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.
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 Stakeholders
- This 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.
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Key Market Segments
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
By Region
- North 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 Players
- SAP SE
- Ataccama
- Broadcom Inc
- IBM
- Informatica Inc.
- Talend
- Amazon Web Services
- Cloud Software Group, Inc.
- Oracle Corporation
- SAS Institute Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MASTER DATA MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: MASTER DATA MANAGEMENT MARKET, BY DEPLOYMENTS MODEL
CHAPTER 6: MASTER DATA MANAGEMENT MARKET, BY ENTERPRISE SIZE
CHAPTER 7: MASTER DATA MANAGEMENT MARKET, BY END USER
CHAPTER 8: MASTER DATA MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the master data management market was valued at $16.8 billion in 2022, and is estimated to reach $74.5 billion by 2032, growing at a CAGR of 16.3% from 2023 to 2032.The term"Master Data Management" (MDM) refers to a thorough procedure for locating, gathering, storing, organizing, and managing an organization's crucial data in order to offer a single point of reference. This information often contains crucial details on consumers, goods, employees, suppliers, and other important entities. The master data management (MDM) market consists of software products, services, and technologies that are intended to assist organizations in efficiently managing and maintaining their vital business data in order to guarantee accuracy, consistency, and dependability throughout the entire firm. With the adoption of MDM solutions, businesses establish a centralized, authoritative source for crucial data, simplifying initiatives for data governance, data quality, and data integration. Furthermore, 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.
On the basis of enterprise size, large enterprise segment dominated the master data management market in 2022 and is expected to maintain its dominance in the upcoming years, owing to aids in enhancing data governance and compliance, enabling businesses to make smarter choices. propels the market growth significantly. However, the small and medium-size enterprise segment is expected to witness the highest growth, owing to utilize advanced data management capabilities without making substantial upfront investments.
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.
The master data management (MDM) market had been significantly impacted by the COVID-19 pandemic. The worldwide health crisis had presented the industry with both possibilities and challenges, despite the overall strength of demand for MDM solutions. The requirement for accurate and trustworthy data management increased, which is one of main effects of COVID-19 on the MDM market. Rapid adaptation was required by organizations in response to changing business conditions, altering consumer behavior, and supply chain disruptions. The significance of having a strong MDM strategy in place to guarantee data consistency across systems and support agile decision-making was brought to light by research. In order to better manage and govern their master data, organizations were investing in MDM solutions. This enabled them to successfully address the challenges presented by the crisis. Many organizations were experiencing budgetary difficulties as a result of the economic uncertainty brought on by the pandemic. This also had an effect on the MDM market, causing some businesses to postpone or scale back their MDM initiatives. To increase operational efficiency and boost business resilience, organizations were anticipated to give data management expenditures top priority when the market started to recover. In addition, as cloud-based MDM solutions grew in popularity, businesses had the chance to save money up front and take advantage of scalability and flexibility, making MDM more accessible even during uncertain economic times.
Technological Trends
Enterprises are becoming more dependent on reliable, real-time data. A centralized, trustworthy source of master data is essential as companies become more data-driven. Master data management (MDM) technology is developing to offer faster and more efficient methods of gathering, storing, and handling master data. To guarantee data consistency and quality, this also involves using sophisticated data integration techniques like data virtualization and extract, transform, and load (ETL) procedures. To make sure that master data is suitable for its intended use, businesses have increased their focus on data quality over the past ten years. This involves installing data quality measures in operation and regularly checking on data quality. Master data management solutions provide a thorough governance architecture to support continuous data validation and remediation within the system and guarantee that only standardized, enhanced, and cleansed data enters the system. Using artificial intelligence (AI) and machine learning (ML) techniques is another technical development in MDM. Organizations are able to benefit important insights from their master data by using AI and ML algorithms, which have the capacity to analyze enormous volumes of data and find patterns and links. This includes the capacity to recognize problems with data quality, spot anomalies, and forecast trends. Additionally, AI and ML are essential for automating MDM procedures like data matching, cleansing, and merging, which saves labour and boosts productivity.KEY FINDINGS OF THE STUDY
By component, the solution segment accounted for the master data management market share in 2022.On the basis of deployment, the on-premise segment generated the highest revenue in 2022.
On the basis of enterprise size, the large enterprise segment generated the highest revenue in 2022.
On the basis of end user, BFSI segment generated the highest revenue in 2022.
Region-wise, North America generated the highest revenue in 2022.
The key players profiled in the master data management market analysis are as SAS Institute Inc., Informatica Inc., Ataccama, Talend, IBM, SAP SE, Broadcom Inc, Cloud Software Group, Inc., Amazon Web Services, and Oracle Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the master data management industry.
Companies Mentioned
- SAP SE
- Ataccama
- Broadcom Inc
- IBM
- Informatica Inc.
- Talend
- Amazon Web Services
- Cloud Software Group, Inc.
- Oracle Corporation
- SAS Institute Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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