Enterprise Data Management Market Share, Industry Growth & Report 2024-2032

IMARC Group's report titled "Enterprise Data Management Market Report by Component (Software, Services), Deployment (Cloud-based, On-premises), Enterprise Size (Small and Medium-sized Enterprises, Large Enterprises), Industries (IT and Telecom, Banking, Financial Services, and Insurance, Retail and Consumer Goods, Healthcare, Manufacturing, and Others), and Region 2024-2032". The global enterprise data management market size reached US$ 77.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 182.5 Billion by 2032, exhibiting a growth rate (CAGR) of 9.95% during 2024-2032.

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Factors Affecting the Growth of the Enterprise Data Management Industry:

• Growing Data Volumes:

The surge in data volumes is driven by digital transformation and the adoption of the Internet of Things (IoT) devices. Businesses generate and accumulate vast amounts of data from various sources, including social media, transactional systems, and sensors. Managing this enormous influx of data requires sophisticated solutions that can store, process, and analyze information efficiently. Enterprise data management (EDM) systems help organizations handle big data by providing robust infrastructure for data storage, integration, and processing. This capability is crucial for turning raw data into actionable insights.   

• Need for Data Integration:

Effective data management requires integrating information from various sources, such as customer relationship management (CRM) systems, enterprise resource planning (ERP) platforms, and external databases. Businesses need a unified view of their data to make informed decisions and achieve strategic goals. EDM solutions address this need by providing data integration capabilities that consolidate disparate data sources into a cohesive system. This integration enables organizations to gain comprehensive insights, streamline workflows, and enhance operational efficiency. By breaking down data silos and facilitating seamless data exchange, EDM systems support better decision-making and drive business success.

• Advancements in Technology:   

Innovations, including cloud computing, artificial intelligence (AI), and machine learning (ML), significantly impact the EDM market. These innovations enhance the capabilities of data management solutions, making them more powerful and adaptable. Cloud computing provides scalable storage and processing power, allowing businesses to manage large volumes of data efficiently. AI and ML technologies enable advanced analytics, automation, and predictive insights, enhancing data-driven decision-making. As these technologies evolve, they drive the development of more sophisticated EDM solutions that offer improved functionality, scalability, and performance.

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Leading Companies Operating in the Global Enterprise Data Management Industry:

• Actian Corporation (HCL Technologies Limited)
• GoldenSource Corporation
• Informatica Inc.
• International Business Machines Corporation
• LTIMindtree Limited (Larsen & Tourbo Ltd.)
• Oracle Corporation
• Qlik, Salesforce Inc.
• SAP SE
• Sas Institute Inc.
• Talend S.A.
• Teradata Corporation

Enterprise Data Management Market Report Segmentation:

By Component:

• Software
  • Data Security
  • Master Data Management
  • Data Integration
  • Data Migration
  • Data Warehousing
  • Data Governance
  • Data Quality
  • Others
• Services
  • Managed Services
  • Professional Services

Software represents the largest segment, which can be attributed to the rising need to manage complex data among companies.

By Deployment:

• Cloud-based
• On-premises

Cloud-based holds the biggest market share as it offers scalability, flexibility, and reduced upfront costs.

By Enterprise Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Large enterprises account for the largest market share due to the increasing demand for customized options.

By Industries:

• IT and Telecom
• Banking, Financial Services, and Insurance
• Retail and Consumer Goods
• Healthcare
• Manufacturing
• Others

IT and telecom exhibit a clear dominance in the market, driven by the rising focus on optimizing operations, preventing data breaches, and enhancing user experiences.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America enjoys a leading position in the enterprise data management market on account of the presence of major technology companies.

Global Enterprise Data Management Market Trends:

Maintaining high data quality and implementing robust data governance practices are essential for accurate reporting and decision-making. Poor data quality can lead to errors, inefficiencies, and misguided strategies. EDM solutions help organizations ensure data accuracy, consistency, and reliability by offering features, such as data cleansing, validation, and governance frameworks. Effective data governance also involves establishing policies and procedures for data management, including roles and responsibilities, data stewardship, and compliance monitoring.   

Compliance with data protection regulations is a major driver for EDM adoption. These regulations mandate strict guidelines for data collection, storage, processing, and sharing, aiming to protect personal and sensitive information. Organizations are ensuring that their data management practices adhere to these legal requirements to avoid hefty fines and legal repercussions.

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