USD 79.7 billion
Enterprise Data Management Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment Mode(On-premises, Cloud), By Organization Size(Small & Medium Enterprise (SME), Large Enterprise), By Industry Vertical(Healthcare and Life Sciences, Banking, Financial Services, And Insurance), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2084 |
Region:
Global |
Published Date: September, 2024
Pages:
165
|Tables:
87
|Figures:
76
Enterprise Data Management Market Insights
Global Enterprise Data Management Market size was valued at USD 93.40 billion in 2022 and is poised to grow from USD 102.28 billion in 2023 to USD 211.39 billion by 2031, growing at a CAGR of 9.5% in the forecast period (2024-2031).
Enterprise data management market is a speedily progressing sector that emphasizes technologies and processes that help govern and manage data in an enterprise. The market is witnessing notable growth as businesses are largely dependent on data-based decision-making and the rising demand for efficient and reliable EDM solutions. In addition, data explosion, regulatory compliance, and heavy cloud adoption. The speedy growth of data from diverse sources, including social media, IoT devices and applications, and cloud computing is increasing the need for stronger data management solutions. Strict data protection standards like CCPA and GDPR need businesses and enterprises to responsibly manage their data, which fuels more funding in enterprise data management. Also, growing cloud adoption has increased the demand for cohesive data management strategies that can effectively manage data in hybrid settings.
Nonetheless, the enterprise data management market is hampered by factors like significant implementation costs, complexity associated with data integration, and data security concerns. The initial investment in these solutions could be high, preventing small and medium businesses from implementing these solutions. Integrating different data systems and sources could be challenging and need more resources, adding to costs and time. Rising concerns regarding data security and breaches vulnerabilities may also hamper the adoption of enterprise data management solutions. Still, the market is anticipated to progress due to opportunities offered by the integration of machine learning and artificial intelligence, automation of data processes, and higher focus on data governance.
US Enterprise Data Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
12.10% CAGR
Global Enterprise Data Management Market ($ Bn)
Country Share for North America Region (%)
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Enterprise Data Management Market Segmental Analysis
Global Enterprise Data Management Market is segmented on the basis of component, deployment mode, organization size, industry vertical, and region. By component market is segmented into software and services. By deployment mode, the market is segmented into on-premises, and cloud. By organization size, the market is segmented into large enterprises, and small & medium-sized enterprises. By Industry Vertical, the market is segmented into healthcare and life sciences, banking, financial services, and insurance, telecom and information technology, retail and consumer goods, media and entertainment, manufacturing, energy and utilities, transportation and logistics, government and defense, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Enterprise Data Management Market Analysis by Component
Based on component, the enterprise data management market is categorized into software and services. The software segment held a notable market share in 2023 and is projected to continue dominance in future as well owing to comprehensive solutions, scalability, and efficiency and automation. software solutions offer multiple functionalities, comprising data quality, data integration, and analytics and governance. This helps to cater to numerous data management needs in one suite. Software can be easily scales to collect the increasing data volume and changing business needs, increasing its appeal for all enterprise sizes. Improved software tools mostly integrate automation features that improve efficiency of data processing and lessen manual interference, thus enhancing productivity.
On the other hand, the services segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to customization, ongoing maintenance and support, and skill development and training. Most businesses demand customized solutions that cater to their data management needs, thus impacting implementation and consulting services. Constant maintenance and support are vital for handling complex data surroundings, making sure that data run efficiently and smoothly. With the evolution of data management practices among businesses, they are also requiring training services to upgrade their skills and implement them in their workplaces for effective use of EDM tools.
Enterprise Data Management Market Analysis by Industry Vertical
Based on industry vertical, the market is segmented into healthcare and life sciences, banking, financial services, and insurance, telecom and information technology, retail and consumer goods, media and entertainment, manufacturing, energy and utilities, transportation and logistics, government and defense, and others. The telecom and information technology segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to growing data volume and processing needs in real-time. Telecom enterprises produce huge quantities of data from network use, consumer interactions, and transactions, which increases the need for strong EDM solutions. The industry needs real-time data processing for uses like network management, customer service, and billing, thus impacting the demand for improved data management solutions.
On the other hand, the banking, financial services, and insurance segment will hold a remarkable market share in the coming years owing to regulatory compliance, risk management and data security, and complex data networks. BFSI institutes witness stern regulations for data privacy and management, thus increasing the need for strong EDM systems for mitigating risks and compliance. The sector also manages sensitive financial data, needing improved data management practices for better protection against fraud and breaches. Moreover, financial organizations manage different data forms from diverse sources, which increases the importance of exhaustive data governance and integration. These factors are propelling the growth of the segment, thus impacting the overall market.
Global Enterprise Data Management Market Size By Component
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Enterprise Data Management Market Regional Insights
North America dominated the market in 2023 and is expected to lead over the forecast period owing to growing innovations and advancements, growing adoption of cloud-based solutions, and strict regulations for data protection. North America is home to numerous prominent innovators and technology companies that fuel the development of improved enterprise data management systems. Businesses operating in the region are also speedily implementing cloud computing for enhanced cloud-based data management solutions. Also, strict protocols for data protection like CCPA and GDPR have increased the focus on efficient and reliable data management practices. The key players profiled in the region include IBM, SAS Institute, Oracle, Informatica, Enterworks, Goldensource, Qlik, and more.
