The growing information and communication industry to spotlight the global Enterprise Data Management, as the market, which could expand around CAGR of 12 % during 2017-2023, reveals Market Research Future in its detailed study. The study also includes that the market would attain maximum valuation of USD 146 Million during the same period of expansion.
Globally, the enterprise data management market is expected to have significant growth over the forecast period. The growth is attributed to surge in regulatory compliances and regulations related to enterprise data is anticipated to be one of the driving factors for the growth of the enterprise data management market.
Market Drivers & Trends
The market for Enterprise Data Management is observing a tremendous growth due to the surge in the demand for risk management solutions and rising need for on-time authentic information. These factors are anticipated to cumulatively drive the growth of enterprise data management market over the assessment period.
At the same time, enterprise data management market is gaining prominence with the amplified need for managing voluminous data generated in an organization daily. The necessity for framing data strategy to gain competitive and strategic advantage is primarily driving the enterprise data management market. Apart from this, the amount of data generated and handled by organizations which they can use for various advantages is rising at a tremendous rate and thus placing data management high on agendas are also to drive the market over the forecast period.
On the flip side, the factors such as data address validation issues, quality of data, and data silos are studied as restraining elements that could hinder the growth of the market in its progression period. Yet, on the same parameter, the growing adoption of enterprise data management by many companies, across the world is creating immense opportunities for the growth of the market. Moreover, the production of Big Data technology is therefore anticipated to assist the EDM market remarkably to grow during the forecast period.
The EDM market size is broadly categorized by the elements of component, organization size, deployment, and end-user.
Segmentation by component: Solutions and services are the segments.
In terms of services: Professional services and managed services are the segments. Among these, the professional services are also bifurcated into implementing & integrating services, training & support services consulting services. Whereas, the solutions segment is further categorized into data warehousing, data security, data governance, data integration, data synchronization, data processing, data quality, and more.
In terms of organization: Large enterprise and small & medium enterprise are the segments.
In terms of deployment: On-cloud and on-premises are the segments.
In terms of end-user: Healthcare, manufacturing, energy & power, BFSI, transportation & logistics, government IT & telecom, are the segments.
Geographically, the enterprise data management market is categorized into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
North America is expected to have a significant growth the enterprise data management market over the forecast period. The U.S and Canada are leading countries in the region owing to the presence of IT giants such as IBM Corporation, Oracle Corporation and many more. Asia Pacific region is expected to be the fastest growing region in enterprise data management market. China, India, Japan, and South Korea are the leading countries in the region. This is due to increase in the number of small and medium enterprises in IT sector adopting cloud computing solutions. Additionally, India is expected to be the fastest growing country in the Asia Pacific region owing to the increasing government initiatives to encourage SMEs in IT sectors.
Marvel companies such as MongoDB (U.S.), Symantec Corporation (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Talend (U.S.), Goldensource (U.S.), Jade Global (U.S.), Mulesoft (U.S.), Oracle Corporation (U.S.), Intel Security (U.S.), Teradata Corporation (U.S.), Accenture (Ireland), SAS Institute Inc. (U.S.), Mindtree (India), Solix technologies Inc. (U.S.), Cognizant (U.S.), Liasion Technologies (Sweden), and Primitive Logic (U.S.) are involved in providing enterprise data management solutions and making the market to grow considerably.
Industry News October 2019:
- Acronis moves squarely to the edge to take more enterprise data management business forward for the future opportunities.
Stardog, the leading enterprise data unification platform, announced about its execution of a Series B round, securing $9 million in financing which is led by Tenfore Holdings with participation from Grotech Ventures, Boulder Ventures, and Core Capital.