Enjoy complimentary customisation on priority with our Enterprise License!
The Global Enterprise Data Management Market size is estimated to grow by USD 96.98 billion between 2022 and 2027 accelerating at a CAGR of 15.07% during the forecast period. The growth of the market depends on several factors, including growing demand for data integration and visual analytics, rising demand for digitalization, and data explosion across industries.
This report extensively covers market segmentation by end-user (BFSI, healthcare, manufacturing, retail, and others), deployment (on-premise and cloud-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Request Free Sample
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand for digitalization is a key driver of market growth. The vast data generated across diverse business operations has made data analysis a challenge, leading businesses in various sectors to adopt data integration solutions. Cognitive media solutions, empowered by AI, enable real-time data synthesis for effective decision-making, bridging the gap between IT and business operations. As data volumes continue to soar, analyzing, monitoring, transforming, and interpreting data becomes a top priority for business activities.
Globalization necessitates real-time information exchange, compelling end-user companies to incorporate AI platforms into their media solutions to connect multiple enterprise systems with web and cloud-based applications. Additionally, integrating data with AI-driven video analytics systems facilitates in-depth analysis of various data types, such as sales data, facilitating informed decision-making. These factors are poised to propel the growth of the global EDM market in the forecast period.
Technological advancement is a prominent trend in the market. The shift toward mobile workplaces and the need for data collaboration are propelling the growth of Enterprise Social Networks (ESNs) integrated with workflow capabilities within social media platforms. This integration is expected to be a built-in feature of EDM software solutions. The increasing prominence of cloud and social collaboration is also driving demand for all-encompassing and multifunctional EDM software solutions.
With the growing prevalence of advanced technologies like IoT and ML, EDM software solutions are expanding to include functions such as file sharing and synchronization. In the future, the convergence of solutions like Enterprise File Synchronization and Sharing (EFSS), ESN, and EDM is anticipated to create comprehensive data management platforms, enabling organizations to achieve their objectives. Therefore, with ongoing technological advancements, the global EDM market is projected to experience growth in the forecast period.
Integration challenges related to non-scalable applications pose significant obstacles to market growth. Enterprises utilize various applications like CRM, TMS, and SCM, and integrating a new ERP system with these existing applications becomes problematic. The complexity in integration primarily arises from scalability limitations. For example, the market is witnessing a growing popularity of Software as a Service (SaaS), and companies are striving to integrate SAP with cloud-based applications.
The technological disparities between SAP and cloud-based applications give rise to integration difficulties. Multiple applications serve distinct purposes, and each employs different technologies, complicating the integration process. The inclusion of third-party or custom-made applications further compounds the complexity for customers. The primary challenge lies in the fact that incompatibilities often remain concealed during development and only become apparent in the later stages, resulting in increased costs, reduced quality, and customer dissatisfaction. Consequently, these factors may impede the growth of the global EDM market in the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Enterprise Data Management Market Customer Landscape
The market share growth by the BFSI segment will be significant during the forecast period. The BFSI segment dominated the global EDM market and will continue to hold a major share of the market during the forecast period. The complete digitization of core processes, the adoption of customer-centric approaches, and the rising volume of data drive the growth of the segment.
Get a glance at the market contribution of various segments Request a PDF Sample
The BFSI segment was valued at USD 17.01 billion in 2017 and continued to grow until 2021. The deployment of EDM software solutions allows financial institutions to manage data generated from diverse systems and processes such as loan processing, claims management, customer data management, and financial transactions electronically. Hence, it improves customer-centricity. The deployment of EDM software solutions also allows financial institutions to address sectoral challenges, which range from compliance requirements to data management, security, transparency, and availability across platforms, time, and geographies. The growth of the BFSI segment is also driven by the need to reduce processing costs, improve operational efficiency, and ensure adherence to compliance standards. Moreover, solutions such as EDM applications provide enterprises with financial planning, budgeting, forecasting, and financial and operational reporting abilities. BFSI companies adopt EDM applications to streamline their financial planning and budgeting processes in line with their business strategies and plans. The adoption of EDM applications also enables funds transfer pricing and provides suitable applications for the accurate calculation of the profitability of the enterprise. Thus, the growth of the BFSI will positively impact the growth of the global enterprise data management market during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Several industries, especially in the US and Canada, are early adopters of advanced technologies. Hence, the volume of data generated is high, which necessitates the use of EDM software solutions in North America. The US is the leading market for EDM solutions in North America. It is the technological capital of the world and is one of the early adopters of cutting-edge innovations. The increase in volume and development of the industrial sector, regulatory standards, and penetration of key vendors have driven the expansion of the EDM market in the country. Such factors have made the US one of the primary markets for EDM solutions.
Manufacturing, telecommunications, infrastructure development, BFSI, and retail activities are growing at a rapid pace in the region. Several companies from such industries are adopting solutions to analyze the increasing volume of data generated. Hence, vendors offer specific products that cater to the needs of such industries. For instance, Magnitude Software, a Texas-based company, offers products and solutions to simplify the management of data to improve the productivity of companies. Therefore, BFSI organizations such as VISA, Scotiabank, HSBC, and GMO (a payment gateway solution provider) have deployed the company master data management (MDM) and dynamic information warehouse (DIW) data management solutions to reduce costs and ensure adherence to regulations. Unilever, Adidas, Imperial Brands, and Daymon Worldwide, which are retail organizations, have also adopted data warehouse automation and EDM solutions to gain insights and improve the efficiency and agility of their supply chain. SAS Institute, which operates in the region, offers EDM software solutions for all industries. Thus, owing to such factors the enterprise data management market in the region is expected to grow during the forecast period.
In 2020, the outbreak of COVID-19 led to a rise in the adoption of EDM solutions across various end-user industries in the region, primarily by healthcare, and public companies and organizations, for streamlining the organization information and finding solutions relevant to a situation such as decision-making operations. Furthermore, in 2021, the lifting of lockdowns and the initiation of large-scale vaccination drives in various countries in the region, coupled with increased funding for software infrastructure development, gradually increased the demand for EDM solutions. Several major players headquartered in the region are undergoing developments, such as M&A and the launch of new products, to strengthen their presence in the market during the COVID-19 crisis. Such developments will supplement the growth of the regional enterprise data management market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
GoldenSource - The key offerings of the company include enterprise data management solutions.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
Enterprise Data Management Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
179 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 15.07% |
|
Market growth 2023-2027 |
USD 96.98 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
12.64 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 40% |
|
Key countries |
US, Canada, China, UK, and Germany |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Accenture Plc, Amazon.com Inc., Broadcom Inc., Cloudera Inc., GoldenSource, HP Inc., Hyland Software Inc., Informatica Inc., Innovative Systems Inc., Intel Corp., International Business Machines Corp., Larsen and Toubro Ltd., Micro Focus International Plc, Microsoft Corp., Oracle Corp., Precisely, SAP SE, Talend, Teradata Corp., and Veritas |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
