Enterprise Data Management Market Size, Share, & Trends Analysis Report By Component (Software, Services), By Services (Managed Services, Professional Services), By Deployment, By End Use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global enterprise data management market size was valued at USD 82.25 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.0% from 2022 to 2030. The growing adoption of the Internet of Things (IoT) devices, increasing need for on-time data delivery, and growing need for data management in enterprises as an essential need for business continuity are a few factors contributing to the growth of this market. The COVID-19 outbreak has positively impacted the global market.

Organizations across the globe have turned to enterprise data management (EDM) providers for a range of services and solutions. The trend is likely to remain strong in the near future as well. It benefits businesses and enterprises by offering unified integration with consuming applications, control of their data, augmented transparency, and support for ongoing regulations & compliances.

The growing demand for data integration and visual analytics has been instrumental in driving the growth of the market. The use of Artificial intelligence (AI) in cognitive media solutions (whiteboard videos and whiteboard animations) allows real-time synthesizing of data for effective decision-making by facilitating real-time analysis.

In addition, vendors are also introducing AI-powered products to increase the AI capabilities of analytics. As a result, several enterprises are also integrating business analytics software with their businesses for the dynamic representation of data. These factors will further fuel the market growth during the forecast period.

The continued globalization has prompted many organizations to open offices across the globe. However, the changing data according to the location of the offices is posing challenges for data procurement. Enterprise data management solutions can help at this juncture in single-source reporting and allow multi-user capability, thereby providing clients with proper management of data in every business location.

EDM solutions can help the incumbents of various industries such as BFSI and manufacturing, among others, to obtain valuable insights from the historical and current data, and forecast market changes that can potentially affect the clients’ requirements. EDM solutions can be beneficial for such organizations by ensuring the accuracy of the information and risk management.

The growing demand for consumers for enterprise data management is 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. EDM 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 are expected to fuel the growth of the global enterprise data management market during the forecast period.

EDM assists various organizations in resolving data management difficulties that could lead to data mishandling. It implements a structured process of data delivery procedure from the data producer to the data user. It comprises various segments such as software, network infrastructure, business judgment, and regulations that are used to manage the flow of data.

For the application of enterprise data management, organizations have to follow certain aspects and collaborations of inter teams such as finance, IT, and operations for the implementation of enterprise data management.

Components Insights

The software segment accounted for the largest revenue share of over 76.4% in 2021. The 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.

Several organizations are increasingly adopting effective EDM solutions to fulfill regulatory compliance, including data privacy needs and financial reporting. Benefits, such as reduction in inaccurate and duplication of data and subsequent improvement in organizational productivity, are expected to further drive the growth.

The service segment is expected to expand at the highest CAGR of 15.7% over the forecast period. Enterprise data management services help businesses reduce operating expenses, enhance operational efficiency, and focus on their core competencies. It also helps gain rapid, contextual, and empowered insights and subsequently address complex business issues.

Moreover, several companies are opting for enterprise data management for controlling and monitoring their business to ensure a smooth flow. These factors are expected to attract a huge client base and further propel the growth of the segment during the forecast timeframe.

Services Insights

The professional services segment held the highest market share of 68.6% in 2021. The segment growth can be attributed to the adoption of big data and analytics and the growing demand for improved mobility among service consultants. These services help in optimizing staffing, improving collaboration, and automating time management and expense management. Furthermore, 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 accounted for a market share of over 30% in 2021. These services can potentially help organizations simplify their data and improve business operations. They deliver effective functionalities at minimal costs without compromising on quality. Managed services support and ensure the reliability and consistency of services offered for various business processes. They 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.

Deployment Insights

The on-premise segment held a revenue share of over 45% in 2021. Several organizations are shifting from manual systems to automated systems to carry out various operations. This has triggered the demand for on-premise software. Several organizations are availing on-premise deployment due to increased security features. In addition to this, some 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 over the forecast period.

The cloud segment is expected to witness a significant CAGR of 16.5% during the forecast period. Cloud-based solutions allow businesses to access data across connected devices at any point, which surges the scope for customization and enables the implementation of analytical tools across multiple business channels. Moreover, organizations are rapidly 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.

Enterprise Size Insights

The large enterprise segment held the highest market share of 67.3% in 2021, attributed to the rising demand for robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making across large organizations. In large enterprises, the associated processes and operations require high-tech tools, including advanced analytical engines, process blueprints, and real-time data compilation tools, driving the adoption of business solutions. Large enterprises strongly focus on adopting effective data approaches to classify and forecast probable threats and utilize this data to make faster business decisions. These factors are anticipated to drive the demand for EDM solutions.

The Small & Medium Enterprises (SME) segment is expected to expand at a significant CAGR of 14.7% over the forecast period. The segment growth can be attributed to the growing preference for cloud-based solutions and the strong emphasis on developing cybersecurity strategies, preventing insider threats, and streamlining business operations. Enterprise data management helps SMEs improve costs, remove repetitive tasks, prioritize work, reduce business risks, and improve collaboration among teams. These will supplement the growth of the segment during the forecast period.

End-use Insights

The BFSI segment is expected to expand at a significant CAGR of 15.5% during the forecast period. The implementation of 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. For instance, banking institutes across the globe have implemented advanced agile methods to secure their data and ensure accurate data quality. These advancements in technologies are driving the adoption of enterprise data management solutions across the BFSI industry.

The healthcare segment is expected to register a CAGR of 13.9% over the forecast period. Enterprise data management provides healthcare professionals with instant access to patient data through secure portals and the ability to store large volumes of data and manage those effectively. Adopting EDM solutions in the healthcare industry vertical can potentially encourage remote collaboration and data sharing, and overcome the limitations associated with the outdated technologies and services. These solutions support data automation, streamline the incoming data, simplify the discharge processes, and help in eliminating the need for offline processes.

Regional Insights

North America regional market held the leading revenue share of 37.2% in 2021. The 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. The continued adoption of these latest technologies by enterprises in the region bodes well for the regional market’s growth.

The Asia Pacific regional market is estimated to witness a significant CAGR of 16.5% over the forecast period due to the increasing industry verticals and adoption of big data in the region. Furthermore, the growing popularity of cloud computing and arising need to improve operational efficiency in large enterprises and SMEs are expected to boost the demand for enterprise data management. 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 EDM solutions over the forecast period.

Key Companies & Market Share Insights

The dominant players operating in the market include International Business Corporation; Oracle Corporation; SAP SE.; Cloudera, Inc.; Amazon Web Services (AWS); and Broadcom (Symantec); among others. Market players have been investing significant resources in R&D activities to support growth and enhance their internal business operations.

The companies can be seen 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 April 2021, IBM 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 prominent players in the global enterprise data management market include:

• International Business Corporation

• Oracle Corporation

• SAP SE

• Cloudera, Inc.

• Amazon Web Services, Inc

• Teradata

• MindTree Ltd.

• Broadcom (Symantec)

• Informatica

• Micro Focus

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 2017 to 2030. For 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, 2017 - 2030)

  • Software

  • Services

• Service Outlook (Revenue, USD Billion, 2017 - 2030)

  • Managed Services

  • Professional Services

• Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

  • Cloud

  • On-premise

• Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

  • Small & Medium Enterprise (SME)

  • Large Enterprise

• End-use Outlook (Revenue, USD Billion, 2017 - 2030)

  • IT & Telecom

  • BFSI

  • Retail & Consumer Goods

  • Healthcare

  • Manufacturing

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

• Regional Outlook (Revenue, USD Billion, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa