Master Data Management Overview: Master Data Management Size And Forecast
According to Planet Market Reports, the global master data management market was valued at USD 9.75 Billion in 2018 and is projected to reach USD 39.35 Billion by 2026, growing at a CAGR of 19.1% from 2019 to 2026.
The latest survey on Global Master Data Management is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunities available and trend in the Master Data Management. The report bridges the historical data from 2013 to 2018 and forecasted till 2026. The report aims to present the analysis of Global Master Data Management By Procedure, By Gender, By Service Provider, By Region – North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities.
What is Master Data Management?
Master data management (MDM) is a method used by business or enterprises to link all of its critical data to a common point of reference. When properly done, MDM improves data quality while streamlining data sharing across personnel & departments. Master Data Management helps an organization to improve business process, facilitate privacy management, manage threats and risk, reduce labor cost, and optimize process.
Global Master Data Management Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Earlier, industries like financial, healthcare & retail were the one using MDM but now more & more industries like telecommunication, consumer packed good and manufacturing have begun to implement MDM programs because of compliance requirement, product information rationalization and risk management. Automation and AI will help organization to perform predictable master data task without error, identify duplicate records, assure data quality and enable new kind of master data application to create more modern customer value. The demand for multi domain MDM, machine learning and AI in MDM will boost the growth of the market. The lack of awareness about MDM and concerns regarding data security are the factors hindering the growth of market.
Planet Market Reports narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Master Data Management” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Master Data Management Competitive Landscape
The “Global Master Data Management Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as IBM Corporation, Tibco Software Inc, Oracle corporation, Teradata Corporation, Riversand, SAS Institute, Informatica, Talend, Stibo System, and SAP. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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