DUBLIN, June 8, 2022 /PRNewswire/ — The “Master Data Management Market by Component, Organization Size (SMB and Large Enterprise), Deployment Mode (Cloud and On-Premise), Vertical (BFSI and Healthcare) and Region (North America, EuropeAPAC, MEA, Latin America) – Global Forecast to 2027″ report has been added to from ResearchAndMarkets.com offer.
The master data management market size will grow from $16.7 billion in 2022 at $34.5 billion by 2027, at a compound annual growth rate (CAGR) of 15.7% over the forecast period. Various factors such as the growing need for compliance, the increased use of data quality tools for data management, and the growing trend towards multi-domain master data management are expected to drive the adoption of technologies and services master data management.
According to IBM, Master Data Management (MDM) is a comprehensive method for defining and managing an organization’s critical data. It provides a single, trusted view of data across enterprises, agile self-service access, graph-based analytics exploration, governance, and a user-friendly dashboard. Additionally, MDM provides a 360-degree view of data and empowers users to deliver better business insights through self-service analytics.
The master data management market is expected to grow due to several factors, such as the growing need for compliance and the growing trend towards multi-domain master data management. The increasing availability and accessibility to view master data records within and beyond organizations drives the need for authorized processes to maintain the authenticity and accuracy of this data. Therefore, organizations are implementing integrated data governance models with their MDM solutions. Currently, users prefer integrated multi-domain MDM solutions that assist them in complying with various types of information policies and help them resolve technical data management issues. Therefore, data governance is largely standardized to increase the adoption of MDM solutions in the market.
The COVID-19 pandemic has affected the master data management market. However, enterprises still use MDM software to analyze real-time demand, manage network traffic, and ensure a balanced approach in upstream, midstream, and downstream processes across verticals. Companies are looking for real-time MDM solutions with data visualization, simulation and scenario development, data analysis capabilities in different business processes, regression analysis, historical trend analysis and forecasting, clustering and segmentation, and standardized reporting. Most solution providers have realized this and have started implementing their solutions with these features to help their customers.
The services segment is expected to grow at a higher CAGR during the forecast period
Based on components, the MDM market is segmented into solutions and services. The Services segment CAGR is estimated to be the highest during the forecast period. Services play a very important role in the MDM market and are considered the basic components for the efficient functioning of any software. Rising demand for cloud-based services and increasing adoption of MDM solutions are driving the growth of the services segment. Effective service delivery helps improve system reliability, operational efficiency and cost management.
On-premises segment will have the largest market size during the forecast period
Based on deployment type, the MDM market is segmented into cloud and on-premises. In on-premises deployment, the software is installed on the customer’s server, while in cloud deployment, the software is hosted on dedicated equipment located off-site. On-premises deployment runs on customers’ data centers and allows them to control and manage all aspects of MDM. On-premises deployment of MDM is a traditional deployment model and is currently the preferred method.
Asia Pacific hold the highest CAGR over the forecast period
The MDM market in Asia-Pacific is expected to grow at the highest CAGR of 24.0% from 2018 to 2023, owing to increasing industrialization in this region. This market should also explain the significant adoption of MDM solutions. Initially, data management in this region followed an immature discipline. However, with the growing awareness of increasing business productivity, complemented by competently designed MDM solutions offered by vendors present in this region, leads to Asia Pacific become a high-potential market.