Asia-Pacific is the fastest-growing region in the global enterprise data management market due to speedy digital transformation, mounting data volume, and growing cloud adoption. Most nations in the region are witnessing major digital transformation, which drives the demand for improved data management solutions. Furthermore, the escalating growth of data produced from diverse industries like telecommunications, e-commerce, and finance is demanding strong enterprise data management solutions. Businesses in the region are also actively shifting towards cloud-based solutions. This ultimately fuels the need for integrated EDM solutions and services. The growing chain of startups is also driving innovations in data management techniques, increasing accessibility and customized offerings to the businesses in the region.
Global Enterprise Data Management Market Size By Geography
- Largest
- Fastest
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Enterprise Data Management Market Dynamics
Enterprise Data Management Market Drivers
Data Explosion from Different Sources
- The amplifying data volume produced from different sources like IoT devices, social media, and e-commerce, transaction systems, and mobile applications has exponentially increased. Businesses are demanding efficient and reliable enterprise data management solutions to store, capture, and analyze this data correctly. Businesses are also handling semi-structured, structured, and unstructured data, increasing the importance of improved data management tactics for handling data.
Data-Driven Decision Making to Fuel Market
- Enterprises are currently highly dependent on data analytics for strategic decisions. Reliable enterprise data management solutions assist in offering accessible and accurate data that allows better insights. Businesses can use data and identify industry trends, better understand consumer choices, enhance operations, and offer a major competitive edge. This benefit is notably impacting the growth of the market.
Restraints
Progressing Technology Landscape to Hamper Market Growth
- Speedy technological changes could hamper the growth of the market. The speedy pace of advancements in technologies is challenging for businesses to keep up to their pace and constantly adopt to newer versions. This could possibly offer obsolescence of the current enterprise data management solutions. Enterprises may also hesitate to leverage services from vendors due to issues regarding being locked into the technology, in case of changing market conditions.
Issues with Data Quality
- Businesses are mostly experiencing issues with data quality like inaccuracies, inconsistencies, and incomplete data. This could hamper the effectiveness of initiatives for enterprise data management. Confirming superior quality data needs ongoing attention and resources, which could be a burden for teams who ae already managing multiple responsibilities. This may hinder adoption and ultimately, market growth.
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Enterprise Data Management Market Competitive Landscape
The competitive landscape of the global enterprise data management market is differentiated by the presence of several leading and new entrants that are aimed at offering wide range solutions customized for diverse industry requirements. Leading players profiled in the market like IBM, Informatica, Oracle, SAP, and Microsoft are focusing on data analytics and governance, offering quality tools, and integration with their existing systems to distinguish themselves from others. Several niche companies and startups are entering in sector, expertise in certain domains like data lineage, data quality, and AI-based analytics. Players are also engaged in collaborations and integration and customization to expand their reach and improve service offerings.
Enterprise Data Management Market Top Players Company Profiles
- IBM (US)
- SAS Institute (US)
- Teradata (US)
- Oracle (US)
- SAP SE (Germany)
- Talend (France)
- Symantec (US)
- Cloudera (US)
- Ataccama (Canada)
- Informatica (US)
- Mindtree (India)
- Qlik (US)
- Enterworks (US)
- MapR (US)
- Goldensource (US)
- AWS (US)
- MuleSoft (US)
- Micro Focus (UK)
- Zaloni (US)
- Actian (US)
Enterprise Data Management Market Recent Developments
- In July 2024, Teradata unveiled a novel integration with DataRobot to allow consumers to create AI applications and models with AI capabilities of DataRobot in VantageCloud platform of Teradata. The alliance offers users with extended choice that they can improve applications and models with their preferred technologies.
- In June 2024, IBM and Telefónica Tech declared a fresh collaboration to fuel the installation of data governance solutions, analytics, and artificial intelligence and cater to the constantly evolving and changing needs of businesses.
- In February 2024, SAS Institute and Carahsoft Technology Corp. declared a fresh distribution agreement. With this agreement, Carahsoft will offer SAS Public Sector Distributor. This will increase the availability of the company’s data management solutions, AI, and data analytics to the government agencies of the U.S via various contract vehicles, reseller partners, and government schedules of Carahsoft.
Enterprise Data Management Key Market Trends
- Growing Demand for Cloud-Native Solutions: With growing inclination of businesses towards cloud, the demand for cloud-based data management solutions is considerably rising. These platforms offer flexibility, scalability, and cost-effectiveness enabling organizations to handle huge data quantities with no pressure of on-premises setup. The key benefits comprise easy integration with other applications, reduced IT overhead, and accessibility to be operated from any location.
- Data Compliance and Governance: Growing regulatory needs like CCPA and GDPR, businesses are required to focus on better data governance. This trend emphasizes automated compliance monitoring and control and transparency. Tools for tracking data use and compliance assist businesses to reduce risks and confirm compliance with regulations. Companies are also adopting cataloguing solutions and strong data lineage to offer visibility in data usage and sources.
Enterprise Data Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the enterprise data management market is considerably progressing due to rising number of businesses undergoing digital transformations, growing shift towards cloud-based solutions, and businesses emphasizing data analytics. In addition, the market is propelled by the speedy growth of data from different sources that necessitate strong data management solutions. However, the market is hampered by growing complexity of data integration that could be challenging and need additional resources, concerns for data breaches, and lack of skilled professionals to manage and operate EDM solutions. North America is anticipated to lead the market due to robust investment in data analytics, speedy adoption of cloud-based services, and availability of skilled workforce. Nonetheless, a few opportunities for the growth of the enterprise data management market include progressing economies that understand the importance of data management, growing automation of data processes, and collaborations and partnerships.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 93.40 billion |
| Market size value in 2031 | USD 211.39 billion |
| Growth Rate | 9.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Enterprise Data Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Enterprise Data Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Enterprise Data Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Enterprise Data Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Enterprise Data Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Enterprise Data Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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