New York, USA, Aug. 22, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global enterprise data management market is predicted to generate a revenue of $126.9 billion and grow at 9.3% CAGR over the forecast period from 2019-2026. The extensive report provides a concise outline of the market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2019-2026. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Enterprise Data Management Market
Drivers: Growing need of risk management models among companies and the rising adoption of enterprise data management to control and monitor businesses are some prime factors to drive the growth of the global enterprise data management market during the forecast years.
Opportunities: The growing demand for risk management software and models among organizations is projected to offer ample growth opportunities for the global enterprise data management market during the analysis period.
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Restraints: High accessibility and availability of open source solutions is expected to be the prime impeding factor for the market growth.
Segments of the Enterprise Data Management Market
The report has divided the enterprise data management market into a few segments based on component, deployment mode, industry vertical, and regional outlook.
Component: Software Sub-segment to be Highly Dominant
The software sub-segment is estimated to have the highest growth rate of 8.5% CAGR during the analysis years. This immense growth rate is mainly attributed to the high adoption of enterprise data management software by many startups and small and medium sized businesses to control and monitor their processes. Furthermore, such software help companies elevate their revenue by tracking production that attracts an even larger client base. These factors are anticipated to boost the sub-segment’s growth by 2026.
Deployment Mode: Cloud-based Sub-segment to be Highly Progressive
The cloud-base sub-segment of the enterprise data management market is estimated to have the highest growth rate of 11.4% CAGR during the analysis period. This immense growth rate is attributed to the compelling benefits of cloud-based models like flexibility to handle data, automated backups, and secured data accessibility from anywhere. These factors attract companies to implement cloud-based enterprise management models, thus driving the sub-segment’s growth by 2026.
Industry Vertical: Banking, Financial Services and Insurance Sub-segment to be Most Lucrative
The banking, financial services and insurance sub-segment is anticipated to grow at 10.3% CAGR during the forecast years since the sector handles uncountable data everyday like product and service purchase history, customer information, and financial transactions to keep track of the organization. This results in an increased demand of enterprise data management services among banking, financial services and insurance sector. These factors are expected to bolster the sub-segment’s growth by 2026.
Region: North America Region to Witness Better Growth Opportunities
The enterprise data management market in the North America region is predicted to witness better growth opportunities and grow at 9.8% CAGR during the 2019-2026 analysis timeframe. This immense growth rate is mainly attributed to the presence of large number of experts to handle cloud-based enterprise data management software and their growing emphasis on machine learning and big data.
Key Enterprise Data Management Market Players
Some key enterprise data management market players include
- VMware Inc.
- TierPoint LLC
- NTT Communications Corporation
- Cloudera Inc.
- Microsoft
- SAS Institute Inc.
- IBM Corporation
- HP Development Company L.P.
- Amazon Web Services
- SAP SE, among others.
These major players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market enhancement. – Buy the Full report Here Started at $2999 (Read-Only)
For example, in July 2022, Oracle Corporation, an American computer technology corporation, announced its collaboration with Microsoft Azure, a renowned cloud-computing service operated by Microsoft, to present the availability of Oracle database service on Azure and enable customers to access and monitor Oracle Cloud Infrastructure (OCI) on Azure. Users can also create new applications and monitor data on the same cloud-based software.
The report also sums up many vital aspects including financial performance of the prime players of the market, SWOT analysis, product portfolio, and the latest strategic developments.
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