Main topics covered:
1. Introduction
2 Research methodology
3 Executive summary
4 premium previews
4.1 Attractive Opportunities in the Master Data Management Market
4.2 Market, by vertical
4.3 Market, by Region
5 Market Overview and Industry Trends
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased use of data quality tools for data management
5.2.1.2 Growing need for compliance
5.2.2 Constraints
5.2.2.1 Data security issues
5.2.3 Opportunities
5.2.3.1 Integration of new technologies with Master Data Management
5.2.3.2 Trend towards multi-domain reference data management
5.2.4 Challenges
5.2.4.1 Diversified data regulations and legislations across different verticals and regions
5.2.4.2 Network Slowdown Due to COVID-19 Pandemic Will Significantly Impact Master Data Management Market
5.2.5 Cumulative Growth Analysis
5.3 Master data management: evolution
5.4 Case studies
5.4.1 Banking, financial services and insurance
5.4.1.1 Use case 1: Raiffeisen Bank used Ataccama One to power its operations, prevent fraud and facilitate regulatory compliance
5.4.2 Information technology and telecommunications
5.4.2.1 Use case 2: Avast used Ataccama One to improve its customer experience and ensure data privacy
5.4.3 Retail trade and consumer goods
5.4.3.1 Use Case 3: 1-800-Flowers.Com used IBM Infosphere Master Data Management to help customers find the right gifts
5.4.4 Government and Defense
5.4.4.1 Use case 4: Cak used Tibco Mdm to better interact with the citizens of Holland and other government agencies
5.4.5 Manufacturing
5.4.5.1 Use case 5: Goya Foods used Tibco Mdm to improve the quality of their product data
5.4.6 Healthcare
5.4.6.1 Use case 6: Hackensack Meridian used Informatica Mdm to manage complex data floors
5.4.7 Energy and utilities
5.4.7.1 Use Case 7: Fjordkraft Used Informatica Master Data Management to Consolidate, Deduplicate, and Master Customer Data
5.5 Technology Analysis
5.5.1 Ai, Ml and master data management
5.5.2 Cloud Computing and Master Data Management
5.5.3 Big Data & Analytics and master data management
5.6 Porter’s Five Forces Analysis
5.7 Supply/Value Chain Analysis
5.8 Patent Analysis
5.9 Mdm ecosystem
5.10 Pricing Model Analysis
5.11 Regulatory Implications
5.12 Mdm market: impact of COVID-19
5.13 Pricing and regulatory landscape
6 Master Data Management Market, By Component
6.1 Presentation
Dimension 6.1.1: Market Drivers
6.1.2 Components: impact of COVID-19
6.2 Remedy
6.3 Services
6.3.1 Consulting services
6.3.2 Integration services
6.3.3 Training and support services
7 Master Data Management Market, By Deployment Type
7.1 Presentation
7.1.1 Deployment Type: Market Drivers
7.1.2 Type of deployment: Impact of COVID-19
7.2 Cloud
7.3 On-site
8 Master Data Management Market, By Organization Size
8.1 Presentation
8.1.1 Organization Size: Market Drivers
8.1.2 Size of organization: impact of COVID-19
8.2 Large companies
8.3 Small and medium enterprises
9 Master Data Management Market, By Vertical
9.1 Presentation
9.1.1 Vertical: impact of COVID-19
9.1.2 Vertical: market drivers
9.2 Banking, financial services and insurance
9.3 Government
9.4 Retail
9.5 IT & Telecom
9.6 Manufacturing
9.7 Energy and utilities
9.8 Healthcare
9.9 Other vertical markets
10 Master Data Management Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Strategies of Key Players
11.3 Revenue Analysis
11.4 Market Share Analysis
11.5 Business Rating Quadrant
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Ubiquitous Players
11.5.4 Participants
11.6 Startup/SME Assessment Quadrant
11.6.1 Progressive companies
11.6.2 Sensitive companies
11.6.3 Dynamic companies
11.6.4 Starting Blocks
11.7 Competitive Scenario
11.7.1 Product Launches
11.7.2 Offers
12 company profiles
12.1 Presentation
12.2 Key Players
12.2.1 IBM
12.2.2 Oracle
12.2.3 Broadcom
12.2.4 Sap
12.2.5 SAS Institute
12.2.6 Teradata
12.2.7 Nuagera
12.2.8 Talend
12.2.9 Riversand
12.2.10 Computer science
12.2.11 Stibo systems
12.2.12 Ataccam
12.2.13 Tibco software
12.3 Other Key Players
12.3.1 Occupational Group
12.3.2 Action
12.3.3 Mind tree
12.3.4 Aws
12.3.5 Content server
12.3.6 Winshuttle
12.3.7 Micro Focus US
12.3.8 Veeva
12.3.9 Sales Force
12.3.10 hep
12.4 Start-ups/SMEs
12.4.1 Report
12.4.2 Semarchy
12.4.3 Magnitude software
12.4.4 Synchroforce
12.4.5 Qlik
12.4.6 Golden Source
12.4.7 Zaloni
13 Appendix
For more information on this report, visit https://www.researchandmarkets.com/r/c1nyjj
Media Contact:
Research and Markets
Laura Woodsenior
[email protected]
For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900
US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716
SOURCE Research and Markets