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Rapid advancements and innovation in master data management solutions is a key factor driving market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, September 14, 2022 /EINPresswire.com/ — The Global Master Data Management Market size was USD 14.83 Billion in 2021 and is expected to register a revenue CAGR of 15.5% during the forecast period, according to latest analysis by Emergen Research. Rising incorporation of advanced technologies, such as big data and Artificial Intelligence (AI) with Master Data Management (MDM), is driving revenue growth of the market. AI and Machine Learning (ML) are data-hungry processes that are changing the industry. A cloud-based MDM applies AI and ML to automate data stewardship processes and provides actionable insights to business users. As data volume continues to grow, cloud MDM has to leverage AI and ML techniques to make data management process more convenient. For instance, Semarchy offers a master data management solution called xDM, which uses ML algorithms and provides stewardship and advanced matching, survivorship, curation, and classification.
However, data privacy and security concerns and implementation challenges are factors hampering revenue growth of the market.
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The report also studies the key companies of the Master Data Management market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some players analyzed in the report are:
International Business Machines (IBM) Corporation, Oracle, SAS Institute Inc., TIBCO Software Inc., Mindtree, Informatica, Syndigo LLC., Cloudera, Inc., Broadcom, PiLog Group, Pimcore, and Ataccama.
Some Key Highlights From the Report
The cloud segment is expected to register a rapid growth rate during the forecast period. Large, medium, and small sized organizations are rapidly adopting cloud-based technologies to enhance business efficiency along with economic value. Cloud-MDM offers benefits of Software as a Service (SaaS) while not incurring a cost of hardware and software associated with it and no maintenance to pay.
The healthcare segment is expected to grow at a steady rate due to rising demand for MDM solutions to organize, manage, and merge patient heath’s records. MDM ensures sharing of accurate and secure information among hospitals, labs, and specialists, which is essential for both patient safety and confidentiality and to provide efficiency and consistency in care. For this, IBM developed InfoSphere portfolio of Master Data Management (MDM) solutions that offer secure and efficient interoperability, which healthcare providers need to manage master data for single or multiple domains.
The North America market accounted for largest revenue share in 2021 owing to rising innovation in master data management solutions and presence of key market players, such as Oracle, SAS Institute Inc., TIBCO Software Inc., IBM, and others, in the region.
On 22 February 2022, Oracle updated Oracle Enterprise Data Management, which will enable EDM users to obtain assistance or feedback from others. This update also contains specific information about nodes, properties, relationships, and failure messages.
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Emergen Research has segmented the global master data management market based on component, deployment, organization size, verticals, and region:
Component Outlook (Revenue, USD Billion; 2019–2030)
Services
Consulting
Training & Support
Others
Solution
Integration
Others
Deployment Outlook (Revenue, USD Billion; 2019–2030)
On-premises
Cloud
Organization Size Outlook (Revenue, USD Billion; 2019–2030)
Large Enterprises
Small and Medium-Sized Enterprises (SMEs)
Verticals Outlook (Revenue, USD Billion; 2019–2030)
Government
BFSI
IT & Telecom
Manufacturing
Education & Training
Energy & Utilities
Healthcare
Others
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Regional Outlook (Revenue, USD Billion; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Master Data Management market?
What are the key product types and applications of the Master Data Management industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Master Data Management market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Master Data Management Market by 2030?
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