Master Data Management Market Scope
The requirement for compliance and verification, as well as the handling of a large volume of data, are the main drivers of the master data management market. Master data management (MDM) is a technology-enabled discipline in which business and IT collaborate to guarantee that the enterprise's official shared master data assets are uniform, accurate, stewarded, semantically consistent, and accountable. It is a comprehensive approach for driving superior business insights across the firm by offering a single, trustworthy, 360-degree view of customer and product data. Product information management (PIM) and master data programs are accelerated by agile self-service access, analytical graph-based exploration, governance, and a user-friendly interface.
The Master Data Management market study is segmented and major geographies with country level break-up.
The study examines important trends in the Master Data Management (MDM) market, as well as organic and inorganic growth strategies. Product launches, product approvals, and other organic growth tactics such as patents and events are being prioritized by a number of companies. Acquisitions, as well as partnerships and collaborations, were seen as inorganic growth tactics in the market. These efforts have paved the road for market players to expand their business and client base. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Master Data Management market throughout the predicted period.
SAP (Germany), IBM (United States), Oracle (United States), SAS Institute (United States), TIBCO Software (United States), Informatica (United States), Talend (United States), SynForce (United States), Cloudera (United States) and Riversand (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are AWS (United States), Teradata (United States), Mindtree (United States), Magnitude Software (United States), Contentserv Switzerland Vitria (United States), Veeva (United States), Qlik (United States), MapR (United States), GoldenSource (United States), MuleSoft (United States), Stibo Systems (Denmark), Profisee Group (United States), Reltio (United States), Semarchy (United States), EnterWorks (United States), Symantec (United States) and Ataccama (Canada).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Master Data Management market by Type, Application and Region.
On the basis of geography, the market of Master Data Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 23rd March 2020, IBM InfoSphere Master Data Management 12.0 brings improved compliance support and capability to accelerate task resolution decisions with machine-learning assisted stewardship; IBM InfoSphere Global Name Management 7.0 and IBM InfoSphere Identity Insight 10.0 offer usability enhancements
On 18th March 2021, Oracle announced updates to its self-driving Oracle Autonomous Data Warehouse, according to a press release on the companyís website. The release is highlighted by this productís evolution into an intuitive point-and-click, drag-and-drop experience for data analysts, data scientists. and business users.
- The Rising Popularity of Public Cloud Deployment
- The Increasing demand from banking Industry
- The Increasing Demand for data quality tools for data management
- The Surging Usage in Healthcare
- The Technological Advancements such as Artificial Intelligence (AI), Big Data (BI), Machine Learning (ML)
- The Issues Related to Data Security hindering the Master Data Management Market
- The Concern Related to Diversified Data Regulations as well as Legislation
Analyst ViewThe COVID-19 outbreak is wreaking havoc on businesses all around the world. Companies that manage data are attempting to combat the epidemic by keeping their assets online and maintaining data privacy and security across networks. The knowledge of key professionals, business intelligence experts, and experts in advanced analytics such as AI and ML has been requested to assist executives in making business decisions about how to respond to the new business difficulties posed by the COVID-19 epidemic. Furthermore, MDM firms are confronted with concerns relating to data leaks.
Key Target AudienceGovernment Research Organization, Private Research Organization, Government Regulatory bodies and Others