Published Date: 28-Jul-2022
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According to a new report, published by KBV research, The Global Master Data Management Market size is expected to reach $39.4 billion by 2028, rising at a market growth of 15.6% CAGR during the forecast period.
The Services market shows the high growth rate of 16.4% during (2022 - 2028). Services are critical components for any software's effective operation, and they play a significant role in the MDM industry. The services segment is booming due to the rising demand for cloud-based services along with the increased usage of MDM solutions. Improved operational efficiency, system reliability, and cost control are all aided by effective service delivery.
The BFSI market acquired the maximum revenue share in Global Master Data Management Market by Vertical in 2021, achieving a market value of $12.2 billion by 2028. In this industry, a huge amount of financial data is generated on a regular basis from transactions, including sensitive and detailed financial and transactional data as well as consumer information. Financial institutions, like banks, corporations, and insurance agents, employ MDM measures to maintain this data secure and accurate, as well as for effective management.
The SMEs market is experiencing a CAGR of 17.5% during (2022 - 2028). Small businesses are quickly adopting cloud-based MDM solutions because they enable them to improve operational efficiency, streamline processes, and improve customer experience. SMEs are looking into adopting business intelligence as well as online transaction processing to handle their data.
The On-premise market is leading the Master Data Management Market by Deployment Mode in 2021, achieving a market value of $21.5 billion by 2028. The constantly increasing growth of the segment is attributed to the fact that on-premises deployment allows customers to oversee and manage all parts of the MDM from their own data centers. The typical deployment model for MDM is on-premises deployment, which is currently the recommended method.
The North America market region is leading the Global Master Data Management Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $14.1 billion by 2028. The Europe market would experience a CAGR of 15.2% during (2022 - 2028). Additionally, The Asia Pacific market is showcasing a CAGR of 16.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Organization size
By Deployment Mode
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