Vancouver, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The global master data management market size was USD 14.83 Billion in 2021 and is expected to register a revenue CAGR of 15.5% during the forecast period, according to latest analysis by Emergen Research. Rising incorporation of advanced technologies, such as big data and Artificial Intelligence (AI) with Master Data Management (MDM), is driving revenue growth of the market. AI and Machine Learning (ML) are data-hungry processes that are changing the industry.
A cloud-based MDM applies AI and ML to automate data stewardship processes and provides actionable insights to business users. As data volume continues to grow, cloud MDM has to leverage AI and ML techniques to make data management process more convenient. For instance, Semarchy offers a master data management solution called xDM, which uses ML algorithms and provides stewardship and advanced matching, survivorship, curation, and classification.
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However, data privacy and security concerns and implementation challenges are factors hampering revenue growth of the market.
Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 14.83 Billion |
| CAGR (2021–2030) | 15.5% |
| Revenue Forecast to 2030 | USD 53.84 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2021 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Product, light type, application, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | International Business Machines (IBM) Corporation, Oracle, SAS Institute Inc., TIBCO Software Inc., Mindtree, Informatica, Syndigo LLC., Cloudera, Inc., Broadcom, PiLog Group, Pimcore, and Ataccama |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global master data management market is consolidated with a few companies accounting for majority market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective master data management. Some major companies included in the global master data management market report are:
- International Business Machines (IBM) Corporation
- Oracle, SAS Institute Inc.
- TIBCO Software Inc.
- Mindtree
- Informatica
- Syndigo LLC.
- Cloudera, Inc.
- Broadcom
- PiLog Group
- Pimcore
- Ataccama
Strategic Development
- On 24 May 2022, Informatica, which is a global cloud data management leader announced a new innovation to its product and further expanded its collaboration with Microsoft. This product innovation also includes private preview of a SaaS version of Informatica's Master Data Management (MDM) on Microsoft Azure. This will allow joint customer to combine and rationalize huge amount of data from various sources into a single place and will help to generate valuable business insights, which will help to take valuable business information. Informatica's SaaS MDM for Azure will be available for purchase via Azure Marketplace.
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Some Key Highlights From the Report
- The cloud segment is expected to register a rapid growth rate during the forecast period. Large, medium, and small sized organizations are rapidly adopting cloud-based technologies to enhance business efficiency along with economic value. Cloud-MDM offers benefits of Software as a Service (SaaS) while not incurring a cost of hardware and software associated with it and no maintenance to pay.
- The healthcare segment is expected to grow at a steady rate due to rising demand for MDM solutions to organize, manage, and merge patient heath’s records. MDM ensures sharing of accurate and secure information among hospitals, labs, and specialists, which is essential for both patient safety and confidentiality and to provide efficiency and consistency in care. For this, IBM developed InfoSphere portfolio of Master Data Management (MDM) solutions that offer secure and efficient interoperability, which healthcare providers need to manage master data for single or multiple domains.
- The North America market accounted for largest revenue share in 2021 owing to rising innovation in master data management solutions and presence of key market players, such as Oracle, SAS Institute Inc., TIBCO Software Inc., IBM, and others, in the region.
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Emergen Research has segmented the global master data management market based on component, deployment, organization size, verticals, and region:
- Component Outlook (Revenue, USD Billion; 2019–2030)
- Services
- Consulting
- Training & Support
- Others
- Solution
- Integration
- Others
- Services
- Deployment Outlook (Revenue, USD Billion; 2019–2030)
- On-premises
- Cloud
- Organization Size Outlook (Revenue, USD Billion; 2019–2030)
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
- Verticals Outlook (Revenue, USD Billion; 2019–2030)
- Government
- BFSI
- IT & Telecom
- Manufacturing
- Education & Training
- Energy & Utilities
- Healthcare
- Other
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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