Enterprise Data Management Market Surges Towards USD 281.9 Billion by 2033 | Trends in Data Governance, Master Data Management
New York, Jan. 30, 2024 (GLOBE NEWSWIRE) -- According to Market.us, The Enterprise Data Management market size is expected to be worth around *USD 281.9 Billion by 2033*, from *USD 97.5 Billion in 2023*, growing at a *CAGR of 11.2%* during the forecast period from 2024 to 2033.
The Enterprise Data Management (EDM) market is a rapidly evolving sector, characterized by the integration and management of data across various enterprises. This market encompasses a range of practices such as data governance, data quality, data integration, data storage, and data security. As businesses increasingly recognize the value of data as a strategic asset, the demand for comprehensive data management solutions is escalating.
The market is driven by the need to handle large volumes of data generated from diverse sources, including internal systems, social media, and Internet of Things (IoT) devices. The proliferation of cloud computing and advanced analytics has further amplified the significance of effective data management.
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*Important Revelation:*
· The global Enterprise Data Management Market is projected to experience significant growth, with a Compound Annual Growth Rate (CAGR) of *11.2%.*
· In 2023, the *Software Segment* held a dominant market position in EDM, capturing over *77.9%* share.
· In 2023, the *Cloud-Based Segment* held a dominant market position in EDM, capturing over *58.4%* share, thanks to scalability and cost-effectiveness.
· *Large Enterprises* held a dominant market position in 2023, capturing over *69.5%* share.
· *North America* dominated the EDM market in 2023, accounting for over *34.7%* share.
· Major industry players in the EDM market include IBM Corporation, Oracle Corporation, SAP SE, Microsoft Corporation, SAS Institute Inc., Amazon Web Services, Inc., and more.
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*Analyst Viewpoint on Driving Factors*
From an analyst's viewpoint, the Enterprise Data Management Market is poised for significant growth, driven by several factors. One of the primary driving factors is the exponential growth of data volumes. Organizations are generating and collecting vast amounts of data from various sources, including internal systems, customer interactions, social media, and IoT devices. The need to manage and derive insights from this data has become crucial for businesses to gain a competitive edge. EDM provides the necessary infrastructure and processes to handle and leverage this data effectively.
Another driving factor is the increasing focus on data governance and compliance. With the advent of data privacy regulations such as GDPR and CCPA, organizations are required to have robust data management practices in place. Enterprise data management solutions enable organizations to establish data governance frameworks, implement data privacy controls, and ensure compliance with regulatory requirements. This aspect has become crucial in maintaining trust with customers and avoiding potential legal and financial repercussions.
Furthermore, emerging technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics present significant opportunities for the Enterprise Data Management Market. These technologies require robust data management capabilities to handle and process large volumes of data effectively. EDM solutions enable organizations to prepare and integrate data for AI and ML algorithms and ensure data quality for accurate and reliable insights.
*Demand for Enterprise Data Management (EDM)*
The demand for Enterprise Data Management (EDM) has witnessed a substantial surge, largely fueled by the escalating need for efficient data handling and analytics in the business landscape. This trend reflects the growing recognition of data as a pivotal asset in driving strategic decisions and operational efficiencies. Factors contributing to this surge include the exponential increase in data volume, diversity, and velocity, stemming from digital interactions, IoT devices, and various digital platforms.
Additionally, the heightened focus on regulatory compliance and data security in the wake of global data protection laws has further underscored the necessity for robust EDM systems. In 2022,* IBM Corporation* revealed an extended collaboration with SAP, embarking on one of the world's most substantial corporate transformation initiatives centered around SAPÒ ERP software.
*Competitive Landscape*
*The competitive landscape of the market has also been examined in this report. Some of the major players include:*
· IBM Corporation
· Oracle Corporation
· SAP SE
· Microsoft Corporation
· SAS Institute Inc.
· Amazon Web Services, Inc.
· Informatica
· Teradata Corporation
· Cloudera, Inc.
· Broadcom Inc.
· LTIMindtree Limited
· Solix Technologies, Inc.
· Other Key Players
*Recent Developments*
· In 2023, *IBM: **AI-powered data catalog:* Launched IBM Watson Knowledge Catalog to automate data discovery, lineage tracking, and governance using AI and machine learning.
· In 2023, *Oracle: **Autonomous Database for data management:* Enhanced Oracle Autonomous Database with data governance and cataloging features, simplifying data management tasks like masking and lineage tracking.
· In 2023, *SAP: **SAP HANA Cloud and Business Data Services:* Focused on offering cloud-based data management solutions with strong integration to SAP's ERP and business intelligence platforms.
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*Scope of the Report*
*Report Attributes* *Details*
Market Value (2023) USD 97.5 Billion
Forecast Revenue 2033 USD 281.9 Billion
CAGR (2024 to 2033) 11.2%
North America Revenue Share 34.7%
Base Year 2023
Historic Period 2018 to 2022
Forecast Year 2024 to 2033
*Report Segmentation*
*Component Analysis*
In 2023, the *Software segment* held a dominant market position in the Enterprise Data Management (EDM) market, capturing more than a *77.9%* share. This substantial market share can be attributed to the escalating demand for sophisticated data management solutions, driven by the exponential growth in data volume and complexity across various industries. Businesses are increasingly reliant on data-driven strategies for operational efficiency and competitive advantage, necessitating robust software solutions for data integration, quality management, and governance. These software tools are essential for ensuring data accuracy, consistency, and accessibility, which are critical for effective decision-making and regulatory compliance.
