Master Data Management Market Analysis | 2023-2028

Market Insights

The master data management market was estimated at USD 16.5 billion in 2022 and is likely to grow at a CAGR of 15.8% during 2023-2028 to reach USD 39.88 billion in 2028.

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Market Dynamics

Introduction

Master data management (MDM) is a method that is used by enterprises to link all their critical data to a common point of reference. When properly carried out, MDM enhances data quality while streamlining data sharing across personnel and departments.

It helps a company to facilitate privacy management, improve business processes, reduce labor costs, manage threats and risks, and optimize the process.

COVID-19 Impact

The COVID-19 pandemic has moderately affected the master data management sector. With schools, offices, and manufacturing sites shutting down for an indefinite period; major sports and events being postponed; and work-from-home and social distancing policies in effect, the companies are looking for technologies to enable them to operate through these difficult times.

Market Drivers

The master data management market is driven by a host of factors, some of which are noted below:

• The advent of MDM has helped companies to collate as well as manage master data and use it for data analytics and effective decision-making.
• MDM improves the operational efficiency of organizations coupled with enhanced decision-making capabilities.
• MDM makes it easy to use data for various business operations so as to boost operational and business performance and provide better customer services.

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Key Players

The key players operating in the market are-

• IBM Corporation (US)
• Tibco Software Inc (US)
• Oracle Corporation (US)
• Teradata Corporation (US)
• Riversand (US)
• SAS Institute (US)
• Informatica (US)
• Talend (US)
• Stibo System (Denmark)
• SAP (Germany).

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Deployment Type

The market has been classified into cloud and on-premises. Under these, the cloud segment held a significant market share in 2022 as it helps lower the total cost of ownership as well as increase data storage capabilities for enterprises across the world.

Also, cloud-based deployment has offered businesses to operate without a server infrastructure or office location, thus enabling employees to work remotely, thereby boosting the segment growth in the coming years.

Regional Insights

The Asia Pacific held a significant market share in 2022 and is projected to grow at a robust CAGR in the coming years. Growing awareness regarding the rise in business productivity, complemented with competently designed MDM solutions provided by vendors in the highly potential regional market.

Also, extensive facilities for the deployment & management of master data applications at economical costs, further bolsters the regional market growth during the review period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s master data management market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The master data management market is segmented into the following categories.

By Component Type

• Solutions
• Services

By Deployment Type

• Cloud
• On-premises

By End-Use Type

• Banking Financial Services and Insurance (BFSI)
• Government
• Retail
• IT and Telecom
• Manufacturing
• Energy and Utilities
• Healthcare

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.