Global Master Data Management Market - 2023-2030
Market Overview
The global master data management market reached US$ XX million in 2022 and is projected to record significant growth by reaching up to US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).
Business and IT collaborate in the master data management (MDM) discipline to ensure the consistency, accuracy, semantic consistency, stewardship and accountability of the enterprise's official shared master data assets. Master data management is a technology that gives other business functions a reliable view of a company's data and makes it accessible. Master data, which is the critical business data of an organization and includes information about products, suppliers and customers, must first be defined to comprehend MDM. Enterprise resource planning (ERP), customer relationship management (CRM), enterprise performance management (EPM), product lifecycle management (PLM) and other enterprise applications can all benefit from accurate and well-governed data.
Market Dynamics
Consolidating, organizing and making data accessible across organizations are challenges for enterprises. To successfully implement AI and machine learning projects and, ultimately, to make better data-driven decisions, they need quick, scalable access to customer, product and location data. To meet this challenge, master data management generates quick and scalable insights that improve customer experience, foster innovation, decrease process inefficiencies and proactively identify and mitigate risk. Due to this, there is a high demand for MDM solutions and services across all enterprises due to the growing need to manage consistent data and quickly control customer data.
However, MDM services and software are becoming more popular across all industries and regions. Because each business has unique data needs, master data management finds it challenging to meet organizational requirements. The market growth of MDM will be impeded by the varied data regulatory implications.
The growing use of data management software or tools is driving the MDM market
In this digital world, data is one of the most valuable assets for any company. Due to the recent data volume increase, businesses need help managing data effectively. Businesses that want to make the best use of their data can achieve this with the support of master data management. Key advantages of master data management, such as improved data quality, increased accuracy, avoidance duplication and reduced cost & time, support the growth of the global master data management market.
Additionally, the inclusion of advanced technologies with master data management tools bolsters the growth of the global master data management market.
COVID-19 Impact Analysis
The COVID-19 pandemic has severely impacted every industry. Interestingly, the lockdowns and quarantines that hindered other industries did not significantly impact the IT sector. The importance of competent IT solutions increased as businesses rushed to set up work-from-home networks to maintain their operations. The pandemic has slowed the market's expansion. Due to the extent of the pandemic, businesses needed to continue operating, so work-from-home models were developed. The demand for the MDM market has increased due to wfh's rising popularity. Cloud computing's rapid uptake during the pandemic has highlighted its significance for business continuity with remote workforces and encouraged companies to adopt online productivity and collaboration tools. The cloud is now an essential part of business continuity and organizational growth. However, due to the increasing adoption of cloud-based technologies, security software and AI, the IT industry recovered quickly during and after the lockdown.
Segment Analysis
The global master data management market is classified based on component, deployment, organization size, end-user and region.
Due to the growing adoption of cloud-based technologies, the global MDM market is growing significantly
Modern cloud-based MDMs must use AI and ML techniques to automate data supervision procedures and give business users useful insights. With the rise in data volumes, AI and ML will be very useful tools to improve the convenience of the data management process. While flexibility, agility and cost savings are important considerations, a business also assesses the maturity of cloud-based solutions regarding data security and capability. Cloud networking provides remote working without any need for office space and infrastructure. Above mentioned factors drive the global demand for the master data management market.
Furthermore, the higher demand for master data management software in the BFSI industry is fueling market growth.
Geographical Analysis
The global master data management market is classified based on component, deployment, organization size, end-user and region.
Key players’ Strong domestic and global presence across North America bolsters the demand for the master data management market
The strong R&D spending and development of new technologies across the region are expected to drive the MDM market. North America holds most of the master data management market shares. The global MDM market will expand further with the strong regional and global presence of master data management’s leading companies, including IBM, Oracle and Informatica Inc.
Competitive Landscape
To strengthen their market position in the global master data management market, key players in the MDM market are focusing on expanding this solution across all geographies to prevent cyber threats. The primary focus areas include technological advancements for new techniques and strategic mergers and acquisitions. Key major players operating in the MDR market are IBM, Oracle, SAP, SAS, TIBCO Software, Informatica, Talend, Cloudera, Riversand and Broadcom.
