According to the report by Expert Market Research (EMR), the global enterprise data management market size reached a value of USD 93.01 billion in 2023. Aided by the increasing need for data integration and real-time data insights across various sectors, the market is projected to further grow at a CAGR of 12.8% between 2024 and 2032 to reach a value of USD 275.02 billion by 2032.
Enterprise Data Management (EDM) involves the ability of an organisation to precisely define, easily integrate, and effectively retrieve data for both internal applications and external communication. EDM is crucial for businesses looking to manage their data assets to enhance operational efficiency, enable data-driven decision-making, and maintain competitive advantage in rapidly changing markets.
As per the enterprise data management market analysis, various sectors are now subject to stringent data regulations which mandate the accurate reporting and safeguarding of operational data. This regulatory environment is compelling companies to adopt robust EDM systems. As businesses increasingly operate in digital spaces, the volume and variety of data continue to expand exponentially. This surge in data has necessitated the development of more sophisticated data management tools and strategies.
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As per the enterprise data management market outlook, the rise of cloud computing, big data analytics, and artificial intelligence has created new opportunities for more effective data management solutions, providing businesses with the tools to handle large datasets with greater agility. Organisations are focusing on enhancing the quality of their data as well as the efficiency of their data processes to improve decision-making and operational efficiencies.
Artificial intelligence (AI) and machine learning (ML) are increasingly being integrated into EDM systems to enhance data analysis, improve data quality, and automate complex processes, which can fuel the enterprise data management market growth. These technologies help in predictive analytics, anomaly detection, and in automating the data cleansing process, significantly increasing the efficiency of data management practices.
With the increasing shift towards cloud services, Data as a Service is emerging as a compelling model. DaaS allows companies to access high-quality, curated data on demand, reducing the overhead associated with data management and allowing businesses to focus more on insights and less on operations.
As data breaches and privacy concerns continue to make headlines in the enterprise data management market, data governance is becoming more critical than ever. Organisations are increasingly prioritising the establishment of clear policies and frameworks that ensure data is used ethically and in compliance with regulations such as GDPR and CCPA.
Edge computing is becoming more relevant in data management by processing data at the edge of the network, closer to the source of data. This trend is particularly important in industries where real-time data processing and low latency are critical, such as manufacturing and telecommunications. Blockchain technology is being explored for its potential to enhance data security in EDM systems, which can propel the enterprise data management market expansion. By creating decentralised and immutable records, blockchain can provide a higher level of security and transparency in data transactions.
With increasing awareness of environmental issues, companies are looking at ways to make their data centres more sustainable. This includes adopting green data management practices and technologies that reduce energy consumption and carbon footprint.
Organisations are leveraging hybrid and multi-cloud environments to optimise their data management strategies, which can also boost the enterprise data management market share. This approach allows businesses to distribute their data and applications across multiple cloud environments, improving flexibility and data recovery measures.
Metadata management is gaining traction as businesses recognise the value of metadata in understanding and controlling their data assets. Advanced metadata management tools are being developed to provide richer, contextual insights into data usage and lineage, helping organisations in better data discovery and classification.
Enterprise Data Management Market Segmentation
The market can be divided based on component, deployment mode, organisation size, industry, and region.
Market Breakup by Component
- Software
- Services
- Professional Services
- Managed Services
Market Breakup by Deployment Mode
- On-Premise
- Cloud
Market Breakup by Organisation Size
- On-Premise
- Cloud
Market Breakup by Industry
- 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 Defence
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Enterprise Data Management Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global enterprise data management market. Some of the major players explored in the report by Expert Market Research are as follows:
- SAP SE
- Oracle Corporation
- Teradata Corporation
- NortonLifeLock Inc.
- Cloudera, Inc.
- Others
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