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.
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
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Occurrence of COVID-19 has enforced a positive impact on the global enterprise data management market growth. Data has become the lifeblood of practically every enterprise in the hybrid reality at the core of those responses and Firms adopting a data management strategy gain a competitive advantage. From heavy reliance on remote work and online interactions to changes in business strategies. Coronavirus pandemic has dramatically impacted how organizations operate. 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 Insights By Demographics
North America regional market held the leading revenue share in 2021. The growth can be attributed to the increasing demand for risk management solutions and the rise in the requirement for on-time authentic information. The continued adoption of these latest technologies by enterprises in the region bodes well for the regional market’s growth. The Asia Pacific regional market is estimated to witness a significant CAGR of 16.5% over the forecast period due to the increasing industry verticals and adoption of big data in the region. Various governments are encouraging software companies to design and develop free and open-source software for managing and accessing a huge volume of data remotely, which is likely to promote the demand for EDM solutions over the forecast period.
Enterprise Data Management Market Competitive Analysis
Market players have been investing significant resources in R&D activities to support growth and enhance their internal business operations. The companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares. The dominant players operating in the market include International Business Corporation; Oracle Corporation; SAP SE.; Cloudera, Inc.; Amazon Web Services (AWS); and Broadcom (Symantec); among others.
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Enterprise Data Management Market Segmentation
Grand View Research has segmented the global enterprise data management market based on component, services, deployment, enterprise size, end use, and region:
- Enterprise Data Management Component Outlook (Revenue, USD Billion, 2017 – 2030)
- Enterprise Data Management Services Outlook (Revenue, USD Billion, 2017 – 2030)
- Enterprise Data Management Deployment Outlook (Revenue, USD Billion, 2017 – 2030)
- Enterprise Data Management Enterprise Size Outlook (Revenue, USD Billion, 2017 – 2030)
- Enterprise Data Management End-use Outlook (Revenue, USD Billion, 2017 – 2030)
- Enterprise Data Management Regional Outlook (Revenue, USD Billion, 2017 – 2030)
- List of Key Players in the Enterprise Data Management Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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