Global Enterprise Data Management Market to Continue on its Pandemic-Period Growth Trajectory at a Fascinating CAGR of 10.8% in the 2022-2031 Timeframe [280-Pages] | Described by Research Dive
The global enterprise data management market is expected to grow primarily due to increased usage of data management applications in different organizations. Software sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031.
NEW YORK, April 21, 2023 /PRNewswire/ -- Global Enterprise Data Management Market Forecast Analysis:
As per the report published by Research Dive, the global enterprise data management market is expected to register a revenue of $224,520.1 million by 2031 at a CAGR of 10.8% during the forecast period 2022-2031.
Segments of the Enterprise Data Management Market
The report has divided the market into the following segments:
- Component Type: software and services
- Software – Most dominant by 2031
The increased solutions adoption among small and medium-sized enterprises (SMEs) is expected to make the sub-segment a highly dominant one in the forecast period.
- Product Type: data security, Master Data Management(MDM), data integration, data migration, data warehousing & business, and others
- Data Security – Highest revenue in 2021
Increasing use of enterprise data management systems to oversee data security processes and standards is expected to augment the growth rate of the market in the 2022-2031 timeframe.
- Deployment Type: on-premises and cloud
- On-premises – Highest market share in 2021
Growing on-premises deployment of enterprise data management for control, use and access to all hardware and software in the organization is predicted to push the sub-segment forward.
- Organization Size: large enterprise and small & medium-sized enterprises
- Large Enterprise – Most profitable in 2021
Rising adoption of enterprise data management by large enterprises to implement business solutions with the help of high-tech tools is predicted to boost the growth of this sub-segment.
- End-use Industry: healthcare, Banking, Financial Services, & Insurance sector (BFSI), telecom & information technology, retail & consumer goods, media & entertainment, government & defense, and others
- Banking, Financial Services, & Insurance Sector (BFSI) – Most lucrative in 2021
Since banks and financial institutions generate a lot of data, they require enterprise data management systems for analyzing and processing this data. The increased demand for data management technologies is expected to propel the sub-segment forward.
- Region: North America, Europe, Asia-Pacific, and LAMEA
- North America – Significant market share in 2021
The rapid growth of small, medium, and large organizations in this region is anticipated to push forward the market.
Access to the Complete PDF Sample of the Enterprise Data Management Market
Dynamics of the Global Enterprise Data Management Market
The growing usage of data management applications in different organizations across the globe is expected to make the enterprise data management market a highly profitable one in the forecast period. Additionally, rising adoption of advanced data management tools across large enterprises is predicted to propel the market forward. However, according to market analysts, increase in accessibility and easy availability of open-source solutions might become a restraint in the growth of the market.
Growing adoption of cloud-based models by various enterprises is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, rising adoption of advanced data management tools by medium sized enterprises is expected to propel the enterprise data management market forward in the coming period.
COVID-19 Impact on the Global Enterprise Data Management Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The enterprise data management market, however, has been an exception. Enterprise data management systems were primarily used during the pandemic to track the travel patterns of Covid-19 infected individuals and identify and quarantine those individuals who came in contact with the patient. This growth in demand for enterprise data management systems helped the market to surge ahead during the pandemic.
Key Players of the Global Enterprise Data Management Market
The major players of the market include
- NTT Communications Corporation
- Cloudera Inc.
- TierPoint LLC.
- IBM Corporation
- HP Development Company L.P.
- VMware Inc.
- SAP SE
- Microsoft
- Amazon Web Services Inc.
- SAS Institute Inc
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.
For instance, in August 2022, Truist Financial Corporation, a banking holding company, announced the acquisition of Zaloni's Arena platform. Zaloni is a leading data management solutions provider, and this acquisition is predicted to help Truist to expand its market share substantially in the near future.
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Enterprise Data Management Market:
- Tracing the Role of Enterprise Data Management Systems in Work-From-Home Culture
- Global Enterprise Data Management Market to Experience Noteworthy Growth by 2031 with the Rising Integration of Advanced Technologies in Data Management Solutions
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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