Overview of Global Master Data Management Market to 2028

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Dublin, Aug. 26, 2022 (GLOBE NEWSWIRE) — The “Global Master Data Management Market Size, Share and Trend Analysis Report by Component (Solution and Services), by Industry Vertical, By Organization Size (Large On-Premises and SMBs), By Deployment Mode, By Regional Outlook and Forecast, 2022-2028 report” has been added to from ResearchAndMarkets.com offer.

The global master data management market size is expected to reach USD 39.4 billion by 2028, with the market growing at 15.6% CAGR during the forecast period.

Master data management, also known as MDM, is a primary process of managing, centralizing, organizing, categorizing, locating, synchronizing, and enriching master data in accordance with business, marketing, and operational plans of a company. ‘a company. In addition to all the sources of information that drive an organization, master data can take the form of information about customers, products, suppliers, location, and assets.

Efficiently processing master data within a central repository provides an authoritative individual perspective on information and breaks down data silos, which are costly inefficiencies. It helps a user achieve their business goals by identifying, linking and distributing data and material between customers, products, stores/locations, employees, suppliers, digital assets, etc.

Most businesses these days use a variety of systems, all of which contain important customer, company, or other critical business KPI data, such as CRMs, ERPs, and more. As a result, data silos, replicated data, missing data, and a fragmented view of the business emerge. Answering simple business questions becomes difficult when data is scattered across multiple sites and languages.

Many companies today, especially global companies, have a significant number of different applications and systems (e.g. ERP, CRM) where data that straddles departments or organizational subdivisions can easily be fragmented , duplicated and obsolete. When this happens, it becomes difficult to accurately answer even the most basic but crucial questions regarding any type of performance statistic or KPI for an organization. Companies are turning to master data management to meet this challenge. Due to these factors, master data management is rapidly gaining traction among people across the globe and hence, it is estimated to witness major growth prospects in the coming years.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on all industries, especially the computer industry, with the computer hardware business being the most affected. The industry has seen a considerable slowdown in the manufacturing and distribution of hardware components due to the imposition of lockdown in various countries around the world. For a very long time, the software and service industries have also seen a significant downturn. Cloud-based technologies, security solutions, collaborative applications, big data and AI, on the other hand, have helped the IT industry recover faster during and after the lockdown.

Market Growth Factors

Growing adoption of data management tools

The massive volumes of data generated in an organization are routed through master data management services and solutions, which store data in a single location and ensure data security. Increasing data turnover requires advanced data quality technology to promote operational excellence. The first step in deploying MDM, the powerful system that allows companies to track information flow and document data transformation phases, is to ensure data quality. Data quality technologies ensure data accuracy, while MDM systems update records and automatically remove redundant data.

Rapid technological advancements in master data management technology

The MDM market is driven by new technologies such as big data, artificial intelligence (AI) and machine learning (ML). This technology enables new data processing and storage capabilities, as well as the availability of large datasets. As the capabilities of new technologies in multi-faceted and multi-domain data processing have grown, customers have a wider range of requirements. The integration of MDM solutions with technologies such as analytics, big data and business intelligence was the most popular request. Duplicate records are found and data quality is assured, two common master data issues.

Market restraining factors

Security and privacy issues

In the contemporary era of expanding data management and maintenance solutions, master data management solutions and services are evolving as the best way to structure and preserve data. However, the growth of this market is constrained by widespread user concerns regarding data security. Organizations are now working in data-driven environments, which increases the risk of advanced cyberattacks, data breaches, and phishing attempts. Due to the spread of data over various systems, several concerns are growing, increasing the security threats to the data.

Main topics covered:

Chapter 1. Market Scope and Methodology

Chapter 2. Market Overview
2.1 Presentation
2.1.1 Presentation Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints

Chapter 3. Competitive Analysis – Global
3.1 Cardinal matrix
3.2 Recent Industry-Wide Strategic Developments
3.2.1 Partnerships, collaborations and agreements
3.2.2 Product launches and product extensions
3.2.3 Acquisitions and mergers
3.2.4 Geographic expansions
3.3 Main winning strategies
3.3.1 Percentage Breakdown of Top Leading Strategies (2018-2022)
3.3.2 Key Strategic Movement (Product Launches and Product Extensions 2018, Feb – 2022, Mar) Key Players

Chapter 4. Global Master Data Management Market by Component
4.1 Global Solutions Market by Region
4.2 Global Services Market by Region

Chapter 5. Global Master Data Management Market by Vertical
5.1 Global BFSI Market by Region
5.2 Global Telecom & IT Market by Region
5.3 Global Manufacturing Market by Region
5.4 Global Retail Market by Region
5.5 Global Government and Public Sector Market by Region
5.6 Global Healthcare & Life Sciences Market by Region
5.7 Global Energy and Utilities Market by Region
5.8 Global Other Verticals Market by Region

Chapter 6. Global Master Data Management Market by Organization Size
6.1 Global Large Enterprise Market by Region
6.2 Global SMB Market by Region

Chapter 7. Global Master Data Management Market by Deployment Mode
7.1 Global On-premises Market by Region
7.2 Global Cloud Market by Region

Chapter 8. Global Master Data Management Market by Region

Chapter 9. Business Profiles
9.1 IBM Corporation
9.1.1 Company Overview
9.1.2 Financial analysis
9.1.3 Regional and sectoral analysis
9.1.4 Research and development costs
9.1.5 Recent Strategies and Developments Partnerships, collaborations and agreements Acquisition and merger
9.1.6 SWOT Analysis
9.2 Oracle Corporation
9.2.1 Company overview
9.2.2 Financial analysis
9.2.3 Sectoral and regional analysis
9.2.4 Research and development costs
9.2.5 Strategies and recent developments Product launches and product extensions Geographic extensions
9.2.6 SWOT Analysis
9.3 SAP OS
9.3.1 Company Overview
9.3.2 Financial analysis
9.3.3 Sectoral and regional analysis
9.3.4 Research and development costs
9.3.5 Strategies and recent developments Product launches and product extensions
9.3.6 SWOT Analysis
9.4 Teradata Company
9.4.1 Company Overview
9.4.2 Financial analysis
9.4.3 Regional Analysis
9.4.4 Research and development costs
9.4.5 Recent Strategies and Developments Product launches and product extensions
9.4.6 SWOT Analysis
9.5 Cloudera, Inc.
9.5.1 Company Overview
9.5.2 Financial analysis
9.5.3 Segmental analysis
9.5.4 Research and development costs
9.5.5 Recent Strategies and Developments Product launches and product extensions
9.6 Tibco Software, Inc. (Vista Equity Partners)
9.6.1 Company Overview
9.6.2 Strategies and Recent Developments Product launches and product extensions
9.7 SAS Institute, Inc.
9.7.1 Company Overview
9.8 Stibo Systems, Inc. (the Stibo Group)
9.8.1 Company Overview
9.8.2 Strategies and recent developments Product launches and product extensions
9.9 Computing, LLC
9.9.1 Company overview
9.9.2 Recent Strategies and Developments Partnerships, collaborations and agreements Product launches and product extensions
9.10. Syndigo, LLC (Riversand)
9.10.1 Company Overview
9.10.2 Strategies and recent developments Partnerships, collaborations and agreements Product launches and product extensions

For more information about this report visit https://www.researchandmarkets.com/r/q2sqkw

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