Master Data Management Market By component (Solution, Services), By Deployments Model (On-premise, Cloud), By Enterprise size (Large Enterprise, Small and Medium-sized Enterprise), By End User (BFSI, IT and Telecom, Government, Manufacturing, Healthcare, Retail and E-commerce, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Master Data Management Market was valued for $16,834.49 million in 2022 and is estimated to reach $74,476.52 million by 2032, exhibiting a CAGR of 16.3% from 2023 to 2032. Master data management (MDM) is the process of creating and maintaining a single, accurate, and consistent version of master data throughout an organization. Master data is made up of important corporate data entities such as personnel records, supplier information, and information about customers, products, and suppliers. This master data is standardized, purified, and synchronized across many systems and applications used by the organization with the help of MDM. The main objective of MDM is to give different business units and apps access to a trustworthy and authoritative source of master data. MDM enables businesses to strengthen data governance, remove data duplication, and improve data quality by creating a single version of the truth for master data. As a result, organizations are able to make better decisions, run more efficiently, and improve customer experience. Furthermore, data integration, data quality management, data governance, and data stewardship capabilities are frequently included in MDM solutions. With the aid of these solutions, businesses are able to combine and match master data from various sources, validate and clean it, develop data governance standards, and designate data stewards who are in charge of overseeing and preserving the quality and integrity of master data. MDM solutions be implemented on-premises or in the cloud, and they frequently connect with other business systems including supply chain management (SCM), customer relationship management (CRM), and enterprise resource planning (ERP) systems.
Surge in growing amount and complexity of data and rise in need for data governance and regulatory compliance the major factors that is striking the market growth during the forecast period. However, increasing cost and ROI and rise in culture Barriers posed by organizations is primarily restraining the market growth. Moreover, rise in integration of new technologies is expected to create a lucrative opportunity for the market growth during the forecast period.
Region-wise, the master data management market size was dominated by North America in 2022 and is expected to retain its position during the forecast period, to offers a centralized repository for high-quality, consistent data that is essential for decision-making based on data aiding the growth of the master data management market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to data quality, streamline processes, and boost competitiveness which is expected to fuel the market growth in this region. Furthermore, several major master data management providers including SAS Institute Inc., Informatica Inc., Ataccama, Talend, IBM, Amazon Web Services, and Oracle Corporation, are introducing new products & services to master data management.
Segment review
The master data management market is segmented on the basis of component, deployment mode, enterprise size, end user and region. On the basis of component, it is categorized into solution and services. On the basis of deployment, it is bifurcated into on-premise and cloud. On the basis of enterprise size, it is bifurcated into large enterprise and small and medium-sized enterprises (SMEs). On the basis of end user, it is fragmented into BFSI, IT and telecom, healthcare, retail and e-commerce, government, manufacturing, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the master data management market analysis from 2022 to 2032 to identify the prevailing master data management market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the master data management market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global master data management market trends, key players, market segments, application areas, and market growth strategies.
Upcoming/New Entrant by Regions
Strategic Recommedations
Additional company profiles with specific to client's interest
Expanded list for Company Profiles
Historic market data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
SWOT Analysis
Key Market SegmentsBy componentSolution
Services
By Deployments ModelOn-premise
Cloud
By Enterprise sizeLarge Enterprise
Small and Medium-sized Enterprise
By End UserBFSI
IT and Telecom
Government
Manufacturing
Healthcare
Retail and E-commerce
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersSAP SE
Ataccama
Broadcom Inc
IBM
Informatica Inc.
Talend
Amazon Web Services
Cloud Software Group, Inc.
Oracle Corporation
SAS Institute Inc.
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