Market Research Future published a half-cooked research report on global master data management market research report — forecast till 2030.
Master data management (MDM) is a technology-enabled discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, and security of data used throughout an organization. MDM involves creating a single master record for each person , place, or thing in a business, from across internal and external data sources. It includes the tools and processes an organization uses to establish a single source of truth for all its critical data . Through master data management, organizations can gain insights from their data, improve customer experience, and reduce costs.
Mounting demands for operational excellence and data quality and growing requirements for verification and compliance drives the master data management market during the forecast period. Globally, the master data management (MDM) market is expected to grow from USD 4.08 billion in 2017 to USD 24.2 billion by 2030, at a CAGR of 16.85% during the forecast period 2022 - 2030
Market Highlights
Master data management is a set of procedures, policies, and systems that collectively match organizations key elements allowing the entire organization to operate effectively. MDM solution synchronizes master data locked inside the applications across the organization and finds the key data that accurately represents the business entities such as employees, products, facilities, and customers.
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Key Players:
The prominent players in master data management market are SAP SE (Germany), SAS Institute, Inc. (US), IBM Corporation (US), Oracle Corporation (US), Tibco Software, Inc. (US), Informatica Corporation (US), Teradata Corporation (US), Orchestra Networks (US), Riversand Technologies, Inc (US), Talend (US) among others.
Regional Analysis
The global market for master data management is estimated to grow at a significant rate during the forecast period from 2022 to 2030. The geographical analysis of the master data management market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the master data management market during the forecast period. The presence of big players and early adoption of new technologies such as IoT and artificial intelligence (AI) drives the master data management market in North America. The US, Canada, and Mexico are expected to dominate the global master data management market in North America during the forecast period. Healthcare and manufacturing industry drives the master data management market in the North American region.
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Europe is expected to record stable growth during the forecast period. BFSI and transportation sector are expected to drive the master data management market in Europe during the forecast period. Rules and regulations for transportation and strict norms related to payment security applied to the BFSI sector drive the transportation BFSI market in Europe.
Asia-Pacific is expected grow at a faster rate during the forecast period. IT telecommunication sector drives the master data management market in the Asia-Pacific region. Asia-Pacific is economically and technologically developed region and countries such as China, Japan, and South Korea are expected to dominate the global master data management market in the Asia-Pacific region.
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