Master Data Management (MDM) Market by Application, Drive Mechanism and Region Forecasts to 2023

Market Highlights:

Globally, the master data management (MDM) market is expected to grow from USD 4.08 billion in 2017 to USD 12.43 billion by 2023, at a CAGR of 20.4% during the forecast period. Increasing global need for compliance and verification and the growing size of centrally accumulated data management drives the master data management market during the forecast period. However, issues concerning data security and vulnerability of attacks may hamper the growth of master data management market during the forecast period.

MDM is a system made by an organization to develop single master reference source for all critical organizational data, leading to less redundancy and fewer errors in business processes. In other words, MDM consists of different services, standards, and solutions which helps organizations to manage their master data. This master data consists of critical or confidential information regarding organization’s customers, products, suppliers, and transactions among others. The master data management is mainly used to diversify organizational departments, work roles, and computer applications. Hence, master data management is mostly used in large enterprises as compared to small and medium-sized enterprises. MDM helps organizations to design segmented product line and avoid bad customer experiences. MDM increases operational efficiency of enterprises along with improved decision-making capabilities. MDM enables enterprises to collate and manage master data and utilize it for effective decision making and data analytics. The features of MDM include self-service access to trusted data, consent management, and optimization of master data environments.

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Major Key Players

• SAP SE (Germany),


• SAS Institute, Inc (US),


• IBM Corporation (US),


• Oracle Corporation (US),


• Tibco Software, Inc (US),


• Informatica Corporation (US),


• Teradata Corporation (US),


• Orchestra Networks (US),


• Riversand Technologies, Inc. (US)


• Talend (US)

Globally, the Master Data Management (MDM) Market is expected to grow from USD 4.08 billion in 2017 to USD 12.43 billion by 2023, at a CAGR of 20.4% during the forecast period.

Competitive Analysis

According to the latest trends in the master data management market, most enterprises are expanding their technological capabilities to adopt flash storage technologies and hyper-converged infrastructure. Most of the companies have adopted inorganic strategy to expand their businesses, wherein, partnerships and collaboration accounted for high CAGR, whereas; merger & acquisition accounted for % of the overall key development undergone by the key players in the market.

Regional Analysis

The global market for master data management is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the master data management market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the master data management market during the forecast period. The presence of big players and early adoption of new technologies such as IoT and artificial intelligence (AI) drives the master data management market in North America. The US, Canada, and Mexico are expected to dominate the global master data management market in North America during the forecast period. Healthcare and manufacturing industry drives the master data management market in the North American region.

Europe is expected to record stable growth during the forecast period. BFSI and transportation sector are expected to drive the master data management market in Europe during the forecast period. Rules and regulations for transportation and strict norms related to payment security applied to the BFSI sector drive the transportation & BFSI market in Europe.

Asia-Pacific is expected grow at a faster rate during the forecast period. IT & telecommunication sector drives the master data management market in the Asia-Pacific region. Asia-Pacific is economically and technologically developed region and countries such as China, Japan, and South Korea are expected to dominate the global master data management market in the Asia-Pacific region.

Segmentation

The global master data management market is segmented into type, professional service, deployment, industry, and region.

By type, the market is segmented into customer data, supplier data, product data, and others.

By professional service, the market is segmented into implementation & deployment service, maintenance & support service, and consulting service.

By deployment, the market is segmented into on-premise and cloud.

By industry, the market is segmented into BFSI, IT & telecommunication, healthcare, retail, media & entertainment, transportation and logistics, manufacturing and others.

By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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Intended Audience

• Master Data Management Companies


• Software solution providers


• Network Providers


• System Integrators


• Retail distributor


• Government, financial, and research institutions as well as investment communities


• Analysts and strategic business planners


• Research and consulting firms


• Industries


• System integrators


• Resellers


• Managed service providers


• Cybersecurity consulting firms


• Government agencies


• Application developers

LIST OF TABLES

Table 1 Global Master Data Management Market, By Country, 2018-2023

Table 2 North America: Master Data Management Market, By Country, 2018–2023

Table 3 Europe: Master Data Management Market, By Country, 2018–2023

Table 4 Asia-Pacific: Master Data Management Market, By Country, 2018–2023

Table 5 Latin America: Master Data Management Market, By Country, 2018–2023

Table 6 North America: Master Data Management Market, By Country

Table 7 North America: Master Data Management Market, By Professional Service

Table 8 North America: Master Data Management Market, By Types

Table 9 North America: Master Data Management Market, By Deployment

Table 10 North America: Master Data Management Market, By Industry

Continued……

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