Enterprise Data Management Market Size, Share & Trends Analysis Report By End-use (BFSI, Healthcare), By Component (Software, Services), By Deployment, By Enterprise Size, By Services, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global enterprise data management market size was valued at USD 89.34 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.1% from 2023 to 2030. The growing adoption of parallel processing architecture and the need for risk management, the increasing shift from manual to an automated system to carry out business operations, the rising volume of data, and the growing security concerns are the major factors contributing to the growth of this industry. The global industry has benefited from the COVID-19 pandemic. Organizations worldwide have turned to enterprise data management providers for a variety of services and solutions. The trend is expected to continue in the near future.

It benefits businesses and enterprises by providing unified integration with consuming applications, data control, enhanced transparency, and support for ongoing regulations and compliances. The rising demand for data integration and visual analytics has aided in the industry’s expansion. By facilitating real-time analysis, the use of Artificial Intelligence (AI) in cognitive media solutions (whiteboard videos and whiteboard animations) enables real-time data synthesizing for effective decision-making. In addition, vendors are introducing AI-powered products to enhance analytics’ AI capabilities. As a result, many businesses are integrating business analytics software into their operations for dynamic data representation.

These factors will have a positive impact on industry growth during the forecast period. Enterprise data protection and security protocols play a vital role in any modern business. Enterprise data protection refers to the protection of data shared by all the users within the organization, generally across the department or across any particular geographical region. Data can be categorized into external and internal categories according to the organizational resources. As the company grows, the data it generates and the data it has to store, managed, and protect also continue to grow. For instance, a typical business may secure highly confidential data using multi-factor authentication, encryption procedures, and limited access.

These factors are driving the adoption of EDM solutions. The growing demand for EDM is also expected to rise as this model helps in creating a process for delivering relevant insights from unstructured or duplicated data. It helps in the management of data between departments within an organization. Enterprise data management solutions are projected to grow in demand as businesses place a greater emphasis on securing timely and accurate information. Several businesses and companies benefit from it because it provides seamless integration with consuming apps, data control, increased transparency, and support for ongoing rules and compliance.

These factors have fueled industry growth during the forecast period. Organizations have to abide by certain rules and regulations depending on the region they are operating in, and the industry or industry vertical they belong to. Rules and regulations can typically change from region to region and country to country, which means ensuring regulatory compliance can be a challenging task for organizations. As such, the growing need to ensure full compliance with regulations, such as the General Data Protection Regulation (GDPR) and the Act on the Protection of Personal Information (APPI), is expected to drive the adoption of EDM solutions.

Components Insights

The software segment accounted for the largest share of more than 76.10% of the overall revenue in 2022. The segment growth can be attributed to the growing end-use enterprises’ expenditure on improving their digital infrastructure and advancements in cloud analytical tools. Furthermore, the advancements in the latest technologies, such as Artificial Intelligence (AI), Machine Learning (ML), cybersecurity, blockchain, cloud computing, and Robotic Process Automation (RPA), are creating robust industry opportunities for enterprise software. Integrating these technologies into enterprise software improves software efficiency and adaptability, creating a positive industry outlook.

The service segment is expected to grow at a steady CAGR over the forecast period. EDM services comprise a comprehensive set of services designed to handle all complexities associated with business data. EDM services can typically help in gaining rapid, contextual, and empowered insights and subsequently addressing complex business issues. EDM services can also help businesses in reducing operating expenses, improve operational efficiency, and focus on their core competencies. Concerns over data security and privacy protection are particularly driving the adoption of EDM services by the incumbents of various end-use industries and industry verticals.

Services Insights

The professional services segment held the highest revenue share of more than 68.20% in 2022. Professional services can help in optimizing staffing, improving collaboration, and automating time management and expense management. Small businesses have traditionally used spreadsheets for resource and time management, among other things. However, as the business grows and complexities increase, enterprises frequently find it difficult to maintain business quality, increase throughput, improve effectiveness, and optimally align resources while profitably delivering projects on time, necessitating the need to automate these tasks. The growing need for improving operational efficiency will propel the growth of the professional services segment over the forecast period.

The managed services segment is expected to grow at a significant CAGR over the forecast period. Managed services can potentially help organizations in simplifying their data and help improve business operations. These services deliver effective functionalities at minimal costs without compromising on quality. In addition, managed services support and ensure the reliability and consistency of services offered for various business processes. 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.

Deployment Insights

The cloud segment held the highest share of more than 53.55% in 2022. Cloud-based solutions enable businesses to access data from any connected device at any time, expanding the scope for customization and allowing the implementation of analytical tools across multiple business channels. Furthermore, organizations are rapidly adopting cloud-based solutions because cloud-based deployment confiscates the need for periodic manual upgrades and allows users to access data without difficulty, regardless of their location. These benefits would further drive the growth of the segment during the forecast period.

The on-premise segment is anticipated to grow at a steady CAGR over the forecast period. Several organizations are transitioning from manual to automated systems to perform various operations. This has resulted in an increase in the demand for on-premise software. Owing to the increased security features, many organizations are opting for on-premise deployment. Furthermore, some enterprise data management solutions do not require an internet connection and can be easily customized to meet the needs of the business. Owing to these factors, the on-premise segment is expected to grow steadily over the forecast period.