Furthermore, the shift towards cloud-based solutions has significantly contributed to the growth of the software segment in the EDM market. Cloud-based EDM software offers scalability, flexibility, and cost-effectiveness, making it an attractive option for organizations of all sizes. The integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) in EDM software has further enhanced its capabilities, enabling more efficient data processing, anomaly detection, and predictive analytics.
*Deployment Mode Analysis*
n 2023, the *Cloud-Based segment* held a dominant market position in the Enterprise Data Management (EDM) market, capturing more than a *58.4%* share. This prevalence is primarily driven by the cloud's inherent advantages, such as scalability, flexibility, and cost-efficiency. In the context of EDM, cloud-based solutions offer unparalleled ease in managing vast amounts of data across diverse geographical locations. Organizations can scale their data storage and processing capabilities as needed, without the substantial upfront costs associated with on-premise infrastructure.
Moreover, the increasing adoption of remote working models has amplified the demand for cloud-based EDM solutions. These solutions provide employees with seamless, remote access to data, thereby enhancing collaboration and productivity. Additionally, cloud providers continuously update their platforms with the latest security measures, offering robust protection for sensitive enterprise data against cyber threats. This aspect is particularly appealing to businesses that handle large volumes of critical data but lack the resources to manage complex data security infrastructure in-house.
*Enterprise Size*
In 2023, the *Large Enterprises segment* held a dominant market position in the Enterprise Data Management (EDM) market, capturing more than a *69.5%* share. This significant market share is largely due to the extensive data management needs that large enterprises encounter. These organizations typically deal with vast volumes of data generated from diverse sources, making robust data management systems a necessity for efficient operations. Large enterprises are more likely to invest in comprehensive EDM solutions that offer a broad range of functionalities, such as data integration, data quality, data governance, and analytics, to manage their complex data ecosystems effectively.
Additionally, large enterprises often operate in highly regulated industries, where compliance with data protection and privacy regulations is crucial. This necessitates advanced data management systems capable of ensuring compliance while maintaining data security and privacy. The financial capability of large enterprises also enables them to invest in state-of-the-art EDM technologies, including AI and ML-driven tools, which further enhance their data management capabilities.
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*End-Use Industry*
In 2023, the *IT & Telecommunications segment* held a dominant market position in the Enterprise Data Management (EDM) market, capturing more than a *27.2%* share. This substantial market share can be attributed to the pivotal role that data plays in the IT and telecommunications industry. With the ever-expanding digital landscape and the rapid proliferation of data-generating devices and networks, organizations in this sector rely heavily on effective data management to ensure seamless operations, optimal network performance, and the delivery of high-quality services to customers.
The IT & Telecommunications sector faces unique data challenges, including the need to manage massive datasets, ensure real-time data availability, and enhance network security. EDM solutions tailored to this industry provide the capability to harness and analyze large volumes of data for network optimization, predictive maintenance, and customer experience enhancement. Moreover, data-driven decision-making is integral to IT and telecommunications companies for identifying trends, mitigating network disruptions, and meeting the ever-increasing demands for connectivity.
*Key Маrkеt Segments*
*Component*
· *Software*
· *Services*
· Professional Services
· Managed Services
*Deployment Mode*
· Cloud-Based
· On-Premise
*Enterprise Size*
· Large Enterprises
· Small & Medium Enterprises (SMEs)
*End-Use Industry*
· IT & Telecommunications
· BFSI
· Healthcare
· Manufacturing
· Retail & Consumer Goods
· Government
· Other End-Use Industries
*Regional Analysis*
In 2023, *North America* held a dominant market position in the Enterprise Data Management (EDM) market, capturing more than a *34.7%* share. The region's strong market position can be attributed to factors such as the presence of major technology companies, early adoption of advanced data management solutions, and a mature IT infrastructure. North American organizations have been at the forefront of leveraging data as a strategic asset, driving the demand for EDM solutions. Additionally, stringent data privacy regulations, such as the General Data Protection Regulation (GDPR) in the European Union, have compelled organizations in North America to invest in robust data management practices to ensure compliance.
Europe is another significant region in the Enterprise Data Management market, accounting for a substantial market share. The region's focus on data protection and privacy, coupled with the need for effective data governance, has driven the adoption of EDM solutions. European organizations have been proactively implementing data management strategies to comply with GDPR and enhance their data security practices. The growing emphasis on digital transformation initiatives in various industries, such as finance, healthcare, and manufacturing, has further fueled the demand for EDM solutions in Europe.
*By Geography*
· North America
· The US
· Canada
· Europe
· Germany
· France
· The UK
· Spain
· Italy
· Russia
· Netherland
· Rest of Europe
· APAC
· China
· Japan
· South Korea
· India
· Australia
· New Zealand
· Singapore
· Thailand
· Vietnam
· Rest of APAC
· Latin America
· Brazil
· Mexico
· Rest of Latin America
· Middle East & Africa
· South Africa
· Saudi Arabia
· UAE
· Rest of MEA
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