The global enterprise data management market size is expected to reach USD 208.87 billion by 2028, registering a CAGR of 13.8% from 2021 to 2028, according to a new study by Grand View Research, Inc. The increasing need for on-time data delivery with accuracy is the major driving factor of the overall market growth. Enterprise Data Management (EDM) is a data management platform wherein the data is pulled across from multiple business and enterprise locations and siloes to a central hub. Therefore, it integrates with any database to store as well as fetch data. EDM allows organizations to implement effective data governance and data quality rules and norms. These rules help businesses and enterprises organize and manage their data better, and enable efficient data-based decision making.
EDM has various features such as flexibility to choose multiple deployment modes, and it help leverage industry standards, robust quality controls, and easy distribution functionalities. EDM generates a stable version of enterprise data in a visible and examined environment. Enterprise data management addresses the data availability concerns by procuring data from multiple locations and sources, and storing is in a single common platform. It benefits businesses and enterprises by offering unified integration with consuming applications, control of their data, augmented transparency, and support for ongoing regulations & compliances.
Organizations generate different types of data, including financial information, photos, graphics, videos, inventory numbers, mobile data, and social media data, from various organizational assets. All this data needs to be organized and secured and should also be easily accessible for the use of the enterprise. EDM solutions help in creating a process for delivering actionable insights from raw data, which may be unorganized or full of duplicates. EDM solutions also help in managing the data internally across departments in an efficient manner. The increasingly strong emphasis enterprises are putting on ensuring on-time qualified information is expected to drive the demand for enterprise data management solutions.
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In terms of component, the services segment is anticipated to register considerable growth over the forecast period. Enterprise data management services help businesses in reducing operating expenses, enhancing operational efficiency, and focusing on their core competencies
In terms of service, the professional services segment dominated the market in 2020 and is expected to retain its dominance over the forecast period. The increasing automation of professional services owing to the adoption of big data and analytics, coupled with the growing demand for improved mobility among service consultants, is anticipated to drive the growth of the segment
In terms of deployment, the cloud segment is anticipated to register the highest CAGR from 2021 to 2028. 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
In terms of organization, the large enterprise segment is anticipated to register promising growth over the forecast period. This growth can be attributed to the rising demand for robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making across large organizations
In terms of industry vertical, the retail and consumer goods segment is expected to register a promising growth rate from 2021 to 2028. Companies operating in the retail and consumer goods industries have to manage vendors, customers, products, and Stock Keeping Units (SKUs) and are hence aggressively opting for efficient data management solutions
In terms of region, the Asia Pacific regional market is expected to register a promising growth rate from 2021 to 2028. 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
Grand View Research has segmented the global enterprise data management market based on component, services, deployment, organization, industry vertical, and region:
Enterprise Data Management Component Outlook (Revenue, USD Million, 2018 - 2028)
Enterprise Data Management Services Outlook (Revenue, USD Million, 2018 - 2028)
Enterprise Data Management Deployment Outlook (Revenue, USD Million, 2018 - 2028)
Enterprise Data Management Organization Outlook (Revenue, USD Million, 2018 - 2028)
Small & Medium Enterprise
Enterprise Data Management Industry Vertical Outlook (Revenue, USD Million, 2018 - 2028)
IT & Telecom
Retail & Consumer Goods
Enterprise Data Management Regional Outlook (Revenue, USD Million, 2018 - 2028)
Middle East & Africa (MEA)
List of Key Players of Enterprise Data Management Market
International Business Machines Corporation
Amazon Web Services, Inc
Enterworks (Winshuttle, LLC)
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