Enterprise Data Management Market size is set to grow by USD 96.98 bn from 2023-2027, rising demand for digitalization boost the market - Technavio

NEW YORK, March 19, 2024 /PRNewswire/ -- The global enterprise data management market size is estimated to grow by USD 96.98 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 15.07% during the forecast period. The Enterprise Data Management market is witnessing significant growth due to the increasing complexity of business data. The Sarbanes-Oxley Act mandates strict data compliance, driving enterprises to adopt data integration solutions. AI-powered cognitive media solutions enable real-time data analysis, facilitating decision-making and process understanding. Vendors offer AI-enhanced analytics through a subscription business model.

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Key Company

Enterprise Data Management Market  is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Enterprise Data Management Market report includes information on the product launches, sustainability, and prospects of leading vendors including Accenture Plc, Amazon.com Inc., Broadcom Inc., Cloudera Inc., GoldenSource, HP Inc., Hyland Software Inc., Informatica Inc., Innovative Systems Inc., Intel Corp., International Business Machines Corp., Larsen and Toubro Ltd., Micro Focus International Plc, Microsoft Corp., Oracle Corp., Precisely, SAP SE, Talend, Teradata Corp., Veritas 

Key benefits for Companies

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players.
• Data is qualitatively analyzed to categorize vendors as pure play, category focused, industry focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. Expand operations in the future.

Research Analyst Overview

The Enterprise Data Management (EDM) market refers to the industry dedicated to addressing the challenges of collecting, storing, protecting, and utilizing data effectively within organizations. Businesses in various sectors, including finance, healthcare, retail, and manufacturing, rely on EDM solutions to manage their complex data environments. EDM systems enable companies to ensure data accuracy, consistency, and security. They provide a unified view of data across the organization, facilitating better decision-making and improving operational efficiency. Additionally, EDM solutions support data governance, ensuring compliance with regulations such as GDPR and HIPAA. The EDM market is experiencing significant growth due to the increasing volume, variety, and velocity of data being generated. Furthermore, the integration of advanced technologies like artificial intelligence, machine learning, and blockchain is driving innovation in the EDM space. Key players in the EDM market include IBM, Oracle, Microsoft, SAP, and Informatica. These companies offer comprehensive EDM suites, catering to various industries and use cases. The competition in the market is intense, with vendors focusing on product innovation, strategic partnerships, and acquisitions to gain a competitive edge. In conclusion, the Enterprise Data Management market plays a crucial role in helping organizations effectively manage their data assets, ensuring data accuracy, security, and compliance. The market is expected to continue growing due to the increasing importance of data in driving business success.

Market Segmentation by End-user

The Enterprise Data Management Market in the BFSI sector is driven by the subscription business model, digitization, and customer-centric approaches. Banks leverage EDM solutions for data governance and security of big data from diverse systems like ERP, loan processing, claims management, and financial transactions. Business analysts utilize this information for market research and productivity enhancement. Deployment options include on-premises software and cloud solutions like Oracle Exadata. Personal data management is crucial for data security and compliance. Logistics and financial transactions benefit from the efficiency brought by EDM solutions.

Trends

The Enterprise Data Management market is significant due to the increasing volume of data generated by industries, with approximately 2.50 zettabytes in existence and 2.10 exabytes added daily. Compliance with regulations like the Sarbanes-Oxley Act necessitates robust data management. In the subscription business model, companies handle vast amounts of data from digital transactions, particularly in sectors like BFSI. Walmart, for instance, manages over one million transactions hourly. Data diversity and complexity increase with digitization and advanced devices, necessitating advanced data management solutions.

Technavio has identified key trends, drivers, and challenges in the market, whichwill help clients improve their strategies to stay ahead of their competitors.Download Now

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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