Global Master Data Management Market (2022 to 2027) - Trend Towards Multi-Domain Master Data Management Presents Opportunities
DUBLIN, June 8, 2022 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
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 rising need for compliance, increase in the use of data quality tools for data management, and rising trend towards multi-domain master data management are expected to drive the adoption of master data management technologies and services.
According to IBM, Master Data Management (MDM) is a comprehensive method to define and manage an organization's critical data. It provides a single, trusted view of data across enterprises, agile self-service access, analytical graph-based exploration, governance, and a user-friendly dashboard. Moreover, MDM provides a 360-degree view of data and enables users to deliver better business insights through self-service analytics.
The master data management market is expected to grow owing to several factors, such as rising need for compliance and rising trend towards multi-domain master data management. The increasing availability and accessibility to view master data records within and beyond organizations are leading to 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. Presently, users prefer integrated multi-domain MDM solutions assist them in the observance of various kinds of information policies and help them resolve technical data management issues. Hence, data governance is widely being standardized to increase the adoption of MDM solutions in the market.
The COVID-19 pandemic has affected the master data management market. However, companies are still leveraging MDM software to analyze real-time demand, manage network traffic, and ensure a balanced approach in upstream, midstream, and downstream processes across verticals. Companies would look out for real-time MDM solutions with data visualization, simulation and scenario developments, capabilities to analyze data in different business processes, regression analysis, historical trend analysis and forecasting, clustering and segmentation, and standardized reporting. Most solution providers have realized this and started implementing their solutions with these features to help their clients.
The Services segment to grow at higher CAGR during the forecast period
Based on component, the MDM market is segmented into solutions and services. The CAGR of the Services segment is estimated to be the largest during the forecast period. Services play a very important part in the MDM market, and are considered as the core components for the effective functioning of any software. The growing demand for cloud-based services and the rising adoption of MDM solutions are driving the growth of the services segment. The efficient delivery of services helps in improving system reliability, operational efficiency, and cost management.
The On-Premises segment to 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, software is installed on the customers' server, whereas in cloud deployment, the software is hosted on dedicated equipment situated off-premises. On-premises deployment runs on customer data centers and allows them to control and manage all aspects of the MDM. On-premises deployment of MDM is a traditional deployment model and is presently the preferred method.
Asia Pacific to hold highest CAGR during the forecast period
The Asia Pacific MDM market is expected to grow at the highest CAGR of 24.0% from 2018 to 2023, due to growing industrialization in this region. This market is also expected to account for the significant adoption of MDM solutions. Initially, data management in this region followed an immature discipline. However, with the rising awareness about the increase in business productivity, supplemented with competently designed MDM solutions offered by vendors present in this region, is leading to Asia Pacific becoming a highly potential market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Master Data Management Market
4.2 Market, by Vertical
4.3 Market, by Region
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in the Use of Data Quality Tools for Data Management
5.2.1.2 Rising Need for Compliance
5.2.2 Restraints
5.2.2.1 Data Security Concerns
5.2.3 Opportunities
5.2.3.1 Incorporation of New Technologies with Master Data Management
5.2.3.2 Trend Towards Multi-Domain Master Data Management
5.2.4 Challenges
5.2.4.1 Diversified Data Regulations and Legislation Across Different Verticals and Regions
5.2.4.2 Network Slowdown Due to COVID-19 Pandemic to Impact the Master Data Management Market Significantly
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 Telecommunication
5.4.2.1 Use Case 2: Avast Used Ataccama One to Improve Its Customer Experience and Ensure Compliance with Data Privacy
5.4.3 Retail and Consumer Goods
5.4.3.1 Use Case 3: 1-800-Flowers.Com Used IBM Infosphere Master Data Management to Assist Customers Find Right Gifts
5.4.4 Government and Defense
5.4.4.1 Use Case 4: Cak Used Tibco Mdm to Better Interact with Citizens of Holland and Other Governmental Agencies
5.4.5 Manufacturing
5.4.5.1 Use Case 5: Goya Foods Used Tibco Mdm to Enhance Quality of Data on Its Products
5.4.6 Healthcare
5.4.6.1 Use Case 6: Hackensack Meridian Used Informatica Mdm to Manage Complex Soils of Data
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: COVID-19 Impact
5.13 Tariff and Regulatory Landscape
6 Master Data Management Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Components: COVID-19 Impact
6.2 Solution
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 Introduction
7.1.1 Deployment Type: Market Drivers
7.1.2 Deployment Type: COVID-19 Impact
7.2 Cloud
7.3 On-Premises
8 Master Data Management Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market Drivers
8.1.2 Organization Size: COVID-19 Impact
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Master Data Management Market, by Vertical
9.1 Introduction
9.1.1 Vertical: COVID-19 Impact
9.1.2 Vertical: Market Drivers
9.2 Banking, Financial Services, & Insurance
9.3 Government
9.4 Retail
9.5 It & Telecom
9.6 Manufacturing
9.7 Energy & Utilities
9.8 Healthcare
9.9 Other Verticals
10 Master Data Management Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies
11.3 Revenue Analysis
11.4 Market Share Analysis
11.5 Company Evaluation Quadrant
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
11.6 Startup/Sme Evaluation Quadrant
11.6.1 Progressive Companies
11.6.2 Responsive Companies
11.6.3 Dynamic Companies
11.6.4 Starting Blocks
11.7 Competitive Scenario
11.7.1 Product Launches
11.7.2 Deals
12 Company Profiles
12.1 Introduction
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 Cloudera
12.2.8 Talend
12.2.9 Riversand
12.2.10 Informatica
12.2.11 Stibo Systems
12.2.12 Ataccama
12.2.13 Tibco Software
12.3 Other Key Players
12.3.1 Profisee Group
12.3.2 Actian
12.3.3 Mindtree
12.3.4 Aws
12.3.5 Contentserv
12.3.6 Winshuttle
12.3.7 Micro FocUS
12.3.8 Veeva
12.3.9 Salesforce
12.3.10 Hpe
12.4 Startup/ SMEs
12.4.1 Reltio
12.4.2 Semarchy
12.4.3 Magnitude Software
12.4.4 Syncforce
12.4.5 Qlik
12.4.6 Goldensource
12.4.7 Zaloni
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/c1nyjj
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