06-Jan-2023 | Zion Market Research
The global enterprise data management market size was worth around USD 81.54 Billion in 2021 and is predicted to grow to around USD 165.37 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.7% between 2022 and 2030.
Enterprise data management is the capability to acquire, integrate, and supervise large numbers of data to facilitate effective decisions regulations, governance, and performance of the staff or making and delivering products. Thus, creating reliable data for any organization’s purpose mainly being data-driven analysis and constructive decision-making. Furthermore, enterprise data management helps in reducing the costs of data storage and, also helps in making important data transactions whilst maintaining data security.
The demand in the global enterprise data management market is expected to increase rapidly due to the adoption of innovative and advanced technologies such as artificial intelligence, big data analytics, machine learning, and others. Both small & medium enterprises (SMEs) and large enterprises are incessantly adopting the latest technologies to regularly handle massive data generated in companies. These companies generate several types of data such as inventory numbers, social media data, financial information, graphics, photos, videos, and others that require effective management. Thus, enterprise data management (EDM) solutions can bring about transformational changes in business operations and also derive paramount conclusions from these data. Thus, extensive applications of EDM in multiple industries can offer lucrative opportunities for the market in the near future.
However, a lack of knowledge about the latest technologies and expensive installation procedures for SMEs can restrict the growth of the market.
The global enterprise data management market is segmented based on component, Deployment mode, organization size, end-user industry, services, and region.
Based on the end-user industry, the market is segmented into retail, healthcare, BFSI, manufacturing, IT & telecom, media & entertainment, government & defense, energy, transportation, and others. The IT & telecom segment held the dominating market share and is expected to maintain its position during the forecast period. This is mainly attributed due to a notable surge in demand for data management, risk management, and data storage among the major IT firms across the globe. Besides, the exponential growth of IT & telecom firms continues to gain massive traction as they are readily investing in the latest technologies to help them in long-term projects for strategic purposes.
Geographically, in the global enterprise data management market, the North American region accounted for the largest market share in 2021 and is further expected to occupy a dominant status in the market during the forecast period. This growth is mainly attributed due to the presence of prominent software and technology firms in this region such as IBM, Amazon Web Services (AWS), Oracle Corporation, and Teradata Corporation, among others. In addition, the rise in need for timely authentic information and increased expenditure on risk management solutions in the region further drive the growth of the market in the North American region.
This review is based on a report by Zion Market Research, titled “Enterprise Data Management Market By Component (Software, Services), By Organization Size ( Small & Medium Enterprises (SMEs), Large Enterprises), By Deployment Mode (On-Premise, Cloud), By Services (Professional Services, Managed Services), By End-user Industry (Retail, Healthcare, BFSI, Manufacturing, IT & Telecom, Media and Entertainment, Government and Defense, Energy, Transportation, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/enterprise-data-management-market
The global enterprise data management market is dominated by players such as:
The global enterprise data management market is segmented as follows:
By Deployment Mode
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