Master Data Management Market Worth $34.5 Billion by 2027 –
Chicago, July 22, 2022 (GLOBE NEWSWIRE) — The master data management market size is expected 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, according to a new report from MarketsandMarkets™. Various factors such as the integration of new technologies with master data management and the increasing adoption of data quality tools for data management are expected to drive the adoption of MDM solutions and services.
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Browse the in-depth table of contents at “Master Data Management Market”
368 – Tables
40 – Numbers
292 – Pages
|Market size available for years||2016-2027|
|Reference year considered||2022|
|Forecast units||Million USD|
|Market value in 2022||$16.7 billion|
|Expected value in 2027||$34.5 billion|
|Segments Covered||Component, Deployment Type, Organization Size, Vertical, and Region.|
|Regions covered||North America, Europe, Asia-Pacific, Middle East and Africa and Latin America|
|Companies covered||IBM (US), Oracle (US), SAP (Germany), SAS (US), TIBCO Software (US), Informatica (US), Talend (US), Cloudera ( United States), Riversand (United States), Syn Force (United States), Stibo Systems (Denmark), Profisee Group (United States), Reltio (United States), Semarchy (United States), Broadcom ( US), Ataccama (Canada), AWS (US), Teradata (US), Mindtree (US), Magnitude Software (US), Contentserv (Switzerland), Veeva (US) , Qlik (US), HPE (US), GoldenSource (US), Salesforce (US), Micro Focus (UK), Zaloni (US), Winshuttle (US) , and Actian (Indonesia)|
Master Data Management (MDM) is a comprehensive method that defines and manages an organization’s enormous amount of data. It represents a single and reliable view of data from all companies. It also provides agile self-service access, graph-based analytics exploration, data governance, and an easy-to-use dashboard. Additionally, MDM provides a 360-degree view of data allowing users to deliver better business insights through self-service analytics.
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By component, the MDM market has been segmented into solutions and services. The CAGR of the service component is estimated to be highest during the forecast period. The services provided can be subdivided into professional and managed services. These services help identify the type of integration required by organizations to meet their demands. Companies offering MDM services deploy consultants, solution experts, and dedicated project management teams specializing in the design and delivery of critical business intelligence software, tools, and services.
The MDM market has been segmented by cloud and on-premises deployment type. The onsite segment is expected to register a larger marker size during the forecast period. The on-premises deployment of MDM gives enterprises full control over the security of sensitive corporate data such as customer details, product data, corporate asset details, and supplier data. This data is secure because it exists on dedicated servers that are physically and virtually separated from any other business data of the company.
The MDM market by organization size has been categorized into SMB and large enterprises. SMBs are expected to experience the highest growth rate as these solutions help improve their operational efficiency, streamline their operations, and enhance the existing customer experience. With advancements in technology, various software solutions can be offered as per customer demands. This allows SMEs to only pay for what they need. Currently, companies need to offer real-time data analytics for better results and instant corrective actions.
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The MDM 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. Some large multinational players are showing interest in opening new offices in the region, and many new setups of entrepreneurs are on the way, who are embracing new technologies to gain a competitive advantage over established players. China, Japan, Singapore, and India have shown many growth opportunities by adopting MDM solutions and services in the market.
Main market 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 (USA), Riversand (USA), SyncForce (USA) and Stibo Systems (Denmark).
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