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Master Data Management Market By Component (Solution, Service), By Data Type (Asset Data, Customer Data, Location Data, Product Data, Supplier Data), By Deployment (On-Premise, Cloud), By Application (Government, Manufacturing, Telecom & IT, Retail, Healthcare, Energy & Utility, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The Growing Need to Manage Data More Effectively is Driving the Growth of the Master Data Management Market

Globally, the master data management market is expected to grow with a CAGR of 17.5% during the forecast period from 2019 to 2027, starting from US$ 9.28 Bn in 2018. The market is driven by the growing need among organizations to manage their master data more effectively. Master data is critical and confidential data for enterprises generally related to customers, suppliers, financials, and products. As digitalization across enterprises is increasing very rapidly and the sources of data generation are also growing in abundance, enterprises are finding it difficult to cope with this explosion of data with their traditional data management system. This is encouraging the enterprises to move towards more data agile infrastructure and driving the demand for master data management solutions.

The growing adoption of IoT sensors and the cloud computing platform is also a major driver of the market's growth. Moreover, the integration of intelligent algorithms into the master data management solution is augmenting the market growth. However, the reluctance of enterprises to move toward new master data management solutions is hindering market growth. Furthermore, the low awareness of the solutions among the enterprises is also a major restraint in the market's growth.

Market Synopsis

Cloud Deployment Model is Estimated to Grow Significantly During the Forecast Period  

The master data management market is segmented on the basis of deployment into on-premise and cloud deployment models. The on-Premise deployment model accounted for more than 70% of the revenue in 2018. The growth of the market is attributed to the robust security offered by the on-premise model. On the other hand, the cloud deployment model is estimated to grow significantly during the forecast period. The market is driven by the cost-effective nature of the cloud deployment model. Moreover, the scalability and flexibility offered by the model also serve as a major driver for the growth of the market.

North America is Leading the Master Data Management Market                  

North America accounted for more than 40% of the master data management market in 2018. The growth of the market is credited to the wide-scale adoption of cloud computing technology across the region. Furthermore, increasing digitalization across enterprises is also augmenting the demand for the master data management solution in the region. The presence of major market players such as IBM and Oracle in the region is also a major driver of the market's growth.

The key players in the master data management market are EnterWorks, Informatica, IBM Corporation, Oracle Corporation, Reltio, Profisee Group, Riversand, SAS Institute, SAP SE, Semarchy, SyncForce, Stibo Systems, Talend, TIBCO Software, and Teradata.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The master data management market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global Master Data Management market based on component, data type, deployment, application, and geography.

Frequently Asked Questions:

The market for Digital Content Creation is expected to reach US$ 10,781.0 Mn by 2027.

TheMaster Data Management Market is expected to see significant CAGR growth over the coming years, at 16.5%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

EnterWorks, IBM Corporation, Informatica, Oracle Corporation, Profisee Group, Relito, Riversand are some of the major players in the global market

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Godaddy
Published Date:  Nov 2019
Category:  IT & Telecom
Report ID:   60034
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
Delivery Time: 24 Hours to 48 Hours   
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