Master Data Management Market worth $34.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 18, 2022 /PRNewswire/ -- According to a research report "Master Data Management Market by Component, Organization Size (SMEs & Large Enterprises), Deployment Mode (Cloud & On-premises), Vertical (BFSI & Healthcare), and Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2027", published by MarketsandMarkets™, the Master Data Management Market size to grow from USD 16.7 billion in 2022 to USD 34.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period. Various factors such as incorporation of new technologies with master data management and increasing adoption of data quality tools for data management are expected to drive the adoption of MDM solutions and services.
Browse in-depth TOC on "Master Data Management Market"
368 – Tables
40 – Figures
292 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=267174702
MDM solutions comprise a set of comprehensive tools that help end users channel and securely maintain their critical master data. These solutions provide users with enhanced features, such as data validation, data collection, data update on a real-time basis, synchronization, data harmonization, cleansing, de-duplication, and data matching. Master data mainly comprises the prominent data types of an organization, such as customer data, product data, supplier data, location data, and asset data. MDM solutions and services provide in-depth insights into the product life cycle, vendor listing, multi-domain customer requirements, and inventory data. These insights provide users with information that helps them improve their customer experiences, accelerate their analytical and transactional operations, and make faster business decisions.
Healthcare vertical to witness highest CAGR during the forecast period
The segmentation of the MDM market by the industrial vertical includes BFSI, government, healthcare, retail, IT and telecom, manufacturing, energy & utilities, and others. The healthcare industry is developing rapidly due to many major technological advancements resulting in enhancing the efficiency of the overall industry. It is a comprehensive sector dealing with diverse clinical, administrative, and financial data. The industry is strongly regulated and requires channelized medical insights, improved data quality, and accurate clinical information which cannot be consolidated without the deployment of advanced data management solutions.
Small and Medium-sized Enterprises segment to register higher CAGR during the forecast period
Based on organization size, the MDM market is segmented into large enterprises and SMEs. Currently, the market share of large enterprises is higher; however, the market for SMEs is expected to increase at a higher CAGR during the forecast period. SMEs are rapidly adopting cloud-based MDM solutions, as these solutions help improve their operational efficiency, streamline their operations, and enhance the existing customer experience. SMEs are exploring ways to manage their data using business intelligence and online transaction processing. MDM solutions are adopted by SMEs as a large volume of data is generated by these enterprises.
Request Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=267174702
APAC to have a higher CAGR during the forecast period
The Master Data Management Market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. APAC is expected to have the highest CAGR during the forecast period. The region is growing at a good pace because of the major multinational players coming over and a lot of new entrepreneur setups are adopting cloud-based MDM solutions, as these solutions help improve their operational efficiency, streamline their operations, and enhance the existing customer experience. China, Japan, and India are displaying ample growth opportunities in the Master Data Management Market.
Key Players:
Some major players in the Master Data Management Market include IBM (US), Oracle (US), SAP (Germany), SAS (US), TIBCO Software (US), Informatica (US), Talend (US), Cloudera (US), Riversand (US), SyncForce (US), and Stibo Systems (Denmark).
Browse Adjacent Markets: Analytics Market Research Reports & Consulting
Related Reports:
Enterprise Content Management Market by Business Function, Component (Solutions (Document Management, Record Management, eDiscovery), Services) Deployment Type, Organization Size, Vertical and Region - Global Forecast to 2026
Metadata Management Tools Market by Component (Tools, Services), Metadata Type, Application (Data Governance, Risk & Compliance Management), Business Function, Deployment Mode, Vertical, and Region - Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/master-data-management-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/master-data-management.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article