What is the key element of enterprise data management edm?

The key element of enterprise data management (EDM) is data governance. Data governance is the set of policies, processes, and structures that ensure that data is managed effectively within an organization. It includes activities such as data quality management, data security, and data compliance.

What is better enterprise data management or iaas?

Enterprise data management (EDM) and Infrastructure as a Service (IaaS) are two different approaches to managing data. EDM is a holistic approach that encompasses the entire data lifecycle, from collection to storage to analysis. IaaS is a more focused approach that provides the underlying infrastructure for storing and managing data.

What are the challenges in achieving enterprise data management?

Achieving enterprise data management can be challenging due to various factors. Some of the main challenges include ensuring data quality, integrating data from different sources, protecting data security, establishing data governance policies, designing a scalable data architecture, developing data analytics capabilities, and ensuring compliance with data privacy regulations.

What are the key activities that are often the focus of enterprise data management initiatives?

Enterprise data management initiatives typically focus on key activities such as data governance, data quality management, data integration, and master data management. Data governance involves establishing policies and procedures for managing data. Data quality management ensures that data is accurate, complete, and consistent. Data integration involves integrating data from different sources into a single view. Master data management creates a single source of truth for key data elements. These activities are critical for effective enterprise data management.

What is the global market size of Enterprise Data Management Market?

Enterprise Data Management Market size was valued at USD 79.7 billion in 2021 and is poised to grow from USD 89.34 billion in 2022 to USD 249.76 billion by 2030, growing at a CAGR of 12.10% in the forecast period (2023-2030).

Global Enterprise Data Management Market

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 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.

Enterprise Data Management Market Report Snapshots

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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).

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. '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)'

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.

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.

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.

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Enterprise Data Management Market Dynamics

Enterprise Data Management Market Report Snapshots

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