IBM
Overview: IBM aims to support every facet of an organization's IT requirements. The company's main product lines include hardware, software, consulting and IT services. With operations in 175 nations, IBM has about 350,000 employees. To service its 5,200 clients, which include 95% of the Fortune 500, the company has a robust network of 80,000 business partners. Despite being a B2B company, IBM has a substantial external impact. The company serves across each end-use vertical. The company has its location globally and regionally, which includes U.S., India, Poland, Australia, Brazil, Hungary, Saudi Arabia and Japan.
Product Portfolio
• Master data management for Enterprise: IBM’s master data management benefits include access to self-service, improved efficiency, deep analysis of master data and consent management.
Key Development: In March 2022, IBM updated its InfoSphere MDM Reference Data Management Hub, allowing users to tweak the data they publish using the MDM Publisher function. Users can now filter down to the row level when establishing the data filter criteria that determine which data gets published. Based on the criteria users specify, this feature can be used to slice master data finely.
Why Purchase the Report?
• To visualize the global master data management market segmentation based on component, deployment, organization size, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the global master data management market by analyzing trends and co-development.
• Excel data sheet with numerous data points of master data management market-level with all segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players.
The global master data management market report would provide approximately 69 tables, 69 figures and 225 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Global Master Data Management Market - Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Global Master Data Management Market – Market Definition and Overview
- 3. Global Master Data Management Market – Executive Summary
- 3.1. Market Snippet by Component
- 3.2. Market Snippet by Deployment
- 3.3. Markey Snippet by Organization Size
- 3.4. Markey Snippet by End-User
- 3.5. Market Snippet by Region
- 4. Global Master Data Management Market-Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The growing use of data management software or tools is driving the MDM market
- 4.1.1.2. XX
- 4.1.2. Restraints
- 4.1.2.1. The market growth of MDM will be impeded by the varied data regulatory implications.
- 4.1.2.2. XX
- 4.1.3. Opportunity
- 4.1.3.1. XX
- 4.1.4. Impact Analysis
- 5. Global Master Data Management Market – Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. Global Master Data Management Market – COVID-19 Analysis
- 6.1. Analysis of COVID-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. Global Master Data Management Market – By Component
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 7.1.2. Market Attractiveness Index, By Component
- 7.2. Solution*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Services
- 8. Global Master Data Management Market – By Deployment
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment
- 8.1.2. Market Attractiveness Index, By Deployment
- 8.2. Cloud*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. On-premises
- 9. Global Master Data Management Market – By Organization Size
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Organization Size
- 9.1.2. Market Attractiveness Index, By Organization Size
- 9.2. Large Enterprises*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Small and Medium Enterprises (SMEs)
- 10. Global Master Data Management Market – By End-User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.1.2. Market Attractiveness Index, By End-User
- 10.2. BFSI*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Government
- 10.4. Retail
- 10.5. IT & Telecom
- 10.6. Manufacturing
- 10.7. Healthcare
- 10.8. Energy and Utilities
- 10.9. Other Verticals
- 11. Global Master Data Management Market – By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%) By Organization Size
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%) By End-User
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%) By Organization Size
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%) By End-User
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.7.1. Germany
- 11.3.7.2. UK
- 11.3.7.3. France
- 11.3.7.4. Italy
- 11.3.7.5. Russia
- 11.3.7.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%) By Organization Size
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%) By End-User
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%) By Organization Size
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%) By End-User
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- 11.5.7.4. Australia
- 11.5.7.5. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%) By Organization Size
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%) By End-User
- 12. Global Master Data Management Market – Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Global Master Data Management Market- Company Profiles
- 13.1. IBM*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Key Highlights
- 13.1.4. Financial Overview
- 13.2. Oracle
- 13.3. SAP
- 13.4. SAS
- 13.5. TIBCO Software
- 13.6. Informatica
- 13.7. Talend
- 13.8. Cloudera
- 13.9. Riversand
- 13.10. Broadcom
- LIST NOT EXHAUSTIVE
- 14. Global Master Data Management Market– Premium Insights
- 15. Global Master Data Management Market– DataM
- 15.1. Appendix
- 15.2. About Us and Services
- 15.3. Contact Us
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