North America Master Data Management Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By Vertical, By Organization size (Large On-premise and SMEs), By Deployment Mode, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Master Data Management Market would witness market growth of 15.1% CAGR during the forecast period (2022-2028).
MDM solutions, as a technology, automate the governance, management, and sharing of business-critical data across applications leveraged by lines of business, departments, brands, and organizations. To build master records, MDM uses reconciliation, data integration, enrichment, quality, and governance. Data is identified, matched, and merged across systems using automation and artificial intelligence (AI), and then the clean data is provided with systems, applications, and analytics that require it.
MDM can correct for errors in records, identify where the data comes from, and generate an audit trail of modifications when merging information. Transparency inside a secure framework enables visibility into the creation and modification of each master record. The master record holds information on key properties that an organization needs to know in order to complete a task or action, including a service calls, marketing campaigns, or a sales conversation.
The regional countries' healthcare sectors are well-established, and new technologies are expected to be introduced in the coming years. The National Health Expenditure Accounts are the official estimation of overall healthcare spending in the United States. As per the Centers for Medicare & Medicaid Services (NHEA). The NHEA, which was established in 1960, keeps track of annual spending on healthcare services and goods, public health activities, government administration, the net cost of health insurance, as well as healthcare investment in the United States.
The US market dominated the North America Master Data Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,175.6 million by 2028. The Canada market is poised to grow at a CAGR of 17.7% during (2022 - 2028). Additionally, The Mexico market is experiencing a CAGR of 16.7% 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 U.S., Mexico, Canada, and Rest of North America.
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)
Scope of the Study
Market Segments Covered in the Report:
- Telecom & IT
- Government & Public Sector
- Healthcare & Life Sciences
- Energy & Utilities
By Organization size
- Large On-premise
By Deployment Mode
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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)
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