Master Data Management, 2019 - Worldwide Market Analysis & Outlook by Component, Data Type, Deployment Type, Organization Size, Vertical and Region to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 15, 2019--The “Master Data Management Market by Component, Data Type, Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The master data management market is projected to grow from 9.5 billion in 2018 to USD 22 billion by 2023, at a CAGR of 18.3% from 2018 to 2023.
The market growth is driven by various factors, such as the increasing use of data quality tools for data management and the rising need for compliance. However, data security concerns can hinder the growth of the market.
By component, the solutions segment is estimated to hold a larger market size than the services segment in 2018
Increased demand for data integration & migration and data governance solutions from enterprises is driving the solutions segment. Master data management solutions are increasingly adopted by organizations to effectively and efficiently manage the growing volume of data to enhance productivity and maintain business continuity.
The proliferation of data forced IT companies, such as IBM, SAP, Oracle, and Informatica, to develop and design master data management solutions as well as help the IT team simplify and manage master data. Vendors in the market are offering master data management solutions, thereby facilitating automated management of master data without human intervention.
By deployment type, the cloud segment is expected to register a higher growth rate than the on-premises segment during the forecast period
Cloud-based software offers a centralized way to secure sensitive data across organizations. Moreover, cloud-deployed software reduces the cost associated with upgrading and updating software, in comparison to the costs associated with on-premises deployed software, as the extra cost is incurred by the service providers in the cloud-deployed format. This is also one of the factors fueling the growth of the cloud segment.
The Asia Pacific market is expected to register the highest growth rate during the forecast period
The Asia Pacific is estimated to be the fastest-growing market for master data management. This growth is attributed to the presence of rapidly growing economies, such as China, Japan, Australia, and India.
There has been a significant increase in the adoption of master data management solutions in these countries to cater to the needs of data quality and governance in large enterprises and SMEs of the region. Rapid economic development, globalization, and the increased adoption of data regulatory practices are expected to drive the growth of the master data management market in the Asia Pacific region.
DriversIncrease in the Use of Data Quality Tools for Data Management Rising Need for Compliance
RestraintsData Security Concerns
OpportunitiesIncorporation of New Technologies with Master Data Management Trend Towards Multi-Domain Master Data Management
ChallengesDiversified Data Regulations & Legislation Across Different Verticals & Regions
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
2 Research Methodology
2.1 Research Data
2.2 Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Master Data Management Market
4.2 Market Size By Component, 2018
4.3 Market Size By Organization Size, 2018-2023
4.4 Market Size By Vertical, 2018-2023
4.5 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Market Dynamics
5.2 Industry Trends
6 Master Data Management Market, By Component
7 Master Data Management Market, By Data Type
7.2 Customer Data
7.3 Product Data
7.4 Supplier Data
7.5 Location Data
7.6 Asset Data
8 Master Data Management Market, By Deployment Type
9 Master Data Management Market, By Organization Size
9.3 Large Enterprises
10 Master Data Management Market, By Vertical
10.5 IT and Telecom
10.7 Energy and Utilities
11 Master Data Management Market Analysis: By Region
11.2 North America
11.4 Asia Pacific
11.5 Middle East & Africa (MEA)
11.6 Latin America
12 Competitive Landscape
12.1 Microquadrant Overview
12.2 Market Ranking for the Master Data Management Market, 2018
12.3 Competitive Benchmarking
13 Company Profiles
13.4 SAS Institute
13.8 Tibco Software
13.11 Profisee Group
13.14 Stibo Systems
For more information about this report visit https://www.researchandmarkets.com/research/58x65q/master_data?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190215005150/en/
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Related Topics:Data Storage and Management
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT
SOURCE: Research and Markets
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PUB: 02/15/2019 05:00 AM/DISC: 02/15/2019 05:01 AM