As per this study, the Global Master Data Management Market was valued USD 8.42 BN (by revenue) in 2022 and is anticipated to reach USD 32.17 BN by 2030 with a CAGR of 18.24%.
Master data management is referred to as the tool to manage, categories, synchronize and organize the master data according to the business need. It provides a uniform master reference source for all the crucial and critical business data that results in less errors and redundancy in business process.
Market Dynamics
The increasing need for compliance & verification across the globe is fueling the market growth. Rising adoption of centrally accumulated data management tools is another factor driving the market growth. Also, growing penetration of Internet along with advent of new IoT technologies are further accelerating the market growth. However, issues regarding data security may hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of master data management.
Market Segmentation
The broad master data management market has been sub-grouped into professional service, type, deployment and industry. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Customer Data
- Product Data
- Others
By Application
- Banking, Finance and Insurance
- IT and Telecommunication
- Government and Health Care
- Manufacturing
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for master data management in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Master Data Management Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the master data management market include IBM Corporation, Tibco Software Inc, Oracle Corporation, Teradata Corporation, Riversand, SAS Institute, Informatica, Talend, Stibo System, SAP. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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