barriers to route optimization, including problems with addressing systems and inconsistent validation standards among nations. Address validation is an integral part of the address data management technique. EDM solutions can be helpful in data management, but there are significant obstacles to increasing the market for enterprise data management. Consider large firms that have significant data processing departments. If they fail to implement data management solutions or choose the wrong data management solutions, it could be a sign of a failing business. The market growth might be affected if there are too many data elements.
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Enterprise Data Management Market Key Trends:
Technological innovations will fuel global enterprise data market growth. Mobile workers are replacing traditional workplaces with mobile workplaces. Therefore, data collaboration is crucial. ESNs for enterprise social networks (ESNs), which provide workflow capabilities across social channels, are becoming more widespread and extensive. They will likely be integrated with EDM software solutions. EDM software solutions that are multifunctional and comprehensive will be in high demand due to the rise of social collaboration and cloud computing. EDM software solutions have become more sophisticated thanks to advanced technologies like IoT, ML and other emerging technologies. EDM software solutions are expected to include file share and sync functions. Eventually, multiple solutions, such as ESN, EFS, and EDM, will consolidate and merge to create comprehensive data management platforms that enable organizations to use such data for their business goals.
Recent development:
- December 2021, IQGeo a renowned developer of geospatial productivity software, launched Network Manager Electric, and Network Manager Gas software solutions. This software provides efficient workflow solutions for electric and gas network operators.
- Informatica is a provider of data integrity software solutions and launched Intelligent Data Management Cloud for APAC in July 2021. This system provides access to Microsoft Azure for APAC, SE Asia and other regions via an AI-powered cloud platform.
Scope of the Report
Attribute | Details |
Market Size in 2022 | USD 82.1 Billion |
Growth Rate | 14.7% |
Historical Years | 2016-2020 |
Base Year | 2021 |
Quantitative Units | USD In Bn |
No. of Pages in Report | 200+ Pages |
No. of Tables & Figures | 150+ |
Format | PDF/Excel |
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Key Market Players:
- International Business Corporation
- SAP SE
- Oracle Corporation
- Teradata
- Amazon Web Services, Inc
- Cloudera, Inc.
- Informatica
- Broadcom (Symantec)
- MindTree Ltd.
- Other Key Players
By Component
- Services
- Software
By Service
- Professional Services
- Managed Services
By Deployment
- Cloud
- On-premise
By Enterprise Size
- Small & Medium Enterprise (SME)
- Large Enterprise
By End-use
- BFSI
- Healthcare
- IT & Telecom
- Manufacturing
- Retail & Consumer Goods
- Other End Uses
Industry, By Region
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
Key questions:
- What are the major players in the enterprise data management market?
- What is the CAGR projected for China by 2032
- What are the market trends for enterprise data management?
- What role does the cloud play in the development of the global enterprise data management market?
- What is the analysis of the market for enterprise data management in the region?
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