Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Enterprise Data Management Market.
The enterprise data management market 2020 can touch a valuation close to USD 146 Billion by the year 2023, asserts Market Research Future (MRFR). MRFR also confirms that the market expansion can occur at a rate of 12% over the review period, which is between 2017 and 2023.
Growth Boosters and Key Restraints
Enterprise data management solutions have gained utmost significance owing to the surging need to manage massive data that organizations generate on a daily basis. The need to frame an effective data strategy for strategic advantage boosts the growth of the enterprise data management market. The voluminous amount of data produced and the need to handle it in such a way that it proves to be advantageous to the organization has placed data management at the top of their agendas, leading to rapid business growth across the IT sector worldwide.
EDM is being increasingly used by a number of companies as it offers competitive advantage to them, resulting in the emergence of lucrative opportunities for the market growth. Also, the rising proliferation of Big Data technology can also stimulate growth of the EDM market in the following years.
With the growing instances of security breaches across technology companies, enterprises everywhere are sharpening their focus on data security and privacy. Advanced technologies such as machine learning, AR and edge computing are also being extensively used by core sectors for enriching the customer experience, leading to higher demand for enterprise data management solutions.
The enterprise data management market has been differentiated with respect to component, deployment, organization size, as well as end-user.
The market components are solutions as well as services. Data management software can achieve the highest growth in the coming years, since it helps enhance the quality as well as business continuity.
The types of organizations that use data management services are large enterprise as well as small & medium enterprise.
With respect to deployment, the market segments are on-cloud along with on-premises.
The main end-users in the enterprise data management market include transportation & logistics, energy & power, healthcare, BFSI, manufacturing, government, IT & telecom, and more. With the help of enterprise data management solutions, the banking industry is able to efficiently handle the data, while ensuring the consistency of data. Further, the BFSI sector is able to adhere to all the regulatory imperatives, and use predictive models for customer and risk analytics.
Access Report Details @ https://www.marketresearchfuture.com/reports/enterprise-data-management-market-5863
Asia Pacific or APAC, North America, Europe, and the Rest of the World or RoW are the primary markets for enterprise data management.
North America can take the lead in the years ahead, thanks to the presence of sustainable and developed economies that promptly make heavy investments in R&D activities. These activities within the IT field contribute majorly to the development of the latest technologies in the enterprise data management market. The presence of a massive number of celebrated companies like IBM Corporation (U.S.), Oracle Corporation (U.S.), and Intel Security (U.S.), also adds to the market strength in the region. The U.S and Canada, armed with a huge IT network, are the top-performing markets for enterprise data management in the region. Furthermore, the surge in the use of data maturity model can emerge as a lucrative opportunity for the regional market in the years to come.
APAC can be the fastest gaining market for enterprise data management during the appraisal period, with the lead expected to be taken by India, Japan, South Korea and China. The rapidly mounting number of small and medium enterprises within the IT sector and the rising deployment of cloud computing solutions are touted to be the chief growth boosters in the regional market. India can achieve the fastest growth rate in the region, thanks to the rising number of government initiatives that boost the number of SMEs in the IT industry.
Goldensource (U.S.), SAS Institute Inc. (U.S.), Intel Security (U.S.), Mindtree (India), SAP SE (Germany), IBM Corporation (U.S.), Symantec Corporation (U.S.), Oracle Corporation (U.S.), Primitive Logic (U.S.), Liasion Technologies (Sweden), Teradata Corporation (U.S.), Cognizant (U.S.), MongoDB (U.S.), Jade Global (U.S.), Mulesoft (U.S.), Accenture (Ireland), Talend (U.S.), Solix technologies Inc. (U.S.), are the top players competing in the enterprise data management industry.
Tech giants Microsoft and Cisco have entered a partnership, signaling the bid to take over the IoT data management space.