Enterprise Data Management Market Size, Share & Trends Analysis Report By Component, By Services, By Deployment, By Organization, By Industry Vertical, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global enterprise data management market size was valued at USD 72.79 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.8% from 2021 to 2028. The outbreak of COVID-19 pandemic is expected to have a positive impact on the market due to estimated increase in the software demand, as ‘work-from-home’ norms rises into prominence across the world. According to an NTT Ltd. report commissioned by IDG, the normalization of the work-from-home model amid local and global quarantine has increased the demand for software-based value-added services for reducing security risks. Organizations across the globe have turned to Enterprise Data Management (EDM) providers for the provision of a range of services and solutions and the trend is likely to remain strong in the near future as well.

The enterprise data management market is expected to witness significant growth over the forecast period owing to the increasing need for real-time information, a structured process for data delivery from the producers, and effective management of the hierarchical master data generated across industry verticals. Moreover, the growing need to ensure regulatory compliances and adoption of Internet of Things (IoT) devices are also expected to drive market growth over the forecast period.

Increased adoption of parallel processing architecture, increasing the need for on-time information, and the demand for risk management are the major factors driving the market. EDM helps organizations with the removal of data management issues that may result in mismanagement of data. It implements a structured process for data delivery from the data producer to the data user. It is comprised of various segments such as software, network infrastructure, business judgment, and regulations that are used to manage the flow of data. Any organization follows certain aspects and collaborations of inter teams such as finance, IT, and operations for the implementation of enterprise data management.

Continued globalization has prompted many organizations to open offices across the globe. However, the scattered location of business offices poses challenges for data procurement and management. Enterprise data management solutions can help at this juncture in single-source reporting and allowing multi-user capability, thereby providing clients with proper management of data at every business location. EDM solutions can help the incumbents of various industries and industry verticals, including BFSI, and manufacturing, among others, in obtaining valuable insights from the historical and current data, and forecasting market changes that can potentially affect the requirements of clients. Further, reshuffling the workflows can have a significant impact on the baseline of an organization. EDM solutions can be beneficial for such organizations by ensuring the accuracy of the information and proper risk management.

As an organization grows, the data it generates increases as well, and this data has to be efficiently stored, managed, and protected. Enterprise data management primarily ensures adherence to data security practices and standards within an organization. Enterprise data management solutions help in ensuring that the data is highly secured and protected against data loss. Enterprise data management solutions also help in ensuring security on all the devices that are using the data. Given the rising instances of data breaches, companies not vigilant and alert enough to safeguard their assets could be exposed to data threats and may end up with data breaches, tarnished reputation, and financial losses. These factors are driving the adoption of enterprise data management solutions.

Component Insights

The software segment captured a market share exceeding 70% in 2020. Increasing adoption of enterprise data management solutions by small and medium enterprises is anticipated to drive the growth of the software segment over the forecast period. Organizations are progressively adopting enterprise data management solutions for data security and privacy protection, regulatory compliance, and financial reporting purposes. Benefits, such as reduction in inaccurate and duplication of data and subsequent improvement in organizational productivity is projected to drive the adoption of enterprise data management solutions.

Services segment is anticipated to register considerable growth over the forecast period. Enterprise data management services can help in gaining rapid, contextual, and empowered insights and subsequently addressing complex business issues. Enterprise data management services can also help businesses in reducing operating expenses, improving operational efficiency, and focusing on their core competencies. Concerns over data security and privacy protection are particularly driving the adoption of enterprise data management services by the incumbents of various end-use industries.

Services Insights

The professional services segment held the highest market share of over 60% in 2020. Professional services can help in optimizing staffing, improving collaboration, and automating time management and expense management. Conventionally, small enterprises have been using spreadsheets for resource and time management, among other tasks. However, as the business grows and complexities increase, it becomes challenging for enterprises to maintain the business quality, increase the throughput, enhance effectiveness, and optimally aligning resources while profitably delivering projects on time, thereby driving the need to automate these tasks. The growing need for improving operational efficiency is expected to propel the growth of the professional services segment over the forecast period.

The managed services segment is anticipated to register a promising CAGR over the forecast period. EDM managed services include data management, vendor management, and client management. They can potentially help organizations in simplifying their data and helps to improve business operations. Managed services can also integrate and effectively manage both conventional and cloud-based IT infrastructures. As such, the growing reliance of organizations on IT assets to improve their productivity particularly bodes well for the growth of the managed services segment over the forecast period.

Deployment Insights

The on-premise segment held the highest market share of more than 50% in 2020. Several organizations are shifting from manual systems to automated systems for carrying out a variety of operations. This has triggered the demand for on-premise software. Organizations prefer on-premise deployment due to increased security features. In addition, on-premise enterprise data management solutions do not require an internet connection and can be easily customized to the business requirements. Hence, the on-premise segment is expected to witness steady growth opportunities over the forecast period.

