The Asia Pacific Master Data Management Market would witness market growth of 16.2% CAGR during the forecast period (2022-2028).
Master data management (MDM) entails combining data from internal and external sources and applications to create a single master record for every customer, location, or asset in a company. This data has been de-duplicated, reconciled, and augmented, resulting in a reliable and consistent source. Once established, this master data functions as a reliable representation of business-critical information that can be maintained and shared across the organization to improve accuracy, decrease data errors, eliminate redundancy, and assist workers in making better business decisions.
MDM is a discipline that focuses on data governance principles in order to create a trusted and authentic picture of a company's data. As organizations place greater emphasis on data-driven decisions in today's marketplace and as an increasing number of systems make a contribution to digital records of places, people, and things that matter most to a business, MDM and data governance have become crucial to effective business practices.
India and China's manufacturing industries are both exceptionally strong, accounting for a significant portion of each country's GDP. The Indian manufacturing industry generated 16-17% of the country's GDP in 2018 and is predicted to be one of the fastest-growing sectors, as per the International Trade Administration. The industrial machinery sector in India was essentially the manufacturing industry's foundation. Technology has encouraged innovation in recent years, with digital transformation, a vital component of creating a competitive edge in this highly competitive industry. In the manufacturing sector, India has always prioritized domestic output and consumption.
The China market dominated the Asia Pacific Master Data Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,127.9 million by 2028. The Japan market would showcase a CAGR of 15.5% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 17% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into BFSI, Telecom & IT, Manufacturing, Retail, Government & Public Sector, Healthcare & Life Sciences, Energy & Utilities and Others. Based on Organization size, the market is segmented into Large On-premise and SMEs. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Master Data Management Market is Projected to reach USD 39.4 Billion by 2028, at a CAGR of 15.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, SAP SE, Teradata Corporation, Cloudera, Inc., Tibco Software, Inc. (Vista Equity Partners), SAS Institute, Inc., Stibo Systems, Inc. (The Stibo Group), Informatica, LLC, Syndigo, LLC (Riversand)
By Component
By Vertical
By Organization size
By Deployment Mode
By Country
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