According to the new market research report "Enterprise Data Management Market by Component (Software (Data Security, Data Integration, Data Migration, and Data Quality) and Services) Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets, the global enterprise data management market size is expected to grow from USD 77.9 billion in 2020 to USD 122.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period. The key factors driving the enterprise data management market include enterprises focusing on improving their customer experiences, accelerating their analytical and transactional operations, and making faster business decisions using the insights derived from the data. The different components of data management market include data security, master data management, data integration, data migration, data warehousing, data governance, and data quality.
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Data security software to hold the largest market size during the forecast period
Data security is a key concern for enterprises as the threat to enterprise data can lead to loss of integrity, availability, and confidentiality of data. It also ensures end-to-end security of data and protection of data from data intrusion by an unauthorized entity. Data quality software to grow at the highest CAGR during the forecast period. To maintain data quality and to ensure business continuity, it is important to develop a data quality framework, which is driving the growth of data quality in enterprise data management market.
Banking, Financial Services and Insurance to hold the largest market size during the forecast period
The Banking, Financial Services and Insurance (BFSI) industry vertical has been a competitive industry vertical that focuses accurate data for making efficient business decisions. Using enterprise data management solutions in the banking industry vertical is important to handle the data efficiently and ensure the consistency of data. It has become a necessity to keep up with the competition. With the help of enterprise data management, the BFSI sector can fulfil regulatory imperatives, and deploy predictive models for risk and customer analytics.
North America to hold the largest market size during the forecast period
North America is expected to account for the largest market size in the enterprise data management market by region during the forecast period. The region houses many key vendors, such as Microsoft, IBM, SAS Institute, SAP, Informatica, Teradata, and Cloudera. Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period with increasing big data across all the industry verticals. APAC constitutes major economies, such as China, Singapore, and Japan, which are expected to register high growth in the enterprise data management market. The verticals such as manufacturing, healthcare and life sciences, and energy and utilities are expected to rapidly adopt enterprise data management and services in the region.
The enterprise data management market comprises major solution providers, such as IBM Corporation (US), SAS Institute Inc. (US), Teradata Corporation (US), Oracle Corporation (US), SAP SE (Germany), Talend (US), Symantec (US), Cloudera, Inc. (US), Ataccama (Canada), Informatica (US), Mindtree Limited (India), Qlik (US), EnterWorks, Inc. (US), MapR (US), GoldenSource Corporation (US), Amazon Web Services, Inc. (US), MuleSoft, LLC. (US), Micro Focus International plc (UK), Zaloni, Inc. (US), and Actian (US). The study includes the in-depth competitive analysis of the key players in the enterprise data management market with their company profiles, recent developments, and key market strategies.
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