enterprise data management market was valued USD 81.54 Billion in 2021 and is expected to expand to USD 165.37 Billion by 2030 at a CAGR of 8.7%.
Enterprise Data Management Market
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. The report analyzes the global enterprise data management market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the enterprise data management market.
Enterprise data management (EDM) often relates to an organization’s capacity and ability to incorporate, integrate, retrieve, govern and secure data from various data streams for both external and m internal applications and processes. Thus, it is paramount for an organization to make effective use of reliable and accurate data to make progressive decisions and create necessary prospects depending on an analytical perspective for eventually driving the growth of an organization. EDM also favors important compliances and regulations undertaken by the firm to maintain transparency.
Need for risk management and data management solutions to augment the demand for the market
The risk of data in an enterprise is growing at a rapid pace, and hence it is imperative for organizations to make effective use of appropriate risk management tools so as to curb data breaches as improper data management can cause adverse privacy concerns. Besides, the use of enterprise data management (EDM) can appreciably promote and enhance the overall decision-making and productivity of organizations. In addition, a surge in the need for real-time accessible data is gaining immense traction from various industries such as media & entertainment, finance, IT, energy, and others that ultimately impact the growth of the global enterprise data management market.
Decreased knowledge about technology among businesses restricts the growth of the market
There has been a remarkable surge in the number of SMEs (small and medium enterprises) around the globe but a lack of knowledge about technology and poor implementation of enterprise management tools among them restrict the growth of the market. Besides, they lack the necessary resources to make effective use of advanced technologies will hinder market expansion. Apart from that, since SMEs are largely influenced by legacy software and systems, the adoption of contract management technology is considerably reduced, affecting the growth of the market.
Amalgamation of cloud with data integration along with growth of AI and visual analytics offer remunerative market growth opportunities
There has been exponential growth in the demand for data integration along with the incorporation of cloud and visual analytics. Besides, artificial intelligence has significantly favored real-time data to be synthesized for problem-solving and decision-making by expediting real-time analysis. In addition, the introduction of AI-powered products further improved the AI capabilities of analytics. Furthermore, data regulation can efficiently be detected by cloud technology at a much lower cost. These factors create lucrative opportunities for the growth of the global enterprise data management market.
Rising concerns about data security act as a major challenge for the market growth
The increase in digitization across the globe has given rise to cyber-crimes across the globe, and hence if the platform is weakly encrypted or vulnerable, the chances of it being encroached on by hackers increase. These cases are becoming more and more common making data integration in the healthcare sector difficult. In addition, the presence of open-source solutions and ease of accessibility is likely to act as a crucial challenge for the growth of the market.
The global enterprise data management market is segmented based on component, organization size, deployment mode, services, end-user industry, and region.
Based on component, the global market is bifurcated into software and services. The software segment held the largest market share in 2021 at over 77.01% during the forecast period. There has been an increase in the adoption of enterprise data management solutions, especially among small and medium enterprises which are projected to drive the growth of the software segment during the forecast period.
More and more organizations across the globe incessantly started adopting constructive enterprise data management (EDM) solutions so as to attain essential regulatory compliance requisites including rigorous financial reporting and data privacy & protection. This essentially results in revamped organizational productivity by subsequently curbing duplication and redundancy of data. Due to these factors, the software segment has substantially outperformed the services segment, and is further projected to occupy a higher share during the forecast period.
Based on deployment mode, the market is bifurcated into the on-premise segment and cloud segment. The on-premise segment accounted for the largest revenue share in 2021 occupying a revenue share of more than 42% and is expected to show its dominance during the forecast period. Numerous organizations around the world have gradually shifted towards the adoption of automated systems rather than conventional manual systems to conduct a series of business operations.
Thus, the demand for on-premise software has surged exponentially. Besides, growth in the adoption of this software among companies is mainly due to its improved security features. In addition to this, few of the enterprise data management solutions can run without the need for an internet connection, and hence can be essentially customized intrinsically according to the needs of the business. Therefore, this segment is predicted to cite a promising growth rate over the forecast period.
|Enterprise Data Management Market Research Report
|Market Size in 2021
|USD 81.54 Billion
|Market Forecast in 2030
|USD 165.37 Billion
|Compound Annual Growth Rate
|CAGR of 8.7%
|Number of Pages
|Value (USD Billion), and Volume (Units)
|Key Companies Covered
|Oracle Corporation, Mindtree Ltd., Talend, Amazon Web Services (AWS), Commvault, Broadcom (Symantec), Cloudera Inc., SAP SE., Informatica Inc., IBM Corporation, Teradata Corporation, EnterWorks Inc., GoldenSource Corporation, Ataccama, MapR, MuleSoft, LLC, Actian, SAS Institute Inc., Zaloni Inc., among others.
|By Components, By Deployment Mode And By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
|North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|2016 to 2020
|2022 - 2030
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North American region is expected to dominate the market during the forecast period
The North America region accounted for the highest global enterprise data management market share of over 35.5% in 2021 and is expected to continue this pattern during the forecast period. The exponential rise in demand for enterprise data management in this region is mainly attributed due to the increased adoption of innovative technologies such as cloud, big data analytics, machine learning, internet of things (IoT), artificial intelligence (AI), and analytics across business operations in multiple industries in this region. Besides, eminent technology companies such as Oracle Corporation, IBM Corporation, Amazon Web Services, Microsoft Corporation, and others originated in this region giving them a strong foothold in the market. In addition, these companies constantly rely on adopting next-generation technologies and digital transformation which gives them a significant edge over companies in other regions. Countries like US and Canada from this region invest heavily in the latest technologies to keep up with the trend that ultimately ameliorates their operational efficiency in the business.
The Asia-Pacific enterprise data management industry is also expected to grow quickly at a promising growth rate and also in terms of revenue during the forecast period. There has been an increase in the number of companies both small & medium enterprises and large enterprises in this region that remarkably contribute to the growth in demand for enterprise data management solutions in this region. In addition, the rapid adoption of innovative technologies such as big data analytics and increased funding from the government for start-ups in this region is likely to drive the growth of the market in this region. In fact, various governments in this region are also invigorating technology and software companies to design and create free and open-source software so as to efficiently manage and access large amounts of data remotely further increasing the demand for enterprise data management (EDM) solutions in this region.
The global enterprise data management market is dominated by players like:
By Deployment Mode
An important factor influencing the growth of the global enterprise data management market increase in the importance of data management and on-time information, a surge in digitalization, and an increase in the adoption of Internet of Things (IoT) devices.
According to the report, the global market size 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.
The global enterprise data management market is expected to be driven by the North American region. This is mainly due to the presence of eminent companies in the region.
The global enterprise data management market is dominated by players such as Oracle Corporation, Mindtree Ltd., Talend, Amazon Web Services (AWS), Commvault, Broadcom (Symantec), Cloudera Inc., SAP SE., Informatica Inc., IBM Corporation, Teradata Corporation, EnterWorks Inc., GoldenSource Corporation, Ataccama, MapR, MuleSoft, LLC, Actian, SAS Institute Inc., Zaloni Inc., among others.