Master Data Management (MDM) Solutions Market to grow by USD 17.27 billion between 2021 - 2026 | Growth Driven by increasing volume and complexity of data - Technavio

NEW YORK, Sept. 15, 2023 /PRNewswire/ -- The Master Data Management (MDM) Solutions Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the master data management (MDM) solutions market between 2022 and 2026 is USD 17.27 billion. The increasing volume and complexity of data is one of the key factors driving the growth of the market. The increasing volume of data and the rapid growth in data complexity in organizations have increased the demand for various intelligence-based data analysis techniques. Technologies such as ML and AI can help companies retrieve a huge amount of complex data in a useful manner and use them to enhance their services and business processes. In addition, the need to process unstructured data into valuable information is driving businesses to increasingly adopt MDM solutions, which is driving the growth of the market in focus. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

• Market Challenge -  Data privacy and security concerns remain a challenge in driving the growth of the market. The rising adoption of connected technologies has increased the risk of cybersecurity issues and data breaches. Earlier, cybersecurity was concentrated on a limited number of connected devices. However, with the IoT revolution, there will be a large-scale combination of both physical and virtual worlds in the future. Potential economic loss from cyber-attacks in industries is significant compared with privacy breaches of personal data. Therefore, cyber-attacks can hamper the sensor and device data in an industrial setup, as these devices are connected over the Internet and can be easily hacked. Such challenges are expected to reduce the growth potential in the market. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The master data management (MDM) solutions market has been segmented by End-user (BFSI, Healthcare, Retail, and Others) and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The BFSI sector is the major end-user in the market. The segment is driven by the need for MDM solutions to increase revenue, meet regulatory compliance, achieve customer-centricity, and reduce operating costs. In addition, the complete digitalization of all core banking and insurance processes and the increasing volume of data generated by the BFSI industry are increasing the adoption of MDM solutions.
• North America will be leading the market growth during the forecast period. The region contributed to 30% of the global market growth. The enterprises in the region have been increasing their IT budget for cloud-based solutions for the past few years. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the master data management (MDM) solutions market:

Ataccama Corp., Contentserv Group AG, Informatica LLC, International Business Machines Corp., Magnitude Software Inc., Micro Focus International Plc, Mindtree Ltd., Oracle Corp., Profisee Group Inc., Reltio Inc., SAP SE, SAS Institute Inc., Semarchy, Stibo Systems, Syndigo LLC, Talend SA, Teradata Corp., TIBCO Software Inc., Veeva Systems Inc., Winshuttle LLC

Related Reports:

The business process management (BPM) training market size is estimated to grow at a CAGR of 12.77% between 2022 and 2027. The market size is forecast to increase by USD 1,951.75 million.

The Plant Asset Management (PAM) market size is estimated to grow at a CAGR of 7.09% between 2022 and 2027. The market size is forecast to increase by USD 2,016.89 million.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/master-data-management-mdm-solutions-market-to-grow-by-usd-17-27-billion-between-2021---2026--growth-driven-by-increasing-volume-and-complexity-of-data---technavio-301928641.html

SOURCE Technavio

[ Back To TMCnet.com's Homepage ]