The cloud segment is anticipated to register a highest CAGR over the forecast period. Cloud-based solutions are hosted on the vendors’ servers and can be remotely accessed from any location. Organizations are increasingly opting for cloud-based solutions as cloud-based deployment eliminates the need for periodic manual upgrades and allows users to access data without any hassles irrespective of their location. For instance, Hewlett Packard Enterprise’s HPE GreenLake, which was introduced in May 2021, is an edge-to-cloud platform to manage and store data for a hybrid cloud.

Organization Insights

The large enterprise segment held the largest market share of over 65% in 2020. Large enterprises typically generate and have to access, utilize, and manage large volumes of data. The associated processes and operations at large enterprises often require high-tech tools, including advanced analytical engines, process blueprints, and real-time data compilation tools, thereby driving the adoption of business software solutions by large enterprises. The strong emphasis large enterprises are putting on adopting effective data approaches to classify and forecast probable threats and utilize this data to make faster business decisions is also expected to drive the demand for enterprise data management solutions from large enterprises.

Enterprise data management helps SMEs to improve costs, remove repetitive tasks, prioritize work, and improve collaboration among teams. The growth can be attributed to the increasing number of SMEs in emerging countries, such as China and India. Comprehensive data management practices help SMEs in creating new business models, reducing business risks, and streamlining employee workflows. The growing preference for cloud-based solutions and the strong emphasis on developing cybersecurity strategies, preventing insider threats, and streamlining business operations is anticipated to drive the segment growth.

Industry Vertical Insights

The BFSI segment held the highest market share of over 30% in 2020. Incumbents of the BFSI industry have to handle diverse data sets, which include customer information, product information, solutions and services, financial transactions, buying history, and marketing strategies, among other data. Implementing enterprise data management solutions can help incumbents of the BFSI industry in better managing enterprise-wide risks, improving sales and marketing operations, tracking and monitoring finance and accounting procedures, and efficiently managing various compliances. Advances in technology have been playing a vital role in driving the adoption of enterprise data management solutions across the BFSI industry.

The healthcare segment is anticipated to register a highest CAGR over the forecast period. Enterprise data management provide healthcare professionals with instant access to patient data through secure portals and the ability to store and manage large volumes of data effectively. Adoption of EDM solutions in the healthcare industry vertical can potentially encourage remote collaboration and data sharing, thereby overcoming the limitations associated with the outdated technologies and services in the segment. EDM solutions can typically support data automation, data streamlining, and simplification of the discharge processes, which ultimately help in eliminating the need for offline processes.

Regional Insights

North America dominated the global market with a revenue share of over 35% in 2020 owing to the presence of major data management solution providers, high-level expertise, and their rising investments in enterprise data management. In the U.S., companies put a strong emphasis on digital transformation and are often considered among the early adopters of next-generation technologies, such as IoT, big data analytics, AI, and ML. The continued adoption of the latest technologies by enterprises in the U.S. bodes well for the growth of the regional market.

The Asia Pacific regional market is estimated to witness significant growth over the forecast period owing to the increasing adoption of big data across industry verticals in the region. The growing industrialization has resulted in the production of numerous data, therefore driving the need for enterprise data management in the region. In the region, various governments are encouraging software companies to design and develop free and open-source software for managing and accessing a huge volume of data remotely, which is likely to promote the demand for enterprise data management.

Key Companies & Market Share Insights

The key players that dominated the global market in 2020 include International Business Machines Corporation; Oracle Corporation; SAP SE; Cloudera, Inc.; Amazon Web Services, Inc; and Broadcom (Symantec); among others. These players offer a wide range of enterprise data management services and cater to industries such as retail, BFSI, healthcare, manufacturing, and others. The barriers to new entrants are high as the key players have easy access to the key clientele. New product launches and upgrades remain the key strategy adopted by these players. For instance, in April 2021, International Business Machines Corporation launched a storage system for data management across hybrid clouds. The storage system is expected to improve data management across hybrid cloud environments, thereby improving data availability and flexibility. Some of the prominent players operating in the global enterprise data management market are:

• International Business Machines Corporation

• Oracle Corporation

• SAP SE

• Cloudera, Inc.

• Amazon Web Services, Inc

• Teradata

• Talend

• Enterworks (Winshuttle, LLC)

• Informatica

• Micro Focus

• MindTree Ltd.

• Broadcom (Symantec)

Enterprise Data Management Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Grand View Research has segmented the global enterprise data management market report based on component, services, deployment, organization, industry vertical, and region:

• Component Outlook (Revenue, USD Billion, 2018 - 2028)

  • Software

  • Services

• Services Outlook (Revenue, USD Billion, 2018 - 2028)

  • Managed Services

  • Professional Services

• Deployment Outlook (Revenue, USD Billion, 2018 - 2028)

  • Cloud

  • On-premise

• Organization Outlook (Revenue, USD Billion, 2018 - 2028)

  • Large Enterprise

  • Small & Medium Enterprise

• Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2028)

  • IT & Telecom

  • BFSI

  • Retail & Consumer Goods

  • Healthcare

  • Manufacturing

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)