Enterprise Size Insights

The large enterprise segment held the highest revenue share of more than 67.15% in 2022. Large enterprises typically access, utilize, generate, and manage huge amounts of data. Large enterprises’ business processes and operations frequently need the use of high-tech tools, such as real-time data compilation tools, advanced analytical engines, and process blueprints, resulting in the adoption of business software solutions. Furthermore, large enterprises’ strong emphasis on adopting operative data tactics to classify and forecast potential threats and use this data to make faster business decisions is expected to drive the demand for enterprise data management solutions.

The Small & Medium Enterprises (SMEs) segment is anticipated to grow at a significant CAGR over the forecast period. SMEs are significantly adopting enterprise software to enrich employees’ productivity, quickly expand the customer base, minimize compliance risks, and increase business profitability. The enterprise software developers are focusing on developing SME-specific enterprise software with effective costs to enhance their brand value. For instance, in November 2020, Tally Solutions Pvt. Ltd. launched an enterprise software, Tally Prime, to help small- and medium-sized enterprises in managing various finance-related services, such as payrolls, banking, taxation, and accounting.

End-use Insights

The IT & telecom segment accounted for the largest share of 26.8% in 2022. The growing need to improve organizational effectiveness and the documentation processes for reviewing operations and IT services is expected to drive the demand for EDM solutions from the incumbents of the IT & telecom industry over the forecast period. Continued convergence and access to advanced technologies have led telecom operators to focus on developing affordable NextGen products in minimal time. EDM solutions and services can help telecom operators in managing such complex databases that keep undergoing frequent changes in a dynamic business environment, which is anticipated to drive the demand for EDM solutions from IT & telecom operators.

The BFSI segment is expected to grow at a significant CAGR during the forecast period. The implementation of EDM solutions can help incumbents of the BFSI industry in better managing enterprise-wide risks, improving sales and marketing operations, tracking & monitoring finance and accounting procedures, and efficiently managing various compliances. For instance, banking institutes across the globe have affected advanced agile methods to secure their data and ensure accurate data quality. These advancements in technologies are driving the adoption of EDM solutions across the BFSI industry.

Regional Insights

The North America region dominated the industry in 2022 and accounted for the largest share of 36.5% of the overall revenue. The regional market growth can be attributed to the increasing demand for risk management solutions and the rise in the requirement for on-time authentic information. Several companies in the region, such as Amazon Web Service, Oracle, and IBM, among others 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 machine learning. For instance, in May 2021, IBM Corp. acquired Catalogic Software, a leading provider of data protection and copy data management solutions across industries.

This acquisition would allow Catalogic Software to focus on data security and enterprise and cloud data protection solutions. The continued adoption of these latest technologies by enterprises in the region bodes well for market growth. The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period owing to the region's expanding industry verticals and adoption of big data. Furthermore, the growing popularity of cloud computing, as well as the resulting need to improve operational efficiency in large enterprises and SMEs, are expected to drive demand for EDM solutions. Various governments in the region are encouraging software companies to design and develop free and open-source software for remotely managing and accessing massive amounts of data, which is expected to drive the demand for EDM solutions over the forecast period.

Key Companies & Market Share Insights

Key players invest resources in R&D activities to support growth and enhance their internal business operations. Companies are also engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development and enhancement of existing products to acquire new customers and capture more market shares. For instance, in November 2022, IBM Corp., a software solutions provider, introduced Business Analytics Enterprise, a suite of business intelligence planning, forecasting, budgeting, and dashboard capabilities, to enable enterprises to break down data and analytics silos so that they make data-driven decisions quicker and navigate unpredictable disruptions. In addition, the suite also includes IBM Analytics Content Hub, which streamlines how organizations realize and access analytics and tools from multiple service providers in a single and personalized dashboard view. Some of the prominent players operating in the global enterprise data management market include:

• International Business Corp.

• Oracle Corp.

• SAP SE

• Cloudera, Inc.

• Amazon Web Services, Inc.

• Teradata

• MindTree Ltd.

• Broadcom (Symantec)

• Informatica

• Micro Focus

Enterprise Data Management Market Report Scope

Global Enterprise Data Management Market Segmentation

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 2030. For the purpose of this study, Grand View Research has segmented the global enterprise data management market report based on component, services, deployment, enterprise size, end-use, and region:

• Component Outlook (Revenue, USD Billion, 2018 - 2030)

  • Software

  • Services

• Service Outlook (Revenue, USD Billion, 2018 - 2030)

  • Managed Services

  • Professional Services

• Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

  • Cloud

  • On-premise

• Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

  • Small & Medium Enterprise (SME)

  • Large Enterprise

• End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • IT & Telecom

  • BFSI

  • Retail & Consumer Goods

  • Healthcare

  • Manufacturing

  • Others (Government, Transportation, Education, Real Estate, and Media & Entertainment)

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • UAE

    • Saudi Arabia