The increasing compliance demands owing to tightening data regulations are expected to provide opportunities for the master data management market growth
The global master data management market size is projected to reach nearly USD 28.00 billion by 2025. Also, it is projected to gather a CAGR of above 19.0% over the forecast years 2020-2025. Master data management solutions allow channelling a considerable volume of data gathered across an enterprise towards storing it at a single and secure location. Master data management tools provide an organization the capabilities to map the phases of document data transformation and information flow. These solutions can automatically update the records and clear the redundant data to keep data quality high. Owing to the master data management solution’s role in improving organizational data, companies across verticals alike are absorbing or planning to incorporate this technology in some way or the other in the coming years.
The future and existing master data management market progress are outlined to know the market attractiveness. Key influencing factors focus on the master data management of market opportunities over the forecast years. Factors such as their increased adoption across industries to improve the quality of the databases along with the increasing investment in technology’s development are driving the market growth. Also, the master data management solutions help organizations remain compliant with data governance regulations and aiding the growth of the global master data management market. However, the growing security concerns about data confidentiality is likely to hamper the market growth. Furthermore, the data consolidation by enterprises is anticipated to be an opportunity for the master data management market.
The report also outlines the various characteristics of the global master data management industry by assessing the market from value chain analysis. Moreover, the master data management market report comprises various qualitative parts of the master data management industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The master data management market has solid competition amongst the already well-known and new market players. Also, the master data management industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new start-ups, establishing collaboration & partnerships, and growing their business existence.
The market is segmented based on component, deployment type, organization size, vertical, and regions. Based on the component segment, the market is bifurcated into services and solutions. Deployment type is divided into cloud and on-premises. Organization size is divided into small and medium-sized enterprises and large enterprises. Based on vertical, the market is further divided into BFSI, government, retail IT & telecom, manufacturing, energy & utilities, healthcare, and others (education, aerospace and defense, travel and hospitality, transportation and logistics, and media and entertainment).
The North America region is expected to hold the highest market share during the forecast years owing to the presence of key industry players in the market. The market is at the forefront of new technology adoption which is also increasing the North American market. Asia-Pacific region is projected to showcase the highest growth rate during the forecast years owing to the increasing awareness about business productivity supplemented with master data management solutions.
The major players of the global master data management market are IBM, Oracle, SAP, SAS Institute, TIBCO, Informatica, Talend, Cloudera, Riversand, SynForce, Stibo Systems, Reltio, EnterWorks, Symantec, AWS, Actian, Micro Focus, and Teradata. These vendors have adopted various traditional and non-traditional growth strategies to enhance their market share including new product launches, partnerships and collaborations, and mergers and acquisitions.
Segment Overview of Global Master Data Management Market
Component Overview, 2018-2028 (USD Million)
Deployment Type Overview, 2018-2028 (USD Million)
Organization Size Overview, 2018-2028 (USD Million)
- Small and medium-sized enterprises
- Large enterprises
Vertical Overview, 2018-2028 (USD Million)
- IT & Telecom
- Energy & utilities
- Others (education, aerospace and defense, travel and hospitality, transportation and logistics, and media and entertainment)
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America