Enterprise Data Management Market Size, Share, & Trends Analysis Report By Component (Software, Services), By Services (Managed Services, Professional Services), By Deployment, By End Use, By Region, And Segment Forecasts, 2022 - 2030

Enterprise Data Management Market Size, Share, & Trends Analysis Report By Component (Software, Services), By Services (Managed Services, Professional Services), By Deployment, By End Use, By Region, And Segment Forecasts, 2022 - 2030

Enterprise Data Management Market Growth & Trends

The global enterprise data management market size is expected to reach USD 265.68 billion by 2030 and grow at a CAGR of 14.0% from 2022 to 2030, according to the recent reports of Grand View Research, Inc. The growing need for on-time data delivery and digitalization are the major driving factors for this growth. Enterprise Data Management (EDM) includes various features such as flexibility to choose multiple deployment modes, robust quality controls, and accessible distribution functionalities. It addresses the data availability concerns by procuring data from multiple locations and sources, and storing is in a single common platform. These benefits help businesses and enterprises organize and manage their data better, and enable efficient data-based decision making.

Due to the rising demand for regularly handling massive data generated in companies, enterprise data management solutions are gaining traction. Organizations generate different types of data, including financial information, photos, graphics, videos, inventory numbers, mobile data, and social media data, from various organizational assets. The amount of data collected and processed by organizations that may be used to their advantage is increasing, putting data management high on their agendas. Furthermore, several organizations from many industries have their offices all over the world and their data varies depending on the location of the firms, posing a difficulty for data procurement. As a result, EDM solutions facilitate single-source reporting and multi-user functionality, providing clients with consistent data in all locations.

Enterprise data management solutions streamline business operations and also derive necessary conclusions from data. It also formulates a strategy for business operations ensuring transparency in the overall enterprise system. They also smoothen the data flow and reduce cycle time for various tasks. This brings about efficiency and effectiveness in managing enterprises. By acting as a master data management platform, enterprise data management provides customer data which includes onboarding of new client data to integrate into the internal systems of organizations. Moreover, enterprise data management addresses circumstances where users within an enterprise independently model, manage, store, and source data.

Enterprise Data Management Market Report Highlights

• The professional services segment held the largest market share of over 68.0% in 2021. The segment growth can be attributed to the increasing automation of professional services due to big data analytics and the growing demand for improved mobility among service consultants
• The large enterprise segment accounted for a revenue share of over 67.0% in 2021. The segment growth can be attributed to the rising demand for robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making across large organizations
• The cloud segment held a revenue share of over 52.0% in 2021. The segment growth can be attributed to rapid adoption of cloud-based solutions by organizations as they eliminate the need for periodic manual upgrades and allow users to access data without any hassles irrespective of their location
• The retail and consumer goods segment accounted for a market share of 11.4% in 2021. Companies operating in the retail and consumer goods industries have to fulfill customer expectations and keep the customers aware and update about the latest offerings. The retail industry is focusing on offering personalized products and services which can be conveyed to customers with the help of efficient data management solutions
• The services segment is anticipated to register considerable growth at a CAGR of 15.7% over the forecast period. It helps businesses in reducing operating expenses, enhancing operational efficiency, and focusing on their core competencies. These factors will create the lucrative opportunities for the enterprise data management services over the forecast period
• The Asia Pacific regional market is expected to reach USD 108.9 billion by 2030. The growing popularity of cloud computing and rising need to improve operational efficiency in large enterprises and SMEs are expected to boost the demand for enterprise data management in the region over the forecast period