Master Data Management (MDM) Market is poised to touch USD 6050 million by 2022
Master Data Management (MDM) Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Master Data Management (MDM) Market was valued at USD 2885 million in 2017 and projected to reach USD 6050 million by 2022 growing at a CAGR of 13.56% during the forecast period 2017 to 2022.
Master data management is an essential part of data management in organizations. Proper management of data helps users’ access accurate product and customer data, which also makes it easier for organizations to carry out business operations. The master data management market has seen several improvements in the last two years. With the advent of the Internet of Things (IoT), the penetration of information technology in all sectors has increased. Several organizations have increased their investments in IoT technology. IoT technology offers a wide range of benefits for organizations in the analysis of big data, cloud computing and global networks, driving the market of master data management. The central data management market is expected to have a CAGR of around 22% in the coming years.
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Master Data Management (MDM) Market Growth Drivers and Restraints:
The Internet of Things (IoT) revolution has been essential to support the growth of the central data management market, as master data management has become an essential part of data management. The rapid growth of online businesses has driven the demand for global data management solutions. The rapid growth of the electronic commerce sector relies heavily on the precise management of master data. Revenues in the electronic commerce industry have grown exponentially in the last five years. This has led organizations operating in this sector to increase their investments in updating their IT infrastructure. Lack of knowledge about the effective advantages of the master data management is slightly restraining the market in under developed areas.
Geographic Insights of Master Data Management (MDM) Market:
From the geographic perspective, the master data management market has been segmented into five regions: North America, South America, the Middle East and Africa, Asia Pacific and Europe. Of these, North America is expected to have a significant market share of more than 50%, in terms of revenues, by 2026. The master data management market is also expected to experience strong growth in the market in Asia-Pacific region due to the anticipated increase in IT and spending on IT infrastructure in the region. IoT growth in Asia Pacific is also a key factor for the market growth of the data management in this region.
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Key Players of Master Data Management (MDM) Market:
Oracle Corporation, IBM Corporation, Informatica LLC, SAP SE, Riversand Technologies, Inc., Stibo Systems A/S, Talend Inc., Orchestra Networks, TIBCO Software Inc., and EnterWorks Acquisition, Inc. are the major players of the market.
Master Data Management (MDM) Market Segmentation:
By Product Type:
- Customer Data
- Product Data
By Industry:
- Banking, Finance and Insurance (BFSI)
- IT and Telecommunications
- Government & Health Care
- Manufacturing & Logistics
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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