Cloud Data Management Platform as a service, provides enterprise data-driven applications with a trusted view of data in a hybrid computing environment. Of late, master data management (MDM) on cloud offers models for speed, cost-effectiveness and scalability across industries. With the advent of Internet of Things (IoT) technology and penetration of social media are some of the factors driving the adoption of cloud master data management market.This growth is primarily driven by Improve operational productivity and enhance sales productivity and Surging penetration of information technology all over various sectors worldwide.
Globally, a noticeable market trend is evident Rise in deployment of IoT and Big data among various industries. Major Players, such as IBM (United States), Oracle (United States), Dell (United States), Microsoft (United States), Reltio (United States), TIBCO (United States), Onexte (United States), Axtria (United States), Prospecta (Australia), AWS (United States), SAP (Germany) and Teradata (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
California Consumer Privacy Act (CCPA) is passing a law for protection of data in United States which will be effective by January, 2020. It is expected to be country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance. European Union laws (GDPR) is taking important measures to protect data privacy and is expected to impact ~4% of global annual sales.
- Improve operational productivity and enhance sales productivity
- Surging penetration of information technology all over various sectors worldwide
- Rise in deployment of IoT and Big data among various industries
- Security & privacy of data and lack of sufficient IT infrastructure in underdeveloped nations
Increasing IT industry in many emerging economies such as India, Brazil and others and Surging demand for Cloud MDM Software in BFSI Sector
Increasing cyber